What kind of title will I own when I buy in a condominium?

When you buy a condominium unit, you acquire individual and absolute title to the particular space which your unit occupies either a townhouse or an apartment. In addition, you own an undivided interest - collectively with all other unit owners in the condominium - in all of the "common" parts of the property, such as the land, main walls, roofs, halls, lobbies, stairways and other parts of the condominium property used jointly by all owners. Your ownership of your unit is as complete and absolute as ownership of a house and lot. You have title to your unit just as you would have title to a single family home - with the same legal status and financial advantages that are held by the single-family home owner.

One of our affiliate partners, GoDutch Realty, was recently approved by International Living® and their commercial division Pathfinder, as their representative for the Central Valley of Costa Rica. The next International Living® convention will be in Cancun, Mexico 21-25th February 2012 and we needed to decide for a good sample of properties for sale to promote there.

Since we are a Costa Rica real estate company and not a free tour company, I had to find a way that those clients looking at Costa Rica as their retirement destination would not ask us to be shown all over the Central Valley while looking at 150 properties each. About half the 1,700 properties we have for sale on our Costa Rica real estate website are located in the Central Valley and therefore I decided that around 40 properties in different price ranges, building lots as well as homes for sale and maybe a couple of commercial properties would give us a good choice to present to the International Living clients who registered for the convention.

and take advantage of our special packages in Costa Rica hotels and rent-a-car.

The American-European Real Estate Group and Vacation City offer our Costa Rica real estate clients incredible advantages in those areas where we have affiliate offices and realtors.

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The last couple of years have seen a surge in foreigners living in Grecia. From Europeans to Canadians to of course any ex-pats, Grecia is a very attractive place to retire and live in peace. With a great climate, views from many of the ridges and exceptional shopping and entertainment opportunities, it is no surprise that Grecia is the new hotspot to buy Costa Rica real estate.

Real estate prices in Grecia have remained steady throughout the economic turmoil that we have experienced around the world in the last couple of years. One reason for this is that the prices never really became overpriced as they have in other parts of the country. Even Costa Ricans can see the value in the land in this fertile area. Sugar cane, coffee, and great infrastructure make this area still extremely valuable to locals as well as investors.

Your American-European real estate agent can help you determine the best route for Costa Rica mortgages or financing according to conditions in the market and your personal situation when you buy Costa Rica real estate.

In todays’ market, if you are looking to purchase a property through mortgage financing with a Costa Rican bank, you need to either hire a real estate agent who is up to date on getting a mortgage for you or you need to do due diligence with all the banks and find out their requirements.

Mortgages in Costa Rica usually have a much higher interest rate than mortgages in the US. Costarican mortgages are tied into New York Prime rate and in January 2012, NY prime is at 3.25%. Most banks in Costa Rica charge somewhere around NY prime + 6. Mortgage Loans go between 15 and 30 years, depending on your age.

If you are looking to get a mortgage for Costa Rica real estate, you need to fulfill several requirements. The most important one is that you need to be a resident of Costa Rica or you have to buy cash. Very few banks will give a mortgage to a non-resident.

Our Mortgages or Financing in Costa Rica article explains all about the options you have for getting a mortgage when you are purchasing a property in Costa Rica and you can also read up on the different mortgage conditions that Costarican banks can offer.

The Costa Rica banking system offers quite a few options but you will either need to check with every bank what their requirements are or you need to have a good real estate agent, preferable one affiliated to the American European real estate group.

If you plan buy a Costa Rica property with a mortgage from a Costarican bank, you need to have a hard look at the conditions each bank will give you.

Getting a mortgage in Costa Rica is very different from many other countries because we don’t have any mortgage brokers in Costa Rica that offer their services. Most banks in Costa Rica will not loan you any money on a property you buy in Costa Rica if you are not a legal resident.

The reason is that Costa Rican banks do not pay any commissions to a mortgage broker.

So if you want to get a mortgage on the Costa Rica real estate you are buying you either need to do a lot of due diligence or you need to get yourself a very good real estate agent who knows his/her way around.

By Ivo Henfling for the Easy Times

Buy Costa Rica real estate in your IRA or 401K portfolio and even in your Canadian Retirement Savings Plan (RRSP).

You have your money in the wrong place! Think of your retirement now. Make between 6 - 8% return on your investment (ROI) and still have something to leave your children and it's tax free!.

