Business in Costa Rica?

Question

I have been considering incorporating in Costa Rica and creating employment. Though I have much info for corporating and economic and enviromental conditions that exist. I would like to know from a non bias source (your self). If you stayed or lived there for more than 2 yrs. Your opinion on govn. the value of growth in the view of natives. Any other info you could provide me or contacts to speak with.

Answer 1

I'm a Costa Rican, and I know that some investors complain about all the requirements and obligations towards employees. For example, in Costa Rica all the employees on any level are paid a 13th salary, called the aguinaldo, in December (meaning they make twice as much money in December). Also, if you fire somebody without just cause, you have to pay them lots of money (called prestaciones). You also have to pay 9% of the basic pension plan with the Seguro Social (Social Security) for every employee.
I have heard that many investors go somewhere else because of these financial issues.
On the other hand, they say that Costa Rican employees are the most educated ones in Central America. That's why so many American companies are based there.

Answer 2

Here is a tip -

No matter what the nature of your business is going to be - do not trust anyone that is going work for you there.

And get a real good suitable Attorney as soon as you can.

I could have been a millionaire by now down there but the man I picked as a partner blew all of the money on drugs!

Good Luck!

Answer 3

For some basic legal information concerning CR, go to costaricalaw.com. For the ease and difficulty of doing business there in comparison to other LA countries go to the World Bank's site doingbusiness.org.