Fast answers to frequently asked legal questions

These are the most common questions clients have with regard to ownership of property in Costa Rica, whether it’s buying, selling, or owning land, a business or a house. We are answering them with yes or no as a simple start to understanding the country’s laws and practices. For more detailed answers on specific cases, please contact us to schedule a legal consultation.

Is there titled property in Costa Rica? YES

Can a foreign person buy property in Costa Rica? YES

Can I buy property on my own name? YES

Do I need to create a Company to buy property? NO

Does a buyer need to be a resident to buy property? NO

Does a buyer need to live in Costa Rica to buy property? NO

Is an attorney / Notary Public needed to buy property? YES

Are there transfer taxes when buying a property? YES

Are there property taxes when owning property? YES

Are there regulations as to what can be built and what not? YES

Are there regulations as to what activity or use is allowed at a certain property? YES

Are there protected areas where the buyer could not build? YES

Are there gated communities where HOA are to be paid? YES

Can I get a legal residency through buying property? YES

Can a foreign person open a local bank account? YES

Can a foreign person get financing from a local bank? YES

Are there regulations with regards to incoming funds? YES

If I sell my property do I have to pay capital gain taxes? YES

If I sell my property can I be paid at a foreign bank? YES