Costa Rica Expertise LLC

By Garland M. Baker
Special to A.M. Costa Rica

Electronic banking in Costa Rica has grown up. It is now easy, fast and efficient.

Transfers from Banco Interfin last week to the national banks, Banco Nacional, Banco de Costa Rica and Banco Crédito Agrícola de Cartago, worked without a hitch. Transfers from Banco de Costa Rica to the private banks Banco Interfin, Banco San José, Scotia Bank, and Banco Cuscatlan worked just as flawlessly. All banks in Costa Rica are currently interconnected. Transfers can be made in either U. S. dollars or Costa Rican colons.

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The ultimate mediation and arbitration
. . . Paul mediates while Peter selects destination

By Garland M. Baker
Special to A.M. Costa Rica

Q. What is the difference between a good priest and Peter at the Pearly Gates?

A. One is a mediator and the other is an arbitrator.

Most people do not know they can pick their own arbitrator in Costa Rica if they know what they are doing.

A mediator is a person who can assist two or more persons to come to an agreement but has no decision power one way or the other if they do not.

An arbitrator moderates disputes but in the end can make a decision as to who wins and who loses.

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By Garland M. Baker
Special to A.M. Costa Rica

Now there is a new way to duck messy probate in Costa Rica.

Thanks to an avid reader with a ton of patience, a limited liability company called an S.R.L. in Costa Rica, is now an even better vehicle for holding assets and succession planning. Most professional people do not know this secret.

Limited Liability companies are great for holding properties and managing businesses, but if there is only one manager and the manager is taken by death, a long legal struggle can take place.

If there are multiple managers, the liability company runs the risk of internal confusion and sometimes theft.

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Main consideration is limiting liability

By Garland M. Baker
Special to A.M. Costa Rica

There are six different types of companies in Costa Rica. Most people are only familiar with one or two, the most common types like sociedad anónimas and S.R.L.s. In these times of changing tax regulations, everyone, business people as well as individuals, should know the differences between the company structures available under commercial law.

The most common company structure in Costa Rica is a sociedad anónima, which is equal to a standard corporation in the United States and other parts of the world.

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For employers, homebuyers and homeowners

By Garland M. Baker
Special to A.M. Costa Rica

Foreigners and expats here have a tool to check out potential employees, contractors, domestics and even real estate brokers and other business associates.

And they really need these tools.

As an example, 75 percent of the applicants to a recent clerical job opening in Costa Rica had serious credit problems. Employers need to know this information because many believe that individuals up to their eyeballs in debt are more likely to steal on the job.

The tool is the six credit reporting agencies in Costa Rica.

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