Frequently Asked Questions about buying property in Costa Rica
Buying Property in Costa Rica
Is Costa Rica a good place to invest?
There is no unrest, riots, or protests like in many Central American countries. This not only makes Costa Rica a good place to invest, but a good place to seek residency as well. ... The country is quite profitable as well, with a 15-20 percent return on investment recorded from 2000 to 2008.
Is it best to own my home in the name of a corporation or personally?
There are similar benefits and layers of protection of owning an asset in the name of a corporation in Costa Rica that are very similar to those of owning something in a US corporation. Our legal team will help you to determine what the best solution is for you, to which you can then verify with your lawyer and accountant back in the US.
I want to buy land now, do I need to build a house right away?
No, it's not required, this is all up to your plan. We encourage building as quickly as possible as building materials and labour are not getting any cheaper. If you are not going to live in your home right away it could be used as a vacation rental to offset costs and build equity in your investment until you're ready to move in yourself. Our property management partners can take care of this for you.
Is Costa Rica a good spot to own a vacation rental?
As a basic rule of thumb for South Pacific Costa Rica vacation rental properties in recent years, you can expect an annual net return of 4 – 6% on your investment. According to local property managers, on average, a good rental property will rent for about 65% of the year. But these figures can climb as high as netting an 8 – 10% on investment if you build or buy the right kind of rental for the growing premium rentals market.
Can I purchase my land and/or home using cryptocurrency?
Yes, we currently accept BTC, ETH, and USDC as acceptable forms of payment.
I want to plant landscaping and a food forest on my property, how can I make this happen while I am in the US?
If having a food forest is part of your plan, we encourage and can begin planting the forest as soon as you close on the purchase of your property. Once the site plan is completed, our team can start planting the landscaping and forest around your future building sites.
Who maintains the landscaping and food forest?
If you are not going to live on your property we have maintenance packages available from a simple machete cleanup up to more comprehensive packages that will give you a resort feel upon your arrival.
I want to buy a big piece of land, maybe use it for development one day, is this something you can help me with?
We offer limited partnerships for investment opportunities and can tailor each opportunity individually to meet the objectives of our investors.
Does buying real estate make me eligible for citizenship?
Investing in Costa Rica is one of the ways to obtain citizenship. If you are interested in becoming a Citizen, there is a process in which you need to follow. Our legal team can assist you with this process.
Building a Home in Costa Rica
Once I buy land, how long does it take to build a house?
Once your land purchase is closed, your project is typically started within 6-9 months and is typically completed within 12-18 months. As always, this is subject to weather. It rains a lot here…
Do I need to be there during construction?
No, we will provide you with photo updates on a biweekly basis. If you are one that likes to be involved in the process by having boots on the ground, we encourage that. The more you put into your project, the more you will get out of it.
Do you have multiple builders to work with?
Yes, we have several preferred builders we work with, each who are specialized in different types of building styles. We will match you with a builder that will be best suited for your style.
When Building a home, how do we decide on all the final finishes?
All of your finishes will be established and decided upon during the design phase of your project.
What should I look for when considering building a rental home?
South Pacific Costa Rica is where the peace and tranquility of a beautiful jungle property can be a big draw for nature lovers who come here for our ecological reputation. Close proximity to a river, especially one with a waterfall, and to the beach are highly preferred features for those wanting relaxing vibes and a multitude of animal sightings. Still, there is nothing like a jaw-dropping ocean view from the mountains of Dominical. This mountainous region faces the Pacific Ocean and is fast becoming world-renowned for its powerful views of vivid green jungle leading out to the azure coastal waters.
Once my project is under construction, how am I kept informed of the progress?
Our Project Manager will keep you informed of the progress with bi-weekly emails with pictures of the progress. In addition, we are always available to discuss your project with you at any time.
What Should I Know Before Visiting Costa Rica?
Do I need to be vaccinated to travel to Costa Rica?
Not for COVID. But if you are not vaccinated, you need to sign the health declaration page with the minister of health and purchase mandatory travel insurance to enter the country. Yes to others. The following vaccines are recommended or required for Costa Rica. The CDC and WHO recommend the following vaccinations for Costa Rica: hepatitis A, hepatitis B, typhoid, yellow fever, rabies, meningitis, polio, measles, mumps and rubella (MMR), Tdap (tetanus, diphtheria and pertussis), chickenpox, shingles, pneumonia and influenza.
When I come to Costa Rica, do I need to speak Spanish?
Costa Rica's primary language is Spanish so it would really help if you could churn out a few words. But if you're traveling for a standard family surf vacation, you can probably get away without learning Spanish. Many expats get away without ever speaking a word of the language as English has quickly become the second most popular language among the locals.
When I come to Costa Rica, do I need to exchange my money?
