Can I as a foreigner buy and own property in Costa Rica?
Ownership of real estate in Costa Rica by
foreigners is fully guaranteed by the constitution. In addition,
foreigners enjoy the same ownership rights as Cost Rican citizens,
regardless of whether the property is placed in the name of a corporation
or in the name of an individual. There are no restrictions on foreign
ownership like in Mexico.
How secure is a real estate purchase in Costa Rica?
It's just as safe to buy titled land in Costa
Rica as it would be in the US, Canada, or Europe. Public registration
of ownership, liens and encumbrances are no different.
Can I have the title of property in my own name?
You can legally have the property in your
own name, however, we recommend using an attorney to set up a corporation
as the owner of the property. Our attorney can explain more thoroughly
but simply there are asset protection and title transfer advantages
to having the corporation.
How much are the property taxes?
Property taxes in Costa Rica are extremely
low when compared to the United States. This is one of the attractions
What about capital gains tax?
There is no capital gains tax in Costa Rica
as long as your property is not used in a for profit business. You
should consult a Costa Rican attorney and your tax professional
back home before doing any bank transfers to make certain your not
opening yourself to any unnecessary tax exposure.
How is title transferred?
When buying property in Costa Rica, property
is transferred from seller to buyer by executing a transfer deed
(escritura) before a public notary. Attorneys serve the role of
public notary in Costa Rica. Once a transfer deed is accepted for
registration, the Public Registry will return the original document
within 45-60 days.
Do I need to use a Real Estate Broker?
No. Attorneys are necessary for the title
transfer in Costa Rica and they also perform all of the functions
a broker would. Real Estate Brokers can be helpful in finding properties
but are not necessary for the transaction.
Is there decent healthcare?
Yes, there is good healthcare available within
driving distance of Rancho Lagarto. For major medical problems the
best hospitals are in and around San Jose.
What activities are in the area?
Surfing, snorkeling, horseback riding, hiking,
golf, sport fishing, white water rafting, dining, natural hot springs
and spas, canoeing, rainforest canopy tours plus many more.
How much will it cost to build my house?
Approximately $60-75 per sq. ft for a custom
home built to U.S. standards, incorporating exotic woods, marble
and other top quality supplies for construction.
Is there Internet access?
Yes, High Speed DSL and satellite TV are available
What infrastructure is provided when I purchase property in Rancho
Roads, water, and power will be brought to
the front of each lot ready for you to begin construction on your
Are there association by-laws?
Yes, currently an Owner's Association has
been established in order to maintain standards of building and
conduct for all residents and their guest all for the purpose of
security, tranquility, and increasing the property values.
If I plan on living on my property for only a portion of the year,
may I rent my house and is there a management service?
Yes, Rancho Lagarto will offer in-house property
management and rental services.
Do I have to worry about squatters?
Absolutely not. You may have heard myths of
squatters taking over a foreigner’s land and deeming it worthless.
That is impossible in today’s Costa Rica in a development
like Rancho Lagarto.
Is Title Insurance Available?
Yes, title insurance is available through
“Stewart Title of Costa Rica” at owner’s expense,
however it is not necessary when using a reputable attorney on your