Company Formation Services
Advantages to Incorporate in
Advantages to Incorporate in Costa Rica
Costa Rica is located in Central America between Nicaragua and Panama. It became independent from Spain in 1821 and is politically stable, with an expanding economy. The main sources of revenue are electronics exports, tourism and agriculture. However, the government has taken considerable steps and measures to encourage foreign investments. There are no significant barriers to foreign investment and restrictions on the repatriate of profits other than the deduction of withholding taxes. There is a relatively sophisticated legal infrastructure in place with businesses having a wide choice of structures under which to operate. Costa Rica is not subject to double tax treaties and exchange controls.
Costa Rica – “the Switzerland of the Americas” – has always created favourable tax conditions for offshore operations, but the country’s popularity as such, has only caught on over the last few years. Banks are required by law to maintain absolute secrecy regarding the operations of their clients. Information about normal banking operations is not passed on to any government agency – including the Tax Department. Information given to local attorneys/notaries is protected by professional secrecy. Under Costa Rican law there is still no particular requirement to get any licence to operate an online casino or gambling website.
An interesting angle of financial secrecy is the use of Costa Rican “offshore” corporations. Like bank accounts, these corporations can be started by anyone – citizen, resident, or tourist – and are supposed to be totally secret. Since there’s no way of knowing just whose names are on the corporation books, it’s almost impossible to discover who actually controls any of these corporations. In fact, the legal name is “sociedad anonima” or “anonymous society”. That’s why corporation names are appended with “S.A.” instead of “Inc.” or “Ltd.”
Costa Rica’s corporate structure allows any person (Costa Rican or not) to control a company without his or her name appearing in the public records. Our Costa Rican law office can set up your corporation without the real owner’s name ever appearing in the record. Although there is a legal president, vice-president, secretary and treasurer (our nominees), the actual ownership of the corporation is invested in whoever physically has the stock certificates in his/her pocket or safe-deposit box.
A Costa Rican S.A. is free to engage in many types of business activities, both in Costa Rica and in other countries and it pays nothing on what it earns outside of Costa Rica! Local laws require that a yearly tax report must be filed (we do the job); should there be no income to report, there are no tax consequences. Last but not least, Costa Rican corporations are now one of the best offshore vehicles because many of high-tax rated countries like the U.S.A. do not consider them as offshore companies!!!
Please note that the Standard Authorized Share Capital is only CR Colones 10,000 (something like US$30). Bearer Shares are not permitted here but actual ownership of a Costa Rican corporation is invested in whoever physically has the stock certificates in his/her pocket (Shares can be endorsed) or safe-deposit box (We do provide such service locally).
Time frame to incorporate: about 2 weeks
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Our multi-lingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your company.
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You can also come and visit us at our Limassol offices to discuss issues face to face if you prefer. Just arrange an appointment and we will be happy to meet with you.
Our Company Services
Services we DO and Services we DO NOT DO
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly registered and licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency business activities.