Limited Liability Companies

Pursuant to the Costa Rican Commercial Code, a Limited Liability Company (in Spanish: “Sociedad de Responsabilidad  Limitada”) must have the following organizational structure:

1. One or more Managing Directors (in Spanish: “Gerente”) only.

Corporations

Pursuant to the Costa Rican Commercial Code, a Corporation (in Spanish: “Sociedad Anónima”) must have the following organizational structure:

1. A Board of Directors (in Spanish: “Junta Directiva”) and one or more Comptrollers (in Spanish: “Fiscales”).

Please see, respectively, “Managing Directors”, “Board of Directors” and “Comptrollers” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.