COSTA RICA Law and Practice Contributed by: Claudio Donato Monge, Marco Lopez, Claudio A Donato Lopez and Carolina Retana, Zurcher, Odio & Raven
9. Foreign Direct Investment/Subsidies Review 9.1 Legislation and Filing Requirements There are no special rules on foreign direct invest - ment or foreign subsidies. The merger authorisation process involves some co-ordinated work from the Competition Authority with other regulatory authorities
edents have resulted in the resolutions of the Com- petition Commission being nullified. 8.2 Typical Timeline for Appeals An administrative appeal before the Competition Commission is generally resolved in a period of 15 business days. The judicial review does not have a clear timeframe, and it may take between one and three years. 8.3 Ability of Third Parties to Appeal Clearance Decisions The ASCA does not expressly provide a specific appeal mechanism for third parties to challenge merg - er clearance decisions. Any challenge would gener - ally require the third party to demonstrate a direct, legitimate and legally protected interest affected by the resolution. In addition, where absolute nullity or serious proce - dural defects are alleged, a third party could seek to challenge the decision through the ordinary adminis - trative or judicial review mechanisms. There are cur - rently no significant public precedents involving third- party challenges against merger clearance decisions.
in the following sectors: • banking and finance; • telecommunications; • insurance; • pensions; and • securities.
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