Category: Costa Rica Legal

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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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Power of attorney to your property manager in Costa Rica – should you?

Estimated Reading Time: 6 Minutes Do you own a vacation rental? Have you thought about giving power of attorney to your property manager? When you invest in a vacation rental or any other rental property in Costa Rica, and you hire a local property manager to care of your investment, there are a few things…

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Costa Rica property ownership for couples and what is prudent

Estimated Reading Time: 6 Minutes A reader asks how what the options are to have property ownership for couples. Thanks to our readership for suggesting a great topic that is so important when you are buying property in Costa Rica as a couple. How can you divide the ownership between couples and what is prudent…

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