Purchasing Property from the States

[Lemmy]

Long story, short! I live in Costa Rica with my Tico husband. My mother, who lives in the States, would like to invest in a small house for my husband and I. So she will be purchasing the house and we will basically pay her a "rent" each month.

 

Now, the question is, what is the best way to do this? Should she form a corporation and purchase the house that way?

 

And here's the biggest question. What is the best way for her to get payment here? Are bank to bank transfers penalized or taxed?

 

Obviously our lawyer will be involved but we're just trying to get our ducks in a row before engaging any further. I would appreciate any helpful information you all could provide!

 

Thanks!

[T&VSmith]

We were advised to form a corporation for our raw land so once we had chosen a law firm we purchased an off the shelf corporation that they had ready to go. Everything was titled and registered in about a month and a half. There was a friend of mine paying a deposit on property as well as my wife and I paying for our whole property. We are in Canada but we transferred $113,000.00 and the only fee that we paid was the bank fee of $100 for the transfer and $100 to courier the corporation books to us for our signature and another $100 to courier the books back. It was very painless and relatively quick.

[T&VSmith]

I took an off the shelf company and my friend had one formed from scratch. We both used the same law firm and the price was the same, it did take him a couple of months longer though.