The formerly Spanish and English colonised countries of Central America are markedly different from the poverty, political unrest and economical positions which once characterised the Latin American communities

Costa Rica
An increasing number of American, European and Canadian investors are being drawn to the real estate market in Costa Rica; they find it offers them a genuine alternative to the volatility and insecurity of equity markets and also an escape from their restrictively expensive domestic property markets.

In Costa Rica the visitor can enjoy lovely tropical beaches, the grandest adventures, the wonders of nature, scintillating culture, all the necessary components of an ideal vacation.

More and more people who are looking for a second home or a new home abroad and are discovering the democratic and peaceful Costa Rican country and are awakening to the delights of the Costa Rican property market. Land and house prices are highly affordable, the current boom in the market is of course naturally inflating prices, but levels have yet to reach any where near those in the US, UK or Canada. 

With massive political investment into the tourist industry, 'Special Tourist Zone' incentives for overseas investors, discounts for retirees and leisure activities aplenty the countries are now an attractive option for overseas property buyers looking for their next big investment.

Such is the appeal of the country that more and more people are exploring it annually and as a result the demand for holiday property for sale in Costa Rica is increasing. Here are the top reasons for you to consider buying a holiday home or investment property in Costa Rica today:

• Property in Costa Rica can provide stunning growth: Property prices are up 300% on average in just 10 years - and many investors who bought in the right location have doubled or tripled their property values in just 2 or 3 years. This growth is set to continue, as more people than ever look at Costa Rican real estate. While much of the island is protected from development, where construction is allowed companies are designing and building sumptuous homes which make the most of the incredible rainforest and ocean views available throughout Costa Rica .
• Buying In Costa Rica is safe and easy: You get the same rights as residents when you buy property in Costa Rica - and red tape is kept to a minimum.
• Costa Rica is safe: Costa Rica is a politically stable nation, it has a mature government, it has no need for an active army and as such it is considered a safe country in which to invest money into real estate. Serious crime is rare - unlike many other countries.
• Costa Rica is beautiful: And it's one of the top 10 destinations for adventure tourism in the world. Costa Rica has it all - rolling hills, mountains, stunning beaches, volcanoes, rivers, rainforest - and much more. The natural landscape in Costa Rica is incredible. You have cliffs framed with rain forests, wild ocean waves on the Pacific coast and gentle lapping waters on the Caribbean coast, you have dense lush plant life and lone palm trees, blue skies, white clouds and untouched sandy beaches – if paradise were to be found on earth, chances are it would be found in Costa Rica.  
• Costa Rica has a great climate: The climate in many areas is fantastic - meaning you won't need heating in winter, or air conditioning in summer. The lack of weather extremes is a huge bonus when living in Costa Rica .
• Costa Rica is tax efficient: There are many tax advantages for people living, working, and investing in Costa Rica - and the Costa Rican government provides many generous tax breaks.
• Costa Rica has all the comforts of home: Good communications, telephones, Internet - as well as all the shops and entertainment you could want. Costa Rica provides an infrastructure that makes people comfortable.
• Costa Rica has a high standard of living: There is a growing middle class in Costa Rica that is becoming more affluent, furthermore there are more North American and Western European expatriates moving to the nation than ever before and all of these people are demanding, expecting and willing to pay for a good standard of living. As a result the standard of living has improved greatly and this makes holidaying in the nation a pleasure rather than a struggle!
• Costa Rica is relaxed and friendly: The Costa Rican people are relaxed and friendly, and they provide a warm welcome. The pace of life is slower and more relaxed - people have time for each other - and there's no rush. Costa Rican people are rightly proud of their perfect country and they are used to welcoming international visitors annually. Those who invest in real estate and give something back to the country are prized highly and made to feel very welcome indeed.

Did you know you can fly direct to Costa Rica from the UK?  Did you know you can fly direct to Costa Rica from 22 airports across America?  Did you know that there is active international investment into health care facilities in Costa Rica purely to service an expected inward flow of international retirees?  Did you know that the Pacific Coast is hurricane protected and that property is highly affordable?  And did you know that Costa Rica has an active retirement program that seeks to attract affluent ‘retirees' over the age of 45 and that they are offered impressive tax breaks and incentives to move to live in Costa Rica?

Costa Rica is rapidly coming under the spotlight of those seeking a tax efficient country to live in, an affordable country to retire to, an attractive nation to reside in and a secure and accessible nation to commit to.

