Auxadi Costa Rica
One of Latin America’s most favoured foreign investment destinations and the oldest democracy in Central America, Costa Rica is widely recognised for the quality of its workforce, its economic sustainability and dynamic business sector.
Costa Rica is the gate that connects the USA and LATAM. Its enviable location, on both Caribbean and Pacific coasts, provides easy access to high-quality raw materials – and Costa Rica has an agile transportation and logistics system, making it a perfect location for manufacturing. Eco-tourism has also been attracting increasing amounts of foreign investment, thanks to Costa Rica’s responsible environmental policies.
An outward-oriented country, it continues to strengthen relations with its immediate neighbours and the United States, as well as fostering trade links with China. It’s main economic areas are manufacturing, wholesale, finance, insurance, agriculture and professional services.
In May 2021, Costa Rica celebrated becoming the 38th member of the Organisation for Economic Co-operation and Development (OECD).
Costa Rica
One of Latin America’s most favoured foreign investment destinations and the oldest democracy in Central America, Costa Rica is widely recognised for the quality of its workforce, its economic sustainability and dynamic business sector.
Costa Rica is the gate that connects the USA and LATAM. Its enviable location, on both Caribbean and Pacific coasts, provides easy access to high-quality raw materials – and Costa Rica has an agile transportation and logistics system, making it a perfect location for manufacturing. Eco-tourism has also been attracting increasing amounts of foreign investment, thanks to Costa Rica’s responsible environmental policies.
An outward-oriented country, it continues to strengthen relations with its immediate neighbours and the United States, as well as fostering trade links with China. It’s main economic areas are manufacturing, wholesale, finance, insurance, agriculture and professional services.
In May 2021, Costa Rica celebrated becoming the 38th member of the Organisation for Economic Co-operation and Development (OECD).
Why Auxadi is trusted as an expert outsourcing provider in Costa Rica
Auxadi is your ideal partner in Costa Rica to help streamline your back-office operations. Our team on the ground can offer you a full business process outsourcing solution; from corporate accounting, tax compliance through to payroll services.
Costa Rica’s government actively encourages foreign investment and the country offers four investment incentive programs: the Free Trade Zone Regime, an inward-processing regime, a duty drawback procedure, and the tourism development incentives regime. Its dynamic investment promotion board (CINDE) is recognised as one of LATAM’s most effective.
Launching a company in Costa Rica will take around 23 days, which is less than the regional average.
Through a single-point-of-contact delivery model and our leading MySPV technology platform, we offer an unrivalled solution that can help you grow your business.
International Accounting, Tax and Payroll in 50 countries
Corporations
We can help you with your international expansion and we serve more than 600 clients across many different sections. We become an extension of your finance departments abroad and you can access the accounting information of all your international subsidiaries through a single portal, customised to meet your needs.
Funds
With nearly $7 billion of assets under management, we can take of the corporate management and SPV administration of your investment structures. Whether you’re creating a holding structure in Luxembourg or setting up a SPV in Europe and Latin America, we offer accounting, reporting, tax compliance and directorship solutions to help make your life easier.
Our services
Accounting Specialists
Costa Rica works in IFRS, but all documentation must be submitted in Spanish. Costa Rican companies are required to keep accounting records of all transactions going back 10 years. Though there’s no obligation to annually file these, they’ll be requested if your firm is audited.
Keeping on top of these local accounting regimes can be challenging. We help global corporations and fund managers with all their corporate accounting requirements. Using our bespoke and best-in-class technology platform, MySPV, you can access and control your accounting data, across multiple countries and multiple currencies.
Our accounting experts in Costa Rica can help manage:
- Accounting and bookkeeping
- Management accounting
- Statutory accounting
- Official Books and Annual Accounts
- Cash management (including payments)
- Reporting
- Consolidation of finanical statements
- Bank account tracking
- Treasury and cash flow forecasts
- Audit assistance
Tax Specialists
There are more than 100 taxes in Costa Rica, but admin time for them is around 151 hours, thanks to electronic filing and payment systems in place for corporate income tax and VAT. Corporate income tax is scaled based on annual revenue and peaks at 30%, while VAT is 13%, and companies can deduct all costs and expenses necessary to generate taxable income from their gross income.
Changing tax regimes are often more challenging than any other component of international business and it’s imperative to take into consideration how local tax regimes interact on the global stage.
We have local tax experts on the ground in Costa Rica to ensure you’re adhering to the various tax requirements. Using our purpose-built automation technology, we help ensure you and your operations remain tax compliant.
- Tax compliance – covering multinational, federal, state, and municipal taxes
- Official Books and Annual Accounts
- Assistance with tax inspections and audits
- Tax reviews and claims
- Tax compliance – covering multinational, federal, state, and municipal taxes
- Official Books and Annual Accounts
- Assistance with tax inspections and audits
- Tax reviews and claims
Payroll Specialists
International payroll can be a minefield of regional tax codes, employment laws, benefits, bonuses and social security requirements dictated at multiple levels. For example, Costa Rica operates a six-day working week and requires a “thirteenth month” bonus payment of 8.33% of each employee’s monthly wage.
Costa Rica’s labour laws require written employment agreements, but the lack of a written contract does not significantly affect either party, or diminish rights and obligations. Costa Rica has specific formulae for shift work, vacation days, sick leave, and maternity leave, along with detailed regulations regarding termination and severance pay. Costa Rica has a mandatory employer contribution of 26.5% of each employees’ wage.
Auxadi’s experienced and knowledgeable payroll specialists in Costa Rica can help make your life easier.
Monitor and manage your international subsidiaries with our MultiCountry online platform
Access our online platform that provides you with a global and harmonized view of the accounting of your international subsidiaries, with drill down functionality to check support documentation, such as: invoices, outstanding creditors, approve payment orders, manage the payroll processing cycle and so much more. Request a demo to see how our technology can help you.
Get access to Auxadi corporate materials and technical guides to know more about us.
Meet the team
Manrique Blen
Director HUB Costa Rica
Auxadi in Costa Rica
Oficentro ejecutivo la Sabana,
Edificio 4, Piso 3 – local 6.
San José, San José,
Mata Redonda (La Sabana)
Tel: + 506 4000 5243
Count on our professional and extensive experience in the Costa Rican market, for your investments in Costa Rica and elsewhere in Europe, the United States and Latin America.