What exactly is SUGEF?

SUGEF, an abbreviation for the Superintendencia General de Entidades Financieras (Financial Institution Superintendency), is an organization tasked with auditing financial institutions in Costa Rica. Its role is to establish general norms and guidelines to ensure stability and transparency in the operations of the audited entities. By preventing money laundering and protecting buyers from fraud, SUGEF’s regulations have brought about significant transformations in the practices and reporting procedures of real estate companies in Costa Rica.

This, in turn, has enhanced transparency and accountability within the sector, offering protection against fraudulent activities for both financial institutions and their clients.

In short, working with a SUGEF-registered agency ensures a trusted real estate consultancy. When you choose to work with registered real estate agents and agencies authorized by SUGEF, you can have confidence that you are engaging with legitimate professionals who are experts in their field. Registering with SUGEF involves meeting rigorous requirements, and by selecting a SUGEF-registered real estate agency, you can be assured of a secure and legal process for all parties involved.

Moreover, each transaction conducted through a SUGEF-registered agency is supervised by SUGEF itself. This supervision necessitates transparency in providing complete information about property ownership and sources of funds, ensuring that transactions are carried out in a legal and ethical manner.

When buying property in Costa Rica, choosing a SUGEF-registered agency enables you to conduct future transactions with safety and peace of mind.

If you have any further questions, please don’t hesitate to  contact our Nativu advisors. 

We are more than happy to guide you through the process!