Simplified Procedures for Free Zone Companies

Modifications to the Costa Rica Free Zone and Active Improvement Regime include 52 procedures that can be performed online.

Tuesday, August 30, 2011

Among the steps that can be done online is the facility for businesses to apply for entry into the free zone regime, and changing the level of investment as well as the minimum level of employment.

Procomer General Manager, Jorge Sequeira, said the procedure simplifications are aimed at attracting more foreign investment into the country.

"These amendments are intended to streamline processes, in order to achieve a more competitive and efficient export sector, helping to consolidate the Costa Rican export platform further", said Sequeira to Elfinancierocr.com

The changes will take effect once they have been published in the Official Gazette.



More on this topic

Expectations in the Colon Free Zone

June 2012

The Zone’s directors expect more freight movement, further processing of products and employment generation.

Economic growth in the Colon Free Zone is unquestionable. The volume of exports and imports in 2011 reached $29.126 billion, growing by 56% over the past three years.

Balance of Free Zones in Costa Rica

October 2011

The Foreign Trade Promoter has revealed in a study the benefits that free trade zones contribute to the country, including the 58 thousand jobs that pay 60% above the average private sector salary.

From a press release by PROCOMER:

A study by PROCOMER reveals the benefits of free zones in Costa Rica:

El Salvador: New Law on Free Zones Delayed

August 2011

There is a growing demand for textiles and clothes manufacturing, but a new Law on Free Zones is needed in order to bring fresh investments to this sector.

The World Trade Organization (WTO) has determined, after two extensions, the country should, in 2015, replace the law that has been in force since 1998, which grants tax benefits such as a total and permanent exemption from taxes, among others.

Free Trade Zone Reform in Guatemala

August 2010

If proposed reforms are approved, the country should find it easier to attract foreign investment.

The reform to the Free Trade Zone law is expected to be approved by the end of the year, stated congressman Mariano Rayo.

"This initiative seeks to create conditions favorable to encouraging investment.