Transferring money to Costa Rica for a property: no approval, one sworn declaration, one exit withholding.
// Short answer
No foreign-exchange approval is needed to buy or sell property in Costa Rica: the central bank law requires the colón to stay freely convertible, and contracts in US dollars are valid. The control sits with the notary instead, who records how the price was paid and, at USD 10,000 or more, takes a sworn declaration of the origin of the funds.
Rules and rates as of September 2026. Coastal concessions are run by each municipality and several tax points were unsettled when this was written, so check the dated items with a Costa Rican lawyer before you sign. Every figure links to its source.
On this page
- Do I need approval to send money to Costa Rica to buy property?
- Can a Costa Rican property contract be in US dollars?
- What does the notary need to know about my money?
- Where should the purchase money be paid in Costa Rica?
- Is there a limit on carrying cash into Costa Rica?
- Can I take the money out of Costa Rica when I sell?
Do I need approval to send money to Costa Rica to buy property?
No. Article 85 of the central bank law requires any exchange regime to keep the colón freely convertible into other currencies. No foreign-exchange approval for buying or selling property was found in the sources for this page, as of September 2026. The checks that apply are anti-money-laundering records.
No non-resident mortgage terms were verified for this page, so plan on transferring cash. The whole purchase: buying property in Costa Rica as a foreigner.
Can a Costa Rican property contract be in US dollars?
Yes. Under Article 48 of the central bank law, contracts and obligations in foreign currency are valid and enforceable. The debtor may choose to pay in colones at the central bank's reference rate.
The currency matters again if you let the property: under the urban leases law, rent on a lease in foreign currency stays fixed for the whole term. Detail: Costa Rica rental yields and rental rules.
Sources
What does the notary need to know about my money?
Where it came from and how it was paid. For every act involving money, the notary must identify the origin of the funds and the payment method, such as transfer or cheque, and record it in the deed. For transactions of USD 10,000 or more, the buyer makes a sworn declaration of lawful origin in a public deed.
Have the bank records for the transfer ready before the signing. The rule comes from the notarial authority's 2026 guidelines on Article 15 ter of Law 7786.
Where should the purchase money be paid in Costa Rica?
As market practice, to a SUGEF-registered escrow agent who releases it once agreed conditions are verified, according to AEGIS Legal Partners (July 2026). The same source advises never wiring directly to a seller, an agent or a personal account. No statute making escrow compulsory for private sales was found.
Treat escrow as standard practice, not a legal requirement, and agree the release conditions in writing before any money moves.
Is there a limit on carrying cash into Costa Rica?
Not a limit, a declaration. Anyone entering or leaving Costa Rica with cash of USD 10,000 or more must declare it, under Article 35 of Law 7786. Financial institutions must also record cash transactions of USD 10,000 or more, in any currency, on a supervisor's form.
A bank transfer leaves the paper trail the notary asks for anyway.
Can I take the money out of Costa Rica when I sell?
Yes. No currency control on the proceeds was found, and the colón is freely convertible by law. The friction on the way out is tax: when the seller is not domiciled in Costa Rica, the buyer withholds 2.5% of the price and pays it to Hacienda before the transfer can be registered.
The rest of the exit: selling property in Costa Rica as a foreigner.
Sources
// Buying in Costa Rica?
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See the $499 report, page by pageFrequently Asked Questions
Can I pay for Costa Rican property in US dollars?
What is the source-of-funds declaration in Costa Rica?
Is escrow mandatory in Costa Rica?
Do I have to declare cash when I enter Costa Rica?
Can a non-resident get a mortgage in Costa Rica?
Header photo: Tico73, CC BY-SA 4.0, via Wikimedia Commons. All credits: image credits.