SUGEF Costa Rica
SUGEF Costa Rica what is it?
SUGEF Costa Rica
SUGEF Costa Rica is an acronym for “Superintendencia General de Entidades Financieras” (literally translated as ‘Financial Institution Superintendency’). An organization within Costa Rica audits financial institutions such as banks, credit unions, real estate offices, and escrow agencies to make sure they comply with all local and international regulations. The United States of America has a similar internal organization called the ‘Office of the Comptroller of Currency” or OCC as it is more commonly known in the USA.
For more information about SUGEF Costa Rica visit the SUGEF website here. It is in Spanish.
Mission of SUGEF Costa Rica
The mission of SUGEF, according to its website, is to ‘dictate the general norms and guidelines that it deems necessary to promote the stability, solvency, and transparency of the operations of the audited entities.’
With that mission in mind, it is clear that Costa Rica regulators, with this new change, are focusing on two critical aspects of Costa Rica real estate:
- Providing real estate buyer protection to ensure the people handling the transaction have accountability.
- Inhibit money laundering via real estate transactions
Osa Property Management is in the final stages of SUGEF certification. We suggest that anyone looking to purchase property or hire a property management company only works with companies with SUGEF certification.
Let us do the worrying…
Contact us today if you need help in managing your property. Whether you live in the area year-round or if you are in Costa Rica only part of the year, we can provide services to ensure you maximize your enjoyment in Costa Ballena. Pura Vida!
Professional Management
Osa Property Management Experts have lived and managed homes in the region for over 16 years. Not only do we live here, but we are one of the few LEGAL property management companies in the area with legally working, full-time, and fully insured employees (this protects YOU from potential legal problems also). Our Team will ensure your property is well-maintained and actively rented (if you want to offer your home as a vacation rental). We are focused on Hatillo, Dominical, Playa Hermosa, Uvita, San Buenas, Chontales, and Ojochal property management.