How do I buy and hold land? Can foreigners own property in Costa Rica?
There is no restriction to property ownership by foreigners. Properties are transferred by executing a transfer or conveyance deed (escritura de traspaso) through a notary public. In Costa Rica, all notaries must be attorneys and they are responsible for preparing, supervising the execution and recording of all public registered documents. Property cannot be transferred if the land does not have a registered survey, which must be referenced in the deed of transfer. The national registry reviews the deed and then registers the property in the name of the new owner. The registry will not record a transfer deed without the full payment of the transfer taxes, documentary stamps, notary fees, and property taxes. Transfer taxes and document stamps are approximately 2.5 percent of the registered purchase price and law sets notary fees at 1.25 percent of the registered purchase price. Many investors elect to have a Costa Rican corporation hold title to their property in the form of a “Sociedad
