COREDO > Cryptocurrency Licence in Costa Rica

Cryptocurrency Licence in Costa Rica

Costa Rica is a popular jurisdiction for cryptocurrency businesses thanks to its territorial tax system and flexible approach to the regulation of virtual assets. The country offers favourable conditions for international companies working with digital assets, including affordable company registration, developed digital infrastructure, and the absence of a separate cryptocurrency licence.

Since 2016, COREDO has been assisting clients with launching cryptocurrency businesses in Costa Rica — from company incorporation to AML/KYC documentation preparation and bank account opening.

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Cost of the service
from 6 675 EUR

Regulatory Framework in Costa Rica

The legal basis for regulating virtual asset activities in Costa Rica is Law No. 7786 (Ley N° 7786) — the law on combating drug trafficking, money laundering, and terrorist financing. This law establishes AML/CFT obligations for a wide range of entities, including companies working with crypto-assets.

Oversight of AML/CFT compliance is carried out by SUGEF — the General Superintendency of Financial Entities (Superintendencia General de Entidades Financieras). SUGEF ensures the stability, reliability, and effective functioning of the national financial system.

Bill No. 22,837 (Proyecto de Ley Expediente 22.837) introduces amendments to Law No. 7786 and formally includes virtual asset service providers (VASPs) within the AML/CFT legal framework. In July 2025, this bill was approved by the Legislative Assembly in its first reading with the unanimous support of 41 deputies. A key innovation is the addition of Article 15 quáter, which requires all VASP companies to register with SUGEF. This registration is not a licence to conduct business, but rather a compliance checkpoint with AML/CFT standards. The bill also introduces a requirement to comply with the Travel Rule for international transfers of crypto-assets in accordance with FATF recommendations. Penalties for non-compliance range from two to one hundred base salaries.

Costa Rica is a member of GAFILAT (Grupo de Acción Financiera de Latinoamérica) — a FATF-style regional body. According to the latest enhanced follow-up report (2024), Costa Rica has completed the enhanced monitoring process of the fourth round of mutual evaluations, confirming the country’s progress in strengthening its anti-money laundering framework.

Types of Cryptocurrency Services in Costa Rica

Cryptocurrency companies in Costa Rica may carry out the following types of activities within the compliance framework:

Exchange of crypto-assets for fiat currencies and vice versa

conducting operations to convert virtual assets into the national currency (Costa Rican colón) or foreign currencies.

Exchange of crypto-assets for other crypto-assets

providing services for the conversion of one type of virtual asset into another.

Storage and management of virtual assets

custodial services involving the responsible storage of clients’ crypto-assets.

Facilitation of virtual asset transfers

conducting transfers of crypto-assets between market participants.

Provision of financial services

related to the offering and sale of virtual assets — consulting and assistance in the placement and distribution of crypto-assets.

Management of investment portfolios

that include virtual assets — providing services for the formation and management of crypto-asset portfolios on behalf of clients.

It is important to note that accepting deposits, public offering of investments, and other types of regulated financial activities require obtaining the appropriate licences from the financial regulator.

Advantages of Costa Rica for Crypto Business

The territorial taxation principle

Corporate tax applies exclusively to income earned within the territory of Costa Rica. The corporate tax rate for large companies is 30%, while reduced rates from 5% to 20% are available for small businesses depending on income level. Foreign-sourced income, subject to compliance with economic substance requirements, is not subject to taxation.

The absence of a minimum share capital requirement

for S.R.L. companies (Sociedad de Responsabilidad Limitada) lowers the entry threshold for startups and small cryptocurrency projects. The standard share capital is a nominal amount of approximately 10,000 colones (about USD 20).

Fast company registration

allows operations to commence in the shortest possible timeframe. Registration of an S.R.L. takes an average of 4–5 business days.

The flexible regulatory regime

does not require obtaining a separate cryptocurrency licence, which simplifies the process of launching a business. The regulator’s primary focus is on compliance with AML/CFT requirements.

The geographical location

provides a convenient time zone for working with both American and European markets. Costa Rica has a well-developed telecommunications infrastructure and a stable political system.

The favourable business climate

is confirmed by the country’s high positions in international rankings (Doing Business, Index of Economic Freedom). Costa Rica actively attracts foreign investment and supports the development of the technology sector.

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COREDO Service Costs

COREDO offers three service packages for establishing a cryptocurrency business in Costa Rica:

Basic Package

from EUR 6,675 + VAT

Includes S.R.L. company registration.
Registered office for the first year.
Resident Agent services for the first year.
A basic set of corporate documents.

Advanced Package

from EUR 11,400 + VAT

Includes all Basic Package services.
The preparation of an AML/KYC manual, Legal Opinion.
Legal documents for the company website (Terms & Conditions, Privacy Policy).

Full Package

from EUR 20,325 + VAT

Includes all Advanced Package services.
Assistance with bank account opening.
Full legal support for the launch of a cryptocurrency business.

Annual company maintenance is EUR 3,000 + VAT and includes maintenance of the registered office, Resident Agent services, and ongoing legal support.

Payment Terms

Payment for services is made in stages depending on the chosen package. For Advanced and Full packages, a prepayment of 50% of the total cost is required, with the remaining balance due upon completion of document preparation. Full prepayment is available for the Basic Package. Exact payment terms are agreed individually based on the scope of work and project specifics. All prices are quoted exclusive of government fees and duties, which are payable separately.

