More Public Limited Companies Close in Costa Rica

In the first nine months of 2019, 4,715 companies were closed, 13% more than the total number of companies closed during the whole of 2018, which could be because of the entry into force of the Personal Income Tax Law.

Monday, October 14, 2019

Since 2017, the year in which the Corporate Income Tax Law came into force, the number of corporations that closed their operations in the country began to increase.

See "Costa Rica: Return of Corporation Tax

Official data indicate that in 2017 the number of companies that were dissolved reached 3,603. By 2018 the number was 4,145, which was 15% higher than that reported in the previous year.

Regarding the reasons why a company can be diluted, Tomás Guardia, Deloitte's tax partner, told Nacion.com that "... Some companies are dissolved because the term expires, then the Registry dissolves them. This happens even if the parties want to save it but must submit documents to extend the term (life of the company)."

For closing a company, the report says that "... Specialists recommend that, before starting the dissolution, a review should be made to determine whether the company is debtor, creditor, has mortgages or has issued guarantees, such as promissory notes.

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More on this topic

Registration of Corporations up 5% in 2019

February 2020

In Panama, 13,775 corporations were registered in the country during 2019, 4.6% more than those reported in 2018.

The most recent figures from the Office of the General Comptroller of the Republic detail that between 2018 and 2019, the number of corporations registered in the country grew by 4.6%, from 13,171 to 13,775.

Registration of Corporations Still Rising

January 2020

In Panama, during the first eleven months of 2019, 12,763 corporations were registered in the country, 4% more than those reported in the same period of 2018.

The last report of the General Comptroller of the Republic details that between January and November 2018 and the same period in 2019, the number of corporations registered in the country increased from 12,272 to 12,763.

Registration of Public Limited Companies grows to 3%

November 2019

During the first nine months of 2019, 10,476 corporations were registered in Panama, 3% more than those reported in the same period of 2018.

The latest report of the General Comptroller of the Republic details that between January and September of last year and the same period of 2019, the number of corporations registered in the country went from 10,146 to 10,476.

Registration of New Companies Keep Falling

June 2019

In Panama, during the first four months of 2019, 4,314 corporations were registered in the country, 8% less than those reported in the first quarter of 2018.

The latest report of the General Comptroller of the Republic details that between the first quarter of last year and the same period of 2019, the number of corporations registered in the country went from 4,692 to 4,314.

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