Remote Closings in Costa Rica: A Practical Checklist ✍️
From power of attorney to bank compliance and escrow: what to prepare for a smooth remote transaction.
Buying Paradise from Your Living Room 🌴
Can you buy land in Costa Rica without being there? Absolutely. In fact, about 60% of our clients close on their properties remotely.
But… you need to get your ducks in a row. Here is your checklist for a smooth remote closing.
1. The Power of Attorney (POA) 📜
This is the magic key. You cannot sign the deed physically, so you appoint someone to sign for you.
- Specific POA: We recommend a “Special Power of Attorney” (Poder Especial) limited strictly to the purchase of the specific property. It expires immediately after the transaction.
- Who to trust?: Usually, your lawyer or a trusted associate.
- The Process: You sign the POA in your home country in front of a Notary Public, then get it Apostilled (or legalized at a CR consulate). Then you DHL it to Costa Rica.
2. Know Your Customer (KYC) & Escrow 🏦
Costa Rica has strict anti-money laundering laws (Sugef). You will need to prove where your money comes from.
Prepare these documents early:
- ✅ Passport copy (notarized)
- ✅ Proof of funds (bank statements)
- ✅ Tax returns (last 2 years)
- ✅ Reference letter from your bank
“The Escrow agent is your best friend. They hold the money safely until the deed is transferred. Never send money directly to the seller.”
3. The Closing Day 🥂
On the big day, you can be sipping coffee in New York or wine in Paris.
- Final Walkthrough: We do a video call walkthrough of the property to ensure it’s in the agreed condition.
- Execution: Your proxy signs the deed in Costa Rica.
- Disbursement: The Escrow agent releases funds to the seller.
- Celebration: You own a piece of Costa Rica! 🇨🇷
4. Post-Closing Steps 📝
- Register the Deed: Your lawyer handles this with the National Registry.
- Utilities: We help transfer water and electric meters to your name (or your corporation).
- Taxes: Register with the local municipality for property taxes.
Remote doesn’t mean alone. We guide you through every single step.
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