Belize is widely known for its beautiful landscapes, incredible biodiversity, and some of the friendliest people in the Latin tropics. It’s also celebrated for the Belize Barrier Reef, the largest in the Western Hemisphere and the second largest in the world, and the Great Blue Hole.
Thanks to these oceanic features and the incredible opportunities they provide for diving, fishing, and exploring, much attention is given to the many islands or cayes that dot the waters of the country’s coast.
Tourists and expats flock to destinations like Ambergris Caye and Caye Caulker, seeking what they hope will be an authentic Central American experience with postcard-worthy beaches and a laid-back lifestyle, far from the madding crowd.
I hate to be the one to break it to them. But to find exactly that, they’ll need to head to a destination just a little bit further south. On the mainland.
Ken Douglas
The Caye You Can Walk To
About 3 hours south of Belize City, and a comfortable drive thanks to the recently paved Southern Highway, lies the Placencia Peninsula. Or–as the early Spaniards called it–Punta Placencia, which means “Point Pleasant.”
And the area lives up to its name, as what you’ll find as you travel the length of the 16-mile long peninsula is nothing short of pleasing. In fact, Placencia, Belize has almost, if not all, the same perks as its island counterparts. Yet with one obvious exception. It doesn’t require a plane or boat to get there.
Placencia Has Better Access to Water Adventure than Belize’s Islands
The Placencia Peninsula divides the Caribbean Sea on the east from the protected Placencia Lagoon to the west. As a result, it offers many additional opportunities for exploration than some other popular destinations in Belize.
Because the reef extends for miles, parallel to Belize’s coastline, Placencia also offers easy access to spectacular diving and snorkeling sites. Divers of all skill levels can see the famous whale shark and many other species on both the reef as well as the many caves and atolls near the peninsula.
In addition to its ocean offerings, the Placencia Lagoon also houses species such as saltwater crocodiles, endangered manatees, turtles, dolphins, and stingrays. In its mangrove forests are various species of fish and birds, as well as rare species of coral.
The waters off the coast of Placencia are also great for sailing as well as fishing for wahoo, snapper, kingfish, and more. There are also some excellent spots to go fly fishing in the lagoon. Kayaking and cave tubing round out the menu of Placencia’s water adventures.
Suzanne Schroeter
Some Placencia Water Adventures Culminate with Land Excursions
Another benefit of being a mainland destination is that Placencia also offers river tours, such as those that journey up the Monkey River, so named for the howler monkeys you’ll find at the end of the tour. Along the way, boaters can see iguanas, turtles, and rare birds before hopping ashore for a jungle tour under the forest’s lush canopy.
Another popular land excursion is to the Cockscomb Basin Wildlife Sanctuary, a 128,000-acre jungle preserve which contains all five species of Belizean wildcats: ocelot, puma, margay, jaguarundi, and jaguars. Its nearly 300 bird species include scarlet macaws which fly in formations of up to 40 birds.
The Maya Mountains also lie just across the lagoon from Placencia. There you’ll find the ruins of Nim Li Punit and Lubantuum, as well as some incredible waterfalls and rapids.
But Nothing Can Top Placencia’s Beaches
Even the most devoted of the island lovers agree; the beaches along the coast of Placencia, Belize, are hands down the most beautiful in the country. They’re shimmering white, surprisingly wide, and they stretch for roughly 16 miles down the peninsula’s coast.
As a result, it’s entirely possible to find a secluded spot where you can swim or sunbathe completely alone, or with your favorite companion. The docks that jut out into the waves are few, allowing for an uninterrupted view of the Caribbean Sea and an unobstructed path for sunset strolls.
No one can argue with the fact that Placencia is the real Belizean beach that deserves to be on the back of a postcard.
Placencia, Belize Offers the Real Caribbean Culture Many Island-Goers Seek
Many expats choose to settle on one of Belize’s islands due to the high level of development and infrastructure that comes with living in a popular tourist destination. What they don’t count on is the fact that they’re trading North American-style amenities for authentic culture.
