FAQS for Expats in Costa Rica (Part I)
Expats can apply for residency in Costa Rica: either as a fixed annuity (rentista), investor (inversionista), retiree (pensionado).
Real Estate
Home Luxury Tax for 2022 (Part II)
The buyer is only jointly liable for the tax payment in the fiscal period when they are buying (according to section 7 of Law # 8683 and section 20 of the Regulation of the Solidarity Tax law)...
Home Luxury Tax for 2022 (Part I)
The entity or person obliged to file and pay the tax is that one that owns the ¨Luxury Home¨ as of January 1st of each year. This includes parties in a co-ownership as well.
ESTATE PLANNING IN COSTA RICA
'Da tua dum tua sunt, post mortem tunc tua non sunt'.
(Give that which is yours while it is yours; after death, it is not yours).
SOME FACTS ABOUT CR ESTATE PLANNING
‘Da tua dum tua sunt, post mortem tunc tua non sunt’. (Give that which is yours while it is yours; after death, it is not yours). Executing a testamentary disposition or a will, in Costa Rica called ‘testamento’, can be…
CAPITAL GAINS IN REAL ESTATE
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.
NEW CAPITAL GAINS TAX IN COSTA RICA
With the approval of the Law #9635, among the taxes and changes that brought, it was created a Capital Tax Gains of 15% which applies to investment income and real estate.
NEW REGULATORY CHANGES FOR SUGEF REGISTRATION
On October 8, 2018, CONASSIF (National Council for Financial System Supervision) approved a new regulation, SUGEF Agreement 11-18, related to the registration
REAL ESTATE RENTALS WILL SOON BE SUBJECT TO THE SAME LEGAL REQUIREMENT FOR ELECTRONIC INVOICING (FACTURA ELECTRONICA) AS ALL OTHER TAXPAYERS IN COSTA RICA.
The transition to a mandatory electronic invoicing system for taxpayers got underway earlier this year, as an outcome of 2016 legislation 'to improve the fight against tax fraud' in Costa Rica. Under a 2018 schedule of phased-in compliance deadlines, Resolution No. DGT-R-51-2016
HOME OWNER’S ASSOCIATION MEETINGS
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.