Business

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...

Jobs Costa Rica Modus Create Consolidates in Costa Rica and Looks to Fill New Positions

Modus Create, a multinational company within the digital technologies’ industry, has officially established in Costa Rica and plans to triplicate its current workforce by 2020. The digital transformation company combines Consulting, Design, and Software Engineering to streamline projects and products of global clients, helping them face the new digital economy. The company currently seeks ...

Olive Garden to Open Three Restaurants in Costa Rica

$3.9 million is the approximate amount that will be invested in the opening of three Olive Garden restaurants in Costa Rica in the upcoming three years. The investment group AR Holdings, member of Promerica Group will bring to Costa Rica the Italian food chain restaurant, the biggest in the United States with 850 locations. The first restaurant is scheduled to open in Escazú in 2020, with an...

JObs Costa Rica Looking For a Job in Costa Rica? TradeStation has Positions

TradeStation, a multinational company in the services sector, announced that it has 20 open positions for systems and computer engineers. The company will be receiving job applicants in its facilities, located in Ultrapark 1, building 7B, in Heredia, on October 24, 25 and 26. Thursday and Friday from 2 pm to 7 pm, and Saturday from 9:30 am to 5 pm. Prospects will go through an interview proces...

Refinitiv Costa Rica jobs Refinitiv Opens Facilities in Costa Rica and Adds 50 Job Positions

Refinitiv, a leading global provider of financial data and infrastructure which delivers data, insight and analytics to the financial community, opened its offices on Monday. The company plans to expand its operations in the short term, with 50 additional positions. The company has two departments in the country, including Operations and Finance & Accounting. Currently, Refinitiv is hiring pers...

Design Thinking: Overcome any Challenge With This Workshop in Costa Rica

Do you feel that your organization needs to be more innovative? Are you facing challenges that are not easily addressed through conventional problem-solving approaches? Are you finding that planning for the future, both personally and professionally, is more complex than before? If you’ve answered yes to any of these questions, you may want to consider approaching your professional and personal...

Costa Rica JObs Edwards Lifesciences Invests $100 million to Expand its Operations in Costa Rica

Edwards Lifesciences Corporation, a world leader in innovations for structural heart disease and critical care monitoring aimed at patients, expanded its presence in Costa Rica with a $100 million investment and the addition of 500 new jobs by the end of 2020. The brand new facility is located in La Lima Industrial Park in Cartago and has an extension of 274,000 square feet. This new buildi...

Air Europe Costa Rica Air Europe Interested in Operating in Costa Rica

Civil Aviation in Costa Rica confirmed that airline Air Europe has presented its formal request to operate in the country. According to information released, the permit to operate the San Jose – Madrid route could be ready by April 2020 if the airline complies with all requirements, the company would compete with Iberia which is currently operating this route. Air Europe is putting its eyes...

Vmware Costa Rica Jobss VMware Will Hire 130 People for Expansion in Costa Rica

Seven years ago, VMware started operations in Costa Rica with just five employees. Today, it has more than 665 direct jobs and plans to open 130 positions in the near future. The company made the announcement this Thursday in an event that gathered the President of the Republic, Carlos Alvarado, the Minister of Foreign Trade, Dyalá Jiménez; the Minister of Science, Technology and Telecommunicat...

Work from Home Law Costa Rica Costa Rica Work From Home Bill Signed Into Law

President Carlos Alvarado has officially signed the work-from-home bill into law, which allows telecommuting as an alternative work arrangement for employees in the public and private sector. The new law sets the standards for the work from home policy, strengthening Costa Rica’s competitiveness to develop business and Foreign Direct Investment. The Congress passed the 21.141 bill on August ...

Microport Orthodpedics Costa Rica MicroPort Orthopedics Expands With New Services Center in Costa Rica

MicroPort , a multinational orthopedics company, will establish a new services center in Costa Rica in addition to its current R&D operation for orthopedic medical devices. The company started operations with 30 people this year and will grow to approximately 70 employees by the end of 2020. MicroPort is located at Oficentro Torre La Sabana part of Improsa SAFI real estate fund. Currentl...

forever 21 Costa Rica Forever 21 Clothing Store in Costa Rica Could Declare Bankruptcy

Clothing store Forever 21 plans to declare bankruptcy this Sunday, September 15 according to The Wall Street Journal. The retailer apparently has been affected by the change of consumer habits which has brought low sales. Many people now prefer to shop online and the competition is very strong. According to a statement released by Forever 21 the stores are currently operating normally, and t...

Costa Rica Medtronics Medtronic Inagurates New Manufacturing Facility in Coyol, Alajuela

Medtronic, the largest employer of precision mechanics in Costa Rica inaugurated this week its new manufacturing facility in Coyol, Alajuela. Medtronic has had a commercial presence in Costa Rica since 2015. The company established its manufacturing facility in 2017 with over 100 employees and has subsequently grown to more than 500 professionals in 2019. The facility manufactures components gl...

Kimberly Clark Costa Rica Kimberly-Clark Will Invest $42 Million in Costa Rica

Kimberly-Clark will invest $42 million in its production and supply center as well as in its Global Shared Services Center in Costa Rica. With the new investment, the company will buy high-tech equipment to manufacture more baby, kids and feminine care products, as well as expand the production plant and the Global Shared Services Center, promoting more employment in the country. “This is...

Gap Store Costa Rica Gap Store Reopens in Costa Rica

Gap store returned to Costa Rica and opened doors this weekend in Avenida Escazú shopping center. The international franchise had operated two stores in Costa Rica in the past, one in Multiplaza Escazú and another one in Lincoln Plaza, however, these closed doors in 2016 after three years in the country. Now they come back strong, with an aggressive expansion plan, from the hand of Central A...