Requirements for the Company and Founders

To register a cryptocurrency company in Costa Rica, the following requirements must be met:

Legal entity form

S.R.L. (Sociedad de Responsabilidad Limitada). At least two participants are required to establish the company, who may be either natural or legal persons, residents or non-residents of Costa Rica.

Company management

is carried out by one or more managers (gerentes) appointed by the participants’ meeting.

AML/CFT compliance is mandatory

The company must develop and implement a written AML/CFT policy, including risk assessment, transaction monitoring, and client identification. A compliance officer must be appointed — either in-house or outsourced.

KYC/CDD procedures are mandatory for all clients

The company must apply identification, verification, and ongoing monitoring measures for clients. Enhanced due diligence (EDD) is mandatory when dealing with politically exposed persons (PEPs).

A registered office and Resident Agent

are required for registration and maintaining the company’s status in the National Registry of Costa Rica.

List of Documents

To launch a cryptocurrency business in Costa Rica through COREDO, the following documents are required:

Three company name options — for availability verification and registration in the National Registry.

Completed registration form — a questionnaire specifying the types of activities, ownership structure, and details of the managers.

Copies of passports of all shareholders and directors — notarised copies of valid identity documents.

Proof of residential address of the founders — a bank statement or utility bill dated no more than three months prior.

Proof of source of funds — bank statements for the last three months or tax declarations for KYC verification purposes.

CV of the AML/CFT officer — when choosing the Advanced or Full packages, a professional CV of the person appointed as the compliance officer must be provided.

KYC form — a standard identification form to be completed by each beneficial owner.

Licensing Procedure

The process of establishing a cryptocurrency business in Costa Rica includes several stages:

Consultation and package selection (1–2 days).

COREDO specialists analyse the client’s business model, determine the optimal service package, and draw up an action plan. At this stage, the company name and ownership structure are agreed upon.

01

S.R.L. company registration (4–7 business days).

COREDO prepares the incorporation documents, registers the company in the National Registry of Costa Rica, and ensures the issuance of a legal identification number (cédula jurídica).

02

Preparation of AML/CFT documentation (1–2 weeks).

For Advanced and Full packages: development of the AML/KYC manual, internal policies and procedures, Legal Opinion, and legal documents for the company website.

03

Bank account opening (2–4 weeks).

For the Full package: assistance with opening a corporate bank account at a Costa Rican bank or an international bank that works with cryptocurrency companies.

04

Commencement of operations.

Upon completion of all stages, the company is ready to begin operational activities. The total project timeline is from one to six weeks depending on the chosen package.

05

Our Experts

Projects for establishing cryptocurrency businesses in Costa Rica are managed by experienced COREDO specialists:

Pavel Kos

Head of Legal. Has been with COREDO since 2017. Specialises in licensing of financial and cryptocurrency companies, corporate law, and project support across dozens of jurisdictions.

Basang Ungunov

Lawyer. Specialises in the preparation of legal opinions, corporate documentation, and legal support for cryptocurrency projects. Holds a Master of Laws degree.

Frequently Asked Questions

Is a special licence required for cryptocurrency business in Costa Rica?

As of today, there is no dedicated cryptocurrency licence in Costa Rica. Cryptocurrency business is regulated through the AML/CFT compliance framework. Companies are required to comply with the requirements of Law No. 7786 and SUGEF regulations. Once Bill No. 22,837 is adopted, all VASPs will be required to register with SUGEF.

What is the status of cryptocurrencies in Costa Rica?

Cryptocurrencies are not recognised as legal tender by the Central Bank of Costa Rica. The General Directorate of Taxation (DGT) classifies them as virtual assets (intangible assets). Income from crypto-asset transactions is subject to capital gains tax if earned within the territory of Costa Rica.

What is the corporate tax rate in Costa Rica?

The standard corporate tax rate is 30% for large companies. Reduced rates from 5% to 20% are available for small businesses. The territorial taxation principle applies: only income earned within the territory of Costa Rica is subject to tax.

What type of company is registered for crypto business?

For cryptocurrency business in Costa Rica, an S.R.L. (Sociedad de Responsabilidad Limitada) is registered — the equivalent of a limited liability company. There is no minimum share capital requirement, and registration takes approximately 4–5 business days.

How much does it cost to set up a crypto business in Costa Rica through COREDO?

COREDO offers three packages: Basic from EUR 6,675 + VAT, Advanced from EUR 11,400 + VAT, and Full from EUR 20,325 + VAT. The packages differ in the scope of included services — from basic registration to full support with AML documentation and bank account opening.

What are the timelines for launching a crypto business in Costa Rica?

The minimum project timeline is one to two weeks for the Basic Package. For the Full Package with bank account opening — from four to six weeks. Company registration takes 4–7 business days.

What AML requirements must a cryptocurrency company comply with?

The company is required to develop and implement a written AML/CFT policy, conduct client identification and verification (KYC/CDD), apply enhanced due diligence for PEP clients, carry out transaction monitoring, and appoint a compliance officer.

Is Costa Rica a member of FATF?

Costa Rica is a member of GAFILAT (Grupo de Acción Financiera de Latinoamérica) — a FATF-style regional body for Latin American countries. In 2024, the country successfully completed the enhanced monitoring process following the fourth round of mutual evaluations.

Get Started with COREDO

Establishing a cryptocurrency business in Costa Rica is an opportunity to take advantage of territorial taxation and a flexible regulatory regime. COREDO specialists, who have been working with international jurisdictions since 2016, will provide professional support for your project at every stage.

Submit an application for a free consultation, and our experts will find the optimal solution for your business.