COSTA RICA REAL ESTATE BUYING BASICS
Any foreigner can own real estate just as well as a Costa Ricans, In the past, many foreigners chose to set up a Costa Rican corporation to be the official owners of their property, but the government recently closed the tax loophole that made this option attractive. Please know that individual buyers will always pay a 2.5 percent transfer tax when property changes hands, and that corporate owners will now have to pay the same amount if they decide to use their personal name to purchase a property in Costa Rica. Over all transaction costs include a notary fee of 1.25 percent, and title insurance costing about 1 percent. It is also requires for buyer to pay 13% on closing cost.
“High-end properties are always priced in U.S. dollars,”
LANGUAGES AND CURRENCY
Spanish; colones (1 colón=$0.002)
