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Costa Rica

Costa Rica Flag

Country: Costa Rica
Region: Americas
Currency: Costa Rican colón (CRC) (¢)
Languages: Spanish
Time Zone: UTC -6

Phone Code: +506

Communications: OK

Formation Cost: 1400 - 2600 USD$
Formation Time: 14 - 28 days
Maintenance cost: 500 - 700 USD$

Executive Summary: Costa Rica is between Panama and Nicaragua, with a population of just over 4m. The country's climate and beautiful scenery have given rise to a substantial tourism industry. The culture and language are Spanish, but English is widely spoken in business. The currency is the colon, standing at 490 to the dollar in late 2013. The legal system is based on a Civil Code and a Commercial Code. There is high literacy, a well-educated, skilled work-force, and reasonably business-friendly legislation which is less bureaucratic than in some Civil Code countries. In the last 20 years the Government has introduced a host of export incentives including Free Zones; as a result manufactured exports have shot up. Costa Rica has territorial taxation (i.e. it taxes only local income), although a move towards worldwide taxation has been under consideration for several years. For domestic companies taxation is significant, but for incoming investors taxes are low, and the sophisticated business environment is attractive. Costa Rica is a member of the Central American Free Trade Area, which includes the United States.

Suitable for: Yachting, Trading Goods, E-gaming, Property Ownership
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Company Purpose Stats:

Wealth Management:

 

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Shipping:

 

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Yachting:

 

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Vehicle Types: Limited liability companies, branches, sole proprietors, general partnerships and limited partnerships

Capital primary business districts: San José

Good Relationships: Canada, China, Germany, Netherlands, Switzerland, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 10%-30%, PIT 0%-15%, VAT 13%

Treaty Jurisdictions: Spain

TIEA Jurisdictions: Argentina, Australia, Canada, Denmark, Ecuador, El Salvador, Faroe Islands, Finland, France, Greenland, Guatemala, Guernsey, Honduras, Iceland, Mexico, Netherlands, Nicaragua, Norway, Sint Maarten, South Africa, Sweden, United States

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