During the month of April, the Registry of Transparency and Final Beneficiaries (RTFB) must be performed.

Legal entities registered in the National Registry and that have their corporate term in force, are informed that as from April 1st , they must file through their legal representative, the ordinary declaration for the period 2022 for legal entities and trusts in the Transparency and Beneficial Ownership Registry (RTBF) and it is extended until the 30th of the same month.

Through communication CD-008-2022 of the Central Bank of Costa Rica(Banco Central de Costa Rica), it is established that the Special Powers of Attorney that were registered before April 1, 2022 and that have already been used, will be disabled based on article 1256 of the Civil Code.

Therefore, in the 2022 period, authorizations by Special Power of Attorney will be disabled, if they have already been used for a specific act, they cannot be used for any other additional management or deriving from the main one.

In case of non-compliance with the duties of Transparency and Beneficial Ownership Register, a proportional fine of 2% of the gross income tax of the person or legal structure, in the income tax period, prior to that in which the infraction occurred, with a minimum of three base salaries and a maximum of one hundred base salaries, will be applied.

If you require assistance in complying with this obligation, please contact us.

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