In 2013, Site Selection Magazine, an industry journal dedicated to business strategy and economic development, highlighted Costa Rica as one of the Top Ten “Best to Invest” countries in the world. For this reason, the administration of President Luis Guillermo Solis Rivera has been very busy in attracting foreign investment through the Costa Rican Investment Promotion Agency (Spanish initials: CINDE).

CINDE is a private, non-profit and apolitical (though government-sponsored) organization that provides investment services for free. During its 32 years, CINDE has attracted more than 250 high-tech companies to Costa Rica, including worldwide leaders such as: Intel, Procter and Gamble, Hospira, Baxter, St. Jude Medical, Western Union and many others. Unbeknownst to many foreign investors, CINDE makes the process of establishing a foreign-owned business in Costa Rica very easy (and for free). To this effect, CINDE recommends the following five steps:

1. Contact CINDE

CINDE’s professional team is ready to guide and assist you in every step so that establishing your business in Costa Rica can be a simple, efficient and seamless process. We can assist you in providing all the necessary information that might be key in your decision-making process. Our services are completely FREE.

2. Come see the country for yourself!

CINDE can assist in coordinating:

• Meetings with established companies in your industry
• Work sessions with Academia and Government authorities
• Meetings with potential business partners

3. Select your location

Costa Rica offers several industrial parks and business centers inside or outside the Greater Metropolitan Area.

4. Get your ID & operating permits

Register your company before the National Property Registry.

Obtain environmental permits from SETENA (The National Environmental Technical Secretary): environmental consultants are key partners in this step because this entity will only process applications filed by authorized consultants.

Attain the operational license (Municipal Permit): Our local governments (Municipalities) oversee all activities developed within their authority, hence all new operations require to receive an authorization to start operations

Building and construction or improvements: your business can either build a standalone facility or rent/purchase a facility in an industrial park. The location is a key step of the establishment process since the address of the company will be required for other permits.

Other permits such as social security, bank account, registration before immigration (fast track) are also required, among others.

5. Apply to the Free Trade Zone Regime

The Free Zone System is the mainstay of Costa Rica‘s export and investment promotion strategy. It is a set of incentives and benefits granted by the Costa Rican government to companies making new investments in the country and it provides tax incentives for services and manufacturing sector firms.

It is important to remember that CINDE is a government-sponsored entity, which makes it easier for potential investors to fast-track their business establishment process in Costa Rica. For more information, visit CINDE’s home on the Web. There’s also an office in New York City: 100 Park Avenue, 16^th Floor (212) 984-0631.