Costa Rica Real Estate | Costa Rica FactsPOLITICAL STABILITYCosta Rica is one of the old...

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POLITICAL STABILITY

Costa Rica is one of the oldest democracies in Latin America, and is known as one of the most stable and politically, socially and environmentally progressive countries in the region. The country abolished its standing army in 1948 and invested the resources previously committed to defense in conservation, education and public health. Dr. Oscar Arias, Noble Peace Prize recipient in 1987, was elected President of the country, his second term, in February of 2006.

ECONOMY

Costa Rica's basically stable economy depends on tourism, exports of microchips, medical devices and agriculture. Foreign investors are attracted by the country's renowned political stability and high education levels of potential employees. Among others, well known companies such as Intel, Hewlett Packard, Procter & Gamble, Baxter Healthcare maintain sizable operations in Costa Rica.

Purchasing Real Estate in Costa Rica

BASICS
Costa Rica’s business environment welcomes and fosters foreign investment, whether in Real Estate or other business pursuits. There are generally no restrictions for foreign entities or individuals in acquiring property or conducting business in Costa Rica. A foreign investor is free to enter into local contracts and enjoys the same protection as any national citizen. For Real Estate purchases, this essentially means that everyone, Costa Rican nationals, foreign residents and even non-residents can own property in Costa Rica.

TYPES OF PROPERTY OWNERSHIP

As in the United States, Canada or Europe, there are different types of property available to buyers, which can be owned on a personal capacity or through a corporation; regardless of the owner's nationality. Following is a summary of each type of property ownership available in the country.