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PP Summary on Doing Business In Cr 20090701


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Summary Facts About Doing Business in Costa Rica.

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PP Summary on Doing Business In Cr 20090701

  1. 1. International Lawyers Network San Francisco June 2009 Doing Business in Costa Rica by Cordero & Cordero Abogados
  2. 2. |Introduction to Costa Rica • Geography: located in Central America, borders Nicaragua to the North, Panama to the South East, Caribbean Sea to the East and the Pacific Ocean to the West. • Area: Total of 51,100 sq km (similar to West Virginia); has a total of 1,290 kilometers of coastline • 7 provinces. San José located in the Central Valley is the political and economic capital
  3. 3. |Introduction to Costa Rica • Population: 4.4 million with a literacy rate of 95% of the population; • Labor Force: 2.1 million; • Economy depends on tourism, electronic and medical exports, agriculture, highly diversified exports with industries such as: microprocessors, food processing, medical equipment, textiles, clothing, construction materials, fertilizers, plastic products, etc; • Strong social safety net; • Unemployment Rate: 4.6% • Highly stable economy and political system
  4. 4. |Introduction to Costa Rica • Costa Rica is a Democratic Republic comprised of three distinctive and separate powers which are: – Legislative (Unicameral Congress) – Executive (President + Government Council) – Judicial (Supreme Court of Justice + Lower Courts) • Oldest Democracy in Latin America • Abolished its Armed Forces (Military) in 1949
  5. 5. |Doing Business in Costa Rica • Costa Rica’s Trade Policy – Since 1986, Costa Rica began a process of insertion into the international markets. – Its foreign trade policy focused to an opening of its market to the world economy through an internal diversification and modernization process – Existing Free Trade Agreements with US and Central America and DR, Canada, Chile, Panamá, México, etc. Undergoing negotiations with China, EU (about to begin talks with Singapore) – Bilateral Investment Treaties with: Germany, Argentina, Canada, Chile, China, Korea, Spain, France, Great Britain, Paraguay, and others.
  6. 6. |Doing Business in Costa Rica Interesting Facts about Costa Rica – No limitations on capital funds transfers associated with an investment; – No restrictions imposed on re-investments or on repatriation of earnings; royalties or capital. – No requirement to register investments with any of the government authorities; – Foreing Individuals have the same constitutional rights as nationals – No restriction to foreing ownership of real estate in Costa Rica – Many fortune 500 companies have recently established operations in Costa Rica due to its stability, high education level and bilingual labor force. Some of these companies are: • Intel, HP, Boston Scientific, Abbot Laboratories, Baxter, IBM, Sykes, Western Union, Proctor Gamble, Hospira, Continental, Emerson, Allergan, Trimport, etc
  7. 7. |Doing Business in Costa Rica Due to its political stability, Costa Rica has been able to maintain throughout the years strong political and economical ties with the major world economies. Latest World Bank survey for Global Governance ranks CR in 1st place within Latin America for Political Stability.
  8. 8. •Corporate Law •Mergers & Acquisitions •Banking Law & Financial Regulations •Insurance Law •Real Estate & Property Law •Project Finance & Foreign Investment •Civil Litigation •Intellectual Property •Labor & Immigration •Information Technologies & Telecomm •Others
  9. 9. Thank you!