Yes, Any individual over the age of 18, whether Costa Rican, foreign national, or tourist can hold land or a vehicle in Costa Rica based on fact that the Costa Rican Political Constitution makes no differentiation based on country of origin.
Questions and Answers
Some of the most common questions you may have
As a foreigner or tourist can I buy property in Costa Rica?
Can I acquire a property under my personal name, even being a foreigner?
Yes. However, a property can also be acquired through a corporation, which is usually recommended to separate possible personal liabilities that may jeopardize the property. If you choose to open a Costa Rican Corporation. Every January, the Corporation Tax is approximately $120.00 USD.
What is important to know when purchasing?
In order to obtain a building permit, you must have viable access to water rights. All of Marbella Group Developments have water rights. Electricity is available to each lot, and certain developments have fiber optic internet speeds of up to 100 megas.
What are the costs associated with purchasing land?
Typically, the attorney will charge 1% fee, and 2.3% transfer taxes of the purchase price
Are their property taxes?
Property taxes are due in March . Property tax in Costa Rica is 0.25% of the taxable value of the property. For a new owner, that value is the purchase price.
Can I open a bank account?
Yes, but you’ll need a few documents in hand, including your passport and letter of recommendation from your stateside bank manager. Banking in Costa Rica isn’t speedy, expect to spend a couple hours completing the process or even having to go back another day.
How long can I stay in Costa Rica each visit?
As a US citizen you may stay up to 3 months, and then you must leave the country for 72 hours and return. Some take a day trip to Nicaragua or Panama, or fly home to the States for a resupply mission. Once you apply for residency, you do not have to leave. Your passport also allows you to drive for 3 months using your US driver’s license. Once your passport is revalidated, you are good for another 3 months.
Are there restaurants in Marbella?
Yes, there are a lot of hidden secret dining spots in and around Marbella. Tiki Hut on Marbella Beach, Coffee and Roll in the center of town, Soda Victoria, Soda Marbella Hardware. Or venture out to San Juanillo, Nosara or Tamarindo.
What about grocery shopping?
In the center of Marbella, there are 2 convenience markets for quick essentials. Nosara has 2 grocery stores, including the Discount Italian Store. In the center of Santa Cruz, you’ll find a butcher, ice cream shop, pharmacies, and . Liberia: Walmart, Pricesmart, Carnes San Martin Meat Market, Islena Gourmet foods, Pequeno Mundo, Sunburst Coffee.
What about Hardware stores?
In the center of Marbella, the hardware store has almost everything you may need. Santa Cruz and Liberia have larger hardware stores.
What are the expenses I can expect living in Costa Rica?
Water, electricity, and internet. We do recommend adding a solar package to your home, being Costa Rica enjoys almost 7 months of straight sunny days from November thru May. After May, you’ll enjoy sunny mornings with afternoon thunderstorms.
What about healthcare?
Most pharmacies employ a manager who is capable of administering drugs without a prescription for minor ailments. Nosara, and Santa Cruz both have clinics with doctors that speak very good English and office visits run typically $35. Costa Rica also has the best dental care, for a fraction of the cost. Lab work is a walk in basis, for blood work and urinalysis without an appointment needed. About $50.00 to have them both done.