Attention: To ALL Beneficiaries of Costa Rican Companies

by | Jan 15, 2019 | Announcements, Articles, GLC Abogados

digital signature costa rica

Digital Signature Mandatory for ALL final beneficiaries of Costa Rica companies

If you are a legal representative of a Costa Rican company, it is important that you are informed that Law # 9416 to Improve the fight against Tax Fraud established the obligation to disclose the ownership structure and the identification of the final beneficiaries.

The following individuals are now obligated by law to obtain a Digital Signature Certificate during the 1st Quarter of 2019 to interact with the newly created Registry of Shareholders: 
  • Presidents of Sociedades Anónimas (S.A.s)
  • Managers and Sub Managers of Sociedades de Responsabilidad Limitada (S.R.L.s)

Sanctions for not complying:

  • 2% of the declared gross income according the last tax return of previous fiscal year.
  • A minimum of 3 base salaries and up to US$66,000.00 approx.

 

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