Shareholders are liable only for their share of ownership. It is the most flexible and widely used business platform. Sociedad Anόnima (Limited Company or Corporation)Īs the name “Anonymous Society” implies, these companies are owned by various shareholders, not necessarily named. Their name must include the words “Sociedad de Responsabilidad Limitada,” or “Limitada,” or the initials “S.R.L.” In these companies, the owners’ liability is limited to their original investment, unless specifically defined otherwise by law. Sociedad de Resposibilidad Limitada (Limited Liability Company) Their responsibilities are similar to those who run a General Partnership, except for the fact that their liability is limited to the original declared value of the enterprise. This type of entity is run by a group responsible for the administration and direction of the enterprise, representing the interests of all shareholders. Sociedad en Comandita (Limited Partnership Enterprise) These companies are typically named with the owners’ last names, followed by the word “Compañia.” This renders it a relatively unpopular choice, because the individual owners aren’t shielded. These entities are owned by partners who share the liabilities and responsibilities of the enterprise collectively, and their liability for that responsibility is not limited in any way. Sociedad en Nombre Colectivo (General Partnership Enterprise) I’ll briefly define each, and then focus on the Sociedad Anόnima. The last, called a Sociedad Anόnima, is by far the most commonly used for business purposes. terms, these are: 1) a general partnership, 2) a limited partnership, 3) a limited liability company, and 4) a limited company or corporation. To begin, there are several types of corporate structures from which to choose. This isn’t an especially onerous process, but you should understand some of the basic concepts of how the legal system works before you embark on your new venture. Starting a business in Costa Rica probably requires establishing a company, just like anywhere else. First in a series of columns by Steven Ferris, a Costa Rican attorney with extensive, direct experience in the Costa Rican judicial system, now in private practice.
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