What are the most common types of companies in Costa Rica?
When thinking of starting a business in Costa Rica, it is important to decide on which is the right type of legal structure. This will allow you and your company to grow according to your needs and goals, as well as ease the incorporation process. In this article, you can learn about the most common types of companies in Costa Rica and what are their requirements for incorporation. Remember that depending on the nature of business activities, size, etc., these may vary.
Costa Rica is one of the favorite countries in Central America for investors and entrepreneurs looking to start or expand their businesses. Furthermore, Costa Rica is known for having strong ties with the United States, as well as being a business-friendly country for foreign investors and tourists.
What are the most popular types of companies in Costa Rica? What are their requirements? How to register a company in Costa Rica?
Corporation or ‘Sociedad Anónima’ (S.A.)
A Corporation or ‘Sociedad Anónima’ in Costa Rica is recommended for bigger companies because it requires more people to be on the board. The name of the company can be either fictitious or the name of some of the shareholders but it has to have the abbreviation ‘S.A.’ at the end.
A Corporation requires at least 2 shareholders at the moment of incorporation, who have limited liability over their contribution
It is also required to have a Board with a minimum of 3 members and 1 controlling agent
There is no minimum capital required at the beginning
Limited Liability Company or ‘Sociedad de Responsabilidad Limitada’ (S.R.L.)
This is the most common type of company because it doesn’t require to have a board of directors, so the incorporation process is a lot easier. Just as with the Corporation, it requires to have the abbreviation ‘S.R.L.’ at the end of the name.
For the formation, it required to have a minimum of 2 shareholders
There is no minimum share capital required at the moment of incorporation
The Share Capital must be a multiple of 100 and is divided into ‘quotas’
It is necessary to appoint 1 General Manager
Foreign Branch Office
A Foreign Branch Office in Brazil has to have the same name as the main company
A Legal Representative is required. It can be appointed to a national or foreigner with permanent residency in Costa Rica
Some documents from the main company are required like Articles of Incorporation, a list of Shareholders, etc.
How to register a company in Costa Rica?
Choose the right type of company or legal structure
Prepare and sign all required documentation, depending on the type of company you decide on
Register the Articles of Incorporation
Register the company as a taxpayer and obtain your taxpayer ID
Open a bank account for your company
Register the staff at the Costa Rican Social Security
Get Assistance from Easyco Experts!
Costa Rica is the perfect country to register your company in Central America! To make sure you register your company in the right way, in compliance with all local laws and regulations, you can get in touch with us, and our team of experts is going to make the company registration process easy for you!
At Easyco, we make company formation in Costa Rica easy; our team of corporate experts has vast experience helping companies and individuals register their business in Costa Rica, with a proven track record of success across all of our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing a hassle-free online company registration experience.Start your company in Costa Ricatoday!
Easyco also provides additional services to guarantee your company’s compliance, which include: