If you’ve visited Costa Rica for long periods or if you’ve lived in Costa Rica for any length of time, you’ll notice that they take their year-end holidays pretty seriously. Most government offices take two weeks off during this period. Don’t let that stop you from investing during the holidays! In fact, as a mortgage investor, you can rest assured knowing that no changes can be made to property titles during this time.
Registro Nacional, the agency in charge of recording public documents, including mortgages, is closed for most services from December 23 until January 3. They reopen Monday, January 6, 2020. All online services are still available, including lookup and certifications.
Loans can be signed and disbursed, then submitted into the Registro Nacional first thing on January 6, 2020. The actual legal start date is when it is signed on the notary public’s protocol, not when submitted to Registro.
As for disbursements, the banks are open throughout the holidays, except for limited hours on days such as the 24th, and most bank branches are closed on the 25th, 31st, and 1st of January.
Merry Christmas and a Happy New Year from all of us at Grupo Gap!
–Jeffrey Alami, Loan Analyst, Grupo GAP LLC SRL