Everything You Need To Know About Investing In Costa Rica…
We know how daunting it is to buy a property in the North America and Europe so there for you would think that it would be even more so in the Costa Rica. Actually it is quite similar with the right guidance. If Your question and answer are Not Here, Please Send Us An Email Costa Rica Investment Properties has all your answers with our “bundle of services.” This would include:
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Finding the right property whether it be New Construction or an Existing Property
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Corporate Structures (Lawyers – CPA)
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Bank accounts
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Property Managers
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Tradesmen / Maintenance Services
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Finance Options
CAN YOU BUY A PROPERTY IN COSTA RICA?
Yes, foreigners can buy in Costa Rica and as a matter of fact over 50% of the visitors into Jaco are from the United States. Costa Rica is becoming more and more popular for Second Place of Residency, Retirement and Great for Vacation Rental Opportunities. Properties can be bought very similar to most property transactions in other countries.
ARE THERE FINANCE OPTIONS AVAILABLE IN COSTA RICA?
At the moment we are still searching for the right lender to fill in this gap.
Seller Financing is also available on select properties. These options usually vary from 25-50% down, with rates from 7-9%. Terms are typically 2 to 5 years
Did you know that you may be able to purchase a Foreign Investment Property with your Self-Directed IRA?. For more information on this please click here.
For more info from a Certified Real Estate IRA Agent please contact: Kevin@CostaRicaInvestmentProperties.com
DO I NEED TO SET UP A CORPORATION IN COSTA RICA TO PUT MY PROPERTY IN?
It is highly suggested that Foreign Investors create a Costa Rica form of an LLC known as an SRL. It is always best to check with your Lawyer and or CPA in this case. We will put you in contact with Lawyers and CPA’s in Costa Rica that already work with foreign clients.
FINDING THE RIGHT PROPERTY…
New Construction is a wonderful thing because it is brand new, comes with a 5-year builders warranty and in some cases you can make some minor / custom changes. Pre Existing Properties are great and if managed correctly can be rented out quickly. It is highly suggested to obtain a Builders Inspection for pipes, electrical and mold. Please contact Kevin@CostaRicaInvesmentProperties.com for consultation on your requests, ROI’s, areas, etc
DO I ACTUALLY OWN THE PROPERTY OR DOES THE COSTA RICAN GOVERNMENT OWN THE PROPERTY?
There is both Concession Land and Fee Simple aka “Titled Land” in Costa Rica. We introduce you ONLY to Fee Simple property opportunities. Titled Land means that you own 100% of the property yourself or in your structured corporation. You hold the Title!
IS THIS A TIME SHARE?
Absolutely Not! Again as stated above, this is your property for you to live in, rent out, vacation rental, share with family and friends, etc. There are opportunities for Fractional Ownership as well, which are not Time Shares.
WHAT ARE THE TAXES THAT NEED TO BE PAID IN COSTA RICA?
Just like any other country around the world… You are obligated to pay taxes in the country you make “profits” in. We are more than happy to make introductions to CPA’s that look over our current investors.
WHAT ARE THE CLOSING COSTS?
Closing costs can be from 3.5% to 4% of the value of the property.
WHO WILL MANAGEMENT MY PROPERTY WHILE I AM AWAY?
Just like your current rental property you may already own, we have property managers that we work with you directly.
HOA's
HOA’s or Maintenance Fees frequently known in Costa Rica are very similar to those in the other countries. They generally take care of and manage the exterior of your property, external insurance, landscaping, pay for 24/7 security, etc. CAUTION! Make sure that you check with your Realtor and or Lawyer to see if the HOA’s are current and in good standing. Also check to see if there are any assessments that may be coming up.
WHY DO I THINK COSTA RICA IS A 3RD WORLD COUNTRY?
Most likely because you have never been to Costa Rica. Costa Rica has a strong growing economy and one of the highest literacy percentages in the world.
For a FREE Consultation please contact Kevin Walters Kevin@CostaRicaInvestmentProperties.com CR Direct: +506 8433 5683 WhatsApp: +506 8433 5683 US Direct: +1 480 525 2660 Skype: john.kevin.walters