The seller obtains a literal certification from the National Registry.
A literal certification (printed sheet with the information of the property recorded at the Registry database) is issued by the National Registry in one day. The information of property can be obtained online. A notary public can access with a designated password and get this information by simply login into the National Registry’s website (www.registropublico.go.cr), putting the property’s information and getting a print screen with the above indicated information (nature of property, location, area, cadastre number, owner, liens, mortages, easements, limitations, boundaries, etc).

The seller obtains a cadastral plan from the cadastre.
If a cadastral plan of the property does not exist or has problems, then a Topographer engineer must prepare a new one. This will take another 22 days and will cost about CRC 120,000. The cadastral plan will have to be prepared in many cases due to errors, but it is not legally required and most people do not do it.

The seller shall provide the buyer a certificate attesting that the property is current with payment of all the Municipal taxes and charges (including property tax, and charges for municipal services).

Notary fees are established by Executive Decree 32493 of March 9th 2005. A lawyer/notary prepares the sale agreement in the form of a public deed based on the information obtained in step 1 and provided by the parties. The lawyer/notary must verify this information in accordance with the Notary Code.
In Costa Rica notary publics are lawyers.
Parties must provide photocopies of their ID (cédula for Costa Rican citizens or passport for foreigners)
Corporations must provide a certificate of incorporation.

Transfer tax and stamp duties must be paid at the Banco de Costa Rica, a state-owned bank that will transfer the money to the tax authorities—either online or in person. In order to pay online, one must have a bank account and internet access to the Bank’s secure web page. The notary certifies on the affidavit that the payment was made and the registrant must check that on the bank’s database. It has become a common practice for up-to-date law firms and notaries to pay the transfer tax and stamp duties online.
The transfer tax and stamp duties are calculated on the basis of the highest of the stated purchase price and the property value appearing on the National Property Registry. Price is updated when the property is sold or mortgaged.
For a land transfer there are various types of stamps that must be paid. Payment is calculated as follows:
• National Property Register Stamp: 0.5% of the property value
• Municipal Stamp: 0.2% of property value
• Fiscal Stamp Tax: CRC 625
• Agrarian Stamp: 0.1% of property value
• Costa Rican Bar Association: 3000 CRC for deeds over 10 million CRC
• National Archive: CRC 20

The lawyer/notary files before the National Property Registry an affidavit of the public deed (known as a “testimonio”), with proof of payment of the transfer tax and other applicable stamp taxes.
Once filed, the affidavit of the transfer deed is assigned for review by a Registrar of the National Property. If the document complies with all requirements, it is recorded and the buyer shall be the formal owner of the property thereafter. If the document contains problems it is returned to notary for correction and re-filing.

Nicaragua

Nicaragua is an exotic land where the sun shines all day long... on rugged and tropical rivers, colonial cities, friendly and lively people, and the largest body of fresh water south of the Great Lakes .

Nicaragua is virtually unknown, and usually misunderstood by most people, which is why forward-thinking investors can find some of the best property deals on Earth in this country.

For the record, this country is not in the midst of a civil war...and it's not a Communist state. It has, however, suffered from a serious case of bad press. Because most of the world still believes Nicaragua is a country full of problems and political unrest, local real estate is extremely undervalued.

Yes, Nicaragua is still a little rough around the edges. And of course there are certainly no guarantees as to what will happen in the future... here or anywhere. But it doesn't take much imagination to see where Nicaragua is headed.

The opportunity to get in on the ground floor of a place like Nicaragua does not come along very often!  

• Extraordinary Natural Beauty and Diversity
• Access to First World Comforts… at a Fraction the Price You're Used to Paying
• Nicaragua is Politically Stable… and Safe
• The People are Warm and Welcoming
• Your Timing is Perfect… to Reap the Rewards in the "Next Costa Rica " 
• The Number of Potential "Buyers" in Nicaragua is About to Explode

Belize
The English-speaking country of Belize – in the Yucatan Peninsula of Central America is characteristic of many  Central American countries emerging in the global property investment market. With a stable political situation and parliamentary democracy, foreign land ownership, favourable taxation laws and an esteemed banking industry, the country joins the aforementioned on the list of investment hotspots.

Belize (formerly British Honduras) has evolved into a world-renowned ecotourism and adventure destination with some of the best marine reserves in the world, the largest cave system in the Americas and three of the four coral atolls in the Caribbean.

