Costa Rica Company Formation / Registration / Incorporation

GENERAL INFORMATION:

Costa Rica, officially the Republic of Costa Rica is a multilingual, multiethnicand multicultural country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west and the Caribbean Sea to the east.

Costa Rica, which means “Rich Coast”, constitutionally abolished its army permanently in 1949. It is the only Latin American country included in the list of the world’s 22 older democracies. Costa Rica has consistently been among the top Latin American countries in the Human Development Index (HDI), ranked 69th in the world in 2011. Also was cited by theUNDP in 2010 as one of the countries that have attained much higher human development than other countries at the same income levels, and in 2011 was highlighted by UNDP for being a good performer on environmental sustainability, and better record on human development and inequality than the median of their region. It was also the only country to meet all five criteria established to measure environmental sustainability. The country is ranked third in the world, and first among the Americas, in terms of the 2010 Environmental Performance Index.

In 2007, the Costa Rican government announced plans for Costa Rica to become the first carbon-neutral country by 2021. According to the New Economics Foundation, Costa Rica ranks first in the Happy Planet Index and is the “greenest” country in the world.

The central government offers tax exemptions for those willing to invest in the country. Several global high tech corporations have already started developing in the area and are exporting goods, including chip manufacturer Intel, pharmaceutical company GlaxoSmithKline, and consumer products company Procter & Gamble. In 2006, Intel’s microprocessor facility alone was responsible for 20% of Costa Rican exports and 4.9% of the country’s GDP. Trade with Southeast Asia and Russia boomed during 2004 and 2005, and the country obtained full Asia-Pacific Economic Cooperation Forum (APEC) membership in 2007 after becoming an observer in 2004. The Financial Times Intelligent Unit awarded Costa Rica with the fDi’s Caribbean and Central American Country of the Future 2011/12 for its successful record in attracting FDI into the country, and being the number one destination country in the region in terms of foreign direct investment (FDI) project numbers since 2003.

In recent times, pharmaceuticals, financial outsourcing, software development, and ecotourism have become the prime industries in Costa Rica’s economy. High levels of education among its residents make the country an attractive investing location.