SVG or Costa Rica company for a standard e-business?

[kokunut]

I'm considering setting up a new company for an entirely new venture.

It's medium risk, doesn't require much infrastructure, but I will need a bank account or at least an EMI, of course.

Between the two, which jurisdiction makes it easiest to obtain some form of banking?

 

[Sols]

Jurisdiction is just one of many factors that determine the difficulties getting banking. But if this is indeed medium risk, then Costa Rica is better than SVG in most cases as it is more transparent and doesn't have as bad a reputation as SVG does. Costa Rica falls more into the "unknown" category rather than "tax evasion and money laundering".

The main headache with Costa Rica is that you will need documents translated (sworn translation) to English to open bank/EMI accounts. Getting those docs for renewals can take weeks in some cases, so plan ahead and order them early.

 

[kokunut]

The main headache with Costa Rica is that you will need documents translated (sworn translation) to English to open bank/EMI accounts.

Is this something the agent i CR help to get?

Thanks for your help, I consider CR for my business.

 

[Sols]

Is this something the agent i CR help to get?

Check with your agent before incorporation, but I've always been able to get them. It's just slow since you're relying on so many parties (government, translator, agent).

 

[Houdini]

What banking is available for a CR company if you know that @Sols ?

 

[dany]

What banking is available for a CR company if you know that @Sols ?

check this thread

Post in thread 'EMI or bank for Costa Rica company'

May 18, 2023

Your chances of success are probably zero. This is an extremely unattractive proposition for banks/EMIs.

You can try some high risk EMIs like FinXP, Valyuz, Nexpay, Verifo, Bankera/Pervesk, Wallter, and Bilderlings, though. They might accept it, but probably not be able to offer you USD or even GBP. EUR and SEPA only in many cases.

• Sols

• 

No personal experience sorry.