CINDE Promotes Foreign Direct Investment

CINDE is the Costa Rican Investment Promotion Agency, a government approved agency whose mission is "to contribute to the country’s development through the attraction of Foreign Direct Investment." Today, CINDE performs a number of activities to promote the country as a good place to invest and do business in.  More importantly to our readers, CINDE is an agency that can help you through the process of establishing operations here.  The following article outlines what CINDE does in terms of promoting Costa Rica, and some of the services it provides to companies who are establishing themselves in Costa Rica.

CINDE Promotes Costa Rica

CINDE performs many promotional activities in order to attract foreign direct investment (FDI) to Costa Rica. They go to events and trade fairs organized all over the world for different sectors in order to inform people about Costa Rica and its advantages. CINDE organizes a number of platform events itself, which are designed to facilitate the interaction between high level executives and key representatives from Costa Rica's government. These events have the mission of promoting dialogue and the interchange of ideas, plus they send a clear message regarding the government's commitment to FDI. On the CINDE web site is an article regarding this subject: President Chinchilla Confirms FDI Support .

CINDE actively participates in internationally recognized forums which are related to monitoring and promoting foreign investment, such as the World Association of Investment Promotion Agencies (WAIPA).

Services CINDE Provides to Enterprises Coming to Costa Rica

• Assistance in the site selection due diligence process by providing detailed information on the country and its advantages, and organizing customized investment agendas.
• Meeting the investor’s needs, arranging meetings with: service providers, Government organizations, universities, Real Estate brokers, attorneys, accountants, industrial parks, and office parks.
• Facilitating direct contacts and links with potential investors from North America and other countries through CINDE’s office in New York.
• Once the company has established in the country, CINDE provides specialized support for strategic aspects geared to new operational expansion projects or promoting product diversification.

There is no minimum level of investment for a company requesting CINDE's services, which are free of charge and available to anyone interest in foreign direct investment in the country.

Advantages of Duty Free Trade Zones to Companies Interested in Costa Rica

Costa Rica recognizes the needs of multinational companies establishing operations, and many years ago instituted regulations for operation under the Duty Free Trade Zone Regimen. Investment incentives are available for activities directly related to the export of services and/or products from Costa Rica the Duty Free Trade Zones offer companies the widest range of benefits currently available in the country, including*:

• 100% exemption on import duties on raw materials, components and capital goods.
• 100% exemption on corporate income tax.
• 100% exemption on export taxes, local sales and excise taxes, and also taxes on profit repatriation.
• 100% exemption on capital taxes.
• No restrictions on capital/profit repatriation or foreign currency management.
• Expedited on-site Customs clearance.
• Possibility to sell to exporters within Costa Rica.

*(subject to international treaties)

CINDE may be contacted via their website, http://www.cinde.org/ where there is also more information about companies who have had success establishing operations here and using the services provided by CINDE.