A Costa Rican corporation (locally known as a SA) must appoint a minimum of three directors who must be individuals. This business entity must also appoint two shareholders. The minimum paid-up share capital required to complete the incorporation process is US$1;

The Costa Rica SA must name at least one local representative agent (who must be an attorney but not one of the directors) to be vested with management powers and legally authorized to represent the corporation. In practice, the chairman of the board is usually the managing director, while the other two directors act as treasurer and secretary.

Features of a Costa Rica PLC

Costa Rica  PLC

Corporate Details

General

  • Type of Entity

PLC

  • Registered Office in Costa Rica

Yes

  • Shelf company availability

Yes

  • Our time to establish a new company

5 weeks

  • Corporate Taxation

Yes

  • Access to Double Taxation Treaties

No

Share capital or equivalent

  • Standard currency

US$1

  • Permitted currencies

EUR, USD, GBP

  • Minimum paid up

US$1

No

  • No-par-value shares allowed

No

Directors

  • Minimum number

Three

  • Local required

No

  • Publicly accessible records

Yes

  • Location of meetings

Anywhere

  • Corporate directorship allowed

Yes

Shareholders

  • Minimum number

Two

  • Publicly accessible records

Yes

  • Corporate shareholders allowed

Yes

  • Location of meetings

Anywhere

Company Secretary

  • Required

Yes

  • Local or qualified

No

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

Yes

  • Publicly accessible accounts

Yes

Other

  • Requirement to file annual return

Yes

  • Migration of domicile permitted

Yes

 Costa Rica PLC Distinctive Benefits

  1. A SA offers a high degree of privacy and anonymity.
  2. 4 Members are required for a SA – President, Secretary, Treasurer & Controller. Board Directors appear on public record.
  3. Shareholders do not appear on public record.
  4. Costa Rica is not a member of the Hague Convention therefore if a bank account is planned to be opened outside of Costa Rica then the corporate documents have to be legalized. Legalization costs depend on the specific countries Consulates rates.
  5. Timescale of Incorporation – between 20-40 working days.
  6. An S.A operates a territorial taxation principle; the company only pays taxes according to the income generated in Costa Rica.
  7. There are no reporting or accounting requirements.
  8. Costa Rica is not considered an offshore entity and has a number of Free Trade Agreements in place (US, Canada, Mexico, Chile, Dominican Republic and the Caribbean). There are also negotiations underway with China and the EU.

The Valsen Advantage

  1. Speedy, Efficient and consistent Services.
  2. Relentless effort to obtain bank accounts.
  3. Expert advice on structuring options.
  4. Dedicated ongoing compliance support.