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Found 6 results

  1. With the corporate tax about to be reinstated, I am wondering if it is time to dissolve the corporation that our condo is owned by. My understanding is that the new corporate tax law allows an opportunity to dissolve a corporation before the new tax takes effect. We used a corporation to purchase a condominium in 2011 when there were tax advantages (i.e. real estate transfer tax exemption) as well as some other advantages that may still apply. But since then the transfer tax exemption has been removed and taxes on inactive corporations have been added. Furthermore, I have found my USA income tax reporting to be more complicated due to ownership in a foreign corporation. I am wondering if the advantages of ownership of real estate in a corporation still offer enough advantages to offset the disadvantages. One concern is whether a transfer tax would apply if we dissolve the corporation at this time and transfer the property into our names. That would be a change in title on the property which normally would require payment of a transfer tax - and that would make the transfer rather costly for us. But if the current law allows a change in title without payment of the transfer tax, that may make it an opportune time to make such a transfer. One advantage touted is better protection against property theft using identity theft methods. Is this still a big advantage? Or with current disclosure laws relating to corporations, is there sill much advantage? I will be discussing this with my attorney, but I would also like to get other viewpoints on the pros-cons of corporate ownership of real estate in Costa Rica based on current laws.
  2. Hello All, My wife and I purchased a 200 acre property many years ago for an investment and to preserve this amazing piece of land. A portion of the property is virgin rain forest that the Costa Rican government pays us to keep it protected. We have a caretaker who keeps an eye on it (he and his wife live on an adjacent farm). We have been able to pay them and still have a small amount of money left in the bank from the government contract. We want to sell it in order to use some of the funds for another project in Costa Rica. I'm just not sure of the best way to do this. Realtors probably would NOT be interested since it is far out into the mountains and hence hard to get to. It would be best for someone who is environmentally minded and wants to continue keeping the place wild. Or maybe an eco-tour company that is very adventurous and can setup tours to view the area. There are 2 year round streams, spectacular views of the Nicoya peninsula off to the west and birds galore as it shares a border with Carara Nature Preserve. Any ideas would be much appreciated. Regards, GS
  3. We are Americans currently residing in the US (California) and are buying Costa Rican property from another American, also residing in the US (Florida). Is there a US escrow company that handles foreign property? We understand that we need a Costa Rican notario (attorney) present at payment/title transfer, and could fly an attorney in for that. Any thoughts or suggestions would be most welcome! Thanks!
  4. We've moved to Costa Rica after spending many winters here and searching all over for what area suits us best. We are going to take the next year to slowly and cautiously look around and buy property to build a house upon. We love the Tico culture, the area we want to settle long term is a pueblo in which Ticos and Gringos intermix and mingle. We send our kids to school here with the Ticos and we have applied for residency. We have worked very hard to be here for 20 years, probably like many of you, and saved to buy our little slice of heaven. So we want to be cautious and smart. I am intimidated by all of the warnings I have received about buying real estate in CR. I have been warned about shady realtors, disreputable attorneys. We have been told horror stories about land that was purchased, but then the title was not in the "owner's" possession, etc. "Buyer beware!" seems to be all over the place. My understanding is there isn't a licensing agency for realtors, I've heard there's a Tico price and a Gringo price, and there is no definitive range of price comparisons. In contrast, we also have friends who live here, are easy-going hippie types, and tell us to just trust the Universe and all will fall into place. lol! I'm not sure whether to heed these dire warnings... or wonder if they're just spread out of fear by fearful Americans. (I also think the US can have a false sense of security in regards to buying real estate and people get taken there all the time!) We really don't know what to believe! Anyone have advice or links, recommendations for real estate attorneys that can set up the title transfer, and S.A. for the land? We also need someone who is an expert in both USA and Costa Rica tax law? Or how about a link to learn to research and learn the real story with buying real estate here?
  5. I am looking for recommendations on reputable rental agents/agencies for the Central Valley. Would appreciate hearing of good/bad experiences. Peter Hebb
  6. There was a recent article in a local CR online newspaper stating Dan Mack Fowlie (aka-"The King Of Pavones") is returning to Costa Rica soon to settle many land disputes in the Southern Zone area of Pavones. Does anyone know if this is fact or have any information ? Thank You In Advance !