#CostaRica 🇨🇷 #APriori_Article: The Resurgence of Bartering
The exchange of goods, commonly known as "bartering," brings to mind the saying by Parag Gupta: ...
As of September 9, the Supreme Electoral Court (TSE in Spanish) will implement the Costa Rican Digital Identity (IDC), an electronic document with the same legal validity as the physical national ID card.
This document will be valid for four years from its issuance and will cost ₡2,600 (free for senior citizens).
To apply, individuals must hold a valid ID card, complete the process on the TSE website, make payment by card, and activate the identity through the IDC-Ciudadano application. Authentication will be reinforced through biometrics (facial or fingerprint recognition), a security PIN, and advanced data encryption. The physical ID card will continue to be issued free of charge.
For the corporate sector, the new IDC is particularly relevant, as it will be valid for identification purposes in legal acts, registry certifications, notarial procedures, and financial transactions, among others, where the representative’s or attorney-in-fact’s identity must be verified.
Some of the key advantages of the IDC include:
- It streamlines the digital identification of legal representatives in registry and corporate procedures.
- It enhances security in the execution of contracts or in acts before public notaries, reducing exposure to fraud or identity theft.
- It enables swift and remote verification, which is especially beneficial in cross-border operations or when representatives are outside the country.
To validate the authenticity of the IDC, the TSE has made the Verifying Agent application available to both public and private entities, which will be particularly useful in legal and financial processes.
The IDC represents a step forward in the digital transformation of corporate management in Costa Rica, by ensuring greater legal certainty and efficiency in business-related procedures.
