The Law #9635 creates a Capital Gains Tax of 15% which will apply to all investment income and real estate.
For real estate transactions the law provides a one-time exemption for property owners that owned property before the law came into effect on July 1st 2019.
As a real property and/or CR corporation owner, you should be aware of taxes that need to be paid annually. Those who do not pay may be subject to fines and judicial collection procedures
The so called ´Solidarity Tax´ for the Strengthening of Housing Programmes (Impuesto Solidario para el Fortalecimiento de Programas de Vivienda), Law # 8683, commonly referred to as the 'Luxury Home Tax'applies to houses, condos and apartments of which construction/building value exceeds a certain amount.
Each condominium complex has a set of bylaws or Covenants, Conditions, and Restrictions (CC&Rs) that outline all the rules, regulations, dues, rights and obligations of the condo owners.
As a real property and/or CR corporation owner in Costa Rica, you should be aware about taxes that need to be paid yearly. Failure to pay them would generate penalties and lead to a collection process.