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Corporate Identity  | |||
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The vast majority of expatriate property-holders establish corporations and handle property acquisition through the corporation set up. Costs to set up a corporation in Costa Rica are typically around $1000 and can take as little as one month or so to complete. This mechanism provides an avenue for the owners to obtain legal residency through "investor class" applications. The financial investment necessary to apply for residency in this manner is $200,000 in outright land purchase or improvements. A corporate identity provides a level of legal protection that is helpful for a wide range of bureaucratic obligations. A corporate entity dissolves the whole issue of nationality. A non-Costa Rican citizen does not have the same rights as a Costa Rican citizen. However, a corporate entity is blind to nationality and all enjoy the same level playing field. As an example of the advantage, a private expatriate non-resident citizen cannot sign up for a phone line, either a cell phone or a landline. However, for a corporate entity it is no problem doing this. And there are many other daily needs that are more easily accomplished through a corporation.
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