The Superior Notarial Council, through Resolution No. 11 adopted on October 18, 2023 stated that in the event of non-compliance with the duty to provide information to the Transparency and Ultimate Beneficiaries Registry (RTBF) of the Central Bank of Costa Rica by individuals and legal entities, the National Registry will not issue certificates of company standing nor will they register public documents on behalf of those who are delinquent in the filing of the disclosure forms.
Your Costa Rica Company Must Be Compliant with the RTBF Filing
Similarly, a notary public must verify the submission of said declaration before granting any type of public instrument or certification. The Notary Public must then indicate in the public deed that the legal entity is compliant with the filing. Failure to do so is a violation of Costa Rica Law.
However, notwithstanding the above, if a notary authorizes instruments without verifying in advance the compliance with the provision of this information to the RTBF (or even certifies that it is up-to-date when it has not been complied with), it could result in disciplinary liability for violating the provisions of the aforementioned regulations, of the Notary Code Law without prejudice to other possible administrative, civil, or criminal repercussions that may apply.