While the islands can lean a bit towards the touristy end of the spectrum, Placencia is about as genuine as you can get, starting with its people. Placencia’s population includes people from many ethnic groups including Latinos, Creoles, Maya, Mennonite, Chinese, East Indian, European, and North American.
There are also the Garifuna people, descendants of African slaves, who settled in the town of Seine Bight in 1832 and remain there to this day. A trip to this village, just north of the peninsula, offers the chance to taste Garifuna cooking and listen to their native music.
Everyone in Placencia is warm and welcoming. To the unassuming residents, not much has changed in recent decades as the town has progressed from a sleepy fishing village to an albeit lesser-known haven for expats and tourists.
Locals still work as fishermen or tour guides. They’re a close-knit community with regularly held events and celebrations and a vibe that most agree is much more authentically Caribbean than what’s manufactured on some of the island developments.
Philip Larson
Yet It Still Offers World-Class Amenities, In a More Charming Setting
That’s not to say that Placencia doesn’t have plenty to offer, compared to its more developed counterparts. Quite the contrary. Recent improvements and newly opened businesses continue to make Placencia, Belize an incredibly comfortable place to live.
The northern part of the peninsula is more sparsely populated. As a result, that’s where you’ll find some of the high end resorts and all-inclusives.
As you travel south, there’s a higher concentration of consumer options like coffee shops, banks, bus stations, restaurants, bistros, and internet cafes. Yet even the main part of town has no paved roads, only sidewalks, which helps it maintain its small-town charm.
Real Estate in Placencia, Belize is Also Pleasantly Affordable
Thanks to recent infrastructure improvements, like the newly paved roads, the area is seeing a boom in tourism and development. As a result, property values are on the rise.
They’re far from maxed out though, as Placencia is still a great place for potential expats or investors to find beachfront property in Belize at a reasonable price. Another perk to buying property in Placencia, Belize is that the process is made simpler since English is the official language and the U.S. dollar is accepted as currency.
Another thing that makes Placencia, Belize real estate a smart buy is the opportunity to invest in tourism. Norwegian Cruise Lines is now shuttling tourists from its private port on nearby Harvest Caye. With that influx of visitors comes an increased need for businesses catering to tourists.
If buying a boat and offering fishing charters or opening up a beachside smoothie stand sound right up your alley, then maybe you should consider Placencia, Belize. You’ll love the locals, and you can’t beat the view!
If you know anything at all about Costa Rica, you’re likely aware that it’s tropical, beautiful, and a great place to go on a honeymoon. You may also know that it has some of the world’s best surfing and sport fishing.
Here are 19 lesser known facts about Costa Rica that show why this popular expat destination is worth a second look, whether merely for a visit or as a potential place to start the next chapter of your life.
1. There is no official military in Costa Rica.
Costa Rica abolished its armed forces in 1949 and has no standing military; however, the country still maintains a small force to enforce laws and assist with foreign peacekeeping.
2. Costa Rica welcomes over 2 million visitors annually.
Since 1994, tourism has been Costa Rica’s leading industry with over two million visitors arriving every year.
3. Costa Rica is home to 6 active and 61 dormant, or extinct, volcanoes.
Arenal Volcano, at 5,479 feet (1,670 m), last erupted in 2010. It is the most active volcano in Costa Rica and one of the most active in the world. In 1968, Arenal erupted and destroyed the town of Tabacón.
4. Natives Costa Ricans call themselves Ticos and Ticas.
Costa Ricans affectionately call themsleves Ticos and Ticas after their linguistic tendency to add the diminutive “tico” to the end of many words. This suffix may refer to smallness, but also implies fondness or affection.
5. Costa Rica is one of the top 20 countries in the world for biodiversity.
While Costa Rica represents only .03% of the earth’s land mass, it possesses fully 4% of all known living species of flora and faunas.
6. Costa Rica grows a world class cup of Joe.
Coffee was introduced to Costa Rica from Jamaica in 1779 and now there are over 247,104 acres of coffee plants growing in Costa Rica, making it the 13th largest coffee exporter in the world.
7. You will pay with “flour” when shopping in Costa Rica.
Not really. The official currency is called the colón, but Costa Ricans often use the word harina (flour) to refer to their money as well.
