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Originally Posted by Axeman
Webby or Warchild etc - My main questions about CR.
1. Best way of pulling in money from the web into the country to avoid the taxes? Ie if you do a panama company are you having to deposit the money there and then pull in, or are you able to deposit at a bank in CR no problems etc?
2. As far as land/housing goes, do you need to purchase a place cash or is there financing available to foreigners or residents if I go that route?
Thanks in advance.
- Brent
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Hi Brent!
No problem on point one. You can just pull whatever you want into a Costa Rica bank and there is no taxes. There can be advantages to a eg Panama corp, but that's not necessary just to pull net earnings into the country.
On point two... It is vastly better to have external funding for real estate purchases (cheaper) tho noticed there are a couple of companies trying to offer financing at US levels - so that is still possible.
On point two... that is possibly where a corp can come into play. If you purchase a property it may already have a corp included in the package. This is fairly common here and basically means it's a non-trading corp that holds the asset (home) and all shares in your name and under your control. In effect, it's a method of asset protection, but also saves land transfer taxes should you wish to sell.