Banks will have to provide foreign clients bank information to treasury
In August, a decree was published in La Gaceta newspaper, determining that all Costa Rican financial entities must provide bank information on their foreign account holders to the treasury here.
This obligation is based on a law passed in 2014 in which Costa Rica ratified the Convention by the OECD regarding the sharing of financial information among the signatory nations.
Information on individual and corporate accounts must be shared with member nations. Accounts opened after December of 2016 for individuals with a balance of over $1 million USD and for corporations that maintain a balance of over $250,000 USD.