Digital Assets & Real Estate Transactions in Costa Rica

As our world becomes increasingly digital, the way we exchange and store value is evolving. Technologies like cryptocurrencies and blockchain platforms are reshaping industries—including real estate. While many countries have moved toward regulating digital assets, Costa Rica currently does not have a specific legal framework in place.

So what does that mean if you’re interested in using cryptocurrency to purchase property in Costa Rica? Here’s what you need to know.

What Are Cryptocurrencies?

Cryptocurrencies are decentralized electronic accounting systems. They record transactions between individuals and reflect the available purchasing power, all without needing a third party—like a bank—for validation. These systems rely on blockchain technology for the secure and transparent registration and authentication of each transaction.

While crypto is often used as a store of value, it can also serve as a medium of exchange, functions traditionally reserved for state-issued currency.

Why Isn’t Cryptocurrency Considered Currency in Costa Rica?

According to Costa Rican law and the Central Bank of Costa Rica (BCCR), for an asset to be considered a currency, it must meet the following conditions:

• It must be issued by a central bank or competent public authority

• It must have legal tender status, meaning its acceptance is mandatory within the country

• It must have liberatory power, which allows it to settle debts

Cryptocurrencies do not meet these criteria, and therefore, are not recognized as legal currency in Costa Rica.

Are Cryptocurrencies Illegal?

No. In fact, Costa Rica permits the possession, purchase, sale, and exchange of cryptocurrencies under civil law. Digital assets are treated similarly to movable property, as long as the activity is lawful and part of a legitimate commercial transaction.

Put simply: using crypto is not illegal in Costa Rica—but it’s also not officially recognized as money.

Why Doesn’t the Government Accept Crypto as Currency?

The Costa Rican government’s position is based primarily on two concerns:

Lack of Tracking Infrastructure

The country currently does not have the systems in place to trace or regulate digital assets.

Legal Limitations in Case of Disputes

If a disagreement, breach of contract, or fraud occurs during a crypto transaction, it may be impossible to identify the counterparty or verify the transaction trail. This makes it difficult to bring legal claims before a competent court.

In other words, while parties are free to use crypto, they do so at their own legal and financial risk.

Key Takeaways

• Bitcoin and other cryptocurrencies can be used as a payment method if both parties agree, but they are not legal tender like the colón or U.S. dollar.

• There is no comprehensive crypto regulation in Costa Rica. The BCCR does not back or guarantee digital assets.

• The country’s legal framework supports the freedom of contract, meaning people can voluntarily agree to transact using crypto.

• Cryptocurrency use is permitted, but the Central Bank emphasizes that individuals act at their own risk.

Using Crypto for Real Estate in Costa Rica

At Quatro, we understand that digital assets are part of modern investment strategies, and that some clients prefer to use crypto when purchasing real estate. The good news is:
Digital assets are not illegal, and as long as the transaction is structured properly and complies with local legal standards, you can use cryptocurrency to buy property in Costa Rica.

We’re here to help you do it safely. From drafting contracts to ensuring proper documentation and legal compliance, our team can guide you every step of the way.

Disclaimer: The information provided in this blog post is for general informational purposes only and is not intended to constitute legal advice. While we strive to ensure the accuracy and timeliness of the content, laws and regulations are subject to change. For the most accurate and up-to-date information, please contact our office directly. Some images may be AI generated.