All inherited IRAs are subject to annual IRS minimum required distribution (MRD) rules, but these are generally based on the inheritors own life expectancy.

This enables continued investment in an Inherited IRA without the impact of immediate taxes, so that you can potentially maximize these inherited assets.

North American restaurants in Costa Rica, all located on the west side of San Jose. This list of specialty restaurants was put together by Vicki, the Sarong Goddess, in cooperation of Daniel Langlois, our specialist in homes for rent, who offers the best of rental properties on the west side of San Jose.

If you need to rent a home in Escazu or a Condo in Santa Ana, Daniel is the specialist you should contact now.

Vicki the Sarong Goddess has been able to give us some real expert comments on the quality of the food and the restaurants itself.

Go check it out, Vicki's comments are RIGHT ON

With all of the chaos that comes with setting up new digs, you might think that changing your address is an insignificant item on your checklist. Allow me to give you some 10 helpful tips to make changing your address a little easier.

When you move to Costa Rica and buy a property or rent a home, you want to be a legal resident of Costa Rica. Read the following information if you are planning to retire in Costa Rica.

To be able to apply for residency in Costa Rica as a “Rentista”, the applicant must demonstrate a permanent fixed income of at least US$2,500 per month. This amount includes the applicant, their spouse and the children which are under the age of 25 and live with them in Costa Rica.  

The Rules and regulations for immigration and residency in Costa Rica change continuously. Although we try to keep the information on this website up to date, please make sure you check all information on this page with any of our recommended residency attorneys.
 

We have decided to update you on the different ways to apply for residency in Costa Rica because most of our clients who move to Costa Rica and buy a home or rent, need a friendly hand to make their move to Costa Rica legally a reality.

This residency in Costa Rica applies for those who have a permanent fixed income from a pension or similar retirement income of at least US$1,000 per month. The typical applicant in this category has to have a government, private sector pension or social security retirement benefits. This amount includes the applicant, their spouse and the children which are under the age of 25 and live with them in Costa Rica.  

If you and your family are planning to relocate to Costa Rica,there are many different ways of making your investment in Costa Rica if you want to apply for legal residency.

The applicant of a temporary residency in Costa Rica as an investor (Inversionista) has to demonstrate the Department of Immigration that they will be coming to Costa Rica to invest in the country.  The law specifically excluded personal investments in the past, such as the purchase of a home in Costa Rica, lots or buildings to qualify for this category, but on August 28, 2009 the Director of Immigration issued Circular UPI-239-2009-LAS which modified the types of investment that could be made to qualify for this category.    

The circular UPI-239-2009-LAS states as follows:

When you plan to move to Costa Rica, no matter if you are going to retire in Costa Rica, plan to invest in a business or work as a manager of an international company, you will need to apply for residency.

There are lots of people who stay here as a perpetual tourist and leave the country every 90 days, but in the long term there are better solutions than that. To make it all easier to understand, we have decided to put it all together for you in a series of blogs.

Note that those who purchase Costa Rica real estate can apply for Costa Rica residency as an investor now. Ask your American European real estate group’s affiliate about it.

Moving to Costa Rica is easy, becoming a resident is not, unless you know how to apply for it.

To be able to apply for a permanent residency in Costa Rica for having family ties (vinculo), the ties needs to be a father, a mother, a daughter or a son.

This is a good option for the younger couples and the single ones who move to Costa Rica thinking of starting a family. Many young couples have opted to have their baby(s) in  Costa Rica because if gives the baby automatically the Costarican nationality by being born here an dthe parents a reason for getting permanent residency.

The Rules and regulations for immigration and residency in Costa Rica change continuously. Although we try to keep the information on this website up to date, please make sure you check all information on this page with any of our recommended residency attorneys.

Many of our US expats living in Costa Rica might not know that the United States Congress quietly slipped Fatca into a jobs bill last year. This legislation is meant to help the United States government locate overseas assets of American tax cheats.

Between the US government and Costarican government, they’re doing everything they can to keep tabs on everything you do and especially on how much money you earn. Just last year, the Costarican government created the Dimex residency card through which they will be able to control your banking business in Costa Rica.

Of course, those who don’t have anything to hide don’t have to worry about anything, which is the large majority. The New York Times, on the 27th of December published a long article about Fatca with the title “Law to Find Tax Evaders Denounced“.

