Open a Cryptocurrency Company in Costa Rica

Cryptocurrencies are becoming increasingly attractive to individuals and businesses, with successful ventures emerging in various countries, including Costa Rica. Starting a cryptocurrency business here is relatively straightforward, as there is no requirement for a specific crypto license in Costa Rica.

While there is no specific legislation governing this sector, if you want to open a cryptocurrency company in Costa Rica it is possible. Find below the steps and procedure for company formation in Costa Rica in this sector as presented by our local specialists.

Requirements to open a cryptocurrency company in Costa Rica

The company formation process in Costa Rica is quite simple, including when opening a business in the crypto sector. Within just 2-3 business days, our clients can have a fully incorporated crypto company.

There is no VASP license, but under Law 10961 (2026) virtual asset service providers must register with SUGEF. However, both foreign and local investors must meet the following conditions:

The company must have at least 2 shareholders – However, once established, the company can transition to a sole-owner structure.
At least one director is required for the company.
If the shareholders or directors are not residents of Costa Rica, a local agent must be appointed.
The company must have a registered legal address in Costa Rica.
Certain activities may require additional specialized licenses.

Additionally, our local consultants are ready to assist with setting up banking solutions after incorporation, ensuring you can begin operations without delay. For expert guidance and support, contact us and take the first step toward launching your cryptocurrency business in Costa Rica.

Steps to complete to open a cryptocurrency company in Costa Rica

The procedure related to starting a crypto business in Costa Rica starts with choosing a suitable legal form. Then, the following steps must be completed:

Choosing a unique corporate name – We assist our clients in selecting the proper business and corporate name to ensure compliance with the local rules.
Register the company with the Public Register – We help our clients define the specific type of crypto operations they plan to conduct, while ensuring compliance with both local and international regulations governing cryptocurrency businesses.
Defining shareholders, director and business address – We provide our clients with a comprehensive checklist to ensure all necessary information is gathered for the company formation process. This includes details about the shareholders, directors, and the business address. If the company does not have an operational address in Costa Rica, we offer tailored solutions to meet this requirement.

At the moment, there is no crypto license in Costa Rica (only mandatory SUGEF registration for virtual asset service providers), however, such companies can trade virtual assets in or outside the country.

If you want to open a company in Costa Rica, you can request the services of our consultants who will help you incorporate it in the shortest time possible.

Do you want to open a company in another country, such as Bahrain? We can put you in contact with our partners.

What are the legal structures that can be used to start a crypto business in Costa Rica?

The private limited liability company and the offshore company are two of the most employed legal forms used to create any type of business in Costa Rica. If the first one can be used for activities within the country, the other one is suitable for conducting operations outside Costa Rica. The procedure of registration is the same for both.

If you are a foreign investor and want to open a cryptocurrency company in Costa Rica and operate in your home country, the offshore entity can be a good solution.

We remind you that you don’t need a crypto license in Costa Rica, but when operating abroad special authorizations may be required, depending on the respective country’s regulations.

Types of activities performed by a crypto company in Costa Rica

Such a fintech company can complete several types of activities. Among them, we mention the following:

crypto to regular currency exchange services;
crypto exchange services;
crypto storage services;
storage of regular money for the purpose of exchanging it for digital currency.

There are also other activities that can be completed related to digital money. Among these:

mining is one of the simplest activities that can be completed as a cryptocurrency company;
initial coin offerings or ICOs imply the trading of digital money with the purpose of raising funds for various projects;
ATMs and e-wallets can also be used as cryptocurrency business ideas in Costa Rica.

Providers of exchange, transfer and custody services must register with SUGEF under Law 10961 (registration is not an operating licence). However, it is required only for exchange and storage activities. The other ones are not subject to this condition. Our consultants can guide you through the application process.

Taxation of cryptocurrencies in Costa Rica

The Central Bank of Costa Rica does not consider virtual money as an official currency. This is why, there is no need for a crypto license in Costa Rica; however, various trading operations are allowed.

If you want to open a cryptocurrency company in Costa Rica and wonder about the taxes you will need to pay, here are the most important highlights:

if your activity is completed in Costa Rica, the corporate tax to be paid is 30%;
capital gains are generally taxed at 15% (30% if part of the company's ordinary business income);
dividend payments may be taxed at rates of 5% or 15%;
however, if the activities target other countries, no tax will be paid in Costa Rica;
double tax treaties also apply to such ventures, however, Costa Rica has agreements with Spain, Mexico, Germany, and the United Arab Emirates.

Legislation imposed on Costa Rican cryptocurrency companies

In Costa Rica, the circulation and exchange of crypto-assets are permitted under local regulations and guidelines established by the Central Bank. Currently, there are no explicit laws prohibiting these activities. Investments in crypto-assets are safeguarded by the constitutional principles of freedom, as outlined in Articles 28, 45, and 46 of the Political Constitution. This legal position is further reinforced by the Central Bank’s supportive approach to cryptocurrency operations.

In addition to being permitted for the purchase of personal property and real estate, cryptocurrencies can also be used for salary payments or payroll, after a mutual agreement between employer and employee. Furthermore, exchange houses, ATMs, and other related services are fully operational, contributing to a thriving crypto ecosystem.

Even if there is no special law to provide for the activities carried out under a crypto license in Costa Rica, companies must comply with:

anti-money laundering regulations;
terrorism financing rules.

For this purpose, they need to have KYC (Know Your Client) regulations in place. They must also prepare specific policies and procedures that do not allow the use of the respective digital coins for such activities.

Another law crypto companies must respect is the cyber security and data protection law for their clients.

If you need legal advice on such matters, our lawyers in Costa Rica can advise in this sense.

If you are a foreign investor and want to immigrate to Costa Rica, setting up a crypto company can be a good opportunity. It can also be used as part of the residency by investment program that ultimately leads to citizenship in Costa Rica.

If you want to know more about the Costa Rican crypto license and how to open a business in this sector, please contact us. Feel free to address our immigration lawyers in Costa Rica for details on relocation.