Owning a holiday home is Costa Rica as a Brit
Picture it – you’re on a gorgeous beach in Costa Rica, sipping a cocktail. You fancy a spot of lunch, so you head back to your holiday home. Sounds pretty good, right? Even better, what if you owned that holiday home? No more paying out for expensive hotels every time you want a luxury holiday, you could have your own place ready to go.
Let’s have a look at how it works.
Can Brits own property in Costa Rica?
Yes! One of the most attractive things about the Costa Rican property market is how simple it is for foreigners to buy property. While many countries impose complicated restrictions, in Costa Rica, foreigners have the same ownership rights as locals. This means British buyers can purchase titled property in their own name without the need for a local partner or citizenship.
There is one restriction, and that’s the Maritime Zone, which covers the first 200 metres of land from the high tide line. In the Maritime Zone, non-Costa Rican nationals are not allowed to own property outright unless they have lived in Costa Rica for five years or more. No need to worry though, there are lots of amazing properties outside this zone, particularly in popular areas like Guanacaste, the Central Valley and the Southern Pacific coast.
How can I finance it?
While it may be possible to get a mortgage to finance your purchase, when buying international property it is much simpler to be a cash buyer.
If you have investment properties in the UK already, one option could be to sell a house fast using a cash-buying service like We Buy Any Home. This frees up your equity very quickly – you could have cash in the bank is as little as seven days – and puts you in a prime position to be able to snap up your dream holiday home.
Can I live in Costa Rica all year round?
While it’s possible to apply to work or live in Costa Rica, immigrating to Costa Rica is complicated. If this is your ultimate goal, then it would be a good idea to get some professional advice and support to help you navigate the process.
If you’re just buying property in Costa Rica as a holiday home though, then it’s much easier. If you hold a UK passport, then you don’t need a visa to visit – you get a waiver as a tourist. You will need your passport to be valid for at least the duration of your trip, however, and you’ll need proof of your return travel.
The length of time you can stay is at the discretion of the immigration officer on arrival, but is typically up to 180 days. Be warned though, the practice of leaving the country and coming back again after a short period of time is being clamped down on, and the immigration officer may well give you a shorter period of time in the country if you do this.
Buying a holiday home in Costa Rica as a Brit is not only legal, it’s actually refreshingly doable, and with so much amazing property at affordable prices, your holiday home dream could very soon become a reality!