Cinema Jaco is finally open! Thanks to the investment of almost $1 million by a Grecia originated company, Jaco Beach has opened its doors to a brand new movie theatre and I´m proud to let you know that this now makes Jaco the first and only beach town in Costa Rica with its own cinema with no less than 4 movie screens.

The CitiCinema Jaco has a 316 person capacity and the largest screen can fit up to 150 people and showcase 3D movies. This is great news for movie lovers, no longer do we have to drive an hour to San Jose to benefit from the comforts of an air-conditioned movie theatre and enjoy the latest showings.

You are investigating the purchase of Costa Rica real estate, but before you move to Costa Rica, you would of course like to know what is waiting for you tax-wise. If you move to Costa Rica or buy real estate in Costa Rica, do you need to pay taxes or not?

Capital gain taxes

Let's start with the best news: Costa Rica doesn't have any capital gain taxes, which makes it a great investment environment. When you retire to Costa Rica, no matter which country you come from, you probably pay taxes on your retirement income already. 

This exempts you from paying income tax in Costa Rica. Yes, retirees in Costa Rica do NOT pay any taxes on their foreign retirement income.

Before you plan to move to Costa Rica and you do your due diligence online, I'm sure you'll find some online Costa Rica forums that have interesting information and some other where you will find great info once in a while but don't let the bitchin' that's going on there scare you off.

The American European Real Estate Group offers you, the reader, an excellent online forum that is full of Costa Rica real estate information and other stuff. I try to keep up with questions and answers on different forums, which is where I get lots of ideas for my blogs and newsletters, which is where I found 'a good deal' too.

You'd be forgiven for thinking that the only way you're going to end up owning a luxury villa is if your numbers come up.  You are successful in your career but you don't earn the million dollar wage packet that will buy you the vacation palace In Dominical, Costa Rica you have always promised your family. Well, living the luxury vacation home dream is a lot more accessible than you might think.

Imagine being able to own a million dollar coastal property for a fraction of its market value, its time to consider the real benefits of investing in a fractional property in Costa Rica. Fractionals give you the opportunity to maximize what you get in return for your investment.
But what are the real benefits of the fractional property ownership system?

Fractional Costa Rica coastal properties are becoming a popular choice for property investors who don't want the hassle and expense of being the sole vacation home owner.  The property management company take charge of the maintenance and housekeeping which are included in the fractional price you pay for your residence.  This is the ultimate in hassle free vacation home ownership.

I wrote a blog just this last week about the approval of the new tax on corporations in Costa Rica which you can read on my own companies´ website.

Today, I’d like to give you my opinion, the opinion of a Costa Rica real estate agent, how this new tax can interfere with your business or with the car or property in Costa Rica you own.

I really don’t think the Costarican government came up with this scheme to charge taxes on corporations to get rich. Soon, they’ll find out that maybe half the corporations that are registered were abandoned by their owners. Get a better idea of what this new tax on Costarican corporations can mean to you.

I would go for the builder! For the same reason that I would not buy real estate in Costa Rica from an internet marketer either. 

When you are looking to buy real estate anywhere in the world, but especially in Costa Rica, you have to  look through the beautiful words and incredible pictures that are probably taken elsewhere and that show renderings because they probably don´t have more than some land in the middle of nowhere.

Our AE affiliate agents throughout Costa Rica do NOT show the properties they offer for sale with incorrect information and pictures about the property and false promises.

 IV. Real Estate Commissions and Attorney Closing Fees

The Costa Rica Real Estate Agent should ensure that the real estate commission agreement is specified within the Buy - Sell Agreement (also called option to purchase - sale agreement) signed by the Buyer and the Seller.

The agent should include provisions which contemplate a commission split in the event of a default by the Buyer. We also include a clause which authorizes the escrow agent to disburse the commission directly to the real estate agent simultaneously at closing.

 

West side of San Jose Fresh Fruits and Vegetables Open Markets and Fresh Flowers where and when.

Many of our newcomers don´t know that the Costarican farmers markets are quite famous for their fresh fruits and vegetables. You can of course buy these in your regular grocery market and many might think it is too much work to go to a different place to buy your Costa Rican fruits and vegetables.

a- Organic vegetables and herbs Buena Tierra Organic produce Come to our weekly organic market and try our great selection of organic vegetables and herbs. Also goat cheese and yoghurt, natural soaps and chocolate!! This is held every Wednesday 8:00 to 11:30 am 50 meters north of the Cemetery in Escazu (opposite the Red Cross building) in the gardens of the Public library.  For more information email buenatierra@hotmail.com

After seeing and hearing about Walmart when I was at home near Sabana, felt I just have to write about supermarkets in general and particularly grocery shopping in Costa Rica. There are so many myths and strange ideas here.  Maybe it is my partly Scottish blood coming out but I hate to pay more than necessary. It is surprising many locals just dont even compare prices.

