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Requirements
The procedures for registering an offshore limited liability company in Costa Rica are briefly explained below. Interested parties however, are advised to seek professional assistance prior to the commencement of any registration procedures and in this the Law Office of Meléndez and Bonilla will be of great help.
Listed below are the preliminary requirements:
- Company Name: This is the most important factor since it portrays the company’s vision and mission and this is a most vital requirement to get started. Two or three alternative names are normally suggested for submission to the Registrar of companies. In case you wish to register a company with a name similar to an existing company in another country, then a letter of consent should be sent for submission to the Registrar which should also explain the meaning of the name, if any. Alternatively, our firm keeps a number of names approved by the Registrar of Companies out of which you can choose one that is appropriate for you.
- Objectives of the company: The main activities of the proposed company must be provided. It should be detailed as much as possible and should project the company’s vision and mission.
- Directors: In the case of offshore companies it is important from a tax point of view that the management and control is exercised from Costa Rica. In such a case, it is recommended that no more than one director should be appointed from abroad. For the appointment of such a director the following information is needed:
a. Full name
b. Nationality
c. Residential address
d. Occupation
We at Law Office of Meléndez and Bonilla usually provide, in addition to the above, local directors from our office who carry out their functions based on instructions from the beneficial shareholders. This facilitates the smooth and timely execution of the operation of the company.
- Secretary: The Company by law must have a secretary, usually; our office of Law Office of Meléndez and Bonilla can act as the corporate secretary.
- Registered office: It is also a requirement of the law that the company must have a registered office in Costa Rica, which may be used as the business address of the company. Our own office address can be used as such.
- Time needed to register a company: The formation and registration of the company including all the formalities can be completed within two to three weeks.
- Documents to be provided to the owners: On registration of the company we supply the owners with full documentation, properly legalized and translated into English comprising of the:
a. Certificate of registration
b. Memorandum and articles of association
c. List of director(s), secretary and shareholders
d. Address of the company’s registered office
e. Share certificate(s)
f. All other information concerning the company’s activities up to the date of its establishment.
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