Your Guide to Commercial Land for Sale in Costa Rica
Costa Rica is a welcoming place for new businesses, and areas like Nosara are great places to start a new business venture or expand your current operations. The country is excited to host new businesses. Foreign ownership of real estate properties and businesses ownership is fully permitted, with the following exceptions: a) property given or sold to CR citizens as part of government aid programs and b) the concession land, or any type of concession granted for public services, it is advisable to purchase property or business through a CR corporation. The exact specifics will vary depending on the type of business. Make sure to contact your local real estate agent for details.
With so much opportunity, many are looking for commercial land for sale in Costa Rica. Let Wanderlust Sotheby's International Realty be your guide on this entrepreneurial journey!
Starting a Business in Nosara
Before looking for available commercial land in Costa Rica, the first thing any entrepreneur should do is consider the type of business they want to start. Different businesses have different needs, particularly when it comes to commercial space. Ecotourism, commerce, and sustainable agriculture are some of the more popular sectors in Nosara, and each one has its own unique land requirements.
You'll also need to determine the business structure of your venture. The two most common business entities in Costa Rica are Sociedades Anónimas (SA) and Sociedad de Responsabilidad Limitada (SRL). In both entities, the liability is limited to the corporation´s assets and to the totality of the contributions made by the shareholders or quota holders; therefore, the personal assets are protected against any potential creditor the company may have.
Sociedades Anónimas
Think of an SA as the Costa Rican equivalent of a U.S. corporation. It requires a minimum of two shareholders, three board members, and a controlling agent.
Sociedad de Responsabilidad Limitada
An SRL business entity is like a limited liability company (LLC). This type of entity is simple to set up as you only need two shareholders to get started. If you are looking to venture into a business opportunity by yourself then don't fret, your local attorney can act as the non-voting 2nd shareholder needed to complete the requirements
If you're unsure which entity is best for you or even just want a helping hand through the whole process, we recommend hiring a local lawyer specializing in Nosara businesses. At Wanderlust Sotheby’s International Realty, we have the local connections to help connect you with reliable legal experts in the Nosara area.
Keeping Your Business Legal with the Costa Rica Tax System
As part of setting up your corporation, if you'd like to operate a business, you must register within the local Costa Rican tax authority, known as the Ministerio de Hacienda. Once registered the tax payments work similarly to what you may be used to in other Western countries. All of the company’s income will be factored into your gross earnings and can be offset by the business’ expenses. All of your purchases for the business will be done through an electronic invoicing system, which most all merchants will be able to provide for any purchase. Each month you will need to have your accountant file these earnings with the Ministerio de Hacienda. At the end of the year, you will need to have your accountant total up your expenses, and they will then enter these into a system which will factor out your net income. Your yearly taxes will be based on this figure. The tax rate at which you are charged depends on the amount of net income you declare. The following income brackets are based on the Costa Rican Colón. For the current exchange rate, you can enter the amounts into this currency converter.
Up to CRC5,286,000 = 5%
CRC5,286,001 to CRC7,930,000 = 10%
CRC7,930,001 to CRC10,573,000 = 15%
CRC10,573,001 to CRC 10,573,000 = 20%
Over CRC112,170 = 30%
The final tax amount you can expect to pay will be based on an intricate formula which mainly involves factoring the gross income minus the expenses to find your net income. For more detailed advice we recommend working with a local accountant which can assess your individual needs and make the best recommendations.
Constructing a Commercial Space
If you need a commercial building to go with your business, you may want to build from the ground up – literally. You can expect the construction costs to be similar to that of a residential property in Costa Rica (read our blog on residential construction to learn more about the costs and some of our favorite local architects that create amazing designs). Most of the differences between the construction process will come from the design and permits based on how you plan to use the structure(s). For example, restaurants and spas will need a sanitary permit to operate.
Let's Get Your Business Going! Explore Commercial Listings in Nosara with WLSIR
We're thrilled you're considering Nosara for your business! The friendly local atmosphere and jaw-dropping scenery make this the perfect place to live and work, and Wanderlust Sotheby's International Realty has a prime selection of land for sale in Costa Rica available for your business. We look forward to helping you find the best commercial land in Nosara for your needs.
Contact us today for more information on commercial properties in Costa Rica.
Disclaimer
Please be aware that the legal processes, information, and numerical figures in this article are subject to change year by year. For professional advice and the most up-to-date information please contact us directly.