The Ministry of Treasury of Costa Rica modified the deadline to submit the declaration of the Registry of Transparency and Final Beneficiaries (RTBF) corresponding to the period 2024, opening the possibility of submitting it from October 1 to October 31.
The Transparency and Final Beneficiaries Registry corresponds to an obligation that every Costa Rican company must report in the online system developed by the Central Bank of Costa Rica, information regarding its participants (shareholders, quotaholders) and final beneficial owner, as well as other information. relevant to the corporate structure.
The information reported is not publicly accessible and to include the data, the legal representative of the company must have a Costa Rican electronic signature and specific powers of attorney to do so.
Additionally, all the information on the shareholding structure must be available, down to the last natural person, which is not always easy and, in many cases, will entail an in-depth analysis and review of the corporate scheme.
Failure to submit the RTBF Declaration will imply that the National Registry Office will not be able to issue certifications of legal status or registration of documents in favour of the company and additionally a fine of 2% of the gross income of the entity for the fiscal period prior to the one in which the violation occurred, with a minimum of 3 and a maximum of 100 base salaries.
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All information contained in this publication is up to date on 2024. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.