Know The Reasons Why You Should Setup A Corporation In Costa Rica
Apart from scenic views, beautiful people, and admirable historical background, the country of Costa Rica offers business opportunities in various industries. It did not become a desirable business location for no reason. With optimum level of privacy, tax advantages, and fluency in English, you may want to setup a corporation in Costa Rica.
Needless to say, Costa Rica is becoming the prime location in Central America where investors look to setup operations. Here are some reasons why you should consider setting up in incorporating a company in the said country:
Costa Rica is fluent in two Spanish and English
It is challenging to establish a corporation in a non-English-speaking country, but that would not be a problem in this country. If you setup a corporation in Costa Rica, you will be exposed to people who can fluently speak Spanish and English. This also means you can name your company in either of the aforementioned languages.
The country is a member of the World Trade Organization (WTO)
Being a member of the World Trade Organization has accelerated Costa Rica’s process of transforming its main agricultural economy into promoting sectors such as business and trade in the country.
You only need 4 people to form an S.A (Sociedad Anonima) in Costa Rica
Sociedad Anonima is said to be the commonly used form of business in the country. If you setup a corporation in Costa Rica, this is said to benefit company owners. Costa Rica does not require you a lot of individuals to form an S.A. A company President, Secretary, Treasurer, and Controller is all you need to complete the board of directors.
There’s a high respect in privacy as well as anonymity
Shareholders would not need to worry because their identities will be off from the public records. The government does not also require accounting nor reporting requirements on companies.
Costa Rica provides short Incorporation Process
Do you know that it only takes 20 to 40 business days to incorporate your business in Costa Rica? This is a real advantage when you decide to setup a corporation in Costa Rica, for it will allow you to operate your business faster than others.
For those who want to set up a corporation in Costa Rica, good news is that the company does not to pay much tax because of the country’s territorial taxation principle. This principle requires the company to only pay taxes according to its generated income within Costa Rica.
Free Trade in Costa Rica
Costa Rica’s advantageous and strategic location has made it successful in terms of international trade. Not only that, because of Free Trade Agreements in Costa Rica has made it possible for businessmen to expand their operations in terms of importing and exporting of goods.
Now, with these give benefits, why think of incorporating a company in other countries while you can setup a corporation in Costa Rica? The opportunities are already laid in front of you, the country of Costa Rica is just waiting for you to grab it.