How to Buy Real Estate in Costa Rica: Part 1

Buying real estate in Costa Rica can be very lucrative, because in addition to being a beautiful place to live or vacation, the property there can be very, very inexpensive.  All the same however, you need to be careful when purchasing property there, just as you need to be careful anywhere else.  When you are first planning to invest in property located in Costa Rica, you need to know all you can about incorporating, about buying property, and about obtaining your status as a resident of Costa Rica.

Of course, you may not exactly want to incorporate.  Before you even consider it, you have to make sure that there are at least two of you looking to invest, at which point you will have to do so with the Costa Rican Notary Public.  To incorporate, you need to pick an original, unique name, you have to properly appoint a Board of Directors, which needs to have at least three members, as required by law.  There needs to be a president, a secretary, and a treasurer.  You also need a comptroller.  A different person has to be appointed for each position.  No one can take on two roles.

Written by Heather on January 31st, 2009 with comments disabled.
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