Walmart in Costa Rica has lots of discounts but is still higher priced. They mention over 4000 articles discounted in their advertising. One discount I saw was down to ¢3220 in very large print (down from 3254 colones in very small print, which is 1%). The signs cost more than the saving! They are probably fooling many, but do have a good variety and some real discounts.

You are ready to purchase Costa Rica real estate and you want to take the property off the market by depositing the earnest money. Where do you deposit that money? Does it work the same as it does back home? In another article about the use of escrow services when buying Costa Rica real estate, I pointed out that you have several options of using escrow in Costa Rica (or trust account) when you have made the choice of the property you plan to purchase. Some real estate agents in Costa Rica has a different opinion about what should happen with the earnest money when the buyer and the seller sign a reciprocal purchase – sale agreement, but I’ll leave it to you, the buyer to make the right decisions. These articles are only meant as a guideline for the buyers and sellers alike, in a country where there are no defined rules and licensed real estate is not obligatory.

What are your options when you have to choose your escrow agent?

Costa Rica doesn’t have escrow laws like the United States has, but because there are so many foreign buyers of real estate in Costa Rica, some real estate attorneys as well as some title companies offer escrow services, though most call it a trust account. If you are planning to purchase a home in Costa Rica and you don’t already have the amount needed for the purchase in a Costarican bank account, there are some steps that I can recommend that will make your purchase easier on you.

1.    Make sure you deal with a real estate agent in Costa Rica who knows what escrow is.

2.    Make sure you already know your real estate closing attorney has an escrow account and he/she has a good reputation.

3.    Make sure your real estate agent writes up the offer, including all the necessary details. Once approved by both you and the seller, the agent should get your real estate attorney to write up a reciprocal purchase - sale agreement that points out all the details of the purchase.

Almost everyone who writes articles for the expat community in Costa Rica or for those baby boomers who plan to retire to Costa Rica soon, have already written about the rainfall in Costa Rica, published pictures about the mudslide in Santa Ana and other disasters in the rest of Central America.

This month, I would like to attack this issue from a different and unusual angle: a real estate agent's angle. The Costarican rainy season damages property pretty fast and I want to tell you what to look for and what to do when you're buying property in Costa Rica from now on.

The weather is changing everywhere in the world and rainfall has doubled over the past two years in Costa Rica. Third world countries don't think ahead, they fix the problem when it is too late. In Costa Rica it is the same thing.

Different classes, workshops and journeys by Janine Fafard

Janine's TURYA  workshops and yogic journeys are accessible to all people and easily adapted to special groups, organizations and conventions. These workshops are offered in different formats, from a 2-hour session to a full day retreat. The yogic journeys through Costa Rica range from 2-days to a full week. Janine's meditation/yoga room is set up to provide a space for a short yoga break or private quiet time in the midst of your busy conference schedule.

Behind the structure and the content of each of these services is one single purpose: the UNION of your body/mind and soul to help you reconnect with your INNER PEACE & JOY! Janine Fafard offers simple tools to free you from the yoke of your fears and trapped emotions and awaken your inner guru. All workshops and journeys can be requested in English, Spanish and French.

The American European Real Estate group with 24 real estate agents selling luxury Costa Rica real estate from coast to coast "the right way" offers you more information on the classes and workshops that Janine Fafard has to offer below.

When you retire to Costa Rica or are looking to purchase a 2nd home or vacation home in Costa Rica, you will have plenty of time to play golf in Costa Rica and enjoy the beauty of the country. Many of you will have played on different courses throughout the world, but the beauty of playing any of the golf courses in Costa Rica, surpasses that experience.

The advantage you have when living in Costa Rica is that you will be able to play in incredibly different environments in different locations, only a few hours away from each other. Each location will be a new adventure. And every time you go play golf on a different golf course in Costa Rica, you can take advantage of the special offers we have for you through our affiliate partner Vacation City. And while you are at it, make sure you touch base with our affiliate real estate agent in each location so you can see what is available in the area in case you would like to buy Costa Rica real estate there.

