Can You Finance a Maritime Zone Property in Costa Rica?

July 10, 2026
Property-Backed Loans

Beachfront and coastal property can be attractive in Costa Rica, but not every property near the ocean is owned or financed in the same way. Before discussing a loan, the first question is whether the property is fully titled or located in the Maritime Terrestrial Zone, commonly called the maritime zone or ZMT.

A maritime-zone concession is not the same as fee-simple ownership of a titled property. That difference can affect the legal review, transfer rights, value, resale market, available security structure, and whether a private lender is willing to consider the request at all.

GAP coordinates qualified property-backed financing requests with private lenders and may participate directly in selected cases. GAP does not require or pull a credit score. However, a maritime-zone request needs a particularly careful review of the concession, legal structure, permitted use, property improvements, repayment plan, and expected exit.

What Is the Costa Rica Maritime Terrestrial Zone?

Under Costa Rica’s Maritime Terrestrial Zone law, the coastal strip generally extends two hundred metres inland from the ordinary high-tide line. It is divided into two separate areas:

The first fifty metres are the public zone.
The next one hundred fifty metres are the restricted zone.

The public zone is for public use and is not private property. The restricted zone may be used under a municipal concession when the applicable legal and planning requirements are met.

This means that a concession holder normally has a right to use the property under defined terms. The holder does not own the land in the same way as someone who owns a fully titled finca registered in the National Registry.

A Concession Is Not the Same as a Titled Property

With a titled Costa Rica property, the lender can review the Folio Real, owner, existing liens, Plano Catastro, physical access, value, and whether a first-position mortgage can be registered.

With a maritime-zone concession, the lender also needs to understand the concession itself. The concession may have conditions, expiration dates, municipal obligations, transfer restrictions, approved uses, and requirements connected to the applicable coastal regulatory plan.

A lender cannot simply assume that a concession can be treated like ordinary titled collateral. The legal structure must make practical sense for the specific lender and property.

Some lenders may decide not to consider concession property at all. Others may consider a request only when the concession is current, transferable, properly documented, legally compliant, and supported by a strong overall file.

Costa Rica coastal property and concession documents reviewed before private financing

What Private Lenders May Need to Review

The exact review depends on the lender, property, requested amount, and proposed structure. A starting review may include:

Concession holder’s name and legal identification
Concession agreement and current registration information
Concession expiration date and renewal status
Proof that required municipal canon payments are current
Municipal and regulatory-plan information
Approved use of the property and any construction restrictions
Whether transfer, assignment, or security rights require approval
Existing mortgages, liens, annotations, claims, or disputes
Property location, access, boundaries, photos, improvements, and surrounding area
Corporate records and signing authority when a company holds the concession
Requested amount, use of funds, payment plan, and repayment plan

The review should begin with current documents. An old concession agreement, a listing description, or a seller’s explanation is not enough to confirm the present legal position.

Foreign Ownership and Corporate Structure Matter

Foreign ownership restrictions can apply to maritime-zone concessions. The appropriate ownership structure depends on the concession, the people involved, residency status, and the current legal requirements.

A corporation may be involved, but using a corporation does not automatically solve every issue. The lender and closing attorney or notary need to understand who owns and controls the corporation, who has authority to sign, whether the structure complies with the concession rules, and whether the proposed transaction can be completed properly.

For a corporation-held concession, the review may include current legal representation, corporate records, shareholder information when required, signing authority, and any company approvals needed to enter the transaction.

Anyone considering a purchase, transfer, financing request, or change in ownership of a concession property should obtain independent legal advice from an attorney experienced with the maritime zone before committing funds.

Property Value Must Be Conservative

A beautiful ocean view does not automatically make a maritime-zone request strong collateral. The lender needs to consider what is actually being transferred or secured, how long the concession has remaining, whether it can be renewed, what use is permitted, and how many qualified buyers would realistically consider the property.

Value may be affected by:

Concession term remaining and renewal history
Current compliance with municipal obligations
Approved use and building restrictions
Condition and legal status of existing improvements
Road access, water, electricity, drainage, and infrastructure
Beach access, erosion exposure, environmental considerations, and zoning
Comparable concession-property sales and current buyer demand
Time likely required to sell or transfer the interest

A lender will normally be cautious about a value based only on an optimistic future sale price. The stronger approach is to use conservative, supportable value and leave room for selling costs, legal costs, maintenance, municipal obligations, market changes, and time.

Costa Rica beachfront concession property reviewed for realistic value and marketability

Loan-to-Value Is Only One Part of the Review

Loan-to-value, often called LTV, compares the requested amount with the property’s realistic supportable value. For a titled property, a lender may be considering registered real estate security. For a concession property, the lender must first be satisfied with the legal rights, transferability, and security structure before an LTV discussion has much value.

