Can A US Citizen Purchase and Legally Own Property in Costa Rica via Real Estate Trusts

Can A US Citizen Purchase and Legally Own Property in Costa Rica via Real Estate Trusts

Yes, foreigners have the same rights to own property in Costa Rica as its citizens. This includes ownership of property by a US-based trust or a trust with a US citizen as its grantor or trustee(s). The only exception is concession property or land within 200 meters of the ocean's high tide line. This restriction is due to the Maritime Zone Law, stating the first 50 meters cannot be built upon by anybody and is considered public beach, while the next 150 meters cannot be owned in fee simple (allodial title) rather it can only be leased by a concession from the local municipality for 20-99 years and is transferrable.  Finally, a Costa Rican citizen must always have a percentage of ownership in this concession property.

    • Related Articles

    • Can A Trust Own Land in Costa Rica

      Yes it can own land. Costa Rican law allows one to utilize a corporation, LLC or trust to own land even when this entity does not conduct actual business in the country.

    • What Is The Difference Between Real Estate Taxes & Property Taxes

      Real estate tax and property tax are the same thing. The IRS uses the term "real estate tax," but most people call it "property tax." Property (real estate) tax is charged on immovable property—land and structures that are permanently attached to the ...

    • Real Estate Deals are Private, Given There Isn't a Loan, Right?

      Not really. Most real estate is publicly registered and must be taken into the private realm before it should be placed inside a Private Express Trust. To do this, we have documentation on Allodial Land Patents which essentially combines legal and ...

    • The State of XXXX Has Said They Do Not Allow Allodial Title Here

      That may be what is said at the county or state level; however, Allodial Titles / Land Patents / Fee Simple Absolute Titles go back to the original treaty that granted the land from one sovereign (e.g. Spain, Mexico, France, Native Tribes, etc.) to ...

    • What Is The Difference: Real Estate Secrets vs Foreclosure Secrets

      Real Estate Secrets: Learn how to privatize one's land in 90 days - effectively stopping any foreclosure proceedings and forcing the court to enter one's self, the court and the lender into a constructive trust. Paired with lawful money and the ...