Starting a Business
Starting a Business in Costa Rica, Things you need to know
By Explore Costa Rica Staff
Feb 7, 2008, 16:29

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Starting a Business in Costa Rica, Things you need to know

Starting a business in Costa Rica What you need to know, and the processes a business needs to engage in to conduct trade with Costa Rica.

You can own and manage a business and its assets in most industries except those that are Costa Rican government-owned and operated (ex. natural resources, beach front developments, telecommunications and insurance business).

Foreign individuals and companies can set up branches and wholly owned subsidiaries and own 100% of their company without appointing Costa Rican citizens as shareholders or members of the board of directors. A foreign citizen can be an officer, director, partner, trustee, or shareholder. A foreign citizen negotiate contracts and conduct activities legally while living outside Costa Rica.

Foreign investors who want to live outside of Costa Rica might consider appointing two representatives: one with a power of attorney to operate your company in Costa Rica; and a lawyer with a power of attorney to handle administrative and legal matter on your company's behalf.

There are four types of business organizations that can be formed in Costa Rica:

• Corporation (Sociedad Anónima or "S.A.")

• General Partnership (Sociedad en Nombre Colectivo)

• Limited Partnership (Sociedad en Comandita)

• Limited Liability Partnership (Sociedad de Responsabilidad Limitada)

Of these, the Sociedad Anónima, or S.A. is the most widely used commercial entity. It is the equivalent of a U.S. corporation

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