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Are there any advantages to purchasing an existing Sociedad Anonima as opposed to forming a new one? Some friends divorced and no longer want theirs. How would I go about finding out? We do not have an abogado on retainer as yet; who we use depends on whether we buy out our friends’ SA or form a new one. Thanks, Roz
Yes, an existing Sociedad Anonima may have liabilities or contingent liabilities against it, which may be difficult to determine. The liabilities follow the Sociedad Anonima, regardless of who owns the shares. Buyer beware.
For example if the corporation ever hired someone (even a maid) and did not pay the correct Social Security payments and that is eventually discovered, the corporation will be asked to pay that debt no matter how the signatories may have changed.
It is very difficult to know 100% that you have a clean corporation unless you form a new one of your own.
Scott Oliver – Founder
WeLoveCostaRica.com
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