Legal Services
Funnes and Mathys is a passionate and loyal team of professionals dedicated to providing outstanding legal services to foreign investors for their asset acquisitions and subsequent transition to paradise-like Costa Rica.
Real estate
There are a thousand reasons why foreigners love buying property in Costa Rica – from the miles of glorious coastline to the laid-back local population and everything in between. There are mountains, jungles, rivers and lakes, and of course, it’s all between the breezy tropical waters of the Caribbean Sea to the east and the expansive Pacific Ocean to the west.
Buying property in paradise-like Costa Rica is a clear and transparent process. Working with the right professionals and conducting an orderly due diligence process is the key to a smooth and successful process. Unlike in other countries, foreigners have the same rights when purchasing land in Costa Rica as locals. Anyone can own property under their own personal name or in the name of a corporation that is formed for that purpose. This legal protection is one of the main reasons why foreign investors find real estate in Costa Rica so attractive.
We, at Funes & Matthys Abogados, a Boutique Law Firm specialized in Real Estate Matters, will help you from the first step in acquiring a property by making an offer, signing a Purchase Agreement, going through the respective Due Diligence Process and finally closing the deal and transferring the corresponding title of ownership.
Due diligence process
It is the process of examining the details of a real estate transaction to ensure that it is legal and to fully inform both the buyer and seller of as many facts in the transaction as possible. When the agreement satisfies both aspects of due diligence, the two parties can finalize and close the transaction.
With proper due diligence, all parties involved are educated, informed, and covered in a transaction, agreement, or any other type of arrangement. Think of it as homework: It must be completed before a deal closes to provide the buyer with assurance of what they are going to get.
The process validates the accuracy of the information presented, ensures that the transaction meets the criteria set out in the purchase agreement, verifies that the parties have taken into account all benefits and risks, and allows the buyer to know what they are purchasing.
Before buying, you should investigate the title to make sure there are no liens on the property. This includes:
Property title and previous records before the Public Registry of Costa Rica
Surveys and registrations before the National Cadastral Office
Land records (all current uses of the property)
Building permits (if applicable)
Structural and engineering reports (if applicable)
Correct zoning test
Review of the cadastral plan
Environmental aspects
Service contracts
Review of all utilities and their bills
Foreclosures, judgments or claims related to property.
Due diligence increases the chances of a successful transaction by uncovering major issues or assets that need to be addressed. Without proper due diligence, unforeseen issues may arise after the transaction closes. At that point, they fall to the buyer, who may not be able to address them through litigation.
Asset protection
Since our mission is to protect the legal interests of our clients, asset protection has always been the guiding light of the legal advice we provide to each client. We feel it is our obligation to thoroughly discuss the options available to protect the hard-earned assets of the people who place their trust in our Firm.
We always start by listening to our clients' objectives and based on that, we evaluate the legal instruments available to create a "bulletproof" strategy to first protect their assets and then increase them through a solid long-term strategy.
Costa Rica offers a wide range of legal solutions through simple yet secure structures. Once we create a client/attorney relationship, we will analyze your scenario and implement proven strategies to minimize risks and develop a clear procedure towards succession. Whether you are purchasing a property or creating a multi-million dollar project, we have the right strategy for your circumstance, whether by creating individual Limited Liability Companies to function as holding companies and/or enabling different types of trusts to fully protect all your assets. Additionally, as most of our clients are foreign citizens and do not live permanently in Costa Rica, we provide them with the service of worthy members who represent their corporations and their legal affairs in the country.
Immigration Services
Migration to Costa Rica has increased in recent decades. It is no secret that Costa Rica is one of Latin America's success stories, as it is the oldest and most stable democracy on the subcontinent. Costa Rica offers the political and economic stability of a developed nation with the opportunities that can only be found in a developing country.
Funes & Matthys Abogados provides all of its clients (along with their family members) who have invested more than $150,000.00 in a real estate transaction, the corresponding assistance in the process of obtaining residency in Costa Rica under the category of "INVESTOR". Once the client expresses interest in becoming a Costa Rican resident, a list of the necessary legal requirements that must be provided to the Immigration Department of Costa Rica is duly sent.
Regulatory Compliance
Called property or casualty insurance, this policy protects personal or business assets in the event of any eventuality.
Over the years, individuals and organizations acquire assets to develop their personal, professional and operational activities. These assets represent a significant investment, as well as the effort of many years, since they can prevent partial or total loss that can cause significant financial imbalances; putting at risk the ability to generate income in the future.
For this reason, deferring risk through an appropriate insurance policy allows foreign investors in Costa Rica to have the peace of mind that, in the event of an unexpected loss, we can replace important assets.
At Funes & Matthys Abogados we advise our clients to obtain an adequate and complete risk analysis in order to have precise and professional guidance on the amount of coverage required in accordance with the real financial and economic probabilities.
There are thousands of foreigners who have invested in Costa Rica in one way or another. They have bought a property, invested in a business or opened bank accounts, or a combination of these. Despite this, many of them have not thought about what will happen to those investments and assets if they die. Some will rely on the provisions they made in their home country without understanding how they will be implemented in Costa Rica, however, they will have to undergo a judicial recognition process that can be long and expensive. In this regard, at Funes & Matthys Abogados we will help you draft your last provisions regarding the assets you have in Costa Rica by establishing a Costa Rican will. This will ensure that your assets will be distributed to your legal heirs with a simple private legal process.
