What are the closing costs, transfer taxes, property taxes, and other fees associated with purchasing in Pacifico?
Buyers of Pacifico property will be responsible for land transfer taxes and registry stamps totaling approximately 2.3% of the purchase price. Buyers will expect to pay approximately $1000 to the law firm if they elect to take title to their property in either a Costa Rican S.A. or Limitada. Property taxes in Costa Rica are significantly lower than in North America. They are currently set at 0.25% of the registered property value and are payable on a quarterly or annual basis, at the election of the property owner. There are currently no capital gains taxes in Costa Rica on the sale of property or the sale of the shares or quotas of the S.A. or Limitada that owns the property as long as the seller is not in the business of buying and selling real estate in which case he may be subject to Costa Rican income tax law.
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- What are the closing costs, transfer taxes, property taxes, and other fees associated with purchasing in Pacifico?
