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Really enjoy this site, great work Scott.
I want to set up a company in CR with a bank account. I need a lawyer/lawfirm to do this and take care of the annual maintenance, etc.. Anyone know a reputable place to go? Has anyone worked with Casa Canada (.com).? I would really like to do this but don’t know how from Canada. Any ideas would be appreciated. Thanks a bunch everyone. BobThat should be http://www.casacanada.org.
I don’t think it’s advisable to set up an S.A. remotely, particularly with regard to naming the officers. See the posting entitled “Starting a busines in Costa Rica”.
BTW, that site has a much more complete and accurate requirement list for setting up a business there.
Regarding contracting with an attorney for signing on your behalf, there are two types of Power of Attorney in Costa Rica. A “Poder Generalísimo” is a General Power of Attorney, and empowers the attorney to do ANYTHING on your behalf. That’s pretty broad. Then there’s a “Poder Especial” which only empowers the attorney to perform the specific acts embodied in the Power of Attorney. That’s probably what you’ll want to do.
But again, for the initial set up, don’t you think it’s worth the trip? I don’t know anything about Casa Canada, but:
1. You could probably fly there and back and start it with a less expensive attorney for less than what they would charge you.
2. They’re actually offering to name the corporate officers for you. Hmmm, maybe that’s a business I should get into…
I’d also like to hear if anyone has worked with them.
My wife and I used Romolo Pacheco crlexs@racsa.co.cr for our residency. He and his partner rent space at Casa Canada, so I dont know if they are affiliated or not, but he was very professional and was referred to us specifically for this. As far as setting up a corp. and general real estate needs, we use Sergio Solera ssloera@fayca.com. He is with the firm Facio y Canas. They also have website http://www.fayca.com. I’ve been told they are one of the most influential firms in CR. We’ve had a great experience each time we’ve used them. Hope this helps.
We, too, have used Romulo Pacheco for our residency work and some other matters. I would recommend him with no hesitation.
Whomever you have set up your corporation (S.A.) should name you and your wife as the two corporate officers who hold any power in the corporation. That’s the good news. You’ll be in charge.
The bad news is this: As best I can figure it out, when a corporation is formed the attorney forming it MUST issue stock, and the recipients of that stock MUST be present in person to sign for it. What we learned to our very great dismay was that, while Marcia and I were the President and Secretary of “our” two corporations, WE DIDN’T OWN THEM because we were not in Costa Rica to sign for the stock when it was issued! AND . . . The stockholders could have removed us as officers at any time, just as the stockholders of any other corporation can remove the officers.
Fortunately, we learned that the stockholders had all signed their stock over to us at the same time that they received it, so apparently no damage was done. Unfortunately, the attorney who formed the corporations failed to tell us about all this, and there was the risk that the transfer documents might have become lost or mislaid.
Also (and this is important) the transfer of the stock to us and all other corporate business must be correctly recorded in the corporation’s books or else it didn’t happen. Our original attorney told us that we didn’t need books, but Sr. Pacheco said we did and has gotten them for us. They’re special books which must first be blessed by the government, then annotated with whatever corporate business is transacted. Having an official set of books and maintaining them is absolutely essential to owning a corporation.
I have been very satisfied with a company here called Costa Rica Expertise. Not only with the cost of a IBC but with their ability to maintain the books and file the required paperwork annually.
The operative word here is, “no surprises”. Suggest you arrange to meet with principals in person when here.
Telephone # for CRE is 506-256-8585
web site is http://www.crexpertise.com
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