RE: What are the advantages of buying real estate in Costa Rica in the name of a corporation rather than in your own name?
Many lawyers in Costa Rica recommend buying real estate via a corporation set up just for that purpose. Â They claim better liability protection – does anyone have clear examples of when this setup protected someone from liability claims? Â There are some disadvantages of using a corporation as well – paying corporate taxes in CR, effects on US tax reporting, annual legal fees, etc. Do the benefits outweigh the disadvantages?
I have just purchased RE in CR as a corporation. It made it easier to have my children be beneficiaries if anything happens to me. Â I will also make a will, but having them as secretary teasuer and me the Pres. Seems to make it easier to have your family take it over when and if the time arises.