Crypto license in Costa Rica

Costa Rica is increasingly known as a crypto-friendly jurisdiction with a welcoming attitude toward cryptocurrency businesses. The government “encourages international business and cryptocurrencies”. Notably, Costa Rica has no specific regulatory framework for high-risk industries (gambling, forex or crypto), so a standard corporate registration is sufficient to operate crypto services. In practice, entrepreneurs simply establish a local company (usually an LLC) and can immediately carry out crypto activities without applying for a special license. This makes Costa Rica one of the few countries where setting up a cryptocurrency company can be done quickly and inexpensively.

Legal Framework and Licensing Overview

Costa Rica does not have a dedicated cryptocurrency law or license. Instead, crypto businesses fall under general company and financial regulations. There is no formal “crypto license” required; crypto activities are treated like any other business line. In fact, the jurisdiction lacks a regulatory framework for high-risk industries, meaning that so long as a company is properly registered, it may offer crypto-related services under general commercial law. This absence of specific regulation provides flexibility, but also means there is no regulatory oversight unique to crypto – companies operate on the basis of standard corporate and tax rules.

Requirements to Set Up a Crypto Company

To start a crypto business in Costa Rica, you must incorporate a local entity and meet basic corporate requirements:

• Corporate Form: Establish a Costa Rican LLC (Sociedad de Responsabilidad Limitada, S.R.L.). This LLC is intended for international business and imposes no restrictions on business sectors, including crypto.
• Capital and Shareholders: There is no minimum share capital requirement. A single person can serve as both the sole shareholder and director. Foreign individuals or companies may be shareholders and directors; there is no requirement for Costa Rican nationals.
• Registered Agent and Address: A local registered agent and business address are mandatory. Typically a provider will supply an official address and agent service (included in the incorporation cost).
• Documentation: Standard incorporation documents will be prepared (e.g. corporate name choices, copies of passports, proof of address). These documents will be in Spanish (with the translation to English if requested).
• Filing Requirements: Within 20 days of registration, the company must file shareholder and beneficial-owner information with the Central Bank (a one-time requirement, fee ~€1,215). This finalizes the incorporation process and enables banking.

Once these steps are completed, the company is legally established and may commence crypto operations immediately.

Permitted Crypto Business Activities

Because Costa Rica does not restrict crypto by law, any lawful cryptocurrency-related activity is permitted under the company’s general business authorization. In practice, common allowed activities include:

• Crypto exchanges and trading platforms: Buying/selling or matching services.
• Wallet and custody services: Storing and managing digital assets for clients.
• Blockchain and fintech services: Consulting, development, and smart contract projects.
• Cryptocurrency mining or staking operations.
• Crypto payment gateways and merchant services.
• ICO/STO or token issuance services (as legal advisory or development).
• Other IT and fintech activities, since Costa Rica’s general license covers sectors like IT and fintech without special permits.

In short, an LLC in Costa Rica can operate a crypto exchange, wallet service, brokerage, or similar platform exactly like a tech company – no crypto-specific license is needed.

Key Features of Costa Rican Companies

Costa Rican companies have several attractive features for crypto entrepreneurs:

• Taxation: Costa Rica uses a territorial tax system. Income generated outside Costa Rica is not taxed locally. In effect, crypto gains earned from foreign clients incur 0% corporate tax in Costa Rica.
• Corporate Structure: The standard entity is an LLC (S.R.L.). There is no minimum capital. Shareholders and directors can be the same single person. This structure is straightforward for entrepreneurs.
• Reporting: There are no statutory audit or financial reporting requirements for LLCs. A company only needs to file a basic annual declaration (e.g. a no-income statement if applicable) and the Central Bank filing, but no full audited accounts or public filings.
• Privacy: Corporate registers in Costa Rica are closed and not publicly accessible. Ownership information is confidential (filed only with authorities). This provides privacy akin to an offshore company.
• EU Compliance: Costa Rica is no longer blacklisted by the EU. Serving European customers from a Costa Rican company is simpler now that it is considered compliant with EU anti-money laundering standards.
• Local Banking: It is possible to open a Costa Rican bank account in USD or CRC with proper setup and support. Banks require some local formalities, but providers offer legal assistance for account opening if needed.

These features make Costa Rica a relatively easy and low-cost jurisdiction for crypto enterprises focused on international markets.

Step-by-Step Registration Process

The typical incorporation process follows these stages:

1. Document Preparation (1–2 days): Collect and notarize required documents (passport copies, power of attorney, etc.).
2. Company Registration (up to 5 business days): File the incorporation paperwork with the Costa Rican authorities. Once approved, the company is officially formed.
3. Apostille and Documentation (up to 15 business days): Obtain apostilles (and English translations if needed) for the Articles of Incorporation and related corporate documents.
4. Central Bank Filing (within 20 days): Submit shareholder/beneficial owner information to the Central Bank (as required by law).
5. Optional – Bank Account Setup (~10 business days): Arrange for a local bank account. Legal and admin support is typically provided, taking up to 10 days after company registration.
6. Optional – Office Rental (~10 business days): If local presence is required, signing a lease and setting up a local office can take about 10 additional days.

In total, a basic incorporation package can be completed in roughly 4 weeks. Including bank account setup (6 weeks) or also leasing an office (8 weeks) will add 2–4 weeks to the timeline.