The new government extended the legal provisions, Law No. 50, that allow you to build a house or condo free of property taxes for 20 years. The 20-year exemption for new constructions is a wonderful added value to your investment. The exemption is transferable. The investment Stability Law, passed in 1998, protects foreign investors from any change in tax, customs, municipal and labor rules for a period of 10 years after an investment is registered. Residents pay no taxes on foreign-earned income & Tourism investments have a 20-year exemption from import duties, fees for construction materials and equipment, and income, real estate and other taxes.