When purchasing a business, the buyer must learn about all factors of the business in order to determine if the purchase is a sound investment. The process to learn these factors is called Due Diligence, which basically means doing your homework on the business. Scope of
La Gaceta issue from April 3rd, published a notice stating the new deadlines for filing the registration for shareholders. As you may know, it is required to file with the Central Bank of Costa Rica (BCCR) a list of the shareholders owning more than 15% of
Currently, the Board of Elections (Tribunal Supremo de Elecciones or TSE) may change your name when you obtain citizenship in Costa Rica. The TSE is the agency responsible for processing the applications for Naturalization. This process is different than obtaining residency which is processed by
The Education and Culture Tax was created by law N° 5923 from 1976 named Taxed for Education and Culture. Certainly, the purpose is to raise funds to support the school system as well as the programs for the Department of Culture. The tax is applicable to
The number of square meters built as condominiums grew almost seven times in the last decade, according to data from the Costa Rican Chamber of Construction, since the total area used for housing in 2000, 13% were condominiums and the rest, single-family options. Meanwhile, already
As many of you know, the Costa Rican government has a big debt problem and is in the process to increase the revenue through numerous means, one of the them is to improve the income tax on corporations and people. In addition, the country is attempting
Many of you may already know this, however, it is always important to remember that an essential requirement when applying for Residency in Costa Rica is to have legal status in the country. That means that your entry stamp, received at the port of entry,
The Revenue service of the Ministry of Finance (Hacienda) announced at the beginning of 2019, that they will request the Public Registry for the dissolution of 74,185 corporations, which together owe the revenue service more than ¢ 10,600,000,000 (Roughly $17,500,000 USD) for failing to pay
Once again we have to discuss penalties and fines. As we have mentioned many many times before, since March 2010 Costa Rica is trying to impose penalties and fines for overstaying. The general idea is that tourists with expired entry stamps, temporary residence or special category
[vc_row][vc_column][vc_column_text]Per Costa Rican law, any tico, Resident (either Temporary or Permanent), Student, Refugee, Asylee or Stateless child under the age of 18 needs a Minor’s Exit Permit to depart the country. It is, simply put, the authorization that the parents or legal guardian provide so