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  • Register of Transparency and Ultimate Beneficiary Owners

    Ordinary Annual Declaration

Register of Transparency and Ultimate Beneficiary Owners

10 March 2022

Dear client,

We would like to remind you of the annual obligation to submit to the Central Bank of Costa Rica, the declaration of the Registry of Transparency and Ultimate Beneficiary Owners (UBO), which has the purpose of complying with international standards and recommendations (OECD - FATF) related to transparency in tax and financial matters, allowing our authorities to have updated and relevant information for the fight against tax fraud and related crimes.

The Joint Resolution of General Scope for the Registry of Transparency Ultimate Beneficial Owners No. DGT-ICD-R-06-2020 dated March 26, 2020 and its amendments, issued by the General Tax Administration (Dirección General de Tributación) and the Costa Rican Narcotics Institute (Instituto Costarricense Sobre Drogas) establishes in its article number 6, the obligation of all required legal entities to file an ordinary declaration every year during the month of April.

For the current year 2022, the team in charge will be reviewing the supporting documentation that we have in custody of the declarations filed for the period 2019-2020 and the period 2021. In case your company has undergone any changes in the shareholding structure or in the declared beneficial owners, please inform us immediately in order to study the modifications and prepare the corresponding information request; if this has not been the case, once the revision of the supporting material has been completed, we will inform you if it is necessary to issue documents with a recent date in order to comply with the due diligence demanded by the law to verify and validate the accuracy of the data provided in the UBO declaration.

We remind you that, in the event of non-compliance, the company may be subject to the following penalties: 


  • Fine proportional to 2% of the gross income for the period prior to the infraction
  • Minimum of three base salaries and a maximum of one hundred base salaries. 


  • Inclusion in the List of non-compliant parties of the General Tax Administration
  • Non-issuance of certificates of corporate status (personerías) or registration of documents by the National Registry for companies included in the list of non-compliant entities
  • Notarial certifications must state that the company is included in the list of non-compliance. 

For any doubt regarding the process or any assistance you may require, we remain at your disposal at the following e-mail address: [email protected] 


The BDO Legal Team.