For example, a two hundred thousand dollar request against an interest realistically supported at five hundred thousand dollars equals forty percent LTV.

$200,000 ÷ $500,000 = 40% LTV

Some stronger titled-property requests may support up to around fifty percent LTV. Requests closer to thirty to forty percent are often easier to structure when the property, title, legal structure, repayment plan, and expected exit are strong.

Maritime-zone property should not be assumed to support the same LTV as a clear, fully titled, marketable home. The lender may require a lower amount, a different legal structure, additional support, or may decide the request is not suitable.

For more detail on ordinary titled-property loan-to-value, read What Loan-to-Value Means for Costa Rica Property Loans.

First-Lien Security May Not Work the Same Way

GAP uses first-lien security only. With a typical titled property, this commonly means a registered first-position mortgage on the Costa Rica property. Some lenders may require a trust structure instead.

A maritime-zone concession requires separate legal analysis. The lender must understand whether the proposed security is legally available, how it would be documented, whether approvals are needed, and what happens if the borrower does not perform under the signed loan documents.

The closing attorney or notary handles the appropriate legal review, documents, registration steps, and closing structure. Legal fees and closing costs should be understood before documents are signed.

No borrower should assume that a lender can simply register a standard mortgage against a concession property in the same way as against a fully titled finca.

Repayment Plan and Exit Matter Even More

Private property-backed loans commonly have terms from 6 months to 3 years. Many use interest-only payments during the agreed term, with the principal balance due at maturity.

A lender needs to understand how interest payments will be made and how the principal will be repaid. A possible repayment plan may involve a sale or transfer of the concession interest, refinance, business income, sale of another asset, committed capital, or another documented source.

A future sale can be part of the plan, but it should not be assumed. A concession sale may require more time and more legal coordination than the sale of a straightforward titled property.

The property provides security for the lender. It is not the repayment plan.

For more detail, read Why a Repayment Plan Matters for a Costa Rica Private Loan.

What Can Make a Maritime-Zone Request More Difficult?

Concession is expired, unclear, or close to expiry
Required municipal payments are overdue
Concession holder does not match the available records
Proposed transfer or security structure is unclear
Corporate records or signing authority are incomplete
Property use or existing construction does not match approvals
There is no applicable regulatory plan or the project does not comply with it
Existing claims, disputes, annotations, or unpaid obligations affect the interest
Value is based only on an optimistic asking price
Requested amount is too high for the supportable value
No clear payment plan, repayment plan, or backup exit

These issues do not automatically mean a transaction is impossible. They may mean that additional legal work is needed, the requested amount should be lower, the structure needs to change, or a private lender may decide not to proceed.

Property advisor and buyers reviewing Costa Rica coastal property documents before a financing request

How to Start a Practical Review

Start by sharing the property location, concession documents, current status, estimated supportable value, requested amount, exact use of funds, ownership or corporate information, existing obligations, and repayment plan.

GAP can then determine whether further information may be needed for a practical review. GAP reviews qualified property-backed financing requests starting at $50,000. After GAP has a complete file and due diligence is finished, qualified loans can often close in about 10 business days. Timing depends on the property, concession status, legal structure, documentation, lender review, and closing requirements.

To begin, contact GAP at WhatsApp +506 4001 6413, USA/Canada 855-562-6427, or info@gap.cr.

Maritime Zone Property Financing in Costa Rica FAQ

Can a maritime-zone concession property be financed in Costa Rica?

Possibly, but it is not the same as financing a fully titled property. A lender needs to review the concession, legal structure, transfer rights, value, compliance, repayment plan, and expected exit before deciding whether the request is suitable.

Is a maritime-zone concession the same as owning titled beachfront property?

No. A concession is a right to use property under defined terms. It is different from fee-simple ownership of a titled property registered in the National Registry.

Can a lender use a normal first mortgage on a concession property?

That depends on the concession and the available legal structure. A concession should not be assumed to work like ordinary titled-property collateral. The closing attorney or notary must review the appropriate security structure.

What documents help with a maritime-zone financing review?

Helpful starting information includes the concession agreement, current status, municipal-payment information, property location, photos, approved use, ownership or corporate records, requested amount, use of funds, existing obligations, and repayment plan.

Do private lenders use the same LTV for concession property and titled property?

Not necessarily. A lender may treat concession property more conservatively because the legal rights, transferability, term remaining, compliance, and resale market can differ from a fully titled property.

Does GAP require or pull a credit score?

No. GAP does not require or pull a credit score. Each request is reviewed individually based on the property or concession, legal structure, requested amount, repayment plan, and expected exit.

Article by Glenn Tellier (Founder of CRIE and Grupo Gap)