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If you are considering investing in costa rica retirement, you are not alone. The combination of costa rica retirement shear beauty and the peacefulness of it's people has made it one of the most sought after international destinations for land ownership by foreigners. Investing in real estate in costa rica retirementshould be an enjoyable experience that brings out the true meaning of pride of ownership. By following a few simple guidelines and reviewing the information below, you can make your search a safe, hassle-free process which will bring you much satisfaction.costa rica retirement

Ownership of real estate in costa rica retirementby foreigners is fully guaranteed by the constitution. In addition, foreigners enjoy the same ownership rights as costa rica retirementcitizens, regardless if the property is placed in the name of a corporation or in the name of an individual. costa rica retirement The decision to have the property under the name of a corporation is strictly up to the investor. This is very common and can offer benefits of asset protection and anonymity for the actual owner. costa rica retirement A valid passport for three representatives (president, vice president and treasurer-all can be foreigners) is the only requirement for a foreigner to form a corporation in costa rica retirement; the cost is approximately $400.00. When dealing with the maritime zone, a costa rica retirement citizen is required to hold at least 51% of the corporation until the lease-concession is granted by the government. costa rica retirement

Property taxes throughout costa rica retirementare very low when compared to Canada and the United States. There are two forms of taxes, the Municipal Tax and Real Estate Tax. The Municipal Tax is administered at the municipal level and varies throughout the country. Paid quarterly, the type of property, location and other factors contribute to the calculation of this tax. The Real Estate Tax in based on the declared value of the propery, at a rate of 6%. This tax is applicable throughout the country regardless of the properties location.costa rica retirement

A nice incentive for foreign investment is that there is no capital gains tax. You will not be taxed by the costa rica retirement government on the profit from the future sale of your property as long as this is not undertaken as a means of business. You would be obligated to pay taxes on any "declared" earnings being brought back to your country of citizenship. costa rica retirement

It is important that you or your attorney take the necessary steps in order to properly register the property, and more importantly, be assured that the property in question is free of all liens and encumbrances. The Registro de la Propiedad (Property Registry) is where all property documents are recorded, thus a title search at the Registry would confirm good title and proper ownership. In the event that adjustments were made to any given title, these alterations must be recorded at the Registry. costa rica retirement

This will show the name of the legal owner and will disclose any liens or limitations against the property. The arrival last year of Stewart Title Guarantee further ensures that your purchase can be fully secured. costa rica retirement

Check if all taxes on the property have been paid to date. Also, ask to see an Official Registry Survey of the property. If one has not been completed, which can be common when purchasing a section of a larger parcel, request that any deposit be held by the attorney until an official survey has been provided. If this is the case, ask to review the Official Registered Survey of the "mother" parcel. costa rica retirement

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