Whether it is worthwhile to buy a piece of property in Costa Rica depends on your level of comfort and the purpose for which you plan to use it. Also, you should determine how much risk you’re willing to take and whether you’re comfortable managing the property from another country. Once you’ve answered these questions, you’ll be able to decide whether it’s worthwhile to buy property in Costa Rica.
There are a few advantages to buying property in Costa Rica through a corporation like Dominical Realty. This structure makes the transfer of the property much simpler. In Costa Rica, a typical limited liability company consists of two or more people. They can form the corporation with the help of a Costa Rican Notary Public. They can then buy and sell shares, or they can own all the shares. There are no restrictions on foreigners owning property within 50 meters of the ocean. However, foreigners cannot buy property within 150 meters of the ocean. For this reason, it’s best to buy a piece of property in the corporation’s name. If you’re looking to buy a piece of property in the corporation’s name, it’s best to consider incorporation. It may ease the transfer process and allow for greater flexibility in organizational matters.
Another major consideration is taxation. The government has implemented many tax breaks for foreign investors to encourage their investment in Costa Rica. Foreign investors can even avoid paying taxes in two countries by purchasing property in Costa Rica, as long as they don’t use it as a business. However, if you intend to sell your property, you’ll still be responsible for paying taxes in your home country if you make any profit.
Whether or not it’s a sound investment depends on how you plan to use the property. If you plan to sell it in the future, it may be wise to invest in land rather than property, since you’ll be able to sell it for a much higher price 40 years later. It’s also possible that the land you bought is overrun by squatters. If you’re planning to develop it as a business, you might want to buy land near the school and shopping areas.
Another important consideration is the climate. While Costa Rica is generally warm throughout the year, the country experiences two seasons: a wet and a dry one. You can live in one or both. Fortunately, Costa Rica has relatively dry seasons. The winter season is much wetter than it is cold. While the country is renowned for its sunny skies, it can be chilly in the winter.
Foreign nationals and non-residents have the same rights to own property in Costa Rica as Costa Ricans. Foreigners should always incorporate a company before buying property in Costa Rica, as this will protect them from personal liability. Using a real estate agent, however, is essential. The estate agent will then submit an Offer to Purchase stating the general terms of the sale, as well as the price. Visit for more valuable insights from top recommended realtors in Costa Rica: www.dominicalrealty.com