Costa Rica's Free Zones require definition of the system

There is concern about the incentives to be received after 2015 when benefits expire according to World Commerce Organization provisions.

Monday, November 10, 2008

The Government wants to ensure these conditions through a reform of the free zone law aimed at attracting investment.

However, its early yet and the possibility of taking it to Congress for a vote seems far off.

"If those incentives are not cleared up there is a high risk that companies will not want to invest in the country", said the consultant to the former Manager of Prcomer (Foreign Commerce Promotor), Eduardo Alonso.

More on this topic

Update on Free Zones in Costa Rica

August 2016

In 2015 331 active companies were registered, of which 52% are devoted to services, 45% to manufacturing and the remaining 2% to the food industry.

From the executive summary of the study by PROCOMER "Balance of Free Zones: Net profit regime for Costa Rica 2011-2015":

Free Trade Zones in Costa Rica: 5% Tax

April 2009

With the reform to the Law on Free Zones, the country is adapting its legislation to WTO rules.

On Tuesday, the Executive Branch presented draft amendments of the Law on the Free Trade Zone Regimen (7210), which amends five items in the current law, to the Legislative Assembly.

Costa Rica will give priority to reforming free zones

January 2009

During the first quarter, the Ministry of Foreign Trade (Comex) will send the bill to the Assembly in hopes of getting it passed during the first quarter of the year.

According to nacion.com, "the objective is to guarantee that companies remain in the country, to encourage them to reinvest and to have a clear legal framework to attract new companies.

Free Zone regime improves in Costa Rica

September 2008

Regulatory reforms seek to eliminate paperwork and facilitate partnership with local companies.

One of the most important changes in the new decree will allow companies that are under the incentives system to outsource 50% of their operations in the country and not just 25% was the norm until now.

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