Estos cambios claramente harán que el proceso de solicitud de residencia en Costa Rica sea más agil, lo que acarreará a su vez reubicaciones más expeditas.

Además nos place reportar que este mes se han dado avances adicionales que afectan la inmigración a Costa Rica, puesto que las Autoridades Migratorias (Dirección General de Migración y Extranjería) están ahora permitiendo aplicaciones de residencia en base a ser dueño de propiedades en el país, sin tener que demostrar un negocio productivo generado por dicha inversión inmobiliaria. Si bien las reglas de aplicación de este nuevo régimen no son todavía claras en su totalidad, estamos seguros que esta residencia basada en ser propietario de tierra en el país será una buena opción para individuos que no puedan calificar bajo los regímenes tradicionalmente usados de residente rentista y residente pensionado, los cuales, sin embargo, continúan siendo alternativas también recomendadas.

Para mayor información en cuanto a regímenes de residencia y alternativas recomendadas, así como acerca del sistema de la apostilla, le invitamos a accesar nuestros artículos detallados en este sitio.

These changes will certainly make the Costa Rican residency application process more agile, so a more expeditious relocation will be permitted.

Further breakthroughs affecting immigration to Costa Rica can be reported this month, since the Immigration Authorities (Dirección General de Migración y Extranjería) are now allowing applications for residency under the basis of owning property in the country, without having to demonstrate a productive business generating from such investment. Although the rules of application for this new regime are not all clear yet, we are certain that this residency based on owning land in Costa Rica will become a good option for individuals not being able to qualify under the traditionally used resident annuitant (“residente rentista”) and resident pensioner (“residente pensionado”) regimes, which, however, continue to be well recommended alternatives as well.

For further information on applicable residency regimes and alternatives, as well as on the apostille system, access our detailed articles in this web site.

For companies that are not active before the tax authorities, the payment will be approximately US$150.00 per year (and for 2011, the pro-rata amount for remaining months until the end of the year). If the company is active with the tax authorities, the amount is approximately US$300.00 per year (also pro-rata since April, for 2012).  The companies’ legal representatives (individuals that have registered power of attorney for them) are jointly liable for these payments.

Apparently the tax authorities are interpreting that companies are considered to be active in their data base, and therefore, subject to pay the higher tax, solely by having filed income statements (even in zero).  In such cases, a process of de-activation must be followed, usually requiring, at least, the filing of two D140 forms.

In cases of companies that have no assets and whose owners want to terminate them and not to be subject to the new tax or to be personally liable for it, a dissolution process at the Public Register, which requires a shareholders meeting and following several formal requirements, is recommended.

More specific rules for the payment of the new tax are to be expected in the following weeks, which will also be covered in the regulations to this law, still pending to be issued and public.

Mergers & Acquisitions

Reproduced with permission from Law Business Research. This article was first published in LATIN LAWYER Reference – Mergers & Acquisition 2011 (Contributing Editor Paul Schnell – Skadden, Arps, Slate, Meagher & Flom LLP). For further information please visit http://www.latinlawyer.com/reference.php.