Costa Rica has long made headlines for its strong democracy and great emphasis on peace-centric philosophies. This fact even influenced the video game world, with the 2010 action-adventure game Metal Gear Solid: Peace Walker accurately taking the country's history as a backdrop for its plot. Today, the nation serves as the home of international organizations such as the Inter-American Court of Human Rights and the University of Peace.
The peaceful atmosphere and lush environment in Costa Rica are two factors that can win over investors looking for their own tropical hideaways. The country also has an excellent Happy Planet Index (HPI) score that reflects high levels of experienced well-being and high life expectancy. When you're in the market for coastal properties in the tropics, why not get a realtor who knows beach real estate in Costa Rica? The agent will counsel you on your options, some of which are enumerated below:
Closing The Deal
Property purchases in Costa Rica require survey maps and titles to be present, with title insurance also applicable at 1% of the total property value. Buyers often establish limited-liability corporations to help reduce the property taxes and streamline the acquisition process.
There is no capital-gains tax, but a 3% property transfer tax is slapped on the sales cost. At the same time, the buyer and seller can negotiate to split closing costs. The transaction is then listed in the Public Registry's “Folio Real” database, which keeps track of all property deals in the country. Buyers are required to have their deeds to the property registered upon transfer.
Live and Let Live?
Perhaps you've made a play for some Costa Rica beachfront real estate, but are you committed to making the move? Retirees seeking to live in the country are required to have a pension fund with a monthly stipend of at least $1,000 to have residency status. You should also live in the country for at least four months in a calendar year and enroll in the healthcare system.
Moving to Costa Rica can be one of the best decisions you'll ever make. In most cases, learning the ins and outs of the property market is key to settling there. For more information, log on to therealcostarica.com.
Costa Rica Beach Real Estate: Nurture Peaceful Feelings by t