I have been a real estate agent since before condominiums and gated communities even existed in Costa Rica. Even in those days, security was an issue. Due to a lack of social welfare and being a developing country, petty thievery and breaking and entering has always existed in Costa Rica, so the creation of condominiums was a good idea.
One of the major proposed changes would swap the current sales tax for a value added tax that would encompass services as well as goods. Tourism activities would be exempt for the first year after the law goes into effect, then charged 5 percent in the second year, 10 percent in the third and 15 percent starting the fourth year.
Even after you've closed on the purchase of a property in Costa Rica, paid your closing attorney his fees and transfer taxes, paid your bank the lender’s fees and administration fees and you are the proud new owner of a home in Costa Rica, you're still not done. Here's what you have to do next.