As of July 1 of this year, private lenders in Costa Rica will be subject to supervision by SUGEF (Superintendencia General de Entidades Financieras), the financial regulatory agency, to monitor potential money laundering and terrorist financing.
Individuals or legal representatives will need a digital signature (Firma Digital) to carry out the registration process. In addition, they must maintain exclusively for the activity subject to registration, accounts, products or financial services with supervised entities.
Unregistered companies or persons may eventually be exposed to the possible closure of their financial institution accounts. Although we recommend you make registration a priority, this does not prevent you from lending money today.
At Gap Investments we offer lenders assistance in registering with SUGEF and acquiring their Firma Digital (or setting up alternatives in the event that the lender is a non-resident). Contact us now for more information!