Costa Rica offers an attractive and stable environment in which to establish a business. While in the not too distant past, the Central American country of Costa Rica has been home to more than 300 online gambling companies, the numbers have decreased dramatically in recent years.

Timeframe: within 3 months

Minimum paid up capital: No minimum capital requirement

Overview

Incorporation of Costa Rica company, if correlated to other jurisdictions, is rather a cost and time efficient. The organization structure is easy and enables the shareholders to be also a legal person. The organizations for conducting online gambling activities are needed to get a simple license known as “data processing license.

Although this used to be a favorite spot for online gambling businesses due to the lack of corporate taxes and comparatively low company formation services, in recent years the condition has improved due to a money laundering scandal. The administration of Costa-Rica tries to grow from it and in 2015 it introduced new anti-money laundering policy.

Some advantages of Online Gambling Company:

  • No public records ;
  • The highest level of privacy assurance;
  • Legal tax freedom;
  • No accounting obligations;
  • No requirements for the professional or financial position;
  • Business can be administered remotely
Notable features

General information

Company structure

At least 1 shareholder. Who can be a legal entity or natural person, no nationality limitation.

At least 1 director. Who can be a legal entity or natural person, no nationality limitation.

Taxation

Costa Rica businesses are excluded from the Costa Rica local taxes on income received outside of Costa Rica

Accounting conditions – None. Yet, some papers should be submitted

  • Secretary – Not Needed
  • Registered Agent – Needed
  • Registered Office – Needed

Company name

  • Language: Spanish, English (with accompanied translation in Spanish)
  • Letters: Any
  • Names holding royal, political, foreign, and financial or other signs are forbidden
  • Names that are misleading or deceitful are forbidden
  • Identical or nearly identical names are forbidden
  • Offensive names are forbidden
  • Names Requiring Consent or a Licence: Bank, buildings society, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, finance
Procedure

In order to receive a license, the subsequent steps will be carried out:

  • Gathering and preparation of the records for initial verification
  • Application for reservation of company name
  • Development and submission of the application and papers to the Registry
  • Establishment of the company
  • Data Processing License application with the Regulator
Documents Required

If you are thinking of getting Costa-Rica Online Gambling permit, kindly provide the following papers:

  • Notarized copy of valid passport (each of Administrator/Director or Shareholder)
  • Notarized copy of proof of residence (e.g. Utility bill of each Director)
  • Salvadoran Tax Payers Identification Card- for each shareholder
  • Bank reference (of each Administrator/Director)
  • 2 Character reference Letter issued by professionals (of each Administrator/Director and Shareholder)
  • Complete CV dated and signed by the applicant (of each Administrator/Director and Shareholder)
  • Diploma of higher education
  • Notarized criminal record

In case the shareholder is a business, it is expected to provide:

  • Certified correct copy certificate of registration
  • List of stockholders
  • Copy of the last annual/financial return
  • Apostilled Certificate of Good Standing

Additional Due diligence may be appointed by Government Authorities*:

Original documents that prove the source of capital