Offshore Costa Rica

Offshore Costa Rica is a growing hub for business and investing.  There are many factors that promote Costa Rica as a destination for business offshore; Costa Rica enjoys market access to 2.4...

Costa Rica Offshore Banking

Costa Rica offshore banking can safely be regarded as international banking as currently there are no pure ‘offshore banks’ in Costa Rica as one would find in the classic tax haven.  Costa Rica...

Banks in Costa Rica

The first efforts to establish a bank in Costa Rica occurred between 1847-1849 under the leadership of Dr. Jose Maria Castro Madriz.  His ideas were taken to Parliament through a proposition to...

Costa Rica Offshore Banking

Costa Rica offshore banking can safely be regarded as international banking as currently there are no pure ‘offshore banks’ in Costa Rica as one would find in the classic tax haven. Costa Rica offshore banking is available as a service to foreign nationals residing outside Costa Rica as international bank accounts that can be held and managed in Costa Rica.

Smart international investors and tax planners so this for the purpose of inheritance and succession planning. Other reasons for second passports include tax mitigation, an alternative place for residence and personal security. International investors with dual nationality to countries with low corporate tax rates are winners. Click here to get more information.

Many of the regulations that exist for offshore banking, however, are in effect for and are enforced by Costa Rica banks to reduce and eliminate the incidence of financial fraud and money laundering, as well as to uphold measures aimed at protecting customers. Costa Rica offshore banking is thus compliant, transparent and safe.

Costa Rica offshore banks would thus comprise international banks with the capacity to perform complex international transactions and serve a broad client base and the international market. Offshore banking in Costa Rica has become an integral part of the economy given the large number of foreign corporations that manufacture and operate in free trade zones and other parts of Costa Rica. It is absolutely necessary that a Costa Rica offshore banking/international banking system is administered to facilitate the flow and transfer of capital, trade bills and foreign exchange transactions.

Banking privacy is central to Costa Rica offshore banking and guarantees customers information safety. This enhances the possibility of using Costa Rica as a destination for asset management and international financial center. Asset protection schemes can also be devised because of the level of privacy available for offshore accounts in Costa Rica. This privacy can be increased by setting up a Costa Rica corporation (S.A.) under the name of which transactions can be made to protect the identity of the beneficial owners.

With new technology and advanced bank facilities, Costa Rica offshore banks provide international debit and credit cards from well known merchants in addition to online banking which makes it possible to bank offshore from any location, at any time of day and keep up to date with account status and perform transactions. Costa Rica offshore online banking eliminates the inconvenience of living in a country with a time zone that is different from that of Costa Rica.

To open a corporate offshore account Costa Rica, document requirements include:

  • A business description (a letter confirming and describing the business of the company

  • Certified copy of the Memorandum and Articles of Association

  • Certificate of Good Standing (original copy, issued in no more than the last 30 days)

  • Certified copy of Certificate of Incorporation or Corporate ID, as may be the case

  • Most recent financial statement or account statements issued no more than 6 months prior to Costa Rica offshore account application

  • One original Bank Reference and One Commercial (Professional) Reference

  • Particulars of beneficial owners of company (shareholders), along with a notarized copy of the share register. Any beneficial owner whose share is over 10% must submit two ID documents

  • Certified copy of passport, ID card, resident permit (where applicable) and any other form of identification as may be requested by the bank for Costa Rica offshore banking

Costa Rica offshore bank accounts include corporate checking accounts, current accounts, corporate/commercial accounts, deposit accounts, investment portfolio management and trust services, foreign exchange and international transfers. For companies, Costa Rica offshore bank commercial services include bank drafts, international guarantees letters of credit, collections and automated clearing house debit (ACH Debit).

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