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Scott if i wanted to purchase a property in CR, but utilize the property as a rental with me vacationing 3-6 visits per year, according to CR law how many months must i physically remain in CR per year?
Could you recommend a good Real estate agent and a good Attorney for future reference?
Thanks in advance for your assistance.
Thanks for your question ‘ucan2’
As a ‘tourist’ (rather than a legal permanent resident of Costa Rica) when you enter the country you are normally (but not always) given a period of three months to enjoy Costa Rica and then you are expected to leave.
We have a whole section devoted to Recommended Realtors who I know personally and in whom I trust – it all depends on the geographical location – which your can see by clicking on the link below:
[url=https://www.welovecostarica.com/public/department51.cfm]Costa Rica Recommended Realtors[/url]
Hope that helps.
For more in-depth immigration advice I would encourage you to speak with one of our Recommended Attorneys in the [url=https://www.welovecostarica.com/public/department41.cfm]Costa Rica Lawyers, Laws & Taxes section[/url] as I deliberately tend to stay away from this subject ….
Scott
A new law is intended to be implemented soon, regarding renting out condos, vacation homes, etc. if they are rented for over 15 days, where you will have to pay 13.5% tax. How this is going to play out, I have no idea…:roll:…but it [u]may[/u] make you decision easier…or not.
Realize that there are [i]hundreds[/i] of empty rental units out there just waiting for a tenant, so location is very important.[quote=”costaricafinca”]A new law is intended to be implemented soon, regarding renting out condos, vacation homes, etc. if they are rented for over 15 days, where you will have to pay 13.5% tax. How this is going to play out, I have no idea…:roll:…but it [u]may[/u] make you decision easier…or not.[/quote]
It will be interesting to see if the authorities are as “efficient” as they are in implementing this as they are with other tax collection efforts…
Scott
Scott
your right
but then again its a win/win for them because most people are like sheep and they all jump over themselves trying to follow the letter of the law in everything they do.
great citizens actually. 🙂
I would bet if taken on a sliding percentage basis and making things all equal.. Us gringos probably comply with more laws here than the normal average tico.
Look at the luxury tax scenario
they came out with a law that they themselves changed a dozen times because it was not really thought thru
all the news came out and in the end the true people of compliance.. that actually paid.. were tagged the following times because now they raised their hand
and still compliance was limited but still profitable because that money goes into the black abyss of
it’s for the poor. 🙂
would love to know how much money was collected and actualized and accounted for
I remember even sir Scott of Nottingham was tagged because the building he lives in
fair??? heck no
but they are getting better Scott
and what happened that nobody really talks about was the ingenious way they came up with the corp tax and how that was collected
so they killed 2 birds with one stone.
tax and semi streamlined collections.
Watch for trends of new taxes and payment integration into services that must be already paid.
like an addition to a water bill
or phone bill
etc etc
you can also see more aggressive behaviors when purchasing things monthly.. they are all falling in love with EFT!!!!
keep things as simple as possible is my advice 🙂
if a guy like johnny boy can win an election here things will get worse. he left the mayors office in such a disarray that the new mayor was actually hesitant taking over being nervous of things coming out of the closet.
[quote=”Scott”][quote=”costaricafinca”]A new law is intended to be implemented soon, regarding renting out condos, vacation homes, etc. if they are rented for over 15 days, where you will have to pay 13.5% tax. How this is going to play out, I have no idea…:roll:…but it [u]may[/u] make you decision easier…or not.[/quote]
It will be interesting to see if the authorities are as “efficient” as they are in implementing this as they are with other tax collection efforts…
Scott
[/quote]Having dealt with the Hacienda (Costa Rica’s IRS) recently, I know for a fact that only a a tiny percentage of people who should be paying the “luxury property tax” have actually paid their luxury tax.
I have unfortunately paid the luxury property tax because [url=https://www.welovecostarica.com/public/2058.cfm]I sold my luxury apartment[/url] and the buyer didn’t want to pay my taxes (strange huh?) but yes! You are right ‘davidd…’
All governments – most of which which are bankrupt – have to get more aggressive at collecting taxes that are owed now and will try hard to implement new taxes in the future….
But this is nothing compared to the problems we have in the bankrupt United Israeli Police States Of America….
