Posts Tagged

Property in Costa Rica

Moratorium or Suspension of the Payment of Municipal Patents
BusinessEconomyPropertyTaxes

On May 20th, 2020, Mr. Carlos Alvarado, President of Costa Rica, signed a Law that seeks to alleviate local taxpayers as well as the financial management of the municipalities affected by Covid-19. It is a law that gives taxpayers the ability to request an extension on the term to pay

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easements
PropertyReal Estate

Today, we are going to address another topic that is essential to this field: easements. When we discussed some of the aspects concerning the right of ownership, we posited that such a right is, under the branch of civil law known as “real rights” (meaning the rights that fall on

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purchasing process real estate costa rica
CondominiumPropertyReal Estate

When purchasing a property you want to make sure you are not buying into a problem. Sadly, there are enough stories out there about bad real estate deals. Most of the time people act with lack of knowledge. A significant challenge in Costa Rica is that there is no mandatory

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municipal-property-taxes-how-to-calculate-them:
PropertyReal EstateTaxes

We all want to have the property of our dreams: Excellent location, with comfort, quality and at a good price. We strive to take care of it, prune the garden, clean it and keep the roof in good condition, among other things; however, those are not the only tasks that

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Several bills are being discussed by the Costa Rican senators right now which are looking to suspend or reduce the municipal property tax collections, as part of the measures to help those affected by the sanitary emergency of the new coronavirus. Some of these bills propose to allow taxpayers to access a moratorium, or a decrease from 25% and up to 50% in taxes, fees, services, and other municipal charges. The legislator María José Corrales, for instance, proposes that such reduction of 50% in the taxes collected by the municipalities, should apply to those quarters of 2020 that will be defined by municipal agreement, only to benefit those taxpayers who are up to date with their municipal property taxes, and that should be granted to periods that have not been endorsed by the union of local governments. Moreover, as also proposed by that same bill, a total or partial remission of the surcharges, interest, fines, and other charges for penalties owed in municipal charges should be granted. Such a measure would apply in the period from the first quarter of 2020 to the closing of the second quarter of the current year. And in order to be eligible for special reduction or tax condonation benefits, the taxpayer must be subscribed to a commercial license and should be up to date with the payments corresponding to the last quarter of 2019. On the other hand, this past Tuesday March 31st, a bill was introduced by the senators which proposes that the municipalities grant a moratorium, which would allow to transfer the dates of tax payments until April 2021. This would, help as these senators mentioned, “to guarantee that workers, entrepreneurs, and merchants, in their communities, have options that would allow them to face their commitments to the municipality”. In addition, the National Union of Local Governments (UNGL), which is the organization that represents municipalities as a group, announced that they will also present their own proposal on the matter. As informed by them, “they have tried to agree with the entire municipal system on a bill that tries to specifically benefit the taxpayer, through direct benefits that they could receive in terms of permits, licenses, and the different contributions that they carry out with each one of the local governments”. According to the UNGL, for them the most important thing is not to affect some of the essential services such as waste collection, safety issues, water, track cleaning, and additional services. For now, as mentioned, all of these options are being discussed, so we would need to wait and see what is the final decision on the matter.
PropertyReal EstateTaxes

Several bills are being discussed by the Costa Rican senators right now which are looking to suspend or reduce the municipal property tax collections, as part of the measures to help those affected by the sanitary emergency of the new coronavirus. Some of these bills propose to allow taxpayers to access a moratorium, or a decrease from

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March 27th version of the General guidelines for Condominiums
CondominiumReal Estate

On March 27th, 2020, the Department of Health published the latest version of the guidelines applicable to commercial and residential condominiums, as part of the preventive and mitigation actions dictated for addressing the alert by COVID-19. As mentioned in our previous communication published regarding these guidelines, they will be reviewed periodically, and the

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Tax-Rates-for-Strengthening-Solidarity-Housing-Programs-(ISO)
GovernmentReal EstateTaxes

The solidarity tax, also known as the “tax on luxury homes,” was created by Law No. 8683 on November 19, 2008 and had been in effect since October 1, 2009. The official title of this tax is the Solidarity Tax to Strengthen Housing Programs. This tax was created to fund

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non-traditional-accomodations-costa-rica
PropertyReal EstateTourism

The current technological revolution includes mobile applications for all kinds of services, from buying food and objects which you receive at your door, a ride around town and even non-traditional renting. In Costa Rica the latter type of service had not been regulated until the middle of the month of

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The-Importance-of-the-Will-for-Foreigners-Who--Have--Children-or-Property-in-the-Country-
FamilyPropertyTestamentWills

Have you ever thought about creating a will in Costa Rica? If you have children or properties in Costa Rica, a will is the best way to guarantee that your assets and children can be fully protected when you have passed. While this is true, many people do not like

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The-Maritime-Zone-in-Costa-Rica
GovernmentPropertyReal Estate

Costa Rica is a country rich in biodiversity: forests, beaches, mangroves, and wildlife are among the many natural resources protected by the state through solid environmental legislation. The extensive coastal zone includes two oceans and extends throughout the country. The Law on Maritime Zone No. 6043 establishes guidelines the protection

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