In January of 2010, the new Caldera highway linking San Jose to the Central Pacific Coast was officially opened, changing the outlook for real estate in Jaco Beach and the surrounding areas. The new highway makes the drive from Jaco to Escazu, the popular upscale suburb of San Jose just about one hour, a journey that was previously almost 2 hours.

Highway opens up Jaco Beach area

While Jaco was already the closest beach town to San Jose, an easy one hour drive now makes it very convenient to travel from the city to the beach for a quick day trip. Jaco is also experiencing significant increases in rental revenues specifically with the local market from San Jose on the weekends due to the ease of access.

This is a question I'm asked quite often because I sell property in Cariari, Costa Rica. 

I've also noted that those people who have owned their own home in Costa Rica for a long time have a harder time adjusting to the idea of renting. Some hate the idea of living in something that's not their own- it would be like putting on something that doesn't fit.

Others hate the idea because the thought of putting hard- earned money into someone else's pocket is akin to throwing away the money.

I am a Cariari real estate agent and I have also built homes and fixed up homes in my area. In this article, I'd like to tell you a bit about fixer uppers in Costa Rica. There are two kinds of renovations you can make to Costa Rica real estate.

The Home Uplift

The first one is the one I like to call a home uplift. This is the kind where you’re changing tiles, kitchen cabinets, ceramic flooring, changing the roofing tiles or metal sheeting, etc. These kinds of renovations are, for the most part, easy and do not cause too much pain. No municipal permits are required and most of the work is usually done by contract, i.e.  you contract out the tiling work by the square meters, and the kitchen cabinets to a cabinet maker, etc.

As a buyer of an apartment in Sonesta One Jaco, I received an email from the Developer, Joshua ten Brink of Riverside Developers during Eastern Week, saying that he is suing the bank who lent them the money to build the project of One Jaco Place in Jaco, later Sonesta Jaco Resort. The reason, he alleges in his email to those who bought a unit or put earnest money down against an option to purchase/sale agreement is that the bank who lent him the money (BCIE) because the are changing the rules on them and they can not afford to finish the buildings.

Meanwhile, some of us closed the purchase and some others have paid the earnest money, will not close or cannot close for one reason or the other and the whole project will be tied up in court for who knows how long. I, as a owner of real title (our unit is totally finished and we furnished and equipped it) now have an apartment in an empty and unfinished building which I cannot rent or even when I use it myself, the elevators will not work half the time, or I have no hot water and a long list of other issues.
 

Do you see the smile on this face?  That smile is because Costa Rica took top honors in the latest Happy Planet Index, which reports Costa Rica as having the highest life satisfaction in the world, the second-highest average life expectancy of the Americas (just behind Canada), and a respectably low ecological footprint.  It's interesting to note that the report states, "The three largest countries in the world, China, India and the USA (all aggressively pursuing growth-based development models), have all seen their [Happy Planet Index] scores drop."  The United States ranked 114th in the index.

I am a Costa Rica real estate agent and I see real estate listings all the time. And when I list a new property for sale on our website, I try to look at the listings from the eye of a buyer: Would I click on this to see more of the property?

A real estate agent is neither a photographer nor a writer and it is not always easy to make a nice write-up and a good photo presentation of a property for sale. Many properties just look terrible and the realtor has to make the miracle happen. Besides, in Costa Rica we don’t have exclusive listings in most areas and a property for sale will be listed by multiple real estate agents even though we have an MLS. So why bother to spend a lot of time on making a listing look good if every real estate agent in town has the same listing? That’s what a mediocre real estate agent would think. The photos below, all show lack of interest by the listing agent to my opinion.

It is no secret that Costa Ricans are some of the happiest people on earth. And no wonder they are so happy, they live in paradise! With a gorgeous climate, beautiful scenery, fresh fruits and vegetables all year long, and lots of fun places to explore, who wouldn't be!

This is the country of peace, and more biodiversity than almost anywhere else on the planet. You can wake up and see the sunrise in Limon on the Caribbean side of the country, and drive to the Pacific for the sunset!

So for those of you who plan to buy real estate, or are thinking of relocating to this tropical treasure, I'm sure you are wondering how you can tap into this Pura Vida feeling. I think there are four important aspects to being happy here. The first and most important is to try to communicate with the Ticos. Even if you are not fluent in Spanish, if you try, it will be appreciated. Once you can start talking to the Ticos, you get in on all the secrets of this beautiful country.

