When it comes to a model environment for foreign investment, Costa Rica no doubt hits the forth rank all across the world. It’s actually because although there are a couple of restrictions that foreigners are limited with when purchasing a real estate within the territory of Costa Rica, a foreigner can easily enjoy the outstanding atmosphere of Costa Rica as a Costa Rican as they don’t require pursuing any special conditions in order to purchase property in Costa Rica. For your kind information, there are few restrictions and limitations for land use within Costa Rica, so it’d be a wiser decision if you choose to perform a due thoroughness over each property title in order to ensure whether or not the locations, restriction zones, easements, soil, and other incumbent’s aspects tend to affect the anticipated use.
Consulting to professionals for this purpose is strongly recommended. Documents required when purchasing Costa Rica Real Estate Firstly, if you’re a foreigner and want to purchase real estate in Costa Rica, you should acquire a Proof of Residency card and a valid Passport as well to meet your dream. Corporations must secure their registrations legally in Costa Rica. Additionally, they should be offered with a certificate of participation in proper standing and the corporate card from the authorized representative in Costa Rica. A certificate from the local Municipality that ensures the timely payment of taxes and no liability of the seller within that particular municipality is necessary.
A Cadastral Survey is absolutely necessary for the entire real estate property transactions in Costa Rica. Real Estate Property Registry Report exhibiting that the concerned property is completely free of mortgages, annotations, encumbrances, and liens. It’s quite possible to use a power of attorney if any of the parties will be absent when the sales documents are to be signed. Costa Rica Real Estate Information It is the Real Estate Property Registry that operates an electronic database wherein the entire records of Costa Rica Real Estate are placed. As this database is accessible for public use as well, it’s possible for you to have access to this database from all across the world. All it requires is an internet connection for that purpose. Actually, the report includes the basic details regarding owner, cadastral survey number, location, area and the boundaries.
Additionally, the report will also help you to ensure whether or not the property is accompanied with liens, mortgages, easements, annotations, and many other encumbrances. However, don’t assume that the Real Estate Property Registry includes the details about the entire properties within Costa Rica. Much to your surprise, there are also some properties within Costa Rica that are yet to be owned by any owner. Maritime Zone is another exception to this. Maritime Zone is a seacoast area located 200 meters from the high tide line. Actually, The Maritime Zone is separated into 2 different sections. First is the Public area and Concession area is the next one.