Business

Fiscal Plan Costa Rica Taxes on Bank Transactions? This is part of the Costa Rican Government’s Proposal to the IMF

The Government of Costa Rica presented this Thursday to the Legislative Assembly the proposal (Plan to overcome the fiscal impact of the pandemic) to negotiate with the International Monetary Fund for a new loan of $1.750 Billion. “We need to maintain economic stability and activate employment to improve the situation in the country generated by COVID-19. If we do not act, the risk is in the hi...

Costa Rica Concentrix Jobs Concentrix to Open More than 1,300 Positions in Costa Rica

Concentrix, a Customer Experience (CX) solutions company is working to increase its presence in Costa Rica with over 1,300 new jobs at various locations. With these new positions, which will be offered to start this month, Concentrix hopes to strengthen local communities through a variety of new job opportunities for skilled workers throughout the region. “Concentrix Costa Rica gives you mo...

Costa Rican Coffee Costa Rica is a Competitive World Leader in Agricultural Exports

Costa Rica's not just about rainforests and beautiful beaches. It is also a competitive world leader in agricultural exports. The country has plenty of experience in the food industry, coupled with innovative growing processes, superior soil quality, and a year-round growing season, have resulted in a cornucopia of high-demand crops sought worldwide. The country's coffee industry is known acros...

Costa Rica Jobs SYKES to Expand Operations to Liberia, Expects to Hire 600 People in 18 Months

SYKES recently announced that it will open its new headquarters in Solarium Park, Liberia, and will begin hiring the first 100 permanent positions during November and December. The company estimates it will hire a total of 600 people within 18 months, to work at their new headquarters. Bilingual applicants will be considered for positions in financial and telecommunications operations, while th...

Costa Rica, COVID 19, Economy , Costa Rica Economic Reality Check as They Request a 1.75 Billion Dollar Loan From IMF

Costa Rica’s Central Bank announced on Wednesday that the International Monetary Fund (IMF) has approved $508 Million in emergency financing for Costa Rica to help alleviate the impact of the coronavirus, COVID-19 pandemic. The five-year loan was granted through the IMF’s Rapid Financing Instrument, and carries a spread of 150 basis points over the IMF’s special drawing rights (SDRs), equal to an ...

Costa Rica Coronavirus, Restrictions, Updated Information Costa Rican Government Caves Under Pressure and Revises Heavy Economic Restrictions

Saturday August 8th Costa Rica has registered 721 new Covid-19 cases for a total 22,802 confirmed patients out of which 7,589 have already recovered. 360 people are hospitalized, 80 of them in the intensive care unit. 228 deaths are reported in relation to the pandemic in the country. The government announced adjustments on the restrictions and sanitary measures that had already been announc...

Why Costa Rica is a Strategic Destination for Supply Chain Rethinking

The COVID-19 pandemic has promoted to rethink different processes in the "new reality". Transcending sectors, the novel coronavirus has touched on – and fueled – one of the key points in innovation: the adaption to change, because those who do not will suffer even greater consequences. Industries that have led the charge –the process to rethink and analyze adjustments, given the situation gener...

Costa Rica, Struggling economy, COVID-19 How Will Costa Rica Recover Economically From Covid-19

How will Costa Rica recover economically from Covid-19? That's a great question with many variables and unknowns. Two things are clear about COVID-19 in Costa Rica: Cases continue to increase, and it will be an uphill battle to recover the economy. Currently there have been 12,361 confirmed cases of COVID since it arrived on March 6 (via two American tourists), and 71 people have sadly lost th...

Costa Rica Jobs Costa Rica Jobs: Teleperformance to Hire 335 Collaborators

Teleperformance, a multinational company that operates in the services sector, will hire 335 people in the next three months, due to business expansion in Costa Rica. Positions to be hired are related to bilingual and trilingual customer service in English, French, German, and Portuguese; technical support positions will also be available. In addition to employment, Teleperformance offers it...

Bac, Credomatic Costa Rica, Private Bank BAC Credomatic Bank in Costa Rica Closes Various Services to Avoid Usary Penalties

BAC Credomatic, Costa Rica’s largest private bank, announced this week that it is closing eleven of its outlets, canceling 187,000 customer credit cards, and laying off 373 of its employees. Many of BAC’s loyal clients have been contacted and told their credit cards will be cancelled within 60 days. Several other changes will be implemented in the coming months, apparently all due to the new law, ...

