Advice on Investing Costa Rica
We are independent experts that help and guide people when it comes to investing, purchasing Real Estate and Relocating to Costa Rica. We've been doing this for combined time of over 50 years and below we have gathered our advice and the top 10 questions into an FAQ for you.
Top 10 Frequently Asked Questions
Can a foreign person own property in Costa Rica?
Yes, foreign individuals and entities can own property in Costa Rica. The Costa Rican constitution guarantees the same property rights to both Costa Rican citizens and foreigners. All property is held by the government in a digital registration online (Registro Nacional). Property is owned here as fee-simple titled land.
There are a few restrictions such as Concession Property which is deemed to be the first 200m of beachfront land that if owned by a foreign person has a 7-year lease, whereas if held in a corporation by where a Costa Rican holds 50% or more of the ownership (your lawyer could be the Costa Rican and shares held in trust) you are granted a 20 year lease.
Is Real Estate regulated in Costa Rica?
Officially a realtor should be registered with SUGEF (Securities Registration), however many Realtors are not. They are not required to be part of any Chamber or to be licensed. If you want you could turn up tomorrow and put your flag in the ground and say 'I'm a realtor'.
It's vital you find a good, reputable and licensed Realtor as there are many stories of people buying property 2 times, or being sold property that was never for sale, etc. This is why we advise and consult with people like you, making sure all 'i's' are dotted and 't's' crossed.
How do I buy property in Costa Rica?
To start your property search, it's important to have a trustworthy and experienced professional who can guide you. Once you find a potential property, it's crucial to conduct thorough due diligence, as legal proceedings can be complicated and time-consuming in Costa Rica. To protect your interests, it's recommended to have a Sales Purchase Agreement drafted by a Costa Rican lawyer in both English and Spanish, if necessary. For added security, consider using an independent third party, such as Escrow.
Before closing the deal, you should consider whether you want to own the property in your name or through a corporation. It's advisable to discuss this with your lawyer. Once you've made a decision, a Notary will prepare the transfer document for all parties to sign. Once the document is signed, funds will be released, and it typically takes around 2-3 weeks for the property to be registered in the National Registry. Please consult your lawyer for more information as not all lawyers in CR are notaries.
Where should I buy property in Costa Rica?
The choice of where to buy property in Costa Rica depends on your personal preferences, investment goals, and the type of property you are looking for. Costa Rica offers a variety of regions, each with its own unique characteristics. Here are some popular areas to consider:
Guanacaste (Northwest Pacific):Tamarindo, Flamingo, Nosara, Coco
Central Pacific: Jaco, Playa Hermosa, Manuel Antonio
Southern Zone: Dominical, Uvita, Ojochal, Osa Peninsula
Central Valley: Atenas, Grecia, Santa Ana, Escazu, Cuidad Colon, Heredia
Caribbean: Puerto Viejo, Cahuita, Manzanillo, Cocoles
How much does a property cost in Costa Rica?
The cost of property in Costa Rica can vary significantly depending on factors such as location, property type, size, condition, amenities, and proximity to beaches or tourist attractions. Below is a rough guide to prices:
1 bed Condo= $125K - $400K
2 bed Condo = $150K - $500K
3 bed Condo = $200k - $600K
3 bed Home = $300k - $900K
4 bed Home = $450K - $1.5M
5 bed Home = $600K - $2.5M
6 bed Home = $800K - $3.5M
With over 50 years of combined experience in Real Estate, Investing and Relocation we have the experience, the team and the knowledge to help you have the soft landing you are looking for in Costa Rica.
We are a full-service company that can help you go from idea to cashflow if required. We have Investment, Business, Real Estate, Relocation, Engineering and Marketing Experts on Team.
Our packages are custom designed just for you. No client is the same, nor are their goals and aspirations, that is why we believe in a personalized service from the start.