Costa Rica Business
Starting a business in Costa Rica could be a great idea. We are one of the safest and most willingness countries to work with foreign investment in America. Although it can be a bit daunting, like in any other country, doing business in Costa Rica is fairly convenient: the government and financial institutions are pro-U.S. and the continental stance, their regulations, laws and taxes are very welcoming. The investment friendly policies have made of Costa Rica business a very good choice for investors and well known enterprises such as ACER, Abbot Laboratories, Continental Airways and Intel Corporation, where they have positioned branches and found a very good and extensive workforce. Western Union chose Costa Rica as its Latin American headquarters. Even The World Bank has given Costa Rica an excellent grade in political and economic health.
Costa Rica has the most educated, computer literate and disciplined population in Central America, along with the ultimate production infrastructure available; the potential investor will get all the required tools and workforce needed to succeed in his business. Among Costa Rica business services and incentives we can mention the many free trade zones that offer exemptions to import duties on raw materials, parts and components, unrestricted profit repatriation; tax exemption on profits for eight years and a 50 percent exemption for the following four years. We highly recommend that if you are in doing business in Costa Rica the first step you take is getting to know our country, this way you can find what could be the best and profitable spot for your company. Please feel free to contact any of our travel consultants to inquire about accommodations and information on the matter; they will be delighted to help you while you hunt your best choice in business in Costa Rica.
The Costa Rican corporate legal system is easy to access and the regulations are safe for both the employee and the employees. If you are about to start your business in Costa Rica, you need to make clear what type of company you are subscribing:
- General Partnership (Razón Social), Limited Partnership (Compañia)
- Limited Liability Company (Sociedad de Responsabilidad Limitada), Corporation (Sociedad Anónima) wich is the commonly used type and is very similar to the Incorporated Companies (Inc) of the United States
To have a Sociedad Anonima, you will need at least 2 named stock holders and officers; no partner is required to be Costa Rican to start your own business in the country:
- Vice president
- A secretary
- And a treasurer
The name of the company should always be in Spanish and shouldn’t be used by another company. Once your company is registered you will have to get a Cedula Juridica, wich is your company’s ID and it allows your company to operate freely in its field. You will need help from a Costa Rican attorney for all the regular legal processes required to open a business. Any company or individual entity is allowed to own property in costa rica with only a few restrictions, especially if the property is located near the beach of forest, where there are more specific regulations. Refer to our real state specialists to coordinate the steps you need to take when finding the correct location for your company.
Other requirements needed to open a business in Costa Rica are work permits (not needed if you already own stock in Costa Rica) and your residency (if you invest a minimum of $50 000 on a tourism related business and $200 000 on any other businesses, getting a residency should not be a problem at all). Remember that Costa Rica is also conveniently located in the middle of the larger markets of the world wich makes it and interesting and profitable location for your business.