Tuesday, March 10, 2009

Buying beach property - part II

Purchase of Land through Costa Rican Companies

In any of the above mentioned cases, both Costa Ricans and foreigners are always advised to buy land through a company. Among the advantages of forming companies for this specific reason, the reduction of personal liabilities and taxes are the most outstanding.

Ownership of recordable assets, such as real estate and cars, has become the main purpose of most of the registered companies in the country. Hence this method of "indirect" possession, is the most highly recommended means of managing recordable assets.

Once formed, a corporation may be fully controlled by a sole shareholder. This allows the concentration of corporate powers which allows a single individual, or a small group of people, to operate the company in a relatively simple and inexpensive manner. Your attorney will be able to help you find the best ways to ensure control of the company and the overall handling of corporate power.

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