The obligation to submit the report of the Final Beneficiaries of legal entities in Costa Rica, will begin in September 2019. This obligation was established by the Law Against Tax Fraud regulated in Executive Decree No. 41040-H and through the resolution issued by the Central Bank of Costa Rica, the Costa Rican Institute of Drugs and the Ministry of Finance.
Final beneficiaries with a participation equivalent to or greater than 15% must be reported to the Central Bank.
Foreign Legal Representatives without DIMEX can grant a Power of Attorney to authorize third parties for the submission of the informative statement.
For 2019 the submission of the first informative statement must be done based on the following calendar:
Deadlines for the submission of the informative statement:
- Ordinary statements: After 2019, informative statement must be filed once a year, from Abril 1st to Abril 30th.
- Ordinary statements for Companies incorporated after the beginning of this obligation: The information must be provided within twenty business days starting from the date of incorporation.
- Extraordinary statements: The information must be submitted within the fifteen business days from the date in which the change is registered in the corresponding legal book.
Companies listed on a foreign stock exchange market must provide documents issued by competent authority and duly apostilled.
The information related to the ownership of companies domiciled abroad must be provided until the final beneficiaries are identified, as well as all the powers of attorneys granted in Costa Rica to carry out the business activity.