Costa Rica Real Estate Magazine

ARTICLE | REAL ESTATE

By Hernan A. Carazo tourrificticotours@gmail.com

Costa Rica offers several Top Caliber International Marinas and some of the Best Sportfishing in the World! Costa Rica has several International Caliber Marinas and some National ones as well. Some of the best tournaments and Sports Fishing initiate from these marinas. Super Yacht Times named Costa Rica as the top spot for yachts to visit in 2021.

22 COSTA RICA REAL ESTATE MAGAZINE 38 COSTA RICA REAL ESTATE MAGAZINE M arina development in Costa Rica is controlled by CIMAT (Inter Institutional Commission for Tourism Marinas and Docking Facili ties) which advises the municipalities on technical matters related to Marinas as well. The right to operate a marina in Costa Rica is regulated through a con cession agreement and in accordance with Law No. 7744 dating back to 1998. Marinas are in a Restricted Zone, which is an area that runs 150 meters inland from the water’s edge at mean low tide. The law allows the government to grant leases called “concession” in this area for periods with the new Law approved

in 2021 which allows for 40-year conces sions and 20-year renewal terms. This “Restriction Zone” is under the admin istration of the nearest Municipality with the supervision of the ICT (Costa Rican Tourism Board). Any improvements constructed in this zone will revert to the local municipality at the termination of the lease, unless said lease is extended. Upon your initial entry into the country, you will receive a Temporary Importation Permit for your boat, (Certificado de Im portación Temporal) from the Ministry of Finance and Customs (Ministerio de Ha cienda y Aduana). The new Law allows yachts to visit for 6 months instead of the

previous 90 days. Local law prohibits non-Costa Rican flagged boats from operating as com mercial charters and the government is very strict in this regard with regu lar inspections and a foreign vessel operating charters is subject to being impounded. However the new Law al lows foreign flagged non-fishing luxury charter vessels over 78 feet to receive an annual license from ICT to allow running high end weekly charters le gally. Also, yachts that are visiting for 6 months and chartering to bring in parts and do repair work in Costa Rica (Ship Spares in Transit).