[url=http://www.theglobeandmail.com/report-on-business/rob-commentary/the-scary-actual-us-government-debt/article4330289/]Boston University economist Laurence Kotlikoff[/url] says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion – 840 per cent of current GDP. “Let’s get real,” Prof. Kotlikoff says. “The U.S. is bankrupt.”
“[b]The IMF is saying that, to close this fiscal gap [by taxation] would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes[/b].”
Scott
[quote=”costaricafinca”]A new law is intended to be implemented soon, regarding renting out condos, vacation homes, etc. if they are rented for over 15 days, where you will have to pay 13.5% tax. How this is going to play out, I have no idea…:roll:…but it [u]may[/u] make you decision easier…or not.
Realize that there are [i]hundreds[/i] of empty rental units out there just waiting for a tenant, so location is very important.[/quote]In regards to the statement “hundreds of empty rental units out there just waiting for a tenant”…is it because the owners just don’t advertise them (on this site?)in whatever location-it sure would be nice to have more listings for rentals in all areas because that’s all I’m interested in is renting-not buying. Thank you.
[quote=”windom”]In regards to the statement “hundreds of empty rental units out there just waiting for a tenant”…is it because the owners just don’t advertise them (on this site?) in whatever location-it sure would be nice to have more listings for rentals in all areas because that’s all I’m interested in is renting-not buying. Thank you.[/quote]
We manage about 50 rental units (apartments) primarily in Santa Ana and I can assure you there are certainly NOT “hundreds of empty rental units” in our area…
Our area tends to be more long-term, ‘executive’ rentals whereas I am [i]guessing[/i] that CostaRicaFinca is referring to more touristy areas where the rental market is more short-term.
Scott
Yes, I was referring more to the beach areas, where a tenant is more interested in a short term rental, since the OP says he wishes to also use his condo, several times a year.
[quote=”Scott”][quote=”windom”]In regards to the statement “hundreds of empty rental units out there just waiting for a tenant”…is it because the owners just don’t advertise them (on this site?) in whatever location-it sure would be nice to have more listings for rentals in all areas because that’s all I’m interested in is renting-not buying. Thank you.[/quote]
We manage about 50 rental units (apartments) primarily in Santa Ana and I can assure you there are certainly NOT “hundreds of empty rental units” in our area…
Our area tends to be more long-term, ‘executive’ rentals whereas I am [i]guessing[/i] that CostaRicaFinca is referring to more touristy areas where the rental market is more short-term.
Scott
[/quote]Thank you Scott and CostaRicaFinca for the clarification. Is there a way to find out more about those apartments in Santa Ana area?
[quote=”windom”]Thank you Scott and CostaRicaFinca for the clarification. Is there a way to find out more about those apartments in Santa Ana area?[/quote]
Sorry or the delay – We are travelling in Guatemala at the moment…
You can see our own apartment at [ https://www.welovecostarica.com/public/3987.cfm ] (which is one of the larger units) but there are not too many of the larger apartments available for rent at the moment …
Mayra has a 2 bedroom, one bathroom, fully furnished 78M2 apartment available now for $1,200 and a few others…
The smallest is a 70M2 fully furnished, one bedroom/one bathroom for $1,000
Mayra’s email is mayraclaveria@gmail.com
Scott
Scott
talk to me.. are you doing some diligence and looking for the next place to move 🙂 how is Guatemala???
weather, high speed internet???
costa rica may very well price itself out of the market over the next 10 years..
it’s like having the 3 stooges at the helm of this country
imagine.. spending $650,000 to a company for a stupid slogan like [b]Esencial Costa Rica[/b]
I mean really
[quote=”Scott”][quote=”windom”]Thank you Scott and CostaRicaFinca for the clarification. Is there a way to find out more about those apartments in Santa Ana area?[/quote]
Sorry or the delay – We are travelling in Guatemala at the moment…
You can see our own apartment at [ https://www.welovecostarica.com/public/3987.cfm ] (which is one of the larger units) but there are not too many of the larger apartments available for rent at the moment …
Mayra has a 2 bedroom, one bathroom, fully furnished 78M2 apartment available now for $1,200 and a few others…
The smallest is a 70M2 fully furnished, one bedroom/one bathroom for $1,000
Mayra’s email is mayraclaveria@gmail.com
Scott
[/quote][quote=”Scott”]Having dealt with the Hacienda (Costa
All governments – most of which which are bankrupt – have to get more aggressive at collecting taxes that are owed now and will try hard to implement new taxes in the future….
