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Costa Rica: Registry regarding transparency and ultimate beneficiaries

Costa Rica: Registry regarding ultimate beneficiaries

A resolution (N° DGT-ICD-R-19-2020) issued in August 2020 provides guidance concerning the registry of ultimate beneficiaries.

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The guidance provides, among other items, a period of time for reporting the legal identity of the ultimate beneficiary and also when the interest of any shareholder equals or exceeds 15%. Legal entities that between 1 January 2020 and 31 March 2021 are assigned an identification number in the national registry are directed to complete their filings in April 2021. Other rules apply for entities that have not filed their reports for the 2019 period.

Read an August 2020 report (Spanish and English) [PDF 57 KB] prepared by the KPMG member firm in Costa Rica

A second topic discussed in the KPMG report concerns virtual or electronic meetings of corporate boards of directors.

Read a follow-up August 2020 report (Spanish and English) [PDF 164 KB] prepared by the KPMG member firm in Costa Rica

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