Frequently Asked Questions
Can foreigners own property in Costa Rica?
Yes, foreigners are permitted to own Real Estate in Costa Rica. Foreigners also have the same property rights as Costa Ricans. Private property ownership is protected by laws set forth in the Constitution of Costa Rica.
Can I acquire a property under my personal name, even being a foreigner?
Yes, however, it is more advantageous to acquire the property through a corporation in order to separate potential personal liabilities, facilitate the closing procedure, and allow for easier transfer to relatives in case of casualty. Each Lot and Home/Lot package at Hacienda Punta Alta includes a Limited Liability Corporation (LLC) that the property is registered in. When you purchase your Costa Rica property, you simply assign who will be the new officers of this LLC.
When I buy Costa Rica Real Estate do I need to be present at closing?
No. The closing can be executed through a Power of Attorney with a third party in Costa Rica that you trust.
What are the common taxes, legal fees, and closing expenses included in the purchase of property in Costa Rica?
When you purchase a property in Costa Rica there is national tax of 1.5% of the purchase price that is paid (by your lawyer) to the National Registry. Legal Fees for closing on the purchase of property in Costa Rica are 1% to 2% depending on the sales price, complexity of the transaction, and the allotted time spent by the attorney on the deal.
Does Hacienda Punta Alta have a property management company?
Yes. We provide Rental support and maintenance of your property.
Is there a Home Owners Association at Hacienda Punta Alta?
Yes. Current HOA fees are $100 USD.
Can I market my house for rentals independently of the Management Company?