Costa Rica Offshore Company
Officially, Costa Rica does not have what is classified as an offshore company or a tax exempt company. Costa Rica implements a non-discriminatory taxation process, in which companies onshore or offshore are treated with the same tax process.
There are several types of Costa Rica Corporations for investors to choose from:
- Limited Liability Corporation (Sociedad Limitada) which is a corporate body where liability of the members is limited to the value of unpaid capital.
- Limited Liability Corporation- run by a sole manager and not a board of directors.
- Costa Rica Stock Corporation
- Partnerships –Limited, General
- Sole Proprietorship
Of these, the Costa Rica Stock Corporation is common and secure of all the Costa Rica companies and the one most frequently used for by investors for offshore activity. All Costa Rica Stock corporations must have a registered office, an accountant, a resident agent who is also a lawyer, and a minimum of three (3) directors. The requirements for the Costa Rica Company with offshore intent is not the same as typical offshore companies, but there an express need for a Costa Rica company, this would be the one of choice.
**** Costa Rica companies are taxed only on income generated locally (for resident and non residents), and non-local revenue is 100% tax exempt. And while there are no offshore companies per se, the Costa Rica company with its favorable taxation system can be very beneficial part of investment and tax planning.
The Costa Rica firm production, like Belize companies registration, process can be lengthy if compared to other offshore jurisdictions, taking up to three weeks to incorporate a Costa Rica corporation. The main administrative and incorporation requirements for the Costa Rica Stock company are:
- Accepted Authorized capital is 10,000, preferred shared and registered (nominal) shares are permitted
- A minimum of 3 directors and must have a statutory comptroller. There must be a position of secretary, president and treasurer, which may be held by the directors, and there is no need for local directors
- There must be a register of directors
- The minimum number of shareholders (subscribers) is 2, and can be any, a corporate entity or an individual.
The records for corporation are not available to public. Annual tax return must be filed in Costa Rica. All Costa Rica corporations or companies, must maintain a registered office in Costa Rica, and is normally that of the registered agent (who must be a lawyer). However, there is no requirement to file audited accounts, though Costa Rica corporations are required to keep updated financial records that reflect the company’s financial positions.