Real Estate Loans With Crypto in Costa Rica: How It Works

Real estate loans with crypto are a growing request in Costa Rica. Some borrowers hold much of their wealth in cryptocurrency, others want to put crypto toward a property purchase, and some plan to repay a loan from digital assets. GAP Equity Loans is open to cryptocurrency for all of its loans, and how crypto fits into each transaction is discussed and agreed between the lender and the borrower.

This guide explains how crypto can fit into a Costa Rica property loan, what Costa Rican law says about cryptocurrency, and what to prepare. It is general information, not legal, tax, or financial advice.

How Crypto Can Fit Into a Property Loan

• Putting crypto toward a purchase alongside a property-backed loan
• Holding crypto while borrowing against Costa Rica real estate
• Using crypto as part of the plan to make payments or repay the principal
• Another structure the borrower proposes and the lender agrees to

Because the crypto details are agreed case by case, there are no standard crypto terms. What stays the same are GAP’s core loan standards.

The Property Still Secures the Loan

GAP’s standard loans are secured by qualifying Costa Rica real estate, and the lender holds first-lien position, so existing liens are paid off before or at closing. GAP determines the property value used for loan-to-value, with input and acceptance from the lender. Around 30% loan-to-value or less is preferred, and 50% is the maximum for the standard product.

• Loans start at US$50,000, with added paperwork and due diligence above US$1 million.
• Terms run from six months to three years, with interest-only payments.
• No credit score is required, and borrowers of any nationality can apply.
• There are no costs to pay before closing; loan fees are deducted from the proceeds at closing.

What Costa Rican Law Says About Crypto

Under the Organic Law of the Central Bank of Costa Rica, the colón is the country’s monetary unit, and the legal means of payment consists of the notes and coins issued and put into circulation by the Central Bank. Cryptocurrencies are not part of that legal means of payment. In a 2023 opinion on a proposed crypto-asset market law, Costa Rica’s Attorney General’s Office noted that crypto assets and their service providers were not regulated in the country at the time. Rules can change, so ask your attorney how current regulations apply to your transaction.

Document the Source of Your Crypto Funds

People and companies that lend in an organized, habitual way must register with SUGEF for anti-money-laundering purposes, and every loan is reviewed individually. If crypto is part of your loan, expect to show where it came from and how it will move, with wallet and exchange records, conversion records, and bank statements that trace the funds.

Plan for Price Swings

Crypto prices can change quickly. If your payments or your repayment at maturity depend on crypto, build in a margin and decide in advance when and how you would convert it. The loan balance stays the same even if the value of your crypto falls.

What to Prepare

• Title information, lien details, the survey plan, and tax records for the property
• Valid identification
• Records of your crypto holdings and transaction history
• Conversion records, if crypto has been or will be converted
• A short explanation of how crypto will be used in the transaction
• Your plan to repay the principal at maturity

How Fast Can a Loan Close?

Banks set their own requirements, which can make bank loans harder for newcomers, and bank loans can take many months, if not longer, to close. GAP closes loans within 10 business days once the required documents are complete, so having your property and crypto records ready helps keep real estate loans with crypto on schedule.

Frequently Asked Questions

Can I get a real estate loan with crypto in Costa Rica?

Yes. GAP is open to cryptocurrency for all of its loans, and how crypto is used is agreed between the lender and the borrower.

Is crypto legal tender in Costa Rica?

No. Costa Rica’s legal means of payment is the notes and coins issued by the Central Bank of Costa Rica.

Does crypto replace the property as security?

GAP’s standard loans are secured by Costa Rica real estate with first-lien position. How crypto fits into the loan is discussed between the lender and the borrower.

Do I need Costa Rican residency?

No. GAP reviews borrowers of any nationality, and residency is not required.

What crypto records should I prepare?

Wallet and exchange records, transaction history, conversion records, and bank statements that show how the funds moved.

This article is general information only and is not legal, tax, or financial advice. Every loan depends on property review, documentation, and lender approval.

WhatsApp us at +506 4001 6413 to get started.

Holding crypto and considering a property loan? Start a loan request, see how it works, or email info@gap.cr.

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