“Frequently Asked Questions We Receive” “Frequently Asked Questions We Receive”

We are a Costa Rican law firm founded in 2000 by Pedro Oller, focused on Corporate Law and Public Law. We serve both national and international companies, as well as foreign investors and entrepreneurs.

More than 25 years of experience (founded in 2000). During that time we have advised more than 1,600 national and international companies, helped secure over US$500 million in contracts awarded by government entities to our clients, and obtained more than US$200 million for clients in litigation and arbitration.

The team is led by Pedro Oller (founding partner) together with four other partners: Roberto Esquivel (Public Law, since 2001), Ricardo Vargas (Corporate Law and Litigation, since 2003), Rubén Hernández (Constitutional Law, since 2011) and Luis Pal (Intellectual Property, since 2021). The full team numbers around 30 people, including partners, associates and support staff.

Our two main areas are Corporate Law and Public Law, which include company formation and restructuring, mergers and acquisitions, public procurement, administrative law, constitutional law, immigration, regulatory compliance, intellectual property, environmental law, data protection, real estate, project finance and taxation, among other disciplines.

Oller Abogados holds ISO 9001 quality management certification, was the first law firm to obtain the 'Esencial Costa Rica' seal, and has been recognized by international directories such as Chambers and Partners, The Legal 500, IFLR and Latin Lawyer 250 in areas including administrative, corporate and M&A law.

We are a member firm of Ally Law and IR Global. These networks allow us to coordinate multijurisdictional matters for clients with operations outside Costa Rica.

Yes. We regularly serve foreign investors and companies, including Fortune 500 companies based in Europe, Asia and the Americas, and coordinate much of the work remotely, relying on our international network when a case involves other jurisdictions.

Both national and multinational companies, as well as foreign investors, entrepreneurs and individuals who need advice on creating and developing businesses or managing their assets.

Given the international profile of our clients (including companies based in Europe, Asia and the Americas), the team is fully bilingual in Spanish and English.

You can reach us through the form on the Contact page of this website. Once we receive your inquiry, we will review the information provided and get back to you as soon as possible with initial guidance and, if needed, schedule a meeting with one of our attorneys.

Yes. The Political Constitution grants foreigners the same rights as Costa Ricans to form companies and hold shares, with no need for a local partner or a minimum Costa Rican ownership percentage.

No. You can form and own a company without living in Costa Rica or holding legal residency. Managing day-to-day operations does not require residency either, although working for pay inside the country does require the appropriate immigration status.

The S.R.L. is often preferred by foreign investors starting operations: it does not require a full board of directors (a manager is enough) and reduces paperwork and annual compliance costs.

The S.A. requires a president, secretary, treasurer and fiscal, and is usually used in larger structures or when certain governance advantages are sought.

The choice depends on the size of the project and the partners' expectations.

Typically between 4 and 6 weeks, depending on document preparation, apostilles, translations and processing times at the National Registry.

Typically the partners' passport, a special power of attorney for the procedure and, in some cases, documents apostilled and officially translated into Spanish.

Every case is different, so we suggest contacting us so we can advise you according to your needs and circumstances.

It is a package of tax incentives (exemption from import duties, from the real estate transfer tax, reduced income tax rates, among others) granted by the Government of Costa Rica to companies making new investments and meeting job creation and minimum capital investment requirements.

It applies mainly to manufacturing, services, strategic sectors and exports, subject to PROCOMER approval.

Yes. Every legal entity registered in Costa Rica must declare annually to the Transparency and Beneficial Owners Registry (RTBF) which natural persons ultimately own or control the company.

The National Registry will not register company documents or issue certificates of legal standing until the declaration is regularized, which can halt procedures, financings or sales.

The three most used immigration categories are Investor (investment in real estate and/or securities), Rentier (fixed non-employment income) and Pensioner (lifetime pension). Each has different requirements regarding amount, source of funds and presence.

The current minimum amount is US$150,000, following the reduction approved in 2022 (it was previously US$200,000). The investment must be duly registered in Costa Rica.

The law recognizes, among others: investments in real estate, productive projects or projects of national interest, shares or securities in the Costa Rican market, and registered reforestation projects.

No. The purchase alone does not grant residency; you must file the formal application with the General Directorate of Migration and Foreigners (DGME) with documentation proving the investment and meet the remaining requirements.

The legal deadline is 90 calendar days from the date the foreign person meets all requirements for the intended immigration category, although in practice the process usually takes between 6 and 10 months depending on the workload of the Immigration Department.

You cannot work self-employed or be employed by a company, although you can own one and receive dividends, or serve as legal representative and receive fees.

Not all year, but there is a minimum presence requirement in the country (at least one day a year, as a reference) to keep your status current and be able to renew it.

After three consecutive years of holding temporary residency, you may apply to switch to permanent residency, which removes all work restrictions.

Yes, most categories allow you to include your spouse, minor children and, in some cases, student children up to age 25 or economically dependent parents (elderly) as dependents.

Yes, outside the maritime-terrestrial zone there are no nationality restrictions on acquiring registered property, either personally or through a company.

It is the 200-meter strip measured from the ordinary high-tide line; the first 50 meters are public domain and the next 150 meters are granted through municipal concessions, not full ownership.

Foreigners without residency cannot hold the majority of a concession, so these properties require a different legal analysis than normally titled property.

At a minimum: registry study (property ledger, liens, annotations), verification of boundaries and cadastral survey, current municipal and tax authority payments, land use permits, water availability and, where applicable, environmental or concession studies.

The transfer incurs a tax of 1.5% on the transaction value or the fiscal value (whichever is higher), plus notary fees and registry recording expenses.

Annually, the municipal real estate tax is 0.25% of the registered value.

It depends on the goal: a company facilitates succession, joint management among partners and can better organize asset liability, but if you are seeking to qualify for Investor residency through real estate, some modalities require the property to be held personally.

It is best to define the structure before signing the purchase agreement.

Rental income is taxed as real estate capital income at a rate of 15% on gross income (with the option to deduct a percentage of expenses under the applicable regime), regardless of whether the owner is Costa Rican or foreign.

Since July 2019, a 15% rate applies to the gain (the difference between the sale price and the acquisition cost plus documented improvements). It must be declared and paid within 15 business days after the sale.

No. Costa Rican tax legislation does not distinguish by nationality: the same rates apply for territorial tax, capital income and capital gains.

Costa Rica applies the principle of territoriality: only income of Costa Rican source (generated by assets, capital or services within the country) is taxed. Foreign-source income is generally not taxed in Costa Rica, even if its owner is a tax resident.

It is an annual tax on residential-use real estate (including vacation and luxury homes) whose value exceeds an exemption amount that is updated every year. It applies to both Costa Rican and foreign owners, with progressive rates.

Yes. Local banks allow companies with foreign partners or representatives to open accounts, although each institution has its own risk criteria and may request additional documentation on the source of funds.

In addition, the foreigner must travel to Costa Rica to sign the required documents. Finally, there is a high likelihood that additional documents will be required to complete the process, and the opening of the account remains entirely at the financial institution's discretion.

Typically: certificate of incorporation and bylaws, current legal standing, identification of representatives and beneficial owners (passport or DIMEX), income certification or financial statements, a 6-12 month income projection (the projection period depends on the bank) and, for U.S. citizens, FATCA forms.

It can add a step: a resident agent must be appointed and, in some banks, electronic signature or local proxies must be coordinated to speed up the process without partners traveling to the country.

In addition, the representative must travel to Costa Rica to sign the documents and, during that trip, complete the personal information and any other additional documentation the bank requires (forms for foreigners, FATCA in the case of U.S. citizens, etc.).