Invest & set up companies
To set up a company in Costa Rica you require a Public Notary.
INCORPORATING IN COSTA RICA: SETTING UP A COMPANY IN COSTA RICA:
First of all there are no restrictions as for foreigners and a simple passport copy is enough as ID.The typical limited liability company ("Sociedad Anónima" or "S.A") must be incorporated by at least two people before a Costa Rican Notary Public.
After such incorporation, the shares may be transferred and it is legally feasible to have a corporation in which one person is the owner of all shares.
The incorporators must choose a name (which must not be similar to any existing corporate name); appoint a Board of Directors (which, by law, must have a minimum of three members, denominated President, Treasurer and Secretary) and a Comptroller.
Each one of those positions must be occupied by a different person; however, the initial incorporators may occupy them.Other crucial issues to be decided on are the capital of the corporation (the higher the capital, the more registration taxes are to be paid); the number of shares composing such capital and the representation of the newly formed company.
When you are buying real estate, it is advisable to do it in a corporation's name. In this case, transfers can be made easier and the structure may be more flexible for other transactions and for organizational matters.
BUYING REAL ESTATE IN COSTA RICA:
Most properties in Costa Rica are registered in a computer system called "Folio Real".
Such system is centralized at the offices of the Public Register in San José.
Before buying land (or even before seriously considering an offer to buy land) a title search in Folio Real should be performed. Our Lawyers will explain to you how to verify your own property title from anywhere in the States, Britain, Canada or Europe.Such title search will show all data on the property, including area, ownership, boundaries, location, mortgages and other liens.Another situation one may encounter regarding land, especially in beaches, is the concession.
In this case, the government gives a private party the right to use the land for a specific period of time.
In general terms, the concession may be considered as a lease. The concessions' registration system is different from the one for regular land, and has particular requirements regarding zoning, terms, occupation, etc.
In conclusion, before buying, before being offeried or even before seriously considering buying a piece of land, enquire about its status and perform a title search: these simple steps could save you a lot of money and effort, and will definitely make your Costa Rican investment worthwhile.
Contact us to know our very competitive price list.
Is a land insurance necessary?
Actually our lawyers will study the history of the land you might buy in order to future liens.
Get your car registered in the national registry. When you buy a car you need a Pulic Notary to register the car and make sure you are the registered owner. A public notary will register the car. In case the car is imported, after having paid the taxes, a public Notary will register the car and hand you the official vehicle registration plates.