8. The Central Valley has a history of witchcraft.
The most famous place in Costa Rica for witchcraft is Escazú where it’s rumored that people continue to practice their rituals in mountain caves. Today Escazú is a rich suburb of the capital, San José, where you can find brujas (witches) offering tarot card readings and more.
9. Isla del Coco is the most remote and largest uninhabited island of Costa Rica.
This island is nearly 360 miles into the Pacific Ocean, southwest of the mainland. You might have seen this island in the opening credits of the Steven Spielberg film “Jurassic Park.”
10. It’s not a big deal to see someone walking around with a machete in Costa Rica.
Costa Ricans use machetes for everything and often keep one on them. They’re considered the Costa Rican equivalent of duct tape and are just as common in the countryside.
11. Costa Rica is slightly smaller than Lake Michigan.
Costa Rica is about the size of West Virginia and has approximately 19,730 square miles, 801 miles of coastline, and population of around 4.1 million people.
12. Every Costa Rican radio station plays the national anthem each morning at 7 a.m.
Radio 107.5 FM, the country’s only all-English radio stations offers rock from all of the decades. Super Radio 102.3 specializes in the oldies. Radio 95.5 plays jazz and fusion.
13. Ice cream flavors in Costa Rica are interesting, bordering on weird.
Popular flavors include coconut, goat cheese, wild blackberry, peanut, chipotle blueberry, chocolate almond, and more.
14. “Pura Vida” is a happy, feel-good expression.
“Pura Vida” is used regularly by the locals when asked how they are, or in passing to say “hello” or “goodbye.”
15. Costa Ricans enjoy a life expectancy of 79, one of the highest in the world.
The country also receives international praise for its modern healthcare system, where it’s ranked 36th in the world by the World Health Organization (WHO). The Nicoya Peninsula is one of the world’s seven Blue Zones, a place where people live longer and happier lives, with a high concentration of people over age 100.
16. Eco-tourism is leading the way in Costa Rica.
With its abundant natural resources, diverse landscape, exotic marine life, and rich biodiversity, Costa Rica is leading the eco-tourism boom. In 1995, tourism overtook bananas to become Costa Rica’s leading foreign exchange earner.
17. Costa Rica is home to four UNESCO World Heritage Sites.
UNESCO has designated four locations in Costa Rica as World Heritage Sites for their universal cultural and natural value. They are La Amistad National Park, Cocos Island National Park, Area de Conservación Guanacaste, and the Precolumbian Chiefdom Settlements with Stone Spheres of the Diquís.
18. Costa Rica is one of few Latin America nations to have street signs.
In 2012, Costa Rica’s capital, San Jose undertook a $1 million project to reintroduce street signs and a more regulated postal system. Before that locals used landmarks to give directions.
19. Costa Rica ranks #1 on the Happy Planet Index.
The Happy Planet Index uses three criteria—life expectancy, experienced well-being, and Ecological Footprint—to determine the overall happiness levels of 151 countries across the globe. With a score of 64.0, Costa Rica tops this list. The United States, for comparison has an index of 37.3.
So the next time you find yourself in Costa Rica, you won’t be caught off guard when you hear one of the expressions mentioned in #7 or #14. Make sure you plan a trip to one of the sites in #17, and–unless you want to look like a tourist–don’t lose your mind when you witness #10!
Big wave surfing is a sport of confidence where participants will themselves over the edge of 50-foot mountains of water. On this episode we speak to award-winning and renowned professional big wave surfer Greg Long about what it is like to survive a near-drowning and then try to find your confidence again.
We talk about when he almost died surfing giant waves at the mysto spot of Cortes Bank, six hours off the coast of California. Greg takes you inside the two wave hold down that almost ended his life and remembers the exact decisions he made before his oxygen expired.
We dive into the process of fighting back after an almost tragic accident to get to the top again and have the confidence to surf big waves. Greg’s candor allows the listener to really gain insight into his struggles to return to form and understand how a world-class athlete shakes it off and finds fulfillment once again.
Check out this rare discussion where a top performer lets you inside his head in a very humble and candid conversation.
A must-listen.
