costa rica property for sale - finca las brisas community lot purchase opportunities                                

A select group of Costa Rica property for sale is now available at pre-construction prices by Finca Las Brisas. The Costa Rica property (individual lots) listed on this page are 5,000 square meters (1.25 acres minimum) and will be available at the prices listed below through March 1, 2008 (prices subject to change at any time).

*The buyers of each of these initial lots are also entitled to complete access to the proposed Finca Las Brisas community areas such as: 

• Community center and naturalized infinity pool (View community center concept)

• Yoga/massage platforms

• Nature center

• Commercial kitchen

• Office/laundry facilities

• Rivers/forest preserve with water falls & swim holes

• Extensive hiking trails

• Tree houses/observation platforms

• Horse corral

• Organic fruit and vegetable farm

Water lines to lots to be installed & functioning at no additional charge.

Eastside Caretaker house with caretaker to be on site in 2008. Westside Caretaker house proposed for 2009.                                                                                                         

Cost Rica Property and Lot Layout:

The Master plan below identifies the community area but not the entire Finca Las Brisas property.  Click to download full Master Plan in pdf

Lot sizes are in square meters. One hectare = 10,000 sq meters. 5,000 sq meters = 53,820 sq feet, or 1.24 acres.

Note: These lots are finalized for submission to the Registro Nacional (National Registry) and will be available for closing March 1, 2008.

If you are interested in securing a particular lot at any time prior to November, this can be accomplished with a 10% refundable deposit that will be placed in an escrow account.  If at any time prior to the lot being registered and available for closing, you change your mind, your deposit will be refunded in full within ten (10) business days.

Click to view:

Map of Finca Las Brisas rivers and streams

Map of primary types of vegetation

Topographical Map

Lots Currently Available:

(*Note: prices subject to change at any time. Additional lots will be available in the next two years).

Terms:

Note: For construction plans, buyers may use their own contractor and design plans, with FLB approval. For additional information, contact FLB at info@fincalasbrisas.org

Lot Purchase Process:

Purchase of property in Costa Rica is easy and safe for non-residence and non-citizens. However the steps and process is unique to Costa Rica.

At Finca Las Brisas we secured the best legal and real estate representation to help us with all transactions. We are also open to you involving your own legal and real estate representation in all steps in the purchase of property. Finca Las Brisas is also owned by people who will be neighbors with all of the other property owners so we are going to be completely above the table regarding all of the steps and costs associated with purchasing property in Costa Rica and we hope the following description is helpful to you in your evaluation of land purchase.

Based on our legal, tax, and real estate research, we have developed what we think is the best model for purchasing property in Costa Rica. We clearly want to explain our model since it is a bit different than the way most of us purchase property in the US or Canada.

Please note, the following description is just an overview and we are available to educate, discuss, or answer questions related to purchasing property. Out intent is to help you to begin thinking correctly about property acquisition and the best way to acquire land in this wonderful country of Costa Rica.

“Sale of Land Through a Costa Rican Corporation”  Model:

Costa Rica law allows anyone (Costa Rican citizen, resident, foreigner) to legally own land. You could purchase property pretty much in the same way you might purchase property in the US or Canada. A company or an individual could sell you property and you own that land as an individual.

However, there is a better way to purchase property in Costa Rica and Finca Las Brisas has gone to great lengths and costs to provide this opportunity to all of our lot buyers. Instead of selling and buying property between individuals and other entities, property can be owned by a corporation, and then as a private transaction the corporation can be transferred to a new owner.

Each of our lots are registered in the Costa Rica Land Registry Office with its own registry number. Each lot is owned by a unique anonymous Costa Rican corporation (LIMITED LIABILITY CORPORATION) and anonymous Costa Rican corporation (LIMITED LIABILITY) that is registered in the Costa Rica Registry of Corporations. If you purchase a lot from us, that transaction is facilitated by you acquiring a corporation that owns that single lot. If you purchased two lots, you would acquire two individual and anonymous Costa Rican corporations.

In Costa Rica the Board of Directors of the limited liability corporation is comprised by a minimum of one manager. The shareholder(s) and signing officer have full power of attorney to act on behalf of the corporation. Once the shares are transferred to the new owner the corporation is entirely yours.

In a way, you could think of this as "Corporation Acquisition" vs. just "Land Acquisition."

Transferring ownership of a corporation (which happens to own a lot) to you has several advantages over buying property and owning it as an individual, including the following:

1) No Land Transfer Tax is Paid. If you own real estate in your own name, you will have to pay a land transfer tax of 2% and legal fees of 2.5% for a total of 4.5% of the purchase price when you sell the property. By acquiring the existing corporation the buyer will save the 2% of the transfer tax and will have to pay the 2.5% for the acquisition of the corporation. If a Costa Rican corporation owns the property instead of you (you control the corporation), land transfer taxes do not apply because you transfer the shares of the corporation to a new buyer, friend, or family member instead of actually selling a property. There will be a corporation acquisition fee of 2.5% that the new share owners will have to pay but you will not be taxed on the sale of the land. Technically, under current Costa Rica law, you would not be selling land, but transferring the ownership or shares of the corporation to the new owner. When the corporation acquisition is completed you are no longer involved in that corporation, or the land owned by the corporation in any way. 

Note: If purchase property in any other way in Costa Rica, and then sell that property you will be taxed for the transfer of title, there could be capital gains in Costa Rica if more than two properties are sold within one calendar year, and you will be taxed in your resident country. In other words, purchasing property in any other way could create a tax burden and double taxation.

2) No Capital Gain Tax. With this model, transfer of the corporation to new owners is viewed as a private transaction and not the sale of property by Costa Rica law. For example, with this model your heirs could avoid the high Costa Rica inheritance taxes because your corporation shares can be willed to them, who then simply appoint themselves to the Board of Directors who then fulfill the duties of the corporation. Again, Costa Rica law does not tax the transfer of corporate share, which of course includes anything that the corporation might own including property.

3) Greater Level of Discretion. You will be the officer of a corporation that owns the property. It is difficult to obtain information about who owns the shares of the corporation. Similar to way of protecting information about assets in the US, the type of corporation we have created for each lot buyer offers a high level of anonymity that does not come with owning property as an individual.

4) Decreased Liability. As in the US, liability is decreased by having property assets registered under individual Costa Rica corporations. Although Costa Rica is not a litigious country, land owned by a corporation does provide increase liability protection.

5) Investment Protection. Perhaps the most important reason for acquiring your lot in this fashion in our community is that each corporation (lot) within the Finca Las Brisas community will have a legally binding “constitution” – in reality our “Landowner’s Agreement,” or community covenant. This constitution (feel free to request a copy) will protect each and every lot owner’s investment, as it will ensure the aesthetic integrity, limit environmental impact, support community projects, and secure sustainability for the entire project. 

Typical homeowner agreements and community covenants that we are use to in the US are not legally binding in Costa Rica. This approach is the best model available for protecting your investment of property in Costa Rica.

Financing:

Financing is available with us or through several Costa Rica lending agencies. Please contact us for details.

Construction Process and Costs:

For information on construction process and costs, please click here.