How to obtain a crypto license in Costa Rica?.
Costa Rica encourages international business and crypto companies. This jurisdiction allows the incorporation of a company, which would be enough to conduct the following activities without a license: crypto, IT, marketing, gambling, and forex. It means that the crypto license, permit, authorization is not required for doing business with cryptoassets in and from the country.
Advantages of obtaining a crypto license in Costa Rica
- Costa Rica has a good potential for a simple start and subsequent expansion of business.
- It offers a simple and cost-effective business registration process, making it an ideal choice for project commencement.
- Costa Rica has a territorial principle of taxation, meaning that there is no taxes if the company provides activities abroad.
- Costa Rica’s government actively supports international business endeavors and welcomes the presence of cryptoasset related activities.
- Jurisdiction does not require audit.
Registration of a crypto company in Costa Rica
- Collection, preparation of documents and a company incorporation: a company incorporation takes up to 5 working days from the receipt of the necessary documents. The jurisdiction does not require minimum authorized capital. One person acting as shareholder and director will be sufficient to register a company. No local physical office is required. Costa Rica’s registers are closed and publicly unavailable.
- Opening an account with a local bank in Costa Rica: given that Costa Rica is offshore, there is a solution that will allow you to open a local bank account (dollar, Costa Rican colon). It takes up to 10 working days from the date of registration of the company and receipt of the necessary documents.
However, we draw your attention to the fact that Costa Rica is blacklisted in the EU, which will make it much more difficult to serve European clients or work with European partners.
If you are seeking to incorporate a company in Costa Rica, reach out to SBSB Fintech Lawyers. With a track record dating back to 2013, our firm specializes in aiding FinTech and crypto initiatives. We are well-prepared to guide you through the process of preparing all essential documentation for the company incorporation. Our comprehensive legal support includes tailoring unique solutions for every client, tailored to the particularities of their business model.