buying titled property
There are two ways in which to buy titled property in Costa Rica. The first is to buy property that is privately owned.
This process takes approximately 2 to 3 weeks and includes change of registered name of property owner in the national
registry.
The second is to buy property that is owned by a corporation, usually an LLC type or Sociedad Anonima (S.A.).
| This process takes approximately 2 to 3 days and involves 100% sale of shares of
company to the new property owner who becomes the sole president of the company and thus the owner of the land. This
is the easiest and most common way of buying land in Costa Rica.
Property taxes, buying and owning The buyer will pay on a $100,000 property purchase $3,500 USD for
taxes and legal fees. The fee includes the registration process and contract issues. There is a very small annual tax on the
property that is around .01% of the value of the property and it is paid to the local municipality. |
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| The amount depends on size of the property and individual municipality laws. There is a 13% sale tax on
the property that usually can be largely reduced by declaring a lesser sale price than actual selling price. This percentage is
currently in process of modification to 10%. |
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