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Crucita, Ecuador has the reputation as one of the top spots in the world for paragliding and hang gliding. The pristine beaches and largely undeveloped area are rapidly become a magnet for expats and investors seeking that unique blend of adventure and potential.
Corinne
Crucita, Ecuador – From Fishing Village to Adrenaline Central
The area known today as Crucita, Ecuador is an attractive beachfront town in Manabi Province of Ecuador. Located 40 km (25 miles) from the port city of Manta and 28 km (17 miles) from the province capital of Portoviejo, Crucita has become the most visited beach destination in Ecuador.
Crucita, Ecuador’s Beginnings
The Pacific coast in and around Crucita, Ecuador has been occupied since pre-Columbian times by the ancient Manta people. In 1895, the Bishop of Manabi, Peter Schumacher, erected a cross at the local church as part of the celebration of the month of the Virgin Mary (May) and the Holy Cross. From that point on, the location has been known as “Crucita” (little cross).
On May 25, 1978, Crucita Portoviejo was designated as an urban parish. Although small (current population is around 12,000), Crucita will continue to expand as sports enthusiasts, expats, and investors are drawn by the opportunities in real estate that await there.
Crucita – Adrenaline Central
Paragliding and hang gliding enthusiasts have discovered that Crucita, Ecuador has near-perfect conditions for these extreme sports. The miles of open beaches, constant Pacific breezes, and hostels and lodges catering to “gliders” have given Crucita worldwide exposure as the place where you can truly “spread your wings”.
Ministry of Ecuadorian Government
Crucita, Ecuador and Jaco, Costa Rica – A Tale of Two Cities
Comparing Crucita, Ecuador and another popular Central American beach location, Jaco, Costa Rica, can provide a glimpse of the future potential that awaits there. The similarities between the two communities are striking and the pathway for growth in Crucita follows a similar arc to its more developed neighbor.
Prior to the late 1970s, Jaco was little more than a fishing village. With improvements to local infrastructure (water system 1976, highway access 1978, improved electrical system 1981), Jaco began to see a real surge in development.
At the same time as Jaco was growing, surfing enthusiasts discovered the white water and challenging waves that are a regular feature in and around the Jaco area. Before long, the region became known worldwide as a surfing mecca with weekly contests, festivals, and year-round celebrations of “the endless summer.”
Improvements in Infrastructure, Enhancement in Potential
Where Jaco became a surfing magnet, Crucita, Ecuador has become a world famous destination for the high-energy and altitude sports of paragliding and hang gliding. While both rely on wind and weather, hang gliding is the older of the two styles, (hang gliding 1960s, paragliding started in Europe in the mid-80s) uses a heavier “wing,” and can be more of a challenge to transport on air carriers.
Crucita, Ecuador is also seeing infrastructure improvement that makes living in this Pacific location much easier. The latest project is a four-lane highway from the province capital, Portoviejo, which will reduce travel time and improve access; the highway between the international port of Manta and Crucita has also been rebuilt.
The increasing interest in the area is also leading to upgrades in electricity, municipal services, and better internet and cable television. A long-term tourism project, known locally as Balsamaragua, is also expected to enhance the desirability of Crucita as a destination and investment location.
What Does It Cost to Live in Crucita, Ecuador?
One question that potential expats or investors need answered is what is the cost of living in Crucita, Ecuador? Like much of the rest of the country, the prices for such items as food, utilities, and rent is more affordable than in many Central American locations.
Averages for rent in Ecuador can run from $250 per month outside major centers to $1000 per month in larger cities such as Guayaquil and Quito. As a smaller town, Crucita’s rents are definitely in the lower end of this spectrum.
Utilities such as electricity, water, and garbage are also reasonable and can run as little as $40.89 average per month. With Crucita being on the coast, air conditioning may make for higher electricity costs.
Vacation ROL
Investment Possibilities in Crucita, Ecuador
Crucita, Ecuador is becoming a focal point for both expats considering a retirement option and investors seeking to maximize their returns as the number of tourists continue to grow. With a large amount of underdeveloped and undeveloped land still available, Crucita’s real estate market is poised to see true growth potential.