Costa Rica Sanitary Restrictions More Businesses Will be Able to Reopen in Costa Rica on the Weekends

UPDATED 06/19/20 The Costa Rican Government has SUSPENDED Phase 3 of the Economic reopening due to major spike in cases. The Ministry of Health confirmed this Thursday that as scheduled more businesses will be able to open doors again during the weekend as long as they comply with the sanitary guidelines given in each case. The country enters the third phase of reopening commerce which will...

Costa Rica Jobs SYKES Announces 450 Permanent Positions in Costa Rica

Starting this month, SYKES will offer 450 permanent technical support positions to applicants with advanced, intermediate, or basic knowledge of Cisco networks, operating systems, and programming. The company will be hiring from June through September. During the health crisis due to COVID-19, most positions will be work from home. In addition to technological knowledge, applicants must demonst...

Costa Rica Coursera Coursera and Costa Rica Will Train 50,000 People to Confront the COVID-19 Crisis

Coursera, an online education platform, will team up with Costa Rica over the next 6 months to train 50,000 people in the strategic and technical skills required for Industry 4.0. This initiative is one part of a reskilling and retooling strategy that Costa Rica currently has underway, which defines three main areas for talent development: career management, soft skills, and technical skills. T...

Olive Garden Costa Rica Olive Garden Will Open Doors in Costa Rica in September

AR Holdings, member of Promerica Group had already announced in November 2019 their intentions of bringing to Costa Rica the Olive Garden restaurant franchise, the biggest Italian food chain in the United States where it has 850 locations. Despite the Covid-19 pandemic which has impacted many industries, one of them being restaurants, the plans continue except that instead of opening doors in ...

PriceSmart Costa Rica New PriceSmart to Open Doors in Liberia, Guanacaste

PriceSmart announced that it plans to move forward with opening what will be its 46th warehouse club on June 17, 2020 in Liberia, Costa Rica. Sherry S. Bahrambeygui, Chief Executive Officer, commented, "In March 2020, when we first began to appreciate the uncertainties created by the COVID-19 pandemic, we temporarily suspended significant capital expenditures, including additional club developm...

Costa Rica Economy Its Started: Moody’s Investor Service Downgrades Costa Rica From Stable to Negative

Moody's Investors Service, ("Moody's") has today changed the outlook on the Government of Costa Rica's ratings to negative from stable. Concurrently, Moody's has affirmed Costa Rica's B2 long-term issuer and senior unsecured bond ratings. The negative outlook reflects Costa Rica's increased funding risks due to higher borrowing requirements resulting from pandemic-related economic and fiscal sh...

Roche Costa Rica Roche Will Double its Operations in Costa Rica

The Swiss-based Pharmaceutical company Roche –a leader in personalized healthcare and the world’s largest biotech company– announced today that it will double the size of its Roche Services & Solutions operations for the Americas, located in San José, Costa Rica. The company will hire 370 new employees throughout 2020 and will have over 700 employees by the end of this year. Roche establish...

Costa Rica Economy Covid19 Costa Rica Will Announce Plan to Reopen Economic Activities May 11

The Government of Costa Rica will announce on Monday, May 11, the plan to gradually re-engage  economic activities and begin the road back to “normalcy”. “We will reopen economic activities subject to a strict surveillance of sanitary protocols. We will extend the vehicular restriction first. We will open for national tourism, hotels, national parks, commerce, restaurants, theaters and movie th...

Costa Rica Covid19 Guidelines Costa Rican Ministry of Health Gives New Guidelines for Businesses Resuming Operations

Through May 4th the number of patients positive with Covid-19 in Costa Rica was of 742 according to the update provided by the Ministry of Health. 339 people are now recovered, however, 17 remain hospitalized and 5 of them in the intensive care unit. The Minister of Health, Daniel Salas, insisted that the population cannot let the guard down, even though the curve of transmissions has been s...

Costa Rica Jobs Virtual Platform Provides Information on Current Job Offerings Available in Costa Rica

In an effort to combat the repercussions generated in the labor sector due to the COVID-19 health emergency, the Costa Rican Investment Promotion Agency (CINDE) has designed a virtual platform to bring together all current job offerings available at multinational companies. To date, more than 950 positions are available. This initiative is part of a joint agreement, since February 2019, betwee...

