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1. Just wondered if anyone knows the outcome of the couple that did not file the corporate tax form in the states for Costa Rican corporation ownership.
2. It is amazing to me that no one that sells real estate in Costa Rica gives a clue as to the form once you property here.
1. I’m guessing that they would probably not want any more of their personal financial matters revealed publicly.
2. “My Realtor didn’t tell me anything about this tax form!” Will probably not be an excuse that will get you very far when you fail to pay the taxes that you are due to pay.
It is your obligation alone to make sure that you report and pay whatever confiscatory taxes you are unfortunately liable for.
IMHO your Realtor probably should indeed make you aware of this sort of thing but I don’t know any of them who do …
Best wishes
Scott
[quote=”barbara ann”]
2. It is amazing to me that no one that sells real estate in Costa Rica gives a clue as to the form once you property here.[/quote]Well …
The field of international taxation is very specialized. Most of the folks that truly understand the ins and outs of it are working for companies like Price Waterhouse Cooper with multi billion dollar multinational corporations as clients that are handling sums of money that are incomprehensible to most folks. An expat that owns a house in a foreign jurisdiction is below chicken feed to them.
With that said, which form would you have them tell you to file as it depends on so much other data …
Do you own it personally, or is it held in an SA or SRL … that’s three different forms.
Is it above or below a dollar threshold that depends on …
a) Your filing status
b) Your primary place of residency
c) etcThat determines which additional forms that you may need to file …
In the end, do you want them to be professional real estate agents or professional international tax specialists ?
In Costa Rica, it’s hard enough just being a real estate agent. In the US, I have a property with four survey markers … in Costa Rica, I have a property with 211. Is there a registered spring on (or near) your property ? That can keep you from building anything within 200 meters of that spring. Is the property registered at the National Registry ? What about the surrounding properties ? Have they all been checked for overlap ? It is my understanding that there is more square meters of property registered at the National Registry than exists in the entire country by a wide margin.
The best that a real estate agent can really do is to encourage you to speak with an international tax specialist prior to purchase,as,in the end, it is each person’s own individual responsibility to comply with the laws of their country of citizenship and residency.
Take care,
Bill
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