Costa Rica Company.
Across all geographical boundaries, the objective of any business is to enhance the shareholders value by making profits. Increasing sales through marketing efforts or cutting costs through efficient processes has been the time tested mantra for long. While enhanced marketing efforts are required for long time sustenance in the industry, cost cutting has more to do with incrementing profits through efficient work methodologies. Taxation being is a major part of the cost and reflects negatively on bottom lines, every country has its own forms of taxation for businesses. An average economy taxes businesses by approximately 30% of its earnings. So, taxation erodes.
You may be thinking that incorporating business in such a country would leave you without control, or since you are not a resident of the country, you may not be able to do so. These are just myths. Costa Rica is one such country that that is reputed to be the safest and most business friendly of countries in Latin America for new businesses and off-shore investments. In fact, over the past few decades, Costa Rica has deliberately adopted a set of policies to attract foreign business investments. The country’s burgeoning technology, tourism, and manufacturing sectors all testify to the success of this philosophy. This policy of business accommodation, coupled with Costa Rica’s stable long-standing democracy and system of low taxation, establishes this as an ideal country for foreign investment. In fact, you do not even need to reside in Costa Rica in order to establish and profit from owning a Costa Rican corporation.
With the right legal guidance, you can enjoy strict privacy laws regarding banking and corporate operations, a system of low taxation and various tax exemptions for businesses, along with the absence of citizenship or residency requirements while building and growing your business in a protective profitable business environment.
The idea of starting a new business can take you through cloud nine. It is one of the most ambitious things anyone can venture into during their career. And, the initiative to start a business in foreign lands is easy said than done. Over the past few years, Costa Rica has become a safe haven for novice entrepreneurs. It has delighted potential investors with many opportunities and lucrative possibilities.
If you wish to start a business or company in Costa Rica; look no further. This article will give you a comprehensive insight through Costa Rica Company Registration procedures.
The Smart Differences of Costa Rica Companies
First of all, you must comprehend the fact that Costa Rica Companies are quite different from traditional offshore establishments. The nation delights potential investors with many wonderful incentives. If you wish to open a foreign company in Costa Rica, here are few amazing benefits for you:
1) Costa Rica Company Registration doesn’t require a massive share capital. In fact, you will not be forced to have a minimal share capital too.
2) The country doesn’t charge tax on company profits or incomes. This makes Costa Rica an ideal tax haven.
3) At no cost would details about your company be exchanged with other nations or organizations.
4) If you open up your company in the free zones, you can rejoice over many exemptions!
Starting a Company in Costa Rica
So, what does Costa Rica Company registration comprise off? Are the procedures long and tacky? Here is a simple, step by step insight through the entire routine.
1) First of all, you must choose a name for your company. The name has to be unique and legit.
2) The Articles of Association should be registered with the Mercantile Public Registry. However, you don’t need to make minimal payments or share capital investments.
3) The Costa Rica Company should have two founders (at least)! The founders will be liable for the firm’s debts only as an extension of the capital.
4) Moving on, all legal requirements and banking formalities should be completed timely.
The Limitations of Costa Rica Company registration
On the other hand, offshore Costa Rica Company registration comprises of few more requirements. The limited liability company’s capital should be broken into quotas. These quotas cannot be transferred between third parties. Also, an annual tax of 300 USD should be paid. Apart from these limitations, Costa Rica is an idyllic place for offshore establishments.
Costa Rica Company Formation.