Incorporate in Costa Rica
Background & General Outline
Costa Rica is located in the center of the American Continent and lies just above Panama. It has a total population of approximately 4,999,000. The capital and financial center is San Jose.
Costa Rica is one of the most discreet offshore centres in the world and enjoys economic and political stability making it a popular location.
The legal system is based on the Spanish Civil Law.
The Costa Rican Colon (CRC), but The US Dollar is used freely.
The official and spoken language is Spanish. In business English is spoken although not widely.
Disclosure of the Beneficial Owner
Disclosure of the Beneficial Owner is required.
The system of taxation in Costa Rica is territorial, meaning that when you Incorporate in Costa Rica, any company activities that are carried on outside of Costa Rica, are NOT subject to any income taxes therein.
Double Tax Treaties
Costa Rica has traditionally not been a party to any double taxation treaties. However it has signed an exchange of information treaty with the United States with a view to promoting the necessary interchange of tax information and to ensure that the correct level of taxation is levied in both countries as well as to eradicate tax evasion.
In April, 2006, however, as the country mulled a controversial switch from a territorial tax system to one where it would collect tax on worldwide income, it emerged that the authorities had begun negotiations with several countries to avoid the double taxation of income.
By 2009 Double Taxation Agreements has been signed with Spain, Germany and Romania, but these are awaiting ratification.
In 2011 a Tax agreement was signed with Canada.
Negotiations are continuing with Israel, South Korea and Switzerland.
Any name that has already been incorporated, or is so similar as to cause confusion. Any name which in the opinion of the Registrar is considered undesirable, obscene or offensive. Names such as royal or imperial and any name that suggests the patronage of the Costa Rican Government.
All company names must end in either S.A. (Sociedad Anonima) or S.R.L. (Sociedad de Responsabilidad Limitada)
A Costa Rican Company is not permitted to conduct or carry out Banking; Insurance; Mutual Fund Management; Public Investment Management; or any associated activity.
Summary & Features
We Incorporate In Costa Rica your own Costa Rican Corporation which takes usually takes 5-7 working days, but we may need up to 10 working days for legalization of the documents and delivery by courier.
A Costa Rican Corporation is free to engage in many types of business activities, both in Costa Rica and in other countries and it pays NO taxes in Costa Rica on what it earns outside of Costa Rica.
Local laws require that a yearly tax report must be filed and our office, will handle this for you. Should there be NO INCOME gained WITHIN COSTA RICA to report there will be NO INCOME TAX consequences. However, even without income it is still necessary to file the documents and pay the government it’s annual fees.
Incorporate in Costa Rica
OUR Costa Rica Offshore Company Formation Package Includes:
- Confirmation of the availability of your new company name and reservation with the Registro Publico
- Appointment of the Directors
- Notarized Articles of Incorporation (Escritura)
- Preparation of English Translations
- Filings with the Registro Publico
- Payment of filing fees
- “Certificacion Literal” which confirms the existence of your company, who the directors are and who has signature authority
- Share certificates
- 1st year registered office
- 1st year registered agent
- 1st year government administration and maintenance