Asset Improvement

Asset Improvement

Categories: Blog

In Costa Rica, there are three main special regimes, these are legal mechanisms that governments implement to encourage foreign direct investment, exportation, development, and revitalization of the economy of the countries. In our country, the institution in charge of the administration of these regimes is the Foreign Trade Promoter (PROCOMER) which are currently in force: Free Zone, Improvement of Asset, and Return of Rights. In this article, we will be developing the Active Improvement Regime, its main benefits, who can be beneficiaries, and its types.

Manufacturing companies understood as those that transform raw materials or semi-processed goods into final products, have the possibility of operating under the Active Improvement Regime. This customs regime is a very important instrument to promote importation; allowing companies to receive the merchandise in the customs territory with a suspension of taxes and under surrender of guarantee.

Unlike the Free Zone Regime, the companies that apply in the Active Improvement Regime do not have to comply with requirements such as investment levels, minimum employment, or the need to settle within an industrial park.

Who can be a beneficiary of the Active Improvement Regime?

Any natural or legal person who submits the goods to a process of:

  • Transformation
  • Repair
  • Reconstruction
  • Incorporation of goods in sets, machinery, transport equipment, or more complex devices

It is important that the beneficiary definitively re-exports or imports the merchandise entered under this regime within the legal period of twelve months.

What is the benefit of the Active Improvement Regime?
Provides tax incentives for companies to be more competitive in the international market.

The Regime has two modalities:

1. 100% direct or indirect re-exportation: Companies must re-export all their production to other countries.
2. Direct or indirect re-exportation and local sale: Companies must pay the corresponding taxes on merchandise for sale in the country, either at the time of importation or local sale.

ERP Lawyers becomes an ally of your company with a team of expert lawyers in the field who will gladly accompany you. If you wish to expand this information and learn more about the Active Improvement Regime, do not hesitate to contact us by email at info@erplawyers.com.

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Attorney Eduardo Rojas and his highly competent team are the reason that my son has his father in his life.

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My son was abducted from the United States and taken to Costa Rica. If it weren’t for ERP Lawyers and their thorough efforts within international family law I do not think I would have been reunited with my son.

The sad fact is that family law in Costa Rica is wrongly biased towards mothers and can often violate human rights of a child to know their father.

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My experience with ERP Lawyers has been very satisfactory.

They are very professional and extremely dedicated in each of their services.

Their problem-solving skills are truly admirable.

I definitely recommend ERP Lawyers to anyone looking for legal advice.

Eva Brenes Branch - Manager Ground Cargo Transportation

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Hello Eduardo, I am writing to complement your team is work in relation to my recent purchase of Condominium Unit. I was initially impressed by your team is mastery of the English Language.

I have been in Costa Rica for 20 years and normally speak Spanish 90% of the time, even with those who speak English.

I generally speak Spanish with everyone unless their English is better than my Spanish, which is not usually the case. I was also impressed with your team is attention to detail.

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