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6 Mistakes when Using a Corporation for Property Ownership

6 Mistakes when Using a Corporation for Property Ownership

Estimated Reading Time: 5 Minutes For many years, lawyers have recommended the use of a corporation for property ownership for resident and non-resident foreigners. The choice of a corporate structure used to be recommended because of personal liability, estate planning, tax planning, and a few other reasons. Also, real estate developers used to create corporations […]

Considerations for Incorporating a Company When Buying Property in 2019

Current Considerations for Incorporating a Company When Buying Property in 2019

I started practicing law in Costa Rica in 2003. At the time, incorporating, or not incorporating a company in Costa Rica to hold real property and other assets, was a straight forward decision. Property buyers were Incorporating a Company for basically 3 reasons: 1.      Limited liability aspect afforded by the corporate structure, 2.      Anonymity afforded […]

Anonymous corporations are not anonymous anymore in Costa Rica

Anonymous corporations are not anonymous anymore in Costa Rica

Watch the new legal requirements on Anonymous corporations in Costa Rica. In the past, property in Costa Rica was almost customarily purchased into anonymous corporations by foreign buyers. One of the most important reasons was to protect the property for the personal liability of the owner. Another good reason was that several owners could possess a […]

My corporation was dissolved by the Public Registry - did I lose my property?

My corporation was dissolved by the Public Registry – did I lose my property?

Are you amongst the more than 250,000 corporate owners whose corporation was dissolved by the Public Registry for non-payment of the Corporate Tax? If your corporation was dissolved by the Public Registry, what happened to your property? During the real estate boom of 2007-2008, real estate developers set up corporations so that their clients, could […]

Costa Rica real estate through a corporation

Why use a corporation to purchase real estate in Costa Rica?

To use a corporation to purchase real estate in Costa Rica is a pretty common way. The purchase transaction usually goes through a shelf corporation or newly constituted one, called an S.A. For many years, attorneys recommended foreigners to use a corporation to purchase real estate for several reasons. Those clients took the recommendation so […]