In his latest guide, iGaming consultant Ron Mendelson, Fast Offshore, outlines the essential legal requirements for starting a gaming company in Costa Rica.
Costa Rica has become an attractive destination for entrepreneurs looking to establish gaming companies due to its favorable regulations, low operational costs, and strategic location. However, setting up a gaming business in Costa Rica involves adhering to specific legal requirements and regulations.
1. Incorporation of a Costa Rican company
- Legal Entity Formation: The first step to starting a gaming company in Costa Rica is incorporating a local company, typically a Sociedad Anónima (S.A.) or a Sociedad de Responsabilidad Limitada (S.R.L.). These entities offer limited liability protection to shareholders and are the most common structures for foreign entrepreneurs.
- Minimum Share Capital: Costa Rican law does not mandate a minimum share capital requirement for these entities, making it relatively easy to set up a company.
- Resident Agent Requirement: Your Costa Rican company must appoint a local resident agent, usually a lawyer, to act as a legal representative and handle any legal matters.
2. Corporate governance and structure
- Board of Directors: For an S.A., you must appoint a board of directors consisting of at least three members: a president, a secretary, and a treasurer. The same person cannot hold more than one of these positions.
- Resident Requirements: At least one of the directors must be a resident of Costa Rica, although it is common practice to appoint a local nominee to fulfil this requirement.
- Shareholders: The company must have at least two shareholders. Shareholders can be individuals or corporate entities, and their nationality is not restricted.
Read the full article at
