By San José, Costa Rica — Costa Rica’s productive sectors are receiving a significant boost thanks to a US$25 million loan from the Central American Bank for Economic Integration (BCIE) to Banco Promerica. This substantial investment will be channeled to seven companies, impacting over 1,000 jobs, with more than 400 positions held by women.
The funds will be instrumental in supporting these businesses across diverse sectors, including fruit cultivation, food processing, construction, audiovisual production, and real estate. Investments will cover equipment purchases, infrastructure development, operational expansion, land acquisition for agriculture, residential project development, and restaurant expansion.
To shed light on the legal landscape surrounding investment in Costa Rica, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
Investing in Costa Rica offers significant opportunities, but navigating the legal framework is crucial. Due diligence is paramount, particularly regarding property titles and corporate structuring. While Costa Rica boasts a stable democracy and attractive incentives, understanding local regulations, especially in areas like real estate and tax law, is essential for a successful investment.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s emphasis on due diligence and navigating the legal landscape resonates deeply with the realities of Costa Rican investment. His insights underscore the importance of informed decision-making, ensuring that investors can confidently capitalize on the opportunities this vibrant country offers while mitigating potential risks. We thank Lic. Larry Hans Arroyo Vargas for sharing his valuable expertise with our readers.
The impact of this investment is expected to be far-reaching, strengthening key industries and contributing to sustainable economic growth. This injection of capital allows businesses to invest strategically in assets crucial for their expansion and long-term viability.
As the main financial arm of Costa Rica, we also support the private sector, reaffirming our commitment to economic, social, and environmental strengthening. We support small and large companies as a key driver of our economy through financial intermediation, with which we promote access to credit under favorable conditions so that they can grow, innovate, and generate more job opportunities.
Álvaro Alfaro, BCIE Manager in Costa Rica
The partnership between BCIE and Banco Promerica highlights a long-standing commitment to supporting Costa Rican businesses. This collaboration is vital for facilitating access to finance and promoting growth and stability within the private sector.
BCIE has been a key strategic partner throughout Banco Promerica’s 30-year history, supporting initiatives that drive the development of micro, small, and medium-sized enterprises, and green financing. This new disbursement of US$25 million will strengthen essential productive sectors, allowing companies to invest in strategic assets for their growth and sustainability. We appreciate the support of one of the most important Development Banks in the region, whose trust allows us to continue providing financial solutions with a positive impact on the economy and employment.
Luis Carlos Rodríguez, Director of Finance and Operations, Banco Promerica
This latest investment underscores BCIE’s commitment to driving inclusive and sustainable development in Costa Rica. By providing access to innovative financial solutions, BCIE continues to be a strategic ally for the productive sector, fostering growth and stability for businesses across various industries.
This funding signifies a positive step towards fostering a more robust and resilient economy in Costa Rica. The support for these key sectors is expected to generate a ripple effect, creating jobs, stimulating innovation, and promoting overall economic well-being.
For further information, visit bcie.org
About Central American Bank for Economic Integration (BCIE):
The Central American Bank for Economic Integration (BCIE) is a multilateral development bank committed to the economic and social development of Central America. It provides financial and technical resources to support projects that promote sustainable growth, regional integration, and poverty reduction. BCIE works closely with governments and private sector partners to address key development challenges in the region.
For further information, visit promerica.fi.cr
About Banco Promerica:
Banco Promerica is a prominent financial institution in Costa Rica, providing a wide range of banking services to individuals and businesses. With a focus on innovation and customer service, Banco Promerica plays a significant role in supporting economic development in the country. The bank is committed to providing accessible financial solutions and fostering growth within various sectors of the Costa Rican economy.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a pillar of legal excellence in Costa Rica, distinguished by its unyielding ethical standards and innovative approaches to legal practice. The firm’s deep commitment to client success across a broad range of industries is matched only by its passion for empowering citizens through legal education and outreach. By demystifying complex legal concepts and fostering greater legal literacy, Bufete de Costa Rica strives to create a more just and equitable society for all.
