Manufacturing in Costa Rica
The Green Park Free Zone
Companies that are investigating the possibility of manufacturing in Costa Rica should consider establishing and maintaining their production operations in the Central American Group’s Green Park.
The Green Park is the most modern industrial development in Costa Rica and is the first and only Leadership in Energy and Environmental Design (LEED) certified industrial development in all Latin America. LEED is an international certification that is granted by the US Green Building Council. It is recognized world-wide and was developed to include a set of rating systems for the design, construction, operations and maintenance of green buildings and developments. In the Green Park, manufacturing in Costa Rica can be accomplished by companies that make the environmental sustainability of their operations a high priority.
In the Green Park Foreign Trade Zone, companies can do their manufacturing in Costa Rica in a one of a kind development that employs energy and water resources in an efficient and environmentally sustainable manner. The Green Park is fitted for LED lighting and uses a series of extraction tanks to collect rainwater for the use of industrial park tenants. Additionally, the Green Park has a state-of-the- art communications system in place, as well as has a modern security system that employs both human and technical resources for 24 hours a day. The Green Park is located in close proximity to Costa Rica’s international airport.
The Green Park contains more than 500,000 square feet of space in which to construct buildings to begin manufacturing in Costa Rica. Its green spaces total more than 200,000 square feet. Plans for the park include the building of a commercial center, space for banking facilities, a food court and a medical center for the employees of the Green Park’s tenants.
The Green Park is located in a Free Zone that is situated in the municipality of Alajuela. Alajuela is twelve miles from the country’s capitol and just over three miles from the Costa Rica’s international airport. The municipality of Alajuela excels in its capacity for innovation, its business competitiveness, and the quality of its workforce. The Alajuela labor pool has a literacy rate of over 94%. Among the many international companies with operations in Alajuela are Abbott Labs, Boston Scientific, Heraeus Medical Components, Pfizer, St. Jude Medical, Moog, and Fischer Scientific.
There are several ways that companies that are interested in manufacturing in Costa Rica can to operate in the country. These include:
- Build-to-Suit arrangements;
- Build-Lease Back Deals
- Industrial Building Rental
Business incentives available in the Central American Group’s Green Park Free Zone. Some expire within a certain timeframe, while some are permanent. Among the incentives that do not have an expiration are:
- Duties and taxes on imported and exported items;
- Withholding tax on royalties and fees
- Interest Income
- Sales tax on the purchase of local goods and services;
- Stamp duty
Companies that choose the Green Park as their base of operations in Costa Rica are eligible to receive a 100% income tax exemption during the first eight years of operation. After that they can apply for a 50% reduction for the subsequent four years.
Additionally, property transfer taxes receive an exemption for a ten year period.
Interested in the Green Park Foreign Trade Zone?
We look forward to receiving your inquiries.