Not just any house.
Yes, foreigners can purchase property in Costa Rica. However, owning property does not automatically provide residency rights.
As part of a due diligence check, the condition of a property is thoroughly examined. This process requires translations and notarized documents, and in addition to a notary, a lawyer is needed to conduct the review. The lawyer addresses specific matters, such as identifying potential hidden defects or other significant restrictions. Furthermore, investigations and research are carried out with relevant authorities, including the city administration, municipal offices, building department, water and electricity providers, internet service providers, and other responsible government ministries.
The due diligence process takes approximately one to three weeks and costs USD 1,440.00 + 13% VAT.
Please budget approximately 5% of the purchase price for costs and fees. These include, among others, 1% for property registration, 1.5% transfer tax, and 1.1% notary fees as fixed costs, in addition to variable expenses such as administrative work, office supplies, translations, etc. If a mortgage, property subdivision (segregation), or purchase option agreement is involved, the closing costs will increase by several percentage points.
