Can a Foreigner Incorporate a company in Costa Rica?
Yes, a citizen of any country may incorporate a company in Costa Rica. To form a corporation in Costa Rica the Commercial Code of Costa Rica that regulates corporate formation requires at least two incorporators to appear before a Costa Rican Notary Public to execute the articles of incorporation.
What must the articles of incorporation include ?
The articles of incorporation must include the following :
- the date and place of formation,
- complete identification of each of the incorporators including nationality and identity or passport number,
- the corporate name,
- the corporate purpose,
- the duration of the corporate term,
- the capital stock of the company,
- the capital contribution by the shareholders,
- the legal domicile of the company,
- the board of directors (at least a president, secretary and treasurer),
- an enumeration of powers of the directors,
- a statement as to the allocation of profit and loss,
- a statement as to how the company would be dissolved, and
- the name of a resident agent, who must be a Costa Rican Attorney.
With all the information provided to the Notary Public they can then record the articles of incorporation for you. Corporations can be formed by a Notary Public using the Crear Empresa digital platform which means the corporation can be ready for use in just a couple of days.