Can I sell or Buy a Concession Property in Costa Rica? What actually happens when someone buys or sells a concession property in Costa Rica is that there is a transfer of the legal figure (corporation) that has the rights and obligations for the concession. So, you would buy or sell the stock in the corporation that holds those rights.
In terms of ownership, concession property technically remains under the jurisdiction of the Costa Rican government. However, in cases where a concession is assigned to a corporation, the shares of said corporation can be transferred to a third party, provided that the requirement of maintaining at least 51% ownership by a Costa Rican is adhered to.
The process of transferring a concession to a third party involves obtaining proper approval from the local government through a defined protocol. This ensures that any changes in ownership comply with regulatory standards and administrative procedures.
Therefore, technically speaking, it is not possible to sell a concession property in Costa Rica because the property remains under government ownership. Consequently, it cannot be purchased either. However, it is possible to obtain the concession rights and utilize the property within the limits established by the municipality.
