Costa Rica Company Formation

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 4,650,000. 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.

Legal System
The legal system is based on the Spanish Civil Law.

Currency
The Costa Rican Colon (CRC), but The US Dollar is used freely.

Language
The official and spoken language is Spanish. In business English is spoken although not widely.

Disclosure of the Beneficial Owner
Although it is required to disclose details of the Beneficial Owner to the Government Authority, Blank Endorsed Shares are permitted, and allow for total privacy.

Taxation
The system of taxation in Costa Rica is territorial, meaning that 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.

Exchange Control
None

Name Restrictions
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)

Trading Restrictions
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
Costa Rica has strict rules on nondisclosure of bank accounts.

Costa Rica’s corporate structure has similar rules, and allows any person to control a company without their name appearing in the public records, through the use of nominees and a power of attorney.

We can offer you your own Costa Rican Corporation which takes approximately 3-6 weeks to incorporate without YOUR name ever appearing in the public record (Registro Publico). Although there is a legal president, and secretary (nominees), the actual ownership of the corporation is vested in who ever physically has the BLANK ENDORSED share certificates in his/her pocket or safe-deposit box.

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 TAX consequences. However, even without income it is still necessary to file the documents.

OUR Costa Rican Corporations Include:

• Name availability check.
• Resident Registered Agent
• Registered Office
• Nominee Director
• ALL Original Documents

Costa Rica’s legislation has long created favorable tax conditions for offshore operations but the country’s popularity as such has only caught on over the last few years. Information given to local attorneys/notaries is protected by professional privilege and secrecy.

Now is truly the time to get established offshore before it’s too late!

Order your Costa Rica Corporation online now for only US $ 1,695

Incorporate in Costa Rica today!

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We offer complete company formation services in a variety of jurisdictions, take advantage of our experience.