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Takes More Than a Passport to Open a Bank Account in Costa Rica

Article Summary:

It is no longer enough to use only a passport to open a personal bank account in Costa Rica; instead an identity document issued by the Immigration Department must be provided. Foreigners living in Costa Rica and diplomats must comply with the additional requirement starting July 1, 2012.

Photo Credit: Nacion

Original Article Text From Nacion via Google Translate :

Aliens Must Provide Documents to Open Accounts

Foreigners residing in the country and credited with a special category must provide a document if you wish to open a bank account, from 1. July next.

This is the Immigration Identification Document for Foreigners (Dimex) issued by the Directorate General of Immigration for residents, and Diplomatic Identification Document (IDD), issued by the Chancellery of the Republic.

The requirement to submit this document replaces the current procedure, in which only need a passport, said Carlos Melegatti, director of Central Bank Financial Services.

Melegatti recognized that a first objective is to provide security to these foreign accounts.

Mario Zamora, Minister of Public Security, said that many foreigners who are visiting Costa Rica, as tourists, may be provided as front for drug money laundering.

Equality. Apart from security, this new requirement provides equal treatment for foreign and domestic, resató Melegatti.

For seven years, he said, all citizens must provide the identification number for transactions in the electronic system SINPE. If it’s a company must provide legal identification number.

But at that time did not unify the requirement to foreigners, since there was a unique identification number issued by an institution for them.

“If you force this requirement on nationals, for equal conditions also should ask foreigners,” said Melegatti. So now looking for a similar treatment in the two cases.

The Central believes that apart from providing security to the transactions and control the eventual use of accounts by the drug, the new bill also gives benefits to outsiders.

One is the possibility of using digital signatures in transactions. Melegatti said digital certificates will be available that allow digital signatures to outsiders.

That way, they gain access to many banking and other measures which can be accessed from home, without having to go to the entities.

Link to Original Article:

From Nacion

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