1. Can a foreigner start a business in Costa Rica?

Yes, foreigners can fully own and operate a business in Costa Rica without needing a local partner. You can register a Sociedad Anónima (S.A.) or Sociedad de Responsabilidad Limitada (S.R.L.), both offering limited liability. However, a resident legal representative is typically required for compliance and government filings.

2. What is the best type of company to open in Costa Rica for foreigners?

For most foreign investors, the S.R.L. (Limited Liability Company) is the preferred structure due to its simplified management and flexibility. An S.A. (Corporation) is also commonly used when issuing shares or dealing with investors. Both structures provide full foreign ownership and asset protection.

3. How long does it take to register a company in Costa Rica?

Company registration in Costa Rica usually takes between 2 to 4 weeks, depending on documentation, name approval, and processing times at the National Registry. BRIS Group can streamline this process by handling all legal steps and filings on your behalf.

4. What are the tax benefits of incorporating in Costa Rica?

Costa Rica operates a territorial tax system, meaning income earned outside the country is not subject to local tax. This makes it attractive for international businesses. However, local income is taxed at rates ranging from 10% to 30%, depending on annual earnings.

5. Do I need a local address to form a company in Costa Rica?

Yes, you must provide a registered legal address in Costa Rica for your company, which is required for government correspondence. BRIS Group offers registered office services to fulfill this requirement for foreign clients.

6. Can I open a corporate bank account in Costa Rica as a non-resident?

Yes, non-residents can open a business bank account in Costa Rica, but banks typically require in-person verification, company documents, and proof of economic activity. BRIS Group assists with introductions to local banks and preparation of required documents.

7. What are the annual compliance requirements for Costa Rican companies?

Costa Rican companies must file:

• Annual tax declarations with Hacienda (Ministry of Finance)

• An Ultimate Beneficial Owner (UBO) report with BCCR

• Yearly legal and accounting records
  Failure to comply may result in fines or company suspension. BRIS Group offers full compliance management.

8. Is Costa Rica good for setting up an offshore business?

Yes, Costa Rica is a strategic location for offshore service businesses, thanks to its territorial tax regime, ease of company formation, and strong privacy laws. It’s ideal for consultants, digital entrepreneurs, and asset protection structures.

9. What is the minimum capital requirement to start a company in Costa Rica?

There is no minimum capital requirement by law. However, a nominal amount is usually declared during incorporation (e.g., CRC 10,000 or more) and is recorded in the company’s bylaws. There is no obligation to deposit this into a bank account initially.

10. Do I need a visa or residency to own a company in Costa Rica?

No, you do not need residency to own a company in Costa Rica. However, if you plan to live and work in Costa Rica, you may need to apply for a residency permit or investor visa. BRIS Group can connect you with immigration professionals if required.