While you can exchange money at banks or at the airport. Nearly everybody accepts the U.S. dollar, so if you have dollars, you do not need to convert it. $20 bills are ideal to carry. You will usually receive change in local Costa Rica colones. Best rule of thumb is to use a credit card wherever possible.
What are the prices of things in comparison to America?
The cost of living for Costa Rica in 2019 was 26.81% lower than in the United States. For many these statistics have little value because they came seeking an improvement in their quality of life, not to save money. The sunsets, beaches, national parks, beautiful people, fresh fruits and vegetables year round, incredible wild animals, fabulous weather, superlative health care, a stable government, and other benefits they feel are priceless.
Will my cell phone work in Costa Rica?
Costa Rica has some of the best cellular service in the world. Their infrastructure for digital communication never existed until a few years ago and was developed using the latest technology. When you travel, be sure to upgrade your plan with your carrier to international service and you will experience high speed 5G connection throughout your stay.
Is there Wi-Fi service available?
Most vacation rentals are equipped with high speed wi-fi connections.
What is there to do in Costa Rica?
Costa Rica's strikingly diverse terrain – lush forests, wildlife reserves, and tropical beaches – offers a little something for every traveler. Whether you seek sun, nature or adventure, there's much to discover in this paradise. And if you need a little guidance navigating the country's abundance of natural wonders, we would recommend signing up for a guided tour with @toroamarillo360.
What kind of food do people eat in Costa Rica?
Costa Rican food doesn't often rank as highly since many travelers mistakenly imagine Costa Rica as just another Latin American country of burritos, tacos and quesadillas. But, while not overly complex or aggressively seasoned, typical Costa Rican cuisine is refreshing, varied and delicious. But most importantly it is clean food. A typical “tico” Lunch is called a Casado. More of a combination platter than a specific recipe, casado brings together cooked rice and beans (which are sometimes mixed together, but more often served apart) with a green or pasta salad, plantains and a meat (fish, chicken, or beef). And due to its abundance fresh fruit and smoothies are often part of every meal.
I want to buy a property in Costa Rica, but am concerned about safety. Is it safe there?
Yes it's safe. Tourism is vital to Costa Rica’s economy, and so the country is heavily invested in protecting this industry. When traveling to Costa Rica, use the same common-sense rules you’d use in the US. Petty theft can happen anywhere. So, don’t leave valuables in an unlocked car or hotel room. Don’t carry around huge wads of cash.
Costa Rica has no military, what keeps the relations sound with its neighbouring countries?
Costa Rica is a valued strategic partner of the United States, their values promote prosperity, good governance, and security—the three pillars of the US Strategy for Engagement in Central America (the Strategy)—throughout the region.
Is Costa Rica a well educated country?
Costa Rica is a well educated country. Throughout the 1970s and ’80s Costa Rica managed to stay relatively peaceful compared with its war-torn neighbours. It has one of the highest literacy rates (more than nine-tenths) in the Western Hemisphere and a solid educational system from the primary grades through the university level.
What is the overall size of Costa Rica?
Costa Rica is 19,716 sq miles, or similar in size to West Virginia, USA.
Is marijuana legal in Costa Rica?
The consumption of Cannabis in Costa Rica is nominally illegal; however, personal consumption does not carry any criminal penalties. The sale of marijuana, however, can be punished criminally.
Transportation in Costa Rica
What is the best way to get around Costa Rica?
Rental Car. Be sure to get a 4x4 or at the very least all wheel drive. While most of the roads are decent, you may encounter some rougher than normal roads along your journeys. Having a 4x4 may even expand your horizons by going places inaccessible with 2WD. Using the app WAZE makes it very easy to navigate around all parts of Costa Rica.
As a foreigner, can I purchase a vehicle in Costa Rica?
Buying a motor vehicle in Costa Rica by a foreigner is permitted, but as with the purchase of real estate, may present some unusual title search and transfer of title problems. We recommend as a purchaser to retain the services of our legal team to advise on and carry-out the transfer process. A transfer tax of 2.5% and a registration fee of .05% of the purchase price must be paid, along with a number of documentary fees, at the time of the registration, in the National Public Registry.
Can I import vehicles into Costa Rica?
Importing a car to Costa Rica is actually very easy. There are many reputable car importers. And, if you can get the vehicle to the boat in Miami, it’ll only cost you about $1,000 – even less. You’ll meet it a few weeks later in Limon or Moin, ports on Costa Rica’s Caribbean coast.
BUY. SELL. INVEST. DEVELOP.
Get in touch with us today
Don’t hesitate to reach out to us with questions about Costa Rica land development, investment or real estate. We’re always interested in sharing our local knowledge and helping you join our community.
Located in Dominical, Costa Rica
Call +1 (941) 809-9723