Global Business Service Agency: legal services for business
Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.
The Republic of Costa Rica is considered the smallest but the most stable and reliable state of Latin America. In the period of crises of 2008 and 2014, the country economy practically did not suffer (according to the International Development Bank) from world precedents and is still actively growing due to competent management of state investment policy. Nevertheless, the key advantage of the republic is the ability to conduct offshore business.
Offshore in Costa Rica: characteristics and differences of jurisdiction
- Real estate transactions. The zone is included in the list of the few countries where the offshore business on an equal basis with the local can carry out all kinds of transactions with real estate, including acquisition in corporate property.
- Founders and executives of companies can expect to get a residence permit of the republic.
- Enterprises, which operate in the territory of FEZ (for today 12) and outside the country, are completely exempt from tax obligations.
- There are no property or inheritance taxes in the republic.
- All active harbor companies pay an annual corporate tax of $400, inactive, but registered firms pay tax in $200.
- The company in Costa Rica, whose place of business is recognized by the Republic (including transactions where the money comes to the account in the jurisdiction), pays such taxes (rates for the beginning of 2018):
- Corporate tax – 30%;
- Sales tax (analogous to VAT) – 13%;
- Income tax: For income up to $37 465 – 10%, from $37 465 to $75 363 – 20%, from $75 363 and above – 30%;
- Corporate social insurance – 26.33%;
- Tax on dividends, interest and royalties – 15%;
- Social insurance for the staff – 9.34%.
Company registration in Costa Rica: basic regulations
Staffing structure of the company
To register a company will require a minimum of 2 shareholders, allowed registration by non-residents and legal entities. It will also require the formation of a board of directors of at least 3 members (treasurer, president, secretary) who may also be non-residents of the country. The company also invites a staff auditor (permissible non-resident), which controls the functioning of the Board of directors and reports to shareholders. Meetings of shareholders shall be appointed at least once a year and may be held outside the territory of the country, but in places previously specified in the charter agreement. The company is obliged to have registration in the territory of the country and a resident agent.
The statutory fund of the company nominated in any currency and is not regulated in the amount (but not less than $100), but is mandatory to pay (25% immediately after registration and 75% in the first month of operation of the company). The capital of the company can be issued in the form of any shares, including the bearer.
Minimum package of documents:
- Identifying documentation of the beneficiary;
- Memorandum and charter of association;
- Register of shareholders and directors;
- Minutes of the first meeting;
- Resolution on the appointment of executive persons;
- Register of shares;
- Certificate of shares.
The cost of opening the incorporation is from $2 945 (including the package of apostilled documents). Services of nominal service – from $895. Annual extension of the offshore company – from $2 295 (including reporting).
Find out how to register a company in the most reliable harbor of Latin America right now from the specialists of GBS Agency!