Importantly, Ecuador adopted the U.S. dollar as its currency in 2000. As a result, many of the issues (conversion values, fees, etc.) that are encountered elsewhere in Central America are not a concern here. Crucita, Ecuador promises to be a location where the dollar certainly can retain its full value.
The Challenges of Becoming an Expat in Crucita, Ecuador
For all the upsides that Crucita offers, the rustic beach town lifestyle may not suit everyone’s idea of a Central American retreat. Since Crucita is a developing community, many amenities that are in found in larger cities and towns are lacking. If having a more modernized environment is important, Crucita may not be the best fit.
Though the number of expats is growing, the expat community as a whole is still small. As a result, being able to speak and understand Spanish is very important and may present a challenge to moving to this Pacific paragliding paradise.
Ironically, one of the major draws of Crucita may also be a major drawback for those looking for a quiet oceanfront home. The various festivals and competitions that bring in paraglider and hang glider participants can make for a more lively atmosphere than some expats may be looking forward to.
Crucita, Ecuador – Take the Leap of Faith
There is a wealth of opportunity that can be found on the beaches of Crucita, Ecuador. There is no substitute for making a journey to Crucita to get a true sense of whether this growing area is a place to build a Pacific future. Much like those who launch into the Crucita skies to paraglide, taking that leap of faith is the first step to finding out what the future may hold.
Map of Crucita, Ecuador
Crucita, Ecuador Fast Facts
- Population: 10,000
- Typical temperature: Average temperature of 75 – 80 degrees Fahrenheit
- Major airports with U.S. flights: Mariscal Sucre Airport (Quito, Ecuador)
- Nearest U.S. consulate: Quito
The first man to jump from a helicopter, then land on the ground below safely, without a parachute.
- Getting lit on fire and jumping from a building.
- Exiting a speeding car.
- All part of the job description for Gary Connery.
Gary joins the show to discuss these stunts and more.
We dive into the psychology of the job, knowing when to go and when not to go, and what skills one develops from jumping off tall things.
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The Show Notes
Check out Gary’s historical jump without a parachute here. You can also learn much more about him on his website.
If you are inspired by Gary’s passion, sponsor him for a one of a kind stunt. Contact him at his website above.
Guatemala is a growing retirement destination that shouldn’t be ignored. Each year, more and more expats are looking towards Central America in search of the perfect retirement destination, and with stunning scenic beauty and an “eternal spring-like” climate in the mountains, it isn’t hard to see why.
But with so many breathtaking reasons to retire to Guatemala we’ve pared it down to 7 of the most important reasons to retire to this hidden gem in Central America.
Lake Atitlan – Wojtek Ogrodowczyk
1) A low cost of living
Like many places in Central America, the cost of living in Guatemala is quite low, which allows expats to enjoy a comfortable life without having to stretch their pensions thin in order to do so.
Depending on the pace of life desired, most expats coming to Guatemala choose to settle down in either Guatemala City, the colonial town of Antigua, or on the serene shores of Lake Atitlan. Each spot is unique and has something special to offer depending on your personal taste.
The largest of the three, prices in Guatemala City will be a little higher (although still much lower than back home in the U.S.). Here, a fully furnished two bedroom apartment can be rented for $500-700 per month and a three bedroom house anywhere from $1,200-2,000.
Of course, if the city life isn’t for you, the cobbled streets of historical Antigua might be more up your alley. Rent prices in Antigua are roughly 20% lower than in Guatemala City, but prices will shift depending on where in town you choose to live.
And if you are seeking small town serenity, the indigenous villages of Lake Atitlan have homes to rent for $500 a month and up.
Keep in mind, these prices are for homes that meet western standards and if you don’t mind living like the locals (no washer/dryer, cable or hot water), you can rent a home in Guatemala for significantly lower.
All in all, a couple can live comfortably in Guatemala for anywhere between $1,200 and $1,500 a month, and this will include housing, food, entertainment, transportation, utilities and even maid, handyman or gardening services if you so choose.
United Nations Photo
2) Live among the Maya
Mayan culture is still alive and flourishing in Guatemala today, and–if you choose to make it your home–you will see local Mayan citizens dressed in their traditional, colorful Mayan garb on a daily basis.
