Crypto license in Costa Rica

Costa Rica stands out as an attractive destination for registering a crypto company. Its favorable economic environment, advanced technological infrastructure, and business-friendly legislative framework provide an ideal setting for successfully launching cryptocurrency projects. Currently, there are no specific regulations for cryptocurrencies in Costa Rica, meaning that registering a standard company is enough to get your project off the ground. This unique advantage makes Costa Rica a true haven for crypto businesses.

Advantages of Registering a Crypto business in Costa Rica

Legality and loyalty — absence of a regulatory framework regarding cryptocurrency activities. The Costa Rican government encourages international business and cryptocurrency.
Prospects — Costa Rica offers great potential for a simple start and subsequent expansion of the business.
Efficiency — business registration entails a quick and inexpensive project start.
Favorable taxation — income generated outside of Costa Rica is not subject to taxes.

Requirements for a Crypto Company in Costa Rica

To launch a crypto business in Costa Rica, the company must meet the following requirements:

No requirements for residency of company founders.
Minimum requirements for registered capital. The jurisdiction does not impose strict requirements on the size of registered capital, simplifying the company registration process.
Permission to engage in various activities without a license. The company can engage in various activities, including IT, marketing, gambling, forex, and cryptocurrencies, without the need for special licenses.
Territorial tax principle. Income generated outside of Costa Rica is not subject to taxes, reducing the tax burden for the company.
No requirements for auditing and financial reporting. Crypto companies in Costa Rica are not required to undergo audits or provide financial reports.

However, it is important to remember some limitations and aspects related to opening a crypto company in Costa Rica:

Restrictions when working with European clients. Costa Rica is listed on the European Union’s blacklists, which may hinder servicing European clients or working with European partners.
Inaccessibility of company registries. Company registries in Costa Rica are closed and not publicly available.
Considering Costa Rica’s offshore status, it is possible to open a local Costa Rican account in dollars or Costa Rican colones.

Stages and Timeframes for Registering a Crypto Company in Costa Rica

The total registration period for a crypto company in Costa Rica is 6 weeks and consists of the following stages:

Preparation of documents for company registration. This process typically takes about 2 weeks, depending on the readiness of the documents provided by the founders.
Company registration in Costa Rica, specifying the required activities — up to 5 business days from the receipt of the necessary documents.
Opening an account in a local bank in Costa Rica — up to 10 business days from the company registration (optional).
Issuance of corporate apostilled documents — up to 15 business days from the company registration.