About Purchasing Property in Costa Rica
Our properties are registered in the Costa Rican land Registry Office, where each individual lot has its own registry number. Ownership of each property is then transferred to an anonymous corporation, itself registered in the Costa Rican Mercantile (Business) Registry, All of the titles of ownership to the land and registry information of the Corporations are available from each appropriate registry office.
Possession of the
shares of a Corporation that owns a particular property indicates possession of that property. Our lawyer in Costa Rica holds an original of the sales contract and other documents relating to the property and the corporation in his power until you have completed payments for your purchase, His legal obligation is to insure that you enter in full possession of your purchase (Corporation and Property) once the transaction is complete.
Don't forget that we offer an inexpensive yearly administrative package
to take care of municipal (land tax) and national income tax declarations, which every Corporation must present. Since the Corporation does not produce goods or provide services, it is considered inactive and so pays no income taxes, although it must present a yearly income tax report indicating its inactive status. The cost of this service is $145 per year,
North American Director of Marketing