Costa Rica Eye Offers Secure Access To Real Estate, Even As Tax Laws Change

Costa Rica Eye offers professional access to Costa Rica real estate throughout the country, plus is familiar with the recent changes to the Property Transfer Tax Law.

San Jose (I-Newswire) January 21, 2013 - Costa Rica Eye builds on over 15 years of experience for helping clients find properties to buy and invest in. The Costa Rica Property Tax Law, in effect for some time, subjects all transfers of property, recorded under the National Registry, to a 1.5% transfer tax. In the past, by selling the shares of a corporation, parties of a Costa Rica real estate transaction were exempt from filing a real estate sales deed with the registry. They could therefore avoid any applicable taxes.

A new law, the Ley de Fortalecimiento de la Gestion Tributaria, Ley No. 9069, modifies the existing regulations on real estate transfer taxes. It is aimed at pursuing indirect real estate transfers. Parties engaging in transfers must pay the transfer tax, plus registration fees and documentary stamps adding to the overall costs when a property is transferred and recorded in the registry.

Other stipulations of the law include a requirement for the tax to be paid within 15 business days following theCosta Ricareal estate transaction. The tax must also be paid based on the actual value of the transaction, plus the law cracks down on people under reporting the value of the transactions, with the requirement of filing a copy of the sales deed with the local government.

Costa Rica Eye employs a team of professionals who understand the local laws and the needs of buyers and investors. Personalized customer service is provided when looking forCosta Ricaproperty, whether it is a condo, loft, rental, house, or farm. Properties are available near the beach and in the valley and highlands.