[ESTABLISHING A BUSINESS ENTITY IN COSTA RICA] 129
- Company under Classification F: The multinationals that do not belong to the classifications described above, characterized by having a name or brand whose history is known worldwide, in which the main corporate offices have decided the establishment of a subsidiary in Costa Rica, whose line of operation is developed in areas of production and marketing of goods and services. - Company under Classification G: Those foreign or national companies that are operating or will start operations in Costa Rica and were hired and duly awarded by the Costa Rican government through the processes of Government Contracts. The requirements will vary and depend on the classifications stated above. Once registered the companies will be able to request residency permits for the employees before and if the General Direction of Immigration will accept or deny their applications through an expedited process that usually takes between 1-3 months. Furthermore, on August 2021 entered in effect the law to promote the attraction of workers and service providers that are conducted remotely, to promote long-stay visitation in Costa Rica and increase the expenditure of resources of foreign origin in the country and the administrative regulation of how to implement it came in effect on July 4 th , 2022. This new migratory category of non-resident, subcategory of “estancia,” Worker or Remote Service Provider, can be granted for one year, extendable for a single period of one additional year. To authorize said extension, the beneficiary must have stayed in the country for a minimum of 180 days during the year originally granted. Some incentives are total exemption from the income tax, exempt from paying all taxes on the importation of basic personal computer, validity of driver’s license
from beneficiary’s country of origin, and may open savings accounts in the banks of the national banking system.
ILN Corporate Group – Establishing a Business Entity Series
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