Direct flights from Europe will soon replace one-stop flights currently available from Britain and are sure to increase the yearly influx of tourists from across the Atlantic its close proximity to North America already making it a top tourist and retirement destination. Belize is currently experiencing an exceptional tourism and development boom and an excellent investment opportunity exists today. Land and property prices have experienced significant appreciation and prices are still 50 per cent below prices of similar properties in the Bahamas."

Belize also offers extensive financial incentives for overseas property investors, such as zero income tax, zero capital gains tax and off-shore banking. As the government has set aside 46 per cent of the land under environmental preservation policies, with over 50 per cent of the original forest remaining, property prices in Belize are likely to rise dramatically due to lack of property development land, so overseas investors are urged to investigate the market sooner rather than later.

Panama
Often referred to as the 'banking capital of Latin America', Panama City is increasingly appearing alongside emerging Eastern European destinations in property developers' investment hotspot predictions.

The rise in Panama's prominence on the property investment map has been brought on, in part, by the growth of the country's economy, which grew by 7.4 per cent in 2004 and 6 per cent. in 2005. A recent vote in favour of widening the Panama Canal at a cost of some $8 billion is also expected to generate more jobs and provide a massive boost for the economy. In addition, tourism is making a huge contribution to the country's economy. Employment rates are rising, more and more overseas people are moving to the area, it's one of the safest places in the world to live, has excellent retiree benefits, is a tax haven and has strong rentals.

Indeed, the country's low costs of living, coupled with retiree incentives – including one of the world's best discount programmes offering up to 50 per cent off everything from doctors rates to airfares, Panama has become the most popular choice for Americans looking to buy homes outside of their own country.

For the European buyer, the country has become a popular alternative to Florida. Its similar tropical climate – minus the hurricanes – beaches, golf-courses and leisure opportunities such as diving and rainforest trekking make the country an attractive destination for tourists and investors.

Parties obtain a certificate of non-mortgage and non-litigation before starting the transaction. This certificate is obtained at the Public Registry Office.

The seller must obtain a certificate of good standing with the cadastral value from the Treasury, which relates to the property tax to be paid by owners. This certificate can be requested by any third party interested, and must have the lot number and the page number (document number), issued by the Public Registry Office. Note that land with a value under $30,000 is property tax exempt. Property Tax may increase as high as 2.10% annually based on the cadastral value.

A lawyer usually prepares the sale agreement (it can also be prepared by a real estate broker). In any case, the sale agreement -called the Minuta- needs to be stamped by a Panamanian lawyer prior to being executed in a public deed. The sale agreement should mention that there are no mortgages or limitations on the property.
The documentation shall include:
Non-encumbrance certificate (obtained in Step 1)

Prior to filing and recording the public deed at the Public Registry Office, the Transfer Tax should be paid (if it’s not exempt by any particular reason established by law) at the Ministry of Economics and Finance, by the seller. Transfer tax: 2% of the price of the transaction or the cadastral value, whichever is higher. There is no VAT in Panama for transfers of property
As of 7/2006, at this time the seller must also pay 10% capital gains tax, regardless of how long he has owned the property.

The notary notarizes the sale agreement and prepares the public deed. All transfers of property must be notarized or made into a public deed before filing for recording at the Public Registry Office. The documentation shall include:
Sale agreement (prepared in Step 3)
Receipt of payment of the transfer tax (obtained in Step 4)
Certificate of good standing with the cadastre (obtained in Step 2)
Good standing certificate with water utility services (Clearance certificate issued by Instituto de Acueductos y Alcantarillados Nacionales (I.D.A.A.N.))

The public deed is filed and recorded at the Public Registry Office under the name of the buyer. The registration fee is paid at the National Bank in favor of the Public Registry Office. The bank has a branch inside the registry office. Since 1999, there has been an optional expedited procedure in which one can obtain registration within 24 hours, at an additional cost of $250 though not many people choose it because it is rather expensive.

The documentation shall include: the notarized public deed (obtained in Step 5).

A copy of the recorded deed should be filed at the Cadastral Office to record the new buyer for tax purposes as the new person responsible for the payment of the property tax. This should be an internal procedure after Step 6, but in fact, the buyer needs to do it in person so far. The buyer picks up the certificate of good standing with the new name and value at the end of the 2 weeks.