Shareholder Registry: New Deadline in Costa Rica

Initially the ordinary period to declare the beneficial owners of the companies was due on April 30, but the authorities decided to extend the deadline to May 31.

Thursday, April 29, 2021

This declaration was to be submitted during the month of April; according to resolution N°DGT-ICD-R-06-2020, however, due to the state of emergency facing the country due to the Covid-19 pandemic, these institutions agreed to extend the deadline, in order to guarantee the fulfillment of this obligation and facilitate voluntary compliance, informed the Ministry of Finance.

The official statement details that "... until May 31, 2021, legal entities will have until May 31, 2021 to file the ordinary declaration for the period 2021 in the Registry of Transparency and Final Beneficiaries (RTBF), according to resolution N° DGT-ICD-R-17-2021 published today, April 29, by the General Directorate of Taxation and the Costa Rican Institute on Drugs, in the official gazette La Gaceta."

Carlos Vargas, Director General of Taxation, told that "... the objective is to contribute to the decrease in the mobilization of people since it is a process that takes place once a year and is quite massive."

The article adds that "... the following legal entities, registered in the National Registry with a valid corporate term, must file this declaration: corporations, limited liability companies, partnerships, limited partnerships, limited partnerships, foreign companies with a national legal certificate, individual limited liability companies, civil partnerships and professional societies."

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From a statement issued by the Ministry of Finance: