Costa Rica Real Estate Magazine

ARTICLE | REAL ESTATE

COSTA RICA OFFERS SEVERAL TOP CALIBER INTERNATIONAL MARINAS AND SOME OF THE BEST SPORTFISHING IN THE WORLD!

ate a marina in Costa Rica is regulated through a concession agreement and in accordance with Law No. 7744 dat- ing back to 1998. Marinas are in a Re- stricted 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 “con- cession” in this area for periods with the new Law approved in 2021 which allows for 40-year concessions and 20-year re- newal terms. This “Restriction Zone” is under the administration of the nearest

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. Marina development in Costa Rica is controlled by CIMAT (Inter-Institutional Commission for Tourism Marinas and Docking Facilities) which advises the municipalities on technical matters relat- ed to Marinas as well. The right to oper-

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 regular inspections and a foreign vessel op- erating charters is subject to being im- pounded. However the new Law allows foreign flagged non-fishing luxury char- ter vessels over 78 feet to receive an annual license from ICT to allow running high end weekly charters legally. Also, yachts that are visiting for 6 months and chartering are allowed to bring in parts and do repair work in Costa Rica (Ship Spares in Transit).

24 COSTA RICA REAL ESTATE MAGAZINE