Tax and accounting regulations

Summary of Requirements for a Costa Rica S.A.

General Information
Type of Company Private Corporation S.A.
Timescale to incorporate Approx. 10 working days
Corporate Taxation Nil
Double Tax Treaty Access: No.
Directors
Minimum No. Required 3 required, President, Secretary & Treasurer. May be individual or Corporate
Local Director Required No
Publicly accessible information No
Location of Meetings Anywhere
Shareholders
Minimum No. Required 2, 100% foreign shareholders allowed. May be the same as directors. Can be individual or corporate.
Publicly accessible information No
Location of Meetings Anywhere
Company Secretary
Required Yes
Local Secretary Required No
Registered Office / Agent Required Yes
Share Capital
Standard Currency CR Colones / USD
Standard Authorised 10,000 CR Colones / Approx. USD 30.00
Minimum Paid Up Capital At least 25% of the issued share capital must be paid up upon incorporation.
Accounting & Compliance
Requirements to prepare Accounts Yes
Requirement for Audit No
Local Auditor Required N/A
Requirement to File Accounts No
Requirement to file Annual Return No
Accounting Year End The fiscal year runs from 1st October until the 30thSeptember however an application may be made to the authorities to adopt a different year end
Additional Information
Bank Account Opening Eltoma Corporate Services can open a bank account in Cyprus for a Costa Rica S.A. without presence. We can also offer bank accounts in a number of other jurisdictions, please contact us for information.

Taxation:

Individual Tax Rate:
  • Territorial principle of taxation. Individuals are taxed only on income earned in Costa Rica.
Corporate Income Tax Rate:
  • Territorial principle of taxation. Corporations are taxed only on income earned in Costa Rica.
Taxation of Dividends:
  • None
Capital Gains Tax:
  • None
Withholding Tax:
  • None

Take the next step, we are here to help.

Register a Costa Rica company.
Open a Costa Rica bank account.

  Resources:

Russian citizens can gain Cyprus tax residency by staying only 60 days on island, whats the catch?

Russian citizens can gain Cyprus tax residency by staying only 60 days on island, whats the catch?

Cyprus is once again working to improve its economic desirability and will be able to increase its alternative business base for Russians with good creditworthiness.

Cyprus tax department releases new guidance on CRS deadlines and the online portal

Cyprus tax department releases new guidance on CRS deadlines and the online portal

The Cyprus Tax Department has released a notification to all Cyprus based Financial Institutions & Service Providers of the new guidance notes on the Automatic Exchange of Financial Account Information and other information relating to the Common Reporting Standard (CRS).

Hong Kong establishes AEOI agreement with Indonesia

Hong Kong establishes AEOI agreement with Indonesia

Last week, Hong Kong finalised and signed an agreement with Indonesia to allow for the automatic exchange of financial information (AEOI) regarding all tax matters.

 

New requirement for Scottish LPs to disclose all PSC information to the Companies House

The legislation for Scottish Limited Partnerships have changed regarding the disclosure of information. Going forward, Scottish LPs will have to register all information about PSCs and Business Owners with the UK Companies House from July 24th 2017.

 

Key amendments to the Singapore Companies Act

Significant changes to the commercial and company law in Singapore have come into effect. The changes to the Singapore Companies Act will hopefully make business entities more transparent as well as mitigating the risks of money laundering and terrorist financing.

Panama Law 52: Updated legislation for all legal entities

Panama Law 52: Updated legislation for all legal entities

Last month the Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.

Important 2016 reporting deadlines for BVI Financial Institutions

Important 2016 reporting deadlines for BVI Financial Institutions

Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.

Thinking of relocating your business to Singapore? Let us help you!

Thinking of relocating your business to Singapore? Let us help you!

Singapore has quickly become one of the world's most prosperous countries with strong international trading links and per capita GDP equal to that of the leading nations in Western Europe, making it an ideal destination and potential location for Business Owners to relocate and start a new business and lifestyle.