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.