Registering your Corporation: Have you done everything you need to do? - SRS-CR: Summerland Relocation Services

Just recently we published an article regarding 2019 Corporation Taxes and Registration. The article focuses on updated laws requiring anyone who owns a corporation in Costa Rica to fill out a “D-140 form” which must be submitted to the Tax Administration. The post also provides detailed information regarding timeframes and potential fines incurred if the form has not been submitted. Read the article in full here for anything you might have missed. Most important: the amnesty for not filing this form ends on March 4^th, 2019.

Now we are writing about how to register shareholders and beneficial owners in Costa Rica. The government requires, by law, shareholders or beneficial owners of any Costa Rican corporation or foreign company to go through a very specific registration process. This process has been newly instituted and the obligation begins March 1^st, 2019.

Please Note: If you own a corporation but do NOT have residency, there are extra steps you need to take to ensure that you are compliant with these new regulations. Both residents AND non-residents need to take measures to ensure their corporations are compliant.

In what way does this apply to you?

Most people who own property in Costa Rica do so through a corporation. If you or if someone represents you in one of the following positions for your corporation, you will have to go through the process of registering shareholders and beneficial owners. If you are unsure of what your role is within your corporation, contact us.

President, Manager or Assistant Manager, Personal Corporations Administrator, Foreign Corporation registered in CR the Power of Attorney Holder, Civil Corporation Administrators

In an effort to be clear on specific instructions, timeframes and other detailed information, we refer to the website of Costa Rican Law. Here you will be provided with step by step instruction on how to proceed and be compliant with your corporation in Costa Rica.