When I first moved to Costa Rica in 2004, my wife and I would walk the beach nearly everyday. One morning I had a feeling of being transported back to that 70's tv show, Gilligan's Island when I found myself watching a man climb up a palm tree, knock down a few coconuts, cut the top and then drink the liquid inside. It seemed so alien yet exotic and it brought a bit of childhood nostalgia back. It reminded me of those countless episodes when Gilligan would be lounging on the beach and coconuts would be falling on his head waking him out of his languishing dreamy state.

Who would know that some months later, even before I got involved in Costa Rica real estate, I would be living in Costa Rica and sitting on the beach watching a guy grab a "drink" from the nearest palm? It prompted me to ask what he was drinking and what, if any, were the benefits.

You might have never thought about buying a hotel in Costa Rica, but if you are looking for an opportunity to invest in a new business, your timing is right as there is a wide range of Costa Rica hotels for sale. Costa Rica is very centrally located and easy to reach from many large cities in the US, South America and even Europe. Costa Rica, as an eco-tourism destination is placed high on the list of the best vacation destinations worldwide.

The world economic crisis has also put the tourism industry in Costa Rica to suffer. Many hotels and B & B’s for sale can’t make any profits anymore and owners are tired of putting more money into their business year after year. So if you want to buy a business in the tourist industry for very little money, now is your chance.

Sometimes I love that Pura Vida lifestyle, sometimes I just hate it. It is part of life in Costa Rica. But what does it mean? It means a zillion things. The Costaricans and others who live in Costa Rica use it mainly as a greeting, like "hi, how are you".  Or as an answer to the "how are you" it means "I am doing great, I am fantastic, I'm as happy as one can be". It means that life is great. It means a lifestyle that is all about taking it easy, enjoy life. You will find more of the Pura Vida lifestyle around the beach areas than in the cities, but as a greeting it is used in both.

Wikipedia shows it means the following, though I agree only partially: Pura vida literally means Pura = pure and vida = life, but "Pure life" in Spanish would be "Vida pura" instead, so the real meaning is closer to "plenty of life", "full of life", "this is living!", "going great", "real living", or "cool!"[1] It can be used both as a greeting and a farewell, to express satisfaction, to politely express indifference when describing something [1] or even to say "thank you". Wikepedia gives a pretty complete explanation of it.

Why you need to learn Spanish when buying Costa Rica real estate? People throughout the world are learning Spanish in record numbers!

It is estimated that Spanish is spoken by at least 350 million people around the world and is currently the 4th most commonly spoken language in the world (after English, Chinese and Hindustani). It is the official language on four continents; including Costa Rica.

If you are traveling to or living in Costa Rica now is a good time to learn Spanish. In addition to being able to hear, see and practice your new language skills, here are a few other reasons to learn Spanish:

This was a big turnaround on services because it obliged the state owned banks to train their employees to become service minded and especially the business community started moving over to private banking. For years, most businesses had to have messengers just to stand in line for hours at the time, so they could make their deposits or pay their utility bills.

Buying a car in Costa Rica, bring your old one or take the bus is a major decision when you move to Costa Rica. One option is to use the excellent public transportation system. If you will be living in San José and don't have experience driving in Costa Rica, this would be an excellent choice, particularly until you get your bearings. If you do decide that you want your own vehicle, here are the kinds and brands you should consider, where you should purchase it and some common pitfalls you can avoid. You also need to be informed about the "marchamo" or Costa Rican road tax that can pay between the 3rd week of October until the end of January. You can check on how much you have to pay online.

Buying an existing business in Costa Rica might be a good option for you if you are planning for a new life in a different country. Our Costa Rica real estate website offers a wide range of existing businesses and offers you tips on buying a business in Costa Rica. If you want to start a new business, this checklist will give you a good idea of permits and licenses you may need in order to run the business.

There are many advantages to starting new business or purchasing a new business in Costa Rica, you only need to make sure you do your homework and then take an educated decision. Often a product or service that is commonplace in other countries is not available here, so you can be successful here with a product that has a proven market elsewhere. But be careful, this is where you will need an experienced real estate agent because you might be totally mistaken about the need for this kind of product as Costa Rica is a different country, with a different language and different people and needs. 

