FAQ
How do I start?
To begin, contact our team to discuss your real estate needs and preferences. We will guide you through the process, answer any questions you may have, and provide expert advice to help you
make informed decisions about buying or selling property.
What services do you offer?
Ocean Minded Real Estate provides a comprehensive range of services tailored to buyers, sellers, investors, and property owners, with a primary focus on the Guanacaste region.
Our services include residential and commercial property acquisition and sales, investment consulting supported by data-driven financial analysis, and professional real estate content creation with its specialized marketing. We also offer private lending advisory through our asset-backed income programs, connecting investors with secured lending opportunities while supporting borrowers with structured capital solutions.
All of our services are supported by a carefully selected, multidisciplinary team of legal, financial, and technical professionals. In addition, we operate under clear policies designed to prioritize transparency, integrity, protect our clients’ interests, and ensure a high standard of service and long-term satisfaction.
Can I purchase a property in Costa Rica while being a non-resident foreigner?
Yes. Costa Rica allows non-resident foreigners to legally purchase real estate and operate businesses with the same property ownership rights as citizens. Properties may be acquired either in a personal capacity or through a legal entity, such as a corporation or LLC-equivalent structure. Each ownership option carries specific legal, tax, and operational considerations, which our legal partners review with clients in private consultations to determine the most suitable structure.
Additionally, qualifying real estate investments—currently starting at USD $150,000 in Costa Rican assets—may allow investors to apply for residency under the country’s investor residency program. The residency process typically takes between 12 and 18 months to complete, depending on individual circumstances and documentation.
What are the typical Closing Costs on a Real Estate Transaction?
In Costa Rica, total closing costs for a standard real estate purchase typically average approximately 3.5% - 4% of the purchase price, though the final amount may vary depending on the structure and complexity of the transaction.
These costs generally include:
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Transfer tax: 1.5% of the purchase price
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Registry stamps and fees: approximately 0.86%
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Closing attorney fees: typically between 1% and 1.5%
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Legal entity setup (if applicable): approximately USD $1,250 to establish a corporation or similar structure
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Escrow services: starting at approximately USD $850, depending on transaction value
In addition to closing costs, buyers should budget separately for due diligence expenses, such as structural inspections, surveys, and topographic studies. These costs vary based on property size, location, and scope of analysis.
Our team works closely with trusted legal and technical professionals to ensure clients receive a clear cost breakdown upfront, allowing for accurate planning and a smooth closing process.
What should I expect in terms of annual property taxes in Costa Rica?
How does the property purchase process work in
Costa Rica?
One of the aspects investors appreciate most about the Costa Rican real estate market is its relatively low annual property tax structure compared to many international markets.
The standard municipal property tax is 0.25% of the registered property value, which translates to approximately USD $250 per year for every USD $100,000 of assessed value.
In addition, Costa Rica applies a Luxury Home Tax (Impuesto Solidario para el Fortalecimiento de Programas de Vivienda), which applies only to built properties where the construction value alone is appraised at or above approximately USD $279,000 (threshold subject to annual adjustment based on exchange rates and government updates). Following an official appraisal, qualifying properties are assigned to a tiered category and are subject to an additional tax ranging from 0.25% to 0.55%, calculated separately from the standard property tax.
Other applicable taxes may arise depending on ownership structure and use of the property. These can include capital gains tax, currently set at 15% on the sale of property, as well as income tax on rental or business activity, which generally ranges between 15% and 30% depending on the nature of the activity and income level.
Our legal and tax professionals work closely with clients to provide clear guidance, ongoing compliance support, and tailored tax planning throughout the ownership lifecycle.
The Costa Rica Property Purchase Process is as follows:
1 | Choose a Real Estate Advisor
Work with a reputable, locally established advisor to access on-market and off-market opportunities.
2 | Property Search & Showings
Identify and tour properties that align with your investment or lifestyle objectives.
3 | Submit an Offer (PSA)
Present a Purchase and Sale Agreement outlining price, terms, and timelines.
4 | Negotiation & Agreement
Buyer and seller negotiate terms and execute the PSA.
5 | Earnest Deposit to Escrow
Approximately 10% of the purchase price is deposited into a licensed escrow account.
6 | Due Diligence Period
Legal, technical, and structural reviews are conducted by the buyer’s professionals.
7 | Final Funds to Escrow
The remaining balance is transferred prior to closing.
8 | Closing & Title Transfer
Transfer deed is signed and ownership is officially recorded.
Can I purchase a property in Costa Rica with a traditional mortgage?
Yes. Financing options for non-resident foreigners seeking traditional long-term mortgages in Costa Rica are increasingly available, particularly for buyers from the United States and Canada. While the market is still more selective than in North America, 20–30 year mortgage options are becoming more common for qualified applicants.
Ocean Minded Real Estate works directly with a network of local and international financial institutions, as well as U.S.-based family offices, to help clients evaluate available financing solutions. Mortgage application timelines and approval requirements are carefully considered during negotiations with sellers, allowing us to structure realistic closing schedules.
With our involvement and coordination between lenders, legal teams, and escrow services, the financing process is streamlined to support a smooth and efficient transaction.