FAQ's

1. What makes Costa Rica special?

Costa Rica is one of the most popular places to visit for its enchanting beaches, rain forests, volcanoes and its friendly people. PURA VIDA, meaning "Pure Life" is one of the most popular expressions used in the country. Additionally, Costa Rica has more than 60 years without an army or military forces, is the oldest democracy in Central and South America, has a phenomenal 96% literacy rate, and 33 % of their territory has been declared as National Parks and Preserves.

2. How's the weather in Costa Rica?

Conditions are moderate all year round and the main influence on temperature is altitude. The average temperature is 70°F (21°C) in the highlands and from the high 70s to the low 90sF (21°C to 32°C) in the lowlands. The rainy season or green season goes from May to November, and the dry season from December to April. However, even during the green season, the mornings are likely to be bright and sunny. Temperatures vary little between seasons.

3. Where and when is the best fishing in Costa Rica?

Sport fishing in Costa Rica is excellent on both coasts and there are game fish to be caught during all months of the year. Fishing is of the catch and release variety (although a small number are kept for trophies or for eating) and prices vary greatly depending on the boat, fish weight and region. Several world record fish have been caught off the coasts of Costa Rica. On the Pacific Coast, Quepos Port is a world reknowned fishing hot spot. Marlin, Roosterfish, Dorado (Mahi Mahi), Sailfish, Tarpon and Snook (on the Caribbean) as well as Yellow fin Tuna are the prime catches.

4. What is the lifestyle like in the area?

The lifestyle in the area can best be described as "laid back." There is an abundance of activities for all types of interests. On any given day you can go sport fishing, river rafting, on a horseback ride on the beach or just hang out at the Manuel Antonio National Park and watch the monkeys swinging by as you take in the tropical sun on a beautiful beach. The area also offers an eclectic variety of restaurants and bars.

5. How is the title transferred in Costa Rica?

In Costa Rica, the Property will be transferred from the seller to the buyer by executing a transfer deed at closing before a Notary Public, who is also a lawyer. Unlike common law countries, such as the United States and Canada, where the role of the Notary Public is limited to authenticating signatures, in Costa Rica the Notary Public is an agent with extensive powers that has the authority to record transactions in Government offices. The Notary Public may draft and interpret legal documents, as well as certify the authenticity of documents.

Real estate properties are recorded in the central Real Estate Property Registry, located in San José. All the information is centralized in digital databases.

In order to close a real estate transaction in Costa Rica, a Notary Public prepares the transfer deed and records the transaction in the Real Estate Property Registry (Registro Nacional). At the buyer's option, the property can be purchased by an individual, in co-ownership with other individual persons, or in the name of a corporation. The decision as to the ownership should be based upon the buyer's particular situation and after consulting with a Costa Rican attorney.

6. Are there any restrictions on foreigners owning properties in Costa Rica?

Foreigners have the same rights as Costa Rican nationals when it comes to owning properties, which is fully guaranteed by the Constitution. This is not the case in other Latin American countries.

Regardless of your nationality, it is recommended that you take title to your Los Pelícanos property through either a Costa Rican corporation ("Sociedad Anonima" or "S.A.") or limited liability company ("Limitada"), as this has many current tax advantages when it comes to reselling the property at a later date. We always suggest that you consult your attorney or tax adviser regarding purchases in any country outside of your country of origin.

7. Am I able to rent my condominium?

According to the Condominium Property Regulating Law, the Urban and Suburban Rental Law and the Condominium's Internal By-Law, both Costa Ricans and foreigners are allowed to rent their condominiums, based on the above-mentioned laws.

8. What sort of taxes can I expect to pay on my property?

Closing costs for a sale include a land transfer tax, a stamp tax and legal fees. Closing costs typically run 5% to 6% of the sales price and are usually split evenly between the buyer and seller. The transfer and land taxes are assessed based on the declared value, while legal fees are charged based on the sales price of the property. Fees associated with a mortgage would be in addition to these costs and are customarily the responsibility of the buyer.

9. What costs are covered by the monthly maintenance fees?

The monthly fees are determined by the density and amenities of the Condominium. It is determined by the initial owner, but it may be increased or reduced according to the Condominium's needs and expenses. The monthly assessments include maintenance of common areas, security, administration of the Condominium, etc.

10. Is financing available?

Financing from the developer is available to qualified buyers.

There are also several private and public banks that offer financing to qualified Los Pelícanos buyers. Los Pelícanos Ocean Club can provide you assistance in obtaining a mortgage and other types of financing.

However, financing through a bank is still relatively complex because of the bureaucracy. The interest rate is between 8.5% and 12% in a US dollars loan. Most of the transactions in Real Estate are cash deals or financed by the owner or seller, usually very short term with high down payments (typically 30%-50%). Sometimes the buyer can get better rates and faster approval (or easier approval) using a first or second mortgage in their home country on property they have there, then using the cash for buying property in Costa Rica.

11. Are pets allowed?

Pets are allowed as long as they are always on a leash outside of their residence and pose no threat or nuisance to other residents. The Condominum By-laws have specific regulations about pets.

12. Does the fact that I own a property in Los Pelicanos Ocean Club automatically qualify me for Costa Rican residency?

No. If you are interested in obtaining official residency, we advise you to contact a reputable law firm that will provide you with the visa for the residency status that will best suit your needs.

It is not necessary to have a residency to be able to buy property in Costa Rica. You can buy with your tourist status.

It is not necessary for you to obtain residency if your maximum stay in the country does not exceed the period specified on your tourist visa (3 months). After spending a minimum of 72 hours outside of the country, you will be allowed to reenter Costa Rica and receive another tourist visa, renewed for another 3 months.

If you plan on living here year round, you will find it easier if you have legal residency.

13. What kind of inoculations do I have to take to Costa Rica?

There are no required inoculations for Costa Rica, but it is a good idea to check with your physician for recommendations of optional inoculations and health precautions.

14. Is tap water drinkable in Costa Rica?

Tap water is drinkable, however some people may not be used to it, for this reason bottled water could be a good alternative.