Costa Rica Foreclosure

Mortgage Foreclosure Process in Costa Rica

What is the Mortgage Foreclosure Process in Costa Rica ? If you borrow money in Costa Rica the lender will record a mortgage on your property known as an “Hipoteca”.   If you fail to pay the mortgage lender they have the right to initiate a mortgage foreclosure process to
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Legalization of Cannabis and Hemp in Costa Rica

A legislative bill to legalize medical marijuana and hemp in Costa Rica has been introduced in the Costa Rican Congress. The bill sponsored by the Citizen Actions Party (PAC) legislator Marvin Atencio has been in the works for the last 2 years.   The head of the judicial affairs commi
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Registering a Branch of a Foreign Company in Costa Rica

Registering a branch of a foreign company in Costa Rica is possible. If you have a company registered in any jurisdiction around the world it is possible to register a branch of that foreign company in Costa Rica.  By registering a branch of the foreign corporation you are able to obt
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Jail Time Payroll Witholding

Costa Rica Payroll Witholding – Go to Jail if you don’t Pay

If you do not pay the funds withheld from your employee for Costa Rica Social Security you could end up in jail.  As an Employer it is your obligation to withhold the employee contribution to Social Security and to pay that to the Costa Rican Social Security Administration.  In Costa
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Costa Rica Mandatory Registration with Social Security For Residency

 Costa Rica Mandatory Registration with Social Security For Residency Any foreign resident in Costa Rica that wants to obtain or renew their legal resident status must provide proof that they are covered by the medical insurance system of the Costa Rica Social Security Administration
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Costa Rica Consumption Tax

Costa Rica Consumption Tax on Imports

Costa Rica imposes a Consumption Tax on a selected group of products.  The tax is levied on the products that are imported into Costa Rica.  The tax imposed can  start at 5% of the CIF (Cost+Insurance+Freight)  of the product that is imported.   The Consumption Tax is LawNo. 4961.  Li
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Costa Rica Tourism Guide 1940

Costa Rica in 1940 ?  Yes.  You are reading correctly Costa Rica in 1940 !   I recently had the opportunity to discover older books I had in storage and came across the “Costa Rica’s Guide” for 1940 which was actually published in October of 1939. At the time the population of Costa R
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Law Proposed to Cancel Fraudulent Deeds in Costa Rica

How to deal with property fraud in Costa Rica.  Cancel fraudulent deeds in Costa Rica administratively. A new legislative bill that is being introduced in the Costa Rican Legislature is aimed at resolving the inequities caused by fraudulent property transfers in Costa Rica.   If a pro
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Costa Rica Real Estate Survey

Costa Rica Real Estate Market Outlook for 2017

What does the Costa Rica Real Estate market look like for 2017 ? We were curious to see what the local real estate service providers were thinking.   To ask the question a survey was prepared in both English and Spanish and it was circulated among the Real Estate service providers in
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Costa Rica DIMEX Residency Card

What is a DIMEX Identification Card.   It is your residency card.   The Costa Rica banking system will not process bank to bank wire transfers known locally as a SINPE transfer for foreigners that do not have a DIMEX identification card. The DIMEX is nothing more than the Residency Id
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Working in Costa Rica

Can I Legally Work in Costa Rica ?

Can I Legally Work in Costa Rica ? This is the most often asked question that we receive.   Not all of you are going to like the answer.   Costa Rica is very protective of its local labor force and therefore the laws favor the hiring of local Costa Rican workers as opposed to foreign
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Costa Rica Corporation

Costa Rica Corporation Minute Books

The corporation minute book is required in Costa Rica.  If you have a Costa Rican corporation (S.A.) or a Costa Rican Limited Liability Company (S.R.L.) both will have minute books. The Costa Rican Limited Liability Company (Sociedad de Responsabilidad Limitada) is required to have th
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