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The Legal Persons Tax Law of Costa Rica that became effective on April 1st of 2012 established a 6-month period of grace under which owners of corporations that have been inactive for the prior 24 months before the tax authorities may transfer any real estate held in their name without payment of any government fees, transfer tax and registration expenses. The term for qualifying entities to benefit from this exemption expires on October 1st, 2012.

The provision is meant to encourage real estate owners that registered a corporation solely for the purpose of holding title over real estate to reclaim ownership of any assets and dissolve their corporation. Dissolving such corporations will also allow their owners not to pay the Legal Persons Tax from 2013 and onwards.

Please feel free to contact us should you require more information.

Client alerts are meant solely for general information and should not be regarded as legal advice. If you would like additional information, please contact:

For more information:

Luis D. Acuña
tel. 00 (506)  2221-9058