Financing
Although the constitution allows equal access of credit to both foreigners and nationals, it is more difficult for foreigners to qualify. Out of country collateral and income is not normally considered by the banks. In some cases you will need a co-signer or fiador. Even then, interest rates are very high so it is probably more practical to bring funds from abroad. In addition, many properties don't qualify for a mortgage. Beachfront property with a permiso de uso doesn't qualify for a mortgage (not even for Costa Rican citizens) because the land is technically owned by the state, not the occupant. Untitled property is also non-attachable, therefore, unable to mortgage. On occasion, some terms may be negotiated with the seller but are usually short in length. For these reasons, most all real estate transactions are paid in cash upon closing.
Collection of land taxes was turned over to the local municipalities several years ago. Before 1995, property tax or vienes imuebles on private land was 6% of the declared value based on the Tax Law No. 7509. In May of 1995, this code was changed and the tax was lowered. According to the new law No. 7729, taxes are based on 0.25% of the declared value. In most cases, values claimed are lower than the actual selling price. Maritime property or permisos de uso pay an "occupation tax" called a canon. Improvements, like a house added to land, are taxed in addition to the canon and a vienes imuebles tax based on the value of the construction is paid. Once a beach property has been awarded a concession (only after an approved zoning plan is in place) the tax goes up dramatically and depends mostly on how the property was declared, i.e. residential, commercial etc.
Residents, non-residents and corporations generally are subject to tax only on their Costa Rican source income. For this reason, Costa Rica offers no credit for foreign taxes paid on foreign source income by Costa Rican residents or non-residents. Tax rates are 30% on corporations, 30% catch-all rate on non-residents, and a graduated scale of 10% - 25% for nationals, depending on the type of income. There is no capital gains tax in Costa Rica, unless the income is derived from "habitual" activities. National sales tax is 13%.
There is no capital gains tax in Costa Rican unless the income is derived from "habitual" activities. There has however been discussion that a Capital Gains tax may be introduced in the coming years.