[/quote]
Many, many people tune in here with questions and intentions of moving to Costa Rica. The advantages of C.R. are many: social, climatic, and personal – they have been discussed in many forums.The World Economic Forum has issued it 2012-2013 report on global competitiveness and ,though Costa Rica’s rating has improved slightly, it’s not all that great. The report can be downloaded at:
http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2012-13.pdfThe overall ranking: 57 of 144 countries, sandwiched in between Slovenia and Cyprus. The criteria and C.R.’s ranking are:
Basic requirements 67
Institutions 53
Infrastructure 74
Macroeconomic environment65
Health/education 57The report says (according to a Tico Times story), in order to get closer to the higher-income and more innovative countries, Costa Rica must confront at least 16 problems, the report states. The most challenging are excessive bureaucracy, poor transport infrastructure, difficulty in accessing financing, excessive tax regulations and corruption.
I have not read the entire report, but having been a one-time inhabitant of and frequent visitor to, C.R since 1979, This assessment seems accurate to me. And in the past decade these very problems seem to be accelerating despite the earlier report; as a whole IMHO the country is less welcoming to immigrants (which is what we are) than it was just 10 years ago.
While most (all?) governments are corrupt, C.R.’s would rank higher than 57, I believe.Pharg
thanks for the info..
I would have to agree.. CR is not immigrant friendly..
and your also right about corruption here.. but every government is corrupt
and the size of corruption is always related to the size of government
the larger government.. the more corrupt.
simple math
the difference here is that Costa Rica does not invade other countries for $$$
[quote=”pharg”][quote=”Scott”]Having dealt with the Hacienda (Costa
All governments – most of which which are bankrupt – have to get more aggressive at collecting taxes that are owed now and will try hard to implement new taxes in the future….
[/quote]
Many, many people tune in here with questions and intentions of moving to Costa Rica. The advantages of C.R. are many: social, climatic, and personal – they have been discussed in many forums.The World Economic Forum has issued it 2012-2013 report on global competitiveness and ,though Costa Rica’s rating has improved slightly, it’s not all that great. The report can be downloaded at:
http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2012-13.pdfThe overall ranking: 57 of 144 countries, sandwiched in between Slovenia and Cyprus. The criteria and C.R.’s ranking are:
Basic requirements 67
Institutions 53
Infrastructure 74
Macroeconomic environment65
Health/education 57The report says (according to a Tico Times story), in order to get closer to the higher-income and more innovative countries, Costa Rica must confront at least 16 problems, the report states. The most challenging are excessive bureaucracy, poor transport infrastructure, difficulty in accessing financing, excessive tax regulations and corruption.
I have not read the entire report, but having been a one-time inhabitant of and frequent visitor to, C.R since 1979, This assessment seems accurate to me. And in the past decade these very problems seem to be accelerating despite the earlier report; as a whole IMHO the country is less welcoming to immigrants (which is what we are) than it was just 10 years ago.
While most (all?) governments are corrupt, C.R.’s would rank higher than 57, I believe.
[/quote][quote=”davidd”]Scott.. talk to me.. are you doing some diligence and looking for the next place to move 🙂 how is Guatemala???
weather, high speed internet???
costa rica may very well price itself out of the market over the next 10 years..
it’s like having the 3 stooges at the helm of this country
imagine.. spending $650,000 to a company for a stupid slogan like [b]Esencial Costa Rica[/b]
I mean really. [/quote]
As you may know davidd, my wife and her family are all from Guatemala so we spend some time there…
The new Costa Rica ‘Esencial’ video is excellent but spending $650,000 on the video and the pathetic slogan that few people can even recognize is absurd.
My video guy and I are quite capable of doing similar quality video for less than $10,000 and …
You can find a graphic designer on Fiverr who could design a better logo… OK Maybe you have to get 100 of them done before you choose the right one so? You’ve spent $500 on the 100 different logos…
A – Professional video from an award winning filmmaker $10,000
B – 100 well designed logos to choose from? $500
C – More than respectable profit margin? $10,000[b]Total $20,500[/b]
Less than 4% of what the tourism department paid …
Scott
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