Costa Rica which means rich coast is a country in Central America between Nicaragua to the northwest and Panama to the southeast, the Caribbean Sea to the east and the Pacific Ocean to the west. Its capital is San Jose and its currency is the Costa Rican Colon (CRC) but the US$ is used freely. The official language is Spanish. It is a presidential constitutional republic. The government offers tax exemptions for those willing to invest in Costa Rica, and this has prompted global high tech companies and pharmaceutical companies (amongst others) to start developing in the country. Tourism is the country’s main income, particularly ecotourism as the country has recently been given the title of the ‘greenest’ country in the world after many incentives were introduced in order to cut pollution and promote indigenous wildlife. Costa Rica is a very stable offshore jurisdiction with an excellent reputation and is a member of the World Trade Organization (WTO).
- TYPE OF COMPANY: Stock Corporation
- COMPANY LAW: Commercial Code No 3284 1964 (as amended)
- SUFFIX TO DENOTE LIMITED LIABILITY: S.A (Sociedad Anonima)
- DIRECTORS: Minimum three can be of any residency/nationality and either a natural person or corporate bodies – we can provide (there is a Government register of directors)
- SECRETARY: Yes – we can provide
- SHAREHOLDERS: Minimum of two. Corporate or Natural Persons are allowed – we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Minimum issued capital is one share at par value. Standard capital is normally CRC 10,000, although can be stated in any currency
- OWNERSHIP: 100% Foreign ownership allowed
- TIME TO INCORPORATE: 21 – 28 days
- REGISTERED OFFICE: Required in Costa Rica – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes (but no requirement to file)
- DISCLOSURE: No
- TAXATION: No corporation tax on non-Costa Rican sourced income
- GOVERNMENT LICENCE FEE: Annual Return US$51
- DOUBLE TAXATION TREATIES: Limited
- LANGUAGE OF DOCUMENTATION: Spanish with certified English translation
If you would like further information on setting up a company in Costa Rica or the formation of a Costa Rican company or other Costa Rican corporate entities or require professional advice relating to taxation or the structuring and requirements of a Costa Rican company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Costa Rica.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.