Costa Rica Company Registration Services by Venture Overseas
Costa Rica company registration may seem challenging at first, but we can help guide you through the process.
Costa Rica’s per capita GDP of $12,032 is among the highest in Central America and is a result of the country’s strong middle class having a high degree of purchasing power.
It is also considered an emerging country strong economic activity in agriculture, tourism, the service sector, and industrial manufacturing. In the last decade, Costa Rica was also one of the largest global providers of electronic components and was the US’ second-largest provider of electronic components in 2010.
Costa Rica Company Registration Procedures
Costa Rica company registration involves 10 procedures which include pre and post-registration steps which take up to 23 days.
Then, these procedures are as follows:
1. Check the availability of the proposed company name
Applicants can also do this at the National Registry ( Registro de Personas Jurídicas) or through their online website free of cost.
2. Visit a notary to notarize public deeds of the incorporation charter
The applicant company’s shareholders and board of director must sign a public deed of incorporation drafted and authorized by the notary public, who will then submit it for registration to the National Registry.
A minimum of two founding shareholders is required, followed by members representing the roles of President, Secretary, Treasurer and Comptroller. The same person cannot occupy two different positions.
3. Deposit capital in the bank account, pay registration fees and stamp duties
As a prerequisite for company registration in Costa Rica, applicants must deposit 25% of the capital stock indicated in the incorporation charter in a national bank. The amount deposited may be withdrawn once the company has been duly recorded. If founders chose to sign a promissory note, there is no enforceable obligation to deposit capital in a bank account later.
Applicants will also make payment for registration fees, stamp duties, and other relevant costs from this bank account.
4. Register the incorporation charter in the National Registry and obtain authorization to legalize the company books
Applicants must register the incorporation charter, obtain authorization to legalize the company books, and send a notice of constitution of the company at the National Registry (Crear Empresa). These Costa Rica company registration procedures can also be done through their online website which provides a platform for all incorporation documents to be submitted electronically
5. File Form D-140 with the before the Tax Department to register the firm as a taxpayer
Taxpayers can register electronically through the tax department’s online website. The procedure will take less than one day.
6. Pay the Legal Entities Tax
Applicants must pay the legal entities tax within the first thirty calendar days following Costa Rica company registration with the National Registry. You can pay the tax from the website of any Costa Rican bank.
7. Register for labour risk insurance
This can be done at the National Insurance Institute (Instituto Nacional de Seguros). The annual premium for labour insurance is about 2.17% of reported payroll.
8. Register the company as an employer with the Social Security Institute
Applicants can submit the documents required to the Social Security Institute (Caja Costarricense de Seguro Social). They will then issue a registration form that allows the company to start operations.
9. Apply for a sanitary permit
You can do this at the Health Department (Ministerio de Salud).
10. Apply for the business license (patente municipal)
Then, this can be done at the relevant municipality office.
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Interested in company registration in Costa Rica?
Then, you’ve come to the right place. We are professionals in assisting businesses to venture overseas. Contact us today and let us also help you expand into greater heights.