To continue with small guides on buying property in Costa Rica, here are a few steps to follow in order complete a successful investment. Costa Rica real estate businesses are not so different than any other in the world, yet there are a few things you should take under consideration:

1. Decide if want to purchase property under your name or if want to use an existing corporation. In the case that you are interested in using a corporation and don’t have one, you need to understand the exact protocols and procedures necessary to properly set up the corporation in Costa Rica.

2. Search for a good location. Costa Rica property markets are wide and have many different choices. Don’t be afraid to ask questions and do an extensive research. Some properties may sound like heaven and they could little hellholes described in fancy words.

3. Be aware that the registration process for properties in Costa Rica is still getting updated, so a few properties have not been incorporated to the “Folio Real” system yet and are still registered in special books that can be found in the Public Register.

Stone of Costa Rica

4. If your plan is to purchase a Costa Rica home, keep in mind that Costa Rica has a “Condominium Law” that benefits developers of many different types of properties, residence projects, finished lot projects, condos and more.

5. Last but not least, remember that the law in Costa Rica establishes that foreigners cannot be majority owners of a concession property. However, a foreigner can enter into a partnership with a Costa Rican citizen where the ownership is divided 49% / 51% between the foreigner and Costa Rican partner respectively.

Acquiring a nice piece of land, a home or any type of property in Costa Rica, should be so difficult, find trustworthy legal aid so you don’t find ugly surprises during the purchasing process and make sure the property you buy fulfills all your needs before closing a deal.