Resources

Banking Requirements for Expats

Required Documents

Account Types

Key Tax Dates in Costa Rica

March 15

Corporate Income Tax (D-101)

Applies To: Corporations

March 15

Individual Income Tax

Applies To: Self-employed

Monthly

Sales Tax (IVA)

Applies To: Registered businesses

Quarterly

Payroll Taxes

Applies To: Employers

Dec 31

Financial Statements

Applies To: All corporations

Key Compliance Notes:

Frequently Asked Questions

Banking

Can I open a bank account in Costa Rica as a tourist?

Yes, but requirements vary by bank. Some require residency or larger deposits. We guide you to the best options for your situation.

Which banks work best for U.S. expats?

BAC Credomatic, Banco Nacional, and Scotiabank are popular choices. We compare them based on your needs.

Can I maintain U.S. dollar accounts?

Yes, most major banks offer both USD and colón accounts.

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Mortgages

Can foreigners get mortgages in Costa Rica?

Yes. We help with pre-qualification and negotiate with multiple banks on your behalf.

What are typical mortgage terms?

Usually 10-30 years, with down payments from 20-50% depending on your profile and property type.

How long does the process take?

Typically 60-90 days from application to closing. We streamline this through pre-underwriting.

Tax & Accounting

Do I need to file taxes in Costa Rica as a tourist?

Only if you generate income here (rental income, business operations, etc.).

What is the corporate tax rate?

30% on net income for corporations. We help structure your operations for efficiency.

Do I still file U.S. taxes as an expat?

Yes. U.S. citizens must file annual returns regardless of location. We coordinate with your U.S. CPA.

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General

How long does LLC formation take?

Typically 2-4 weeks including DGT registration and bank setup.

Do you work remotely?

Absolutely. Most consultations are virtual and we handle documentation electronically.

Ready to Make Costa Rica Home?

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Based in Costa Rica, Serving Expats Worldwide

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