Corporation, Costa Rica, Shareholder, legal books Stockholders and Board of Directors Meetings can now Happen Virtually in Costa Rica

All corporations and limited liability companies in Costa Rica are required to have legal books. Corporations or SAs are required to have three books as follows: 1. General Assembly to keep the minutes of shareholder meetings, including all decisions to amend the original articles of incorporation by changing the corporate structure, legal address, raising capital stock, granting powers of attorne...

Best Pizza in Costa Rica Sbarro: The “Original New York Pizza” Comes to Costa Rica

Family-owned franchisee brings the “Original New York Pizza” to Costa Rica, opens two stores. San José, Costa Rica. The Sbarro brand, located in more than 28 countries all around world, opened its first two stores in the country October & December, respectively, of 2019. The “Original New York Pizza” brings the flavor of a globally known brand for New York Style XL slices, along with an Ita...

Costa Rica Covid19 New Restrictions in Costa Rica Will be in Place April 13-30

Costa Rica has 577 cases of Covid-19 confirmed as of Saturday March 11th, the government has announced it will be placing additional restrictions on vehicular traffic until April 30. Beginning on April 13, there will be a complete nighttime restriction from 7 p.m. to 5 a.m. every day. When it comes to daytime restrictions, during the weekdays the restriction will be from 5 a.m. and 7 p.m., v...

The Costa Rica Star Offers FREE Advertising to Businesses in Costa Rica Affected by COVID-19

PRESS RELEASE : April 8th 2020, San Jose Costa Rica  Unfortunately the current COVID-19 pandemic continues to take many precious lives. The resulting economic fallout is negatively impacting businesses worldwide – in a truly unprecedented way. As the largest English newspaper in Costa Rica, The Costa Rica Star has long been an industry leader in providing reliable, quality news and informati...

Costa Rica Labow Law COVID-19 Changes Labor Laws Between Employers and Employees in Costa Rica

The infamous COVID-19 has caused not only a global health emergency but has also had a severe and negative impact on the economy. To mitigate the impact on the finances of employers, two regulations were approved over the recent days that are unprecedented in our country. The first regulation is called Temporary Suspension of the Employment Contract and is issued by the Ministry of Labor. The seco...

VIDEO: Costa Rican Tourism, Postpone Don’t Cancel

Video Credit and thanks to Adam Baker and Namu Travel Group. ***Repost from the President of Costa Rica*** We all know that small businesses, restaurants, workers in the service industry, etc. have been affected economically by covid-19. The entire travel industry; airlines, hotels, tour companies, travel agencies, entire countries, and everyone in between were immediately impacted by cov...

Work from Home Law Costa Rica Costa Rican Congress Approves Reduction of Workday in Response to Covid-19

In the first debate Costa Rican deputies approved the bill presented by the Ministry of Work that will allow employers whose businesses are suffering a substantial reduction of their income to bring down their employees’ workdays by as much as 50%. This is a temporary measure in response to the state of emergency declared by the Costa Rican Government due to the crisis caused by Covid-19. Th...

Costa Rica Economy Coronavirus Restaurants and Hotels in Costa Rica Suffer the Consequences of Covid19

The effects of the coronavirus on the economy of the country and worldwide are inevitable and began several days back, in Costa Rica, it is obviously the tourism sector the most affected, with borders closed as of today and for almost one month in the best case scenario the economic landscape is certainly not looking good for the hundreds of thousands of people that depend on this industry and for...

What to do if the Government Dissolves Your Corporation in Costa Rica

In 2012 law #9024 named 'Impuesto a las Personas Juridicas" or "Tax on Corporations" came into effect. It was an annual tax on all corporations registered at National Registry based on the Code of Commerce such as SAs and LLCs plus all of those branches of foreigner corporations that obtained a corporate ID number for their Costa Rican divisions. It was in effect until 2015. It contained provision...

Costa Rica Job Fair Job Fair in Costa Rica Aims to Fill 3,000 Positions

The 15th edition of the CINDE Job Fair will search for talent from March 6th to 8th in the Costa Rican Convention Center, in Heredia. Organized by the Costa Rican Investment Promotion Agency (CINDE), the fair will include more than 50 leading companies in services, advanced manufacturing, and academia. They will offer more than 3,000 positions available for the first semester of 20020. Command...

