Benefits of Owning a Costa Rica Corporation
There are several good reasons for registering land in the name of a Corporation rather than the name of a private individual in Costa Rica.
Individuals pay land transfer taxes every time a property is resold. Once the Corporation owns the land, there is no more land transfer tax to be paid since it is the Corporation that changes hands.
An anonymous Corporation, as the name indicates, provides privacy to its owner(s), making it difficult for foreign government offices (IRS: Revenue Canada, etc.) to obtain information about who owns the shares of the Corporation,
thus providing the discretion which many foreign investors desire.
There is no capital gain tax paid in Costa Rica when you sell a property that is owned by a Corporation.
Inheritance taxes in Costa Rica are high, but an Anonymous Corporation never dies. You can rest assured that your spouse or your children can enjoy the fruit of your labor without having to worry about such taxes, as long as you leave them your shares in your will. They can then name themselves to the Board of Directors and
carryon the tradition.
You can insure a higher degree of anonymity for yourself if you create a Panamanian Corporation of which you are the shareholder. You then sell the Costa Rican Corporation to the Panamanian one. Why do this you ask? Not everyone needs it but the laws of Panama protect you against the risk of disclosure of assets owned by any national Corporation. Many of us pay up to 53% income tax back home, so we need all the help we can
Costa Rica is known as the "Switzerland of the Americas" because of its social, political and economic stability. The rights of landowners are highly respected in this peaceful country, where many people have had negative experiences in regards to owning land, the rights of the landholder are established in the constitution of Costa Rica.
You can obtain residency in Costa Rica when you purchase property if you wish.
This gives you access to high quality, inexpensive medical care as well as free education for your children. You do not become a citizen of the country and you never lose the citizenship of your country of origin. Residency is obtained through different statuses, each according to your personal situation (investor, retiree, etc.), Our lawyer in Costa Rica can advise and guide you through the process. You can reside for extended periods of time in the country even without residency. Inexpensive medical
insurance to cover costs of medial attention or hospitalization is available, which allows you to select any public or private medical center
North American Director of Marketing