Costa Rica: Rules for Shareholders´Registration

Although the Central Bank has not yet defined the date on which companies must present information, the new regulation on transparency and final beneficiaries registration has already been published.

Monday, May 7, 2018

The regulation was published at the end of April in the official newspaper La Gaceta, and details which entities are obliged to provide information regarding the substantive and final beneficiary interests, established in the Law to Improve the Fight Against Tax Fraud.

"... Those required to comply with the provision of information are legal persons and other legal structures domiciled in the country, third party resource managers, non-profit organizations and private trusts, including foreign trusts that carry out activities in the country. The information that the obligors must provide is related to shares, in both, equal to or greater than 15% of the total capital and final beneficiaries."

See "Costa Rica: Shareholder Registry Approved"

In her article on Elfinancierocr.com, Carla Coghi explained that "... For the presentation of this information we are waiting for the Central Bank of Costa Rica to define the procedures, for which it has a maximum timeframe up to June 30, 2018."

See complete regulation. (In Spanish)



More on this topic

Moratorium on Shareholder Registration

January 2020

In Costa Rica, the Legislative Assembly approved in first debate a bill to avoid fines for errors in the declaration of the shareholders' registry for two months.

In its first debate, the file 21,758 Law of Moratorium for the Application of Sanctions corresponding to the ordinary declaration of the 2019 period, related to the transparency and final beneficiaries’ registry, provided for in the Law to Improve the Fight against Tax Fraud, was approved. The initiative gives an extension for shareholders of corporations to submit their lists, before applying sanctions, reported the Legislative Assembly.

Shareholders Registry: Projecting Backlogs in Costa Rica

September 2019

Businessmen ask for an immediate extension in the application of any fines, as many representatives of companies have not yet managed their digital signature and at this time, there is no capacity installed in the authorized posts.

Since September 1, the process of registration of approximately 370,000 legal persons began. They will have the obligation to comply with the "Registry of Transparency and Final Beneficiaries," and the legal documents ending in 0 and 1 should have done so first.

Costa Rica: Shareholder Registration Begins in September

August 2019

As of September 1, approximately 370,000 legal entities will be required to comply with the Registry of Transparency and Final Beneficiaries, with the legal documents ending in 0 and 1 being the ones that must do so first.

However, as of September 1, 2019, legal entities who prefer it, regardless of the last digit of their identity card, may make their declaration and send it in advance.

Shareholder Registration Postponed

February 2019

Because of doubts that have arisen in the business sector, in Costa Rica it was reported that the start of shareholder registration was postponed six months and will enter into force on September 1 of this year.

The aim of this process is to facilitate compliance with the obligation that companies must inform the Treasury on the composition of its share capital, as well as the identification of final beneficiaries, under the provisions of the Law to Improve the Fight against Tax Fraud, a statement from the Central Bank of Costa Rica (BCCR).

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