Costa Rica ICU medical ICU Medical Invests US$13 Million in Costa Rican Operations

The worldwide leader in the development, manufacture, and sale of innovative medical devices used in infusion therapy and critical care applications, ICU Medical, Inc., announced a US$13,2 million investment at its Costa Rica manufacturing facility. The operations were visited by the President of Costa Rica, Carlos Alvarado Quesada, and other national dignitaries marking the company’s 20th anniver...

Costa Rica Jobs Teradyne Announces New Investments in Costa Rica

Teradyne announced that it will invest over $20 million in a new facility in Coyol Free Zone, Alajuela, Costa Rica. The new 11,000 square meter facility brings together over 350 employees who are now located in multiple offices in the area. The project will begin this January and is expected to be completed in 2021. The Minister of Foreign Trade, Dyalá Jiménez, said: “We start this year with ve...

Costa Rica Investment Costa Rica is the Third Best Investment Destination in the World

In the ranking of “The Top Best Countries to Invest In” 2019 Costa Rica took the third position in the world only after Uruguay and Saudi Arabia. This study is updated once a year by U.S. News & World Report with the backing of Wharton school of the University of Pennsylvania and BAV Group. It has the specific analysis on investment topics that gathers answers given by 20,300 people from 36 cou...

Applebees Costa Rica Applebee’s Closes Operations in Costa Rica

Applebee’s closed its operations in Costa Rica, confirmed the franchise owner Dine Equity Applebee’s had three restaurants in the country, one in Terrazas shopping center in Lindora, Santa Ana, another one in Plaza Carolina , San Pedro and the third one in Cariari. According to Julio Villegas, operations manager of Applebee’s Costa Rica the reason the decision was made obeyed to profitabili...

Costa Rica Hybrid Seeds JH Biotech JH Biotech Starts Operations in Guanacaste Costa Rica

JH Biotech, a subsidiary of Jianghuai Horticulture seed Co. of Anhui, China, opened its new facilities in Guanacaste, where it will carry out research and development, quality control, marketing, and sales, as well as export and import products logistics. Costa Rica will be the company’s hub to commercialize seeds from China to other markets on the continent. The company established in Nanda...

Costa Rica Jobs Foreign Direct Investment Foreign Direct Investment in Costa Rica Created 6,718 New Jobs in 2019

The Costa Rican Investment Promotion Agency (CINDE) announced its 2019 performance results. CINDE's work directly contributes to the country's Sustainable Development Goals (SDGs) as set by the United Nations. CINDE particularly contributes to 4 SDGs - Decent Work and Economic Growth, Gender Equity, Industry, Innovation and Infrastructure, and Quality Education - and as such reports its Foreign D...

Costa Rica Jobs Visional Technologies American Company Visional Technology Expands to Costa Rica

Visional Technology LLC, an American company dedicated to supply dimensional metrology and inspection of manufactured components, has chosen Costa Rica as its first expansion outside Puerto Rico. This new operation will assist its clients in that country as well as the United States, Dominican Republic and Central America. Founded in 2001, Visional Technology LLC provides measurement technology...

Organ Smugglers are Back at it Again in Costa Rica

Costa Rica has cultivated a reputation as a medical tourism mecca. Patients come from all over the world to take advantage of the highly trained medical teams operating in Costa Rican hospitals, at prices often lower than in other countries. Now there’s a return of a problem first discovered in 2017: illegal organ trafficking. The illegal organ trafficking business was first brought to light tw...

Costa Rica JObs Marketing Marketing Technology Company Expands Operations in Costa Rica

Cheetah Digital, a cross-channel customer engagement solution provider, has expanded its operations in Costa Rica to meet growing demand for its solutions and help support clients’ global growth strategies. Cheetah Digital is the largest independent marketing technology company in the world, with more than 1,300 employees in 26 offices across 13 countries. In Costa Rica, Cheetah Digital has inv...

Costa Rica JObs P&G Will Hire 150 People During 2020 in Costa Rica

Procter & Gamble (P&G) continues to consolidate its presence in Costa Rica, and has announced that it will hire 150 more people during 2020 in the areas of information technology, finance and logistics. The announcement was made during P&G's celebration of its 20th anniversary in the country, which was attended by the President of Costa Rica, Carlos Alvarado; David Taylor, CEO of P&G; Dyalá Jim...