Reporting shareholders information to Costa Rican Central Bank
Starting September 2019 there is a new Law out, 9416 (Transparency of shareholders), and it's about disclosing the shareholder's information to the Costa Rican Government for every Costa Rican Corporation, Foundation and Association. This requires an update and disclosure as follows:
1. New companies: It must be done within 20 days from the date the Corporation was duly registered.
2. Old Registered Corporations: Every year in April even if there are no changes on the shares/Cuotas distribution..
3. Changes of stock in Registered Corporations: If there are changes in the capital stock, it must be updated within 15 days from the time that it occurred.
CONSIDERABLE PENALTIES APPLY IF THE DISCLOSURE IS NOT FILE ON TIME
Keep in mind the following information below:
This information is for you to know the month of the year. It depends on the last digit of your Entity ID as follows:
Reporting on September, 2019, ID ending in 0 and 1.
Reporting on October, 2019, ID ending in 2 and 3.
Reporting on November, ID ending in 3 and 4.
Reporting on December, ID ending in 6 and 7.
Reporting on January, 2020, ID ending in 8 and 9.
In order to accomplish the Law requirements, you must have a Digital signature (Firma Digital) known to some as (electronic signature), which is a device with a card issued by the Central Bank of Costa Rica. Only Costa Rican citizens or Residents with DIMEX (Residency ID card), can get the Digital Signature. If you are a foreigner WITH NO RESIDENCY you WILL NOT be able to get the aforementioned device or submit the information yourself. As an Option, we provide the service of filing the report. If you are interested on that service please let us know..? In order for us to help you, we'll have to have you grant a POA to us. The power of attorney will be specific and limited to act on behalf of your Corporation for this purpose only or if more help is needed to see information below.
Penalties for not filing on time will be 2 % of the company´s gross income, if the 2% of the gross income is less than $ 2,231.00 approximately. However, the penalties could be a lot worse if you ignore this. The Tax Office ultimately can place a lien on the corporation.
Information to be filed is as follows:
1. Shareholders ID.
4. Amount of shares owned.
5. Distribution of the shares.
6. Value of the shares.
7. The date the shares were acquired.
If you need help with this process please send us an email to: email@example.com copy: firstname.lastname@example.org