¿What is a trust?
It is a legal action whereby a legally entitled person or entity,
called TRUSTOR transfers assets or right to an autonomous
patrimony administered by a TRUSTEE for him to use them in
a prudent and diligent way to achieve lawful and default purposes in a
contract for the same TRUSTOR or a third party called BENEFICIARY.
It is a highly sophisticated and efficient business, and has the
ability to adapt to the needs and goals of those who request it, always
keeping as main purpose the protection of property and rights that have
¿Which are the personal
elements of Trust?
The trustor: It is the person or entity
which constitutes the trust agreement and transfers property from his
estate, in trust, to the trustee, to fulfill the purposes for which the
trust was created.
The trustee: It is the person or identity to which you transfer property in
trust, by the trustor, to manage it and to
fulfill the purposes of the trust previously established in the executed
contract. This individual or corporation takes regarding trust estate,
obligations of “a good family man with personal assets“.
The beneficiary: It is the person or
entity for which the trust agreement is. The trustee undertakes to deliver
profits and/or assets of the trust, when the contract so provides.
¿What is the most
important of a Trust?
The establishment of a Trust offers the customer confidence,
certainty and legal security in the operations undertaken, and those which
with other traditional figures, could not be achieved. It acts as would a
good parent in complying with the acts, rights and actions necessary to
achieve the purposes of the trust, thereby creating an autonomous estate,
other than that of the Trustor, Trustee and
¿Who will benefit?
Trusts are intended primarily to the Institutional and Corporate
segment. However, depending on certain characteristics, it is also offered
* Trusts are businesses whose administration is based on loyalty and
* The deal is conditioned according to needs on request.
* It is formalized by a Contract.
* Total separation between the assets of the Trustee and the Trustor.
* It provides adequate accountability.
* Assets that comprise patrimony of the Trust cannot be attached.
* Professional and personalized management of investments, accounts
and securities custody.
* Available in both colones and dollars.
* It is a Typical and Commercial Contract (It is regulated by the
Code of Commerce)
* It is formalized through a Contract between the parties.
* It must have a lawful purpose determined
* Autonomous patrimony
* Accounting Management according to its characteristics
* They can be Inter Vivos or Mortis Causa.
* The Trustee must act with due diligence in office
* Qualified and professional management of business
Rates and/or Costs
Trusts charge a fee in accordance to provisions of the “Reglamento de Tarifas y Comisiones del Banco de Costa Rica” (Regulations
of Fees and Commissions of the Banco de Costa Rica)
* Product administered by a safe, reliable, profitable and
financially sound Bank.
* Extensive nationwide coverage, providing stability in the
administration to the Trustee.
* Ends can be of any type, and according to the will of the Trustor, provided they are lawful and possible.
* Availability of resources, ensuring proper application of funds
* Speed and timeliness of disbursements provided.
* Transparency in the control, and professional and integral
administration of assets, with
timely and accurate information regarding their management.
* Excellent coverage relationship between assets of the Banco de Costa Rica
versus the trust estate.
* Trained and experienced personnel in managing trust funds.
* Permanent advice in Trust and Securities matters according to the
a) MINIMUM AMOUNTS TO OPEN A BUSINESS TRUST
CORPORATIONS AND PUBLIC INSTITUTIONS
IN DOLLARS $500.000.00 (*)
IN COLONES ¢500.000.000.00 (*)
IN DOLLARS $100.000.00 (*)
IN COLONES ¢100.000.000.00 (*)
amounts are subject to assessment of BCR Trust depending on the type of
business and what is the outlook for growth in the medium and long term.
Additionally, values the trustor customer
contribution margin with the Banco de Costa Rica, to analyze their business
from an integral point of view.
Preferably, the customer must submit a letter of intent of application or
service, which allows us to evaluate business.
Signing a Trust Agreement with Banco de Costa Rica.
3. All provisions contained in Código de Comercio
(Code of Commerce) and its ammendments, Ley Reguladora del Mercado de Valores
(Regulatory Law of the Stock Exchange), Ley Orgánica
del Sistema Bancario Nacional (Organic Law of the
National Banking System), Ley sobre Estupefacientes Sustancias Psicotrópicas Drogas
de Uso no autorizado y actividades Conexas (Law on
Psychoactive Drugs Psychotropic Substances Unauthorized Use and Related
Activities), the Código Civil (Civil
Code), Normativa y Circulares
de la SUGEF
y la SUGEVAL(Regulations
and Circulars of SUGEF and SUGEVAL) on the field, Normativa
Interna del Banco de Costa Rica (Internal
Regulations of Banco de Costa Rica), and any sound banking practice advice.