Beachfront Property in Costa Rica

Property ownership, This can be an inalienable right of use, which will be not likely to change later on. Nevertheless, properties held just by their owners in a Right of Property became subject provisions of the Maritime Zone Law.

Concessions are just allowed in those places that are beachfront where a Municipal Zoning Plan providing for the presence of such Concessions has been adopted by the local Municipality. The Municipality is charged together with the managing of such Concessions given by the Authorities. The standard Concession lease given is to get a twenty-year span so that you can help keep the Concession Lease present and yearly payments, similar to Municipal Property Taxes, has to be paid to the Municipality.

Foreigners, without having had five years of lawful Residency standing in Costa Rica, may not possess a majority interest.

To the foreigner ultimately, the Concession interest could be transferred following the establishment of five years of Residency.

A fascinating thought for foreigners is the Testamentary Settlement of Concession interests that are such. So that you can get the whole Concession property lease interest following Probate an inheriting party must satisfy the five-year Residency Rule before the Residency condition was satisfied, as was formerly described, or instead, they might need to set up a Trust holding relationship.

Concession property interests present some differences that are unique from those of property interests that are named. Contact Gariel Vargas.