[donbuc]

It sounds like foreigners who do not have residency will not be able to have a bank account. So you can own property but have no way to pay your bills as a foreigner. I have a
paper certificate (cedula) for my Corp under which my bank account is registered but it sounds like they want more.

Banks will more closely monitor financial transactions

October 2nd, 2013 (InsideCostaRica.com) The Superintendent of Financial Institutions (SUGEF) is strengthening its monitoring of bank transactions equal to or greater than $10,000 USD as part of a plan to increase its measures against money laundering and terrorist financing.

The new regulation requires financial institutions to gather more detailed information on customers performing such transactions, regardless if the customer is an individual or business, Costa Rican or foreign.

While SUGEF’s press statement was vague, the legislation requires banks to gather information on all shareholders of a corporation who possess at least 10% of shares, and to ensure that foreigners provide Costa Rican – issued identification (cedulas).

“The legislation provides that supervised institutions should conduct risk management against money laundering and terrorist financing that allows them to know the customer and identify their risks,” said SUGEF chief, Javier Cascante.

During 2012, financial institutions in the country reported 1.7 million transactions equal to or greater than $10,000, half of which were in cash.

[donbuc]

The account was registered as a corp back in 2007. I am not a resident and the only cedula I have would be my Corp.

I just sold the house in August so the amount in the account until then was under $10k so I think I have to report it before July 4014. Is this correct? Thx for the help

[donbuc]

Does this account closing apply to bank accounts held thru a CR corportation? I have a bank account at BN. as of the 2 days ago. I was able to access my account. I pay all my utlitiies, cable, internet in the states thru this account. I was also able to make an ATM withdrawal a couple of days ago in the states.

[donbuc]

I am currently out of the country. I want to pay my taxes online. I have a banco nacional account. Can I psy the tax online from Banco Nacional to BCR?

[donbuc]

Yes I understand that part. After you go into entretenmiento. then you acquire the tokens by choosing a location thruout the area for example escazu multiplaza. Thats the part I dont understand. Do you have to got to a location to acquire the tokens?

[donbuc]

Scott,

As of today I haven’t seen a response about the condo fees. Have you spoken to Alberto or Cesar? We are now two weeks into the new year and next months fees are due.

[donbuc]

Rita,

Thanks for the input. I went on the Banco Nacional website. I saw where you can add favorites for transfers but that is only available to pay to another Banco Nacional account. The ability to transfer money to another bank in CR is still unavailable.
I hope they restore it soon.

[donbuc]

Thanks for the update. I hadn’t save the transfer as a favorite. I will try after the 1st.

[donbuc]

I’ll be happy to send you the expense report. It shows a separate charge for garden upkeep of $22 for 32 units (first Floor).

[donbuc]

I was just in CR last week. I used my discover card whenever possible. No transaction fees and an excellent exchange rate 517 colones per dollar. It was accepted at pricesmart hipermas and epa. Some of the cashiers at Epa didnt know it was accepted.
It falls under Creditomatic.

[donbuc]

According to my attorney, the biggest advantage to owning property in a corp. is transfer of ownership in the event of your death. Corp can be setup to assign ownership to a person of your chosing if you die. If not in a corp. your property would have to go thru probate. I can just imagine the nightmare.

[donbuc]

Maravilla,

Thanks for the help. After many hours last night I finally got into my account. The problem was with my id#. as you said the cedula juridica # was my id#. Since my cedula # is 10 digits and the system requires 12 digits. I had to add 2 zeros to the end of the number. Thanks for the help.

donbuc

[donbuc]

Maravilla,
thanks, for the info. but I think the format has changed.
Or more info is needed. after going to internet personal you have to go to registro en linea. a new screen appears requiring debit card #,
atm pin, and debit card security # from back of card and id #
which after entering numbers in different format, I discovered 12 digits are required. Apparently I dont have the right id #. does any of this ring a bell?

thanks,

donbuc

[donbuc]

I am trying to set up my account for on-line access. the initial access requires you to register first. As I stated above was the steps I used. My debit card will be for international use. The bank is Banco Nacional.

thanks
donbuc

[donbuc]

I appreciate your input concerning price appreciation. I would be buying using cash funds looking to buy in the 80k to 120k price range and maintaining my home in the US. for at least the next 5 years. I guess I am more concerned about renting the property and dealing with possible evictions. I would use a property management service but still concerned. Also what kind of rental income would be generated with a long term rental. I own rental property in the US and sometimes tenants can be a problem.

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