Can I open a bank account in Costa Rica? - SRS-CR: Summerland Relocation Services

Banking in Costa Rica has become more and more accessible in recent years. You will need proof of some type of tie to Costa Rica like a rental lease (best in Spanish), land ownership or the ownership of a corporation (often the two go hand in hand) and a local utility bill. You will also need to identify where specifically the money is coming from when you deposit. Basically the banks are working with the government to ensure that all accounts are being used for legal means; they do not want to be a front for drug dealings or tax havens to say the least.

The most commonly used banks in the Southern Zone are BCR (Banco de Costa Rica), Scotia Bank, Banco Nacional, and Davivienda; there are quite a few others. BCR in particular has recently become very easy to deal with and very quick to help open an account.

If you are going to be staying in Costa Rica for half the year or more, we recommend opening a local account. It just makes life easier when dealing with finances, changing currency and paying any bills that might be associated to where you rent or own. If paying bills is a specific concern there is an alternate option of going through a lawyer, accountant or escrow service to set up an arrangement with an accountant where they will pay your taxes here and/or any other expenses that exist within Costa Rica.

Have you heard about Summerland’s Relocation Services? We can help you with situations like this anytime you need assistance! Subscribe to our service and you will earn a free consultation on any one thing you need help with – we will walk you through step by step. When you subscribe to our service we will become an ongoing source of information for all of your needs! Fill out the subscription information sheet here and send it to: info@srs-cr.com or simply click SRS Subscription Link to see the information we need and send it to us!