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Costa Rica allows the formation of a Sociedad Anonima (SA), which requires that the structure of the company be disclosed along with information about the share capital and other information. The process takes approximately two weeks.
The proposed name and SA suffix (foreign names are permissible providing a Spanish language translation is also provided) should be submitted to the Public Registry. Costa Rica company formation requires three directors of any nationality along with shareholders. Once formed, one person may hold all the shares and businesses with corporate ownership are also permitted.
There is also zero requirement for minimum share capital at the time of incorporation, although 25 percent of it must be paid and the transfer of shares and ownership of shares is regulated. The Articles of Incorporation must be notarised by a Costa Rican notary public, in order for a registration card number to be issued.
The company is required to maintain a minutes book for the directors and general assembly with a registry of shareholders and three accounting books. Tax authority registration is mandated.
To register a company in Costa Rica, a country-based fiscal and resident agent are required, and the company must maintain a locally registered address with directors listed as Secretary Treasurer and President.
- Corporate and income tax-free business environment
- Zero requirement for financial statement filing
- High level of corporate confidentiality
- Zero requirement for corporate meetings provided business isn’t conducted in Costa Rica
- Low business registration and maintenance fees