Frequently Asked Questions

Find out the most frequently asked questions and the essential information to know before buying a home in Costa Rica at our villages. Explore the detailed technical specifications of our residences for an informed and safe choice.

Is the property being registered?
The property is registered at the registry office in San José, capital of Costa Rica.

How and where is ownership registered?
It is registered by the Notary Public.

What and how much are the property taxes in Costa Rica?
Property taxes are municipal (municipality of Santa Cruz), are paid once a year and are generally paid by the condominium administrator; for a villa they are about 0.25% per year calculated on the cadastral value declared at the time of the draft.

What guarantees do I have to keep my property in a foreign country?
The guarantees are practically the same as the Italian ones. The Republic of Costa Rica is democratic.

Is there a land registry?
Real estate is regulated according to a law similar to Italian law. There is a National Registry (the equivalent of our land registry); each property is identified by a number, through which it is very easy to collect data relating to the area, borders, measurements and ownership. A notary will draw up and authenticate the notarial act.

If I want to make a change, do I need permissions? How does it work?
Permissions for changes are issued by the condominium administrator.

How long can I stay in Costa Rica?
An Italian citizen without residence can stay in Costa Rica for up to 6 months a year.

Is it possible to transfer your residence?
Yes, it's possible. It is necessary to apply and meet one or more of the following requirements:

• Pension in Costa Rica of at least $1000 per year;
• A property owned in Costa Rica with a cadastral value of at least $150,000;
• A work permit.

What are the taxes for those who work in Costa Rica?
They vary from 5% to 30% based on the declared income.

What are the taxes for those with incomes and pensions in Italy?
In Costa Rica there is no 'world wide tax', so you are not taxed in CR for income produced abroad.

What are the taxes for Italian retirees?
If you live in Costa Rica, you will normally receive your pension as if you were in Italy.

Why should you choose Costa Rica over other countries with low taxes and a mild climate all year round?
Because it is an elegant country, culturally similar to Italy, with excellent prospects for future development, which offers real prospects for income.

Where is the draft made and with whom?
The Deed must be done in Costa Rica by a Notary Public.

Can I use my trusted notary?
No, because the establishment of the condominium is done by our notary. However, it is possible to be assisted by your trusted notary.

What is the name of the company I buy from?
Gucabe del Norte S.A.

Average what does it have to do with Gucabe?
Promedia is only a Tour Operator specialized in Costa Rica.

How long have they been around?
Since 1993.

Can I fence off my area of expertise?
No it is not possible because the area is common to the condominium itself.

Can I extend the pergola or make changes to the appliances? What should I do?
You must apply to the condominium administrator.

When buying the property, do I have full ownership?
It is full absolute ownership (as in Italy).

How does the village work economically, is there a condominium administrator?
The administration for the first year of management waits by law for the builder, then passes to a condominium administrator.

If I want to resell it tomorrow, can I do it myself or do you think about it?
We can take charge of the resale but, in any case, the owner is free to do it independently.

How and by whom is the sale taxed?
The sale is taxed by the Government through the notary public, who collects the charges and taxes on behalf of the government.

If I want to host friends in my house, can I do it?
It can be rented and hosted freely (according to law).

Do I need to notify anyone of their arrival?
Generally, the condominium administrator is notified, while if the villa is in our circuit, just notify Promedia.

Who can take care of the maintenance during periods when I am not there?
Gucabe has special maintenance subscriptions, while if the villa is in the circuit, the cure is at the expense of Gucabe.

With the purchase of the property, am I entitled to a parking space in the parking lot?
No, the parking lots are all condominium parks and cannot be reserved.

If I buy a share, how do you organize yourself for the periods in which you want to stay in Costa Rica and those in which to receive an income?
You can coordinate with the construction company based on the periods available. In any case, the pension is received as per the contract.

How much is the tax on rental income?
Taxation varies depending on the pension and the modalities.

After 3-5 years can your management contract be renewed or not?
Sure.

What are the taxes for those who buy apartments and then resell them in Costa Rica?
Based on any capital gain realized, the Costa Rica taxes seen above will apply.

Do I need to take out insurance? Do you have any examples? How are they regulated?
Generally, insurance is made by the condominium administrator on fire and other events.

Where can I get the furniture? Do you have any suggestions?
We are available for furnishing proposals.

How can payments be made?
Payments must be made to the selling company Gucabe del Norte S.A. by check or bank transfer.

What are the costs of supplying electricity/water and gas? Who do they get paid to? Is there a counter?
For electricity there is a private meter for each villa (the cost of electricity is about a third compared to Italy), for water the villages are autonomous. Gas is banned.

What are the common items of expenditure? Can I not participate in some of these and 'get by' myself '?
The condominium expenditure items are as follows:

1. Administrator compensation
2. General lighting (pool pump, water pumps, garden lighting)
3. Garden, pool and common area maintenance
4. Guardiani

Various

As far as condominium expenses are concerned, participation is mandatory.
The annual cost for a one-bedroom cottage is around $1,000.00.

How much can I expect my property expenses to be in 1 year or 2 or 5 years?
The cost in condominium terms varies up or down compared to the national economy of Costa Rica. Generally, the increases in the last 10 years have been low, about 5% per year.

Thinking about buying as an investment, what can I expect?
The recapitalization of real estate in the Guanacaste region area is approximately 15% per year.

What is the minimum investment to buy a property with Flor de Pacifico?
Property prices start at 150k.
Capital purchases, on the other hand, start at only 50k.

What are the economic benefits?
The annual revaluation of the property (and therefore of the capital) of about 10% + the rental income, produce a total of about 15% per year.

What are the chances of finding a job in Costa Rica for those who want to move?
The chances are very good, especially with the formula of being a freelancer or a business activity.

Are there any construction standards?
There are construction standards that are controlled by government inspectors.

Is the house anti-seismic?
Yes.

What are the construction guarantees, what do they cover and for how long?
The construction guarantees by law are 5 years and cover the structure.

What materials were used?
Generally, the buildings are with a system of reinforced concrete pillars and beams.

Are the interior walls made of plasterboard or masonry?
The internal walls are generally made of concrete blocks.

If I want to modify a system or install additional equipment (dish, telephone, etc.), what should I do?
The villas are all equipped for telephone and cable TV.

The electrical voltage is 110 or 220, how many kW does the supply withstand?
The current is 110 v and 220 for air conditioning and kitchen appliances only.

Is it possible to install a gas stove instead of an electric one?
NO, IT'S FORBIDDEN.

How big are the apartments?
The properties range from 70 square meters, up to more than 200 square meters.

Where are the villages located?
In Potrero, in the Guanacaste region.

Who are the builders?
Engineer Roberto Botti is the entrepreneur who founded Flor de Pacifico in 1993.

Why did they build in that specific area of Costa Rica?
Because it is the area with the best sea climate, and the best conditions for future development.

What's the climate like?
There's no such thing as winter. 30 degrees all year round.
Rain and humidity vary depending on the season.

How are the services?
Efficient and with European quality standards.