Real estate purchase in Costa Rica
Real estate – buying in Costa Rica – possible for foreigners?
There is absolutely no problem for foreigners to purchase and own property in Costa Rica. Costa Rican law applies to everyone and everyone! The legislation ensures the acquisition, ownership and sale of land, regardless of a person's origin!
Restrictions in this legislation relate to land acquisition in the 200 meter zone of the coast, at river mouths, near nature reserves and on offshore islands, but they apply primarily to private individuals.
Registration of real estate
The registration of the property is well organized. According to the Costa Rican Civil Code, all property titles must be registered in the “Registro Nacional”. The property documents naturally contain all information about the relevant property, including all mortgages, rights of way or usufruct rights.
Land acquisition and buying a property – tips for emigrants
If you would like to purchase a property, it is advisable to always carry out careful research before purchasing, namely the relevant title and registered encumbrances such as mortgages or usufruct rights. Copies of the respective cadastral plan and the purchase contract should be given to the lawyer for review before signing. The actual transfer of ownership is legally sealed by the purchase contract. If the purchase process extends over a longer period of time, a preliminary contract can be concluded. The buyer of a property is free to conclude the purchase contract as an individual, together with other people or on behalf of a corporation.
Legal advice – recommended for emigrants!
The purchase contract is processed by an officially licensed notary. The notary is required by law to be a neutral party and as such is committed to the interests of both contracting parties. If you do not have sufficient knowledge of Spanish, you should consult a German-speaking lawyer or translator.
Involvement of brokers
Finding a suitable property is usually very tedious and time-consuming. Reputable real estate agents are certainly valuable help! Not only can they relieve you of a large part of the work, but they are also very familiar with the jungle of offers on the Costa Rican real estate market.
Legal and mediation fees
The legal fees for real estate transactions are based on the legal provisions. According to the table, the legal fee is between 1.25 to 1.5% of the actual sales price of the property. Transfer and sales taxes or applicable fees are not included in this fee and amount to approximately 2.7 %. An engaged real estate agent usually charges 5% of the sales price unless otherwise agreed.
See also:
Company foundation / Services
Real estate – buying in Costa Rica – possible for foreigners?
There is absolutely no problem for foreigners to purchase and own property in Costa Rica. Costa Rican law applies to everyone and everyone! The legislation ensures the acquisition, ownership and sale of land, regardless of a person's origin!
Restrictions in this legislation relate to land acquisition in the 200 meter zone of the coast, at river mouths, near nature reserves and on offshore islands, but they apply primarily to private individuals.
Registration of real estate
The registration of the property is well organized. According to the Costa Rican Civil Code, all property titles must be registered in the “Registro Nacional”. The property documents naturally contain all information about the relevant property, including all mortgages, rights of way or usufruct rights.
Land acquisition and buying a property – tips for emigrants
If you would like to purchase a property, it is advisable to always carry out careful research before purchasing, namely the relevant title and registered encumbrances such as mortgages or usufruct rights. Copies of the respective cadastral plan and the purchase contract should be given to the lawyer for review before signing. The actual transfer of ownership is legally sealed by the purchase contract. If the purchase process extends over a longer period of time, a preliminary contract can be concluded. The buyer of a property is free to conclude the purchase contract as an individual, together with other people or on behalf of a corporation.
Legal advice – recommended for emigrants!
The purchase contract is processed by an officially licensed notary. The notary is required by law to be a neutral party and as such is committed to the interests of both contracting parties. If you do not have sufficient knowledge of Spanish, you should consult a German-speaking lawyer or translator.
Involvement of brokers
Finding a suitable property is usually very tedious and time-consuming. Reputable real estate agents are certainly valuable help! Not only can they relieve you of a large part of the work, but they are also very familiar with the jungle of offers on the Costa Rican real estate market.
Legal and mediation fees
The legal fees for real estate transactions are based on the legal provisions. According to the table, the legal fee is between 1.25 to 1.5% of the actual sales price of the property. Transfer and sales taxes or applicable fees are not included in this fee and amount to approximately 2.7 %. An engaged real estate agent usually charges 5% of the sales price unless otherwise agreed.
See also:
Company foundation / Services
