The Short Answer: Yes, foreigners can own property in Costa Rica, and they enjoy the exact same fee-simple ownership rights as Costa Rican citizens. There is no requirement to be a resident or citizen to purchase, own, or sell real estate in the country.

For investors from the United States and Canada, Costa Rica offers one of the most secure and straightforward property markets in Latin America. The Costa Rican Constitution protects private property ownership equally for nationals and foreigners. However, while the rights are the same, the legal framework, terminology, and buying process differ significantly from North America.

This comprehensive guide covers the essentials every international buyer must understand before entering the Costa Rican real estate market.

Titled Property vs. The Maritime Terrestrial Zone (ZMT)

The most critical distinction in Costa Rican real estate is between fully titled land and concession land, particularly if you are looking at beachfront property.

Fee-Simple (Titled) Property

Most property in Costa Rica is held in fee-simple ownership, known locally as propiedad titulada. This is the same absolute ownership model used in the US and Canada. You own the land and the structures on it indefinitely, and you can sell, lease, or pass it on to your heirs. Foreigners can purchase titled property outright with no restrictions.

The Maritime Terrestrial Zone (Concession Land)

If you are buying on the coast, you must understand the Zona Marítimo-Terrestre (ZMT). By law, the first 200 meters inland from the high-tide line are heavily regulated:

  • The Public Zone (First 50 meters): This area is strictly public. No one can own it, and permanent structures are generally prohibited.

  • The Restricted Zone (Next 150 meters): This land is owned by the local municipality and leased to private individuals or entities through a "concession" (usually for 20 years, renewable).

Important restriction for foreigners: A non-resident foreigner cannot hold majority ownership (more than 49%) of a concession directly. To control a concession property, foreign buyers typically partner with a Costa Rican citizen or utilize specific legal trust structures (fideicomisos). Always consult with a specialized real estate attorney if you are considering concession land.

Holding Title: Personally vs. Through a Corporation

When purchasing property, you have the option to hold the title in your personal name or through a Costa Rican corporation. While both are legal, most foreign investors and local attorneys recommend using a corporate structure.

The S.A. and the SRL

The two most common corporate entities are the Sociedad Anónima (S.A.) and the Sociedad de Responsabilidad Limitada (SRL).

Purchasing through a corporation offers several distinct advantages:

  • Liability Protection: It separates your personal assets from your property assets.

  • Estate Planning: You can assign shares to family members, simplifying the transfer of the property in the event of death and potentially avoiding lengthy local probate processes.

  • Simplified Closing: If you are not in the country, granting a Power of Attorney to your lawyer to act on behalf of a corporation is often simpler than doing so for you personally.

Keep in mind that owning a corporation requires paying an annual corporate tax, filing a declaration of beneficial ownership, and maintaining a registered agent if you do not live in Costa Rica.

The Role of the Notary Public (Notario Público)

In the US and Canada, a notary public simply verifies signatures. In Costa Rica, a Notario Público is a highly trained attorney who holds a specialized license from the government.

Their role is central to the real estate transaction. The notary is responsible for:

  • Drafting the official deed of transfer (escritura pública).

  • Verifying that all taxes and municipal fees are paid.

  • Recording the transaction in the Registro Nacional (National Registry).

By law, the notary is expected to act as an impartial party ensuring the legality of the transaction, even if selected by the buyer. However, it is highly recommended that buyers hire their own bilingual real estate attorney/notary to perform independent due diligence and represent their specific interests.

Core Due Diligence & The National Registry

Costa Rica utilizes a centralized, highly reliable digital database called the Registro Nacional (National Registry). All titled property is recorded here. Your attorney will perform due diligence by verifying two crucial documents:

1. The Folio Real

This is the property's unique title document. It lists the current owner, the property's boundaries, its exact size, and any encumbrances, mortgages, or liens against it. If a property has a clean Folio Real, it is safe to transfer.

2. The Plano Catastrado

This is the official survey map of the property. A critical step in due diligence is ensuring that the size and boundaries listed on the Plano Catastrado match exactly with the information on the Folio Real.

Additionally, your attorney will verify that the property is up to date on municipal property taxes, luxury home taxes (if applicable), and HOA fees.

The Reality of the Market: No Central MLS

Unlike the US and Canada, Costa Rica does not have a single, mandatory Multiple Listing Service (MLS) regulated by a central government body. While there are regional databases and reputable brokerage networks, inventory is decentralized.

This makes the role of a licensed, well-connected buyer's agent absolutely essential. A professional agent will not only source legitimate properties but will also know the history of local developments, understand regional pricing realities, and help you navigate the nuances of different neighborhoods.

Next Steps for International Buyers

Buying property in Costa Rica is a safe and rewarding process when done correctly. Because real estate laws, tax obligations, and residency regulations are subject to change, the information provided here should serve as a foundational guide rather than binding legal advice.

Before signing any agreements or transferring funds, your first step should be to connect with a licensed real estate agent who specializes in your target area. They will introduce you to a reputable bilingual attorney and a SUGEF-registered escrow company to ensure your investment is protected from start to finish.