Category: Costa Rica Legal

6 Mistakes when Using a Corporation for Property Ownership

Estimated Reading Time: 5 Minutes For many years, lawyers have recommended the use of a corporation for property ownership for resident and non-resident foreigners. The choice of a corporate structure used to be recommended because of personal liability, estate planning, tax planning, and a few other reasons. Also, real estate developers used to create corporations…

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Legal Due Diligence Seminar Before Moving to Costa Rica

Don’t “fall on your face”, like so many who moved to Costa Rica before you, when buying or renting a property. Protect yourself, your family, and your money. Learn about everything you should NOT do when you buy, or rent a property in Costa Rica. Participating in this legal due diligence seminar is the best…

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The solution to your Costa Rican corporation problems

You might not even know you have Costa Rican corporation problems. Especially if your corporation owns property in Costa Rica. Or if you own a corporation and you’re not a citizen or resident. Above all, you don’t want to lose your assets in CostaRica because you are not up to date with your legal obligations,…

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Current Considerations for Incorporating a Company When Buying Property in 2019

I started practicing law in Costa Rica in 2003. At the time, incorporating, or not incorporating a company in Costa Rica to hold real property and other assets, was a straight forward decision. Property buyers were Incorporating a Company for basically 3 reasons: 1. Limited liability aspect afforded by the corporate structure. 2. Anonymity afforded…

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Anonymous corporations are not anonymous anymore in Costa Rica

Watch the new legal requirements on Anonymous corporations in Costa Rica. In the past, property in Costa Rica was almost customarily purchased into anonymous corporations by foreign buyers. One of the most important reasons was to protect the property for the personal liability of the owner. Another good reason was that several owners could possess a…

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Request the zoning or uso de suelo before property purchase

Your first due diligence when buying land or a property in Costa Rica is to request the zoning or certificación de Uso de Suelo for that particular property. The certificación de Uso de Suelo is extended by the engineering department at the Municipality where the property is located. Each city has its own zoning plan…

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My corporation was dissolved by the Public Registry – did I lose my property?

Are you amongst the more than 250,000 corporate owners whose corporation was dissolved by the Public Registry for non-payment of the Corporate Tax? If your corporation was dissolved by the Public Registry, what happened to your property? During the real estate boom of 2007-2008, real estate developers set up corporations so that their clients, could…

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Do you need title insurance when buying property in Costa Rica?

The very first time I had any idea what title insurance was all about was in 2002. In Costa Rica, title insurance was not customary. Only INS, the local insurance company, could sell insurance, by monopoly regulations. Not until 2008, President Oscar Arias signed a new law that opened up the insurance market in Costa…

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Real Estate FAQ | River setbacks in Costa Rica are unbuildable

River setbacks are restricted areas of property surrounding the rivers and creeks in Costa Rica. The law strictly prohibits to build any roads or structures on river setbacks. Prohibited also are excavation, alteration, improvement, grading, landfill, paving, and storage. INVU controls the river setbacks, so they can protect the riverbeds against destruction. Looking to purchase…

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