Publication of Joint Resolution for the Register of Transparency and Ultimate Beneficiary Owners
Publication of Joint Resolution for the Register of Transparency and Ultimate Beneficiary Owners
Following up the Ultimate Beneficiary Owners (UBO) declaration and with the intention to keep you informed of the provisions governing this obligation, we hereby inform you that the new Joint Resolution of General Scope for the Ultimate Beneficiary Owners Registry was published in La Gaceta number 174, dated September 19, 2024.
The declaration period for 2024 remains for the next month of October, and it is established that in all cases, the declaration must be filed through the legal representative for which they must have a digital signature, or otherwise it will be allowed to be filed through a full attorney-in-fact. However, the possibility of using special powers of attorney is maintained if the temporary injunction requested by the Costa Rican Bar Association remains in force.
Additionally, as it had been anticipated, Non-profit organizations, Solidarity Associations, Mutuals and Cooperatives must comply with the first declaration in the same month, submitting the following information:
If you are one of the new obligated parties for the presentation of the UBO declaration, and require support from to navigate this new obligation, the compilation of the required documentation and/or the access to the system, our specialized team in this matter is ready to support you, and you may please contact us at rbf@bdo.cr to receive a quote and clarify any doubts.
The declaration period for 2024 remains for the next month of October, and it is established that in all cases, the declaration must be filed through the legal representative for which they must have a digital signature, or otherwise it will be allowed to be filed through a full attorney-in-fact. However, the possibility of using special powers of attorney is maintained if the temporary injunction requested by the Costa Rican Bar Association remains in force.
Additionally, as it had been anticipated, Non-profit organizations, Solidarity Associations, Mutuals and Cooperatives must comply with the first declaration in the same month, submitting the following information:
- Identification data of the organization.
- Purpose and objectives of its activities.
- Identifying data of the control structure (Board of Directors, Directors or Administration Counsel).
- Detail of income and expenses such as the “Income Statement” and the “Trial Balance”, or otherwise an auxiliary income and expense statement showing the total annual amounts for the period to be declared, segregated on a monthly basis (such information must be uploaded to the system in the form of a file).
- In the case of non-profit organizations, they must also include general information on both donors and recipients of donations, as well as the amount of the donation if it is equal to or greater than one base salary (approximately $680 dollars).
If you are one of the new obligated parties for the presentation of the UBO declaration, and require support from to navigate this new obligation, the compilation of the required documentation and/or the access to the system, our specialized team in this matter is ready to support you, and you may please contact us at rbf@bdo.cr to receive a quote and clarify any doubts.