Home Real Estate Tips Acquiring beachfront properties in Costa Rica
Acquiring beachfront properties in Costa Rica

Acquiring beachfront properties in Costa Rica

Maritime Terrestrial Zone
You need to be familiar with Maritime Terrestrial Zone that is currently implemented by the Costa Rican government.
There are four areas specified by zones by the government. Here’s a summary per zone:

• The Public Zone Area has been set at the first fifty meters from the beach (high tide) – no construction of any kind is allowed.
• Restricted Areas have been imposed from 150 meters after the public zone area has been marked (roughly 200 meters from the beach area – high tide) – buildings up to three stories are allowed to be constructed. This zone is currently under the jurisdiction of the local government (municipality). The Tourism Department also monitors these areas.
• Intermediate areas have been set about 800 meters from the end of restricted area – buildings up to five stories are allowed to be constructed.
• Exterior zones have been set up to four kilometers from the intermediate zones – buildings up to eight stories are allowed to be constructed.

There are incidents wherein the area across the beach had a title. These are exceptions to regulations because these titles already existed during historical times. During the Spanish regime, the individual who claims a land can get a title of the property under his name. Another exception is the assignment of the title prior to the implementation of Maritime Terrestrial Zone.

The Tourism Department (Instituto Costarricense de Turismo) is designated to monitor these areas as mandated by law. ICT also has the right to approve concessions that were submitted by the solicitors to municipal governments. The department has the power to classify a certain beach area within the terrestrial zone to be of “tourist interest.”
If you have an intention to have a concession on these areas, you must first need to acquire the occupancy rights on the beachfront property. Another option is to purchase rights from another individual. After doing this, you can present the application together with the public deeds to the local municipality that has the jurisdiction over the said site. Once the concession has been given to you, you need to proceed to ICT for the approval of your application.

By the way, before you proceed in buying the occupancy rights, make sure that you ask the seller first where he got the public deed and demand for other documents including the certification from the municipality to prove that you are transacting with a legitimate owner of the rights.

National Concessions Registry
After your concession is approved by the ICT, the titled property can now be registered at the National Concessions Registry, located just within the same area of the National Registry office itself.
The reason behind this is to make sure that everything is properly recorded about the title, location, ownership and others.

Here are the requirements to avail of a concession:

• Acquire occupancy rights on the property within the Restricted Zone.
• Create markers to designate the beachfront property that you want to acquire. This can be made by contacting the IGN office (Instituto Georgrafico Nacional)
• Secure a “plan regulador” or zoning plan which specified the use of the land. You can contact a private company to create the zoning plan for you. Contact ICT for the official list of companies that offers these services.

Another effective method to apply for your concession is to coordinate with fellow landowners within the area to come with a unified request for a comprehensive zoning plan. The plan will then be submitted to ICT for review and approval. ICT, on the other hand, will coordinate with INVU or Instituto Costarricense de Vivienda Urbanismo with this approval.
ICT maintains its policy wherein municipalities are prohibited in authorizing constructions in the restricted zone until such time that an approved and certified zoning plan is present. By then, the municipality will have the authority to proceed with the development project.

Occupancy Rights
Owners that have occupancy rights at the restricted zone can transfer such through public deed of cession. This is created with a Notary Public and the payment of an amount is not mentioned. Deed of cessions must include the measurement, boundaries, location and details of transfers from previous owners of the aforementioned occupancy rights. Always make sure you have your own attorney during this time so that you will be informed properly with what is happening.
By the way, as a foreigner, you need to have five years minimum residency in Costa Rica before you are qualified to acquire concession on a restricted zone. Meanwhile, corporations based outside the country and companies that own more than 50 percent of the shares are not qualified to gain concession.

The concession period may last from a minimum period of five years to a maximum duration of twenty years. You do have the option to renew before the expiration date takes place.

 

Newsflash

Property purchase guidelines in Costa Rica

It is without a doubt, a great investment to purchase a property in Costa Rica. This is due to the fact that the country is currently enjoying a boom in real estate. This means that properties are being sold at reasonable rates. Surely, you envision yourself having your very own house or condo in this Latin American paradise. A lot of people are sharing your feeling right now, including the retirees who are thinking of spending their remaining years peacefully in Costa Rica.
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