Before closing on a property in Costa Rica, you should make sure you get a serious home inspection. You’ve found this great bargain property in Costa Rica and you are sure you’re going to save yourself lots of money buying this property. Should you just go ahead and buy it or have a better look at it by hiring some expert advice?  Of course you know this guy who knows this guy who knows about construction.

Many buyers of Costa Rica real estate don’t realize they have the option of having a Costa Rica home inspector do a professional home inspection of the property they are interested in buying. Buyers who purchase on FSBO have simply less options of negotiating a property in Costa Rica. This is because you don’t know the customs, the country, the language and the way of doing business. The seller is definitely not going to tell you either. An experienced and reliable realtor knows how to write up an offer and include issues like who is to pay for the cost of the option to purchase agreement, pay for the closing, do a property title check and get a home inspection.

When purchasing a Costa Rica property in a corporation you can easily make huge mistakes. These mistakes are generally made because of the lack of information you receive, because your Costa Rica attorney doesn’t volunteer them, or your Costa Rica real estate agent doesn’t know. Many properties in Costa Rica are owned by a corporation, called S.A. which stands for Sociedad Anónima. One of the main reasons for buyers to purchase their property through an S.A. is the liability factor.

In an S.A. the ownership depends on who owns the shares. Ownership only shows in the shareholder book, which is private and not public information. For many years, it was easy to hide your money offshore through owning real estate in Costa Rica in S.A.’s and not tell the I.R.S. about this but FATCA and the anti-money laundering laws, make this almost impossible now.

Now there are new opportunities for Costa Rica real estate investors and everyone who works in the Costa Rica tourist industry. Recently, Costa Rica was selected as the Best Tourist Destination 2011 by Apple Vacations. Apple Vacations is one of the largest tour operators worldwide and has been operative for 42 years seeing incredible changes in this market.

This is the first time that our country wins this prize, which was based on a poll for hundreds of clients of Apple Vacations where satisfaction was measured and the probability of recommending Costa Rica as a vacation destiny to friends and family.

Can you compare Costa Rica real estate with Florida real etate? An article in an online newspaper on Florida real estate this week, gave me a good reason to follow up on my last week article “Should Costa Rica real estate adjust its prices or not”. I am shocked at how little the Florida market has improved while the Costa Rica real estate market has improved incredibly. But most importantly, the Costa Rica real estate market has never suffered as much as Florida and some other markets have. It’s a matter of sheer numbers.
An October refurbish from Chip Rowand of the Keyes Co. in Weston, Florida shows that Broward County has 13,480 single-family homes and condos for sale. In Palm Beach County, there are 15,782 homes and condos on the market. Those totals are half of what they were a few years ago, Rowand said.

Costa Rica real estate does not adjust its prices for a several reasons. Scott Oliver’s wakeup call in his We Love Costa Rica newsletter about sellers of properties in Costa Rica who need to get “real” about their sales prices is one of many who complain about the real estate prices in Costa Rica not coming down as expected. An email from our Heredia real estate affiliate partner Xinia Salazar about a discussion she had with a “motivated seller” made it even more obvious there is need for an explanation why the prices of Costa Rica real estate, stay the same as they were before.

High real estate prices

Let me explain. Scott Oliver, in his article, is telling the sellers of Costa Rica real estate, that they should adjust their pricing to the reality of a world crisis. While buyers are not standing in line to purchase property that is not a bargain, sellers still want to have the real estate agents take the listing at high prices. Scott is telling the sellers in his article that if they are not motivated, they should not list their property.

Now, there are new opportunities for Costa Rica real estate investors and everyone who works in the Costa Rica tourist industry.

The incredible news is that we can now offer you better investment opportunities by listing these Costa Rica condos with financing for non residents.

The second best news is that recently, Costa Rica was selected as the Best Tourist Destination 2011 by Apple Vacations. Apple Vacations is one of the largest tour operators worldwide and has been operative for 42 years seeing incredible changes in this market.

Buying Costa Rica real estate is not so easy to do it on your own, especially when you are making the purchase without the involvement of an experienced Costa Rica realtor. When My wife and I drove to Nativa Resort a couple of weeks ago, I noticed that on the new highway to Caldera, the Autopistas del Sol concessionary was doing landslide prevention different ways.

The concessionairy sprayed liquid concrete on the hillside and drilled pipes into the mountains to take the water out and through the concrete, when they re-did part of the highway at the Sabana and Escazu turnoff.