There remain to this day, more than 10 million people scattered throughout Central America who were raised with a Mayan language as their native tongue.
And despite the fact that they were largely converted to Christianity when the Spanish invaded, many of the Maya hold on to their beliefs and continue to follow the teachings of their shamans.
3) Immerse yourself in history
Guatemala is rich with history that can be experienced from the Maya-inhabited highlands to the colonial streets of Antigua.
With something to explore around every corner, the town of Antigua will take you back in time. Founded in the early 16th century, many of the town’s most significant monuments have been preserved as ruins, and Antigua today acts as a snapshot, perfectly capturing the Spanish colonial architecture of the past.
Moving away from Antigua, the Tikal National Park is home to one of the largest Mayan archaeological preserves in Central America.
Inhabited by the Maya from 6th century BC to 10th century AD, these haunting ruins provide visitors with the rare opportunity to catch a glimpse of what Mayan life and culture was like in ancient times.
Photo: Viva Team
4) Lakeside life
Another thing that is attracting expats to Guatemala, is picturesque Lake Atitlan. Icy blue Lake Atitlan is the deepest lake in Central America and is set against a mountainous backdrop of three volcanoes.
Nestled in the Guatemalan highlands, many expats seek out the surrounding villages of Lake Atitlan to experience small town life in a majestic mountain setting.
Considered by many to be the most beautiful lake on the planet, residents of Lake Atitlan spend their days hiking the winding trails, interacting with the local Maya and watching the sun set over the water as they stretch out in a hammock.
Guillero Mogg
5) Don’t forget the beaches
Even though Guatemala has both Caribbean and Pacific coasts, the beaches of Guatemala don’t receive the recognition that they deserve.
Monterrico Beach can be found on the Pacific coast and has gained popularity due to the sea turtle conservation efforts that take place on its shores. Each week newly hatched sea turtles are released onto the black sanded beach as they begin their fight to the sea.
Iztapa Beach is prime for sail fishing, and some of the fishing companies even have accommodations available directly on the beach.
If you’re a surfer, head to either Sipacate or Tilapa to find perfect waves that aren’t yet packed with other surfers. And if you crave the white sand beaches of the Caribbean, palm tree-surrounded Playa Blanco definitely lives up to its name.
6) Close to home
For many expats, one of the most attractive things about retiring to Guatemala is the short travel time to and from the U.S. Many American expats want nothing more than to retire in a tropical climate at a low cost, but that doesn’t mean they want to endure a long, gruelling plane ride in order to get there.
Sharing a border with Mexico, Guatemala provides expats with the best of both worlds. A tropical haven, not yet choked with tourists, conveniently located close to home.
7) Visa options
For those thinking of retiring to Guatemala, the Guatemalan government now offers a Pensionado program, a permanent residency that will allow anyone to live in Guatemala indefinitely.
A Cedula (national identity card) will allow the Pensionado expat to open a Guatemalan bank account without having to show their passport.
The application process will take 7 to 10 days and is strictly for retired or disabled individuals. A monthly income of $1000 per individual and $1200 per couple is required and this income cannot come from an employer. You can however be self-employed or generate the money from private investments.
Although five years is standard, you can apply for Guatemalan citizenship after two years of residency.
Is Guatemala for you?
A beautiful country not yet congested with tourists like other Central American countries, Guatemala is proving to be the perfect retirement spot for many expats.
So before you make the decision to make Guatemala your new home, take some time to explore the country and everything it has to offer you. Experience Guatemala City, soak in the historic beauty of Antigua, and relax on the shores of Lake Atitlan as you search for the ideal spot to settle down.
You may have noticed that a lot of our recent articles and eBooks laud Costa Rica as a great place to invest or buy a home. Our biggest reasons for that include the country’s incredible natural surroundings, unsurpassed beauty, and unmatched quality of life.
However, there’s another, more practical reason we recommend it as a place you should consider for buying or investing in property.
Costa Rica has the most favorable property ownership laws in all of Central America. It also ranks 6th (behind the likes of Chile, Uruguay, and Brazil) out of Central and South America combined.
