Exclusive to A.M. Costa Rica

Most people with a company and many attorneys who are notaries are unaware most board meetings in Costa Rica can be held online without the need of a physical assembly. This is important news for those needing to make changes to their company, to authorize a special power of attorney or to change board members.

Some companies recently were fined a lot of money for not filing their Law 9416 report (also known as the transparency and final beneficiaries register or RTBF for short). They could have avoided the fines if they had had an online meeting giving someone a special authorization to file the documents with the Central Bank. [Read more…]