Buying and owning property overseas, as a foreigner, can certainly present its own set of challenges. However, in Costa Rica those hurdles are pleasantly lower. Here’s the lowdown on what you need to know before you buy Costa Rica real estate.
All Costa Rica Real Estate Falls into One of Six Categories
To help narrow your focus when considering Costa Rica real estate, it’s important to know that every piece of property falls into one of these six categories, some much more common than others. Understanding the pros and cons of each type can help simplify your decision-making process when the time comes.
1. Fee Simple Property
This type of property ownership is the one that North Americans are most familiar with, as it mimics what happens when you buy a piece of property in the U.S. With fee simple ownership, the buyer owns the property and has every right to use, sell, lease, improve, and enjoy the property, subject only to Costa Rican law.
Buyers who purchase fee simple property have the most rights, according to the law, to enjoy their property and use it however they see fit. And foreigners have exactly the same rights as Costa Rican nationals.
2. Concession Property
These classifications, set forth by the Maritime Zone Law, apply specifically to beachfront property in Costa Rica or, more specifically, the first 200 meters measured horizontally from the high tide line. Foreigners cannot purchase concession property as easily as fee simple.
In fact, they’re only permitted to hold a 49% share in a corporation with a native Costa Rican. That is, unless they’ve lived in Costa Rica for five years, in which case they are permitted to be a majority owner. Here’s how that 200 meters breaks down.
- Public Area – The first 50 meters is considered a public area and, consequently, cannot be owned by anyone, including locals. Development is permitted only by approval. However, anything that’s built can be accessed by any individual who wishes to use it for enjoyment.
- Restricted/Concession Area – The next 150 meters, after the public area, is available for concession (which essentially works like a lease). Both foreigners and locals can purchase Maritime Zone property through a concession, which allows them to use it for a specified length of time (usually 20 years). They can build or alter the property, but only after obtaining a permit.
3. Property in Condominium
No, this doesn’t mean a townhome-like residence or a single unit in a high-rise development. It just means a property has been developed according to “Condominium Law.”
These laws allow developers to regulate certain aspects of the development, according to a set of by-laws that spells out all the restrictions and limitations. It’s technically the same as fee simple ownership. However, the by-laws may restrict certain aspects in order to preserve the intended look and feel of the development.
4. Untitled Property
Properties in Costa Rica are required to be registered in the Folio Real at the offices of the Public Registry in San Jose. This registry contains information on the ownership, boundary lines, liens, etc.
That being said, there are some properties in Costa Rica that have never been registered. They may have been passed down through family generations, claimed by squatters, or maybe even never occupied by anyone. This type of property is not recommended for purchase due to the difficulty in proving where the boundaries are or that the “owner” even has a right to sell it.
5. Time Share
While not common in Costa Rica, time share properties do exist. Similar to condominium properties, these offer owners the option to use a particular property for a specified amount of the year.
6. Frontier and Border Land
This category represents the only land in Costa Rica that can’t be owned, either by foreigners or locals. It’s essentially any land within two kilometers of any national frontiers or borders shared with other countries.
There Are Two Types of Purchasing Methodologies
You can purchase and own Costa Rica real estate in one of two ways. Here’s an explanation of each method.
Direct Transfer
This method is exactly what it sounds like. The buyer buys a property and takes ownership, registering it in their own personal name.
Corporations
Buying a property through a corporation is a common practice in Costa Rica. It’s a relatively simple process, with the help of a knowledgeable attorney, and allows the buyer to remain anonymous by registering the property in the name of the corporation.
Another variation of this method is for a buyer to acquire a property by buying shares in an existing corporation that already owns a property, in which case transfer taxes can be avoided since there’s technically no change in ownership of the property if the same corporation still owns it.
There are definite benefits to this method. However, there are also some risks. Namely that a buyer cannot be completely sure that the corporation they’re buying into has no other liabilities that might undermine its solvency.
Now You’re Armed With All the Knowledge You Need
So, that’s it. That’s the basics. Consider yourself ready to navigate the laws governing Costa Rica real estate. All that’s left to do is find the property of your dreams!