Celsia, through its companies in Central America, reached an agreement with Fontus Spain (a subsidiary of EnfraGen) for the sale of some of its generation assets in Panama and Costa Rica, such as: Dos Mares hydroelectric complex in Chiriquí (Panama), with a capacity of 118 MW. Solar farms: Divisa (9.8 MW) and Celsolar (9.7 MW)…
Author Archives: BLP
19
May
May
Global Affairs Canada released on May 16, 2023, that Canada has formally acceded to the Convention on the Abolition of the Requirement of Legalization of Foreign Public Documents, also known as the Apostille Convention. The Apostille Convention will enter into force in Canada on January 11, 2024. Accession to the Convention means that Canadian citizens…
17
May
May
https://blplegal.com/blp-web-2021/wp-content/uploads/2023/05/La-importancia-de-las-franquicias-para-hacer-negocios-en-Guatemala_FOTO-.png Jeaneth Divas Senior Associate Guatemala [email protected] Legal framework of the Franchise Agreement in Guatemala Franchising is a result of commercial expansion around the world; it is a way by which a merchant/entrepreneur who already has an established, proven, and successful business model in the marketing of its products and services under an identifying trade…
Blog, El Salvador, News, Tax
Approval of the Law for the Promotion of Innovation and Technological Manufacturing
05
May
May
On May 4, 2023, the President of the Republic sanctioned the Law for the Promotion of Innovation and Technological Manufacturing, approved by the Legislative Assembly on April 19, 2023. The purpose of this law is to stimulate the Salvadoran economy by granting tax incentives to innovation or technological manufacturing projects such as programming, management, maintenance,…
Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, News, Nicaragua
Holiday in Central America: International Workers Day, May 1, 2023
27
Apr
Apr
On Monday, May 1, the countries of Central America celebrate International Workers Day (Labor Day), regulated in the region as follows: Guatemala: The holiday is a mandatory payment day. An employer must pay an employee who works on May 1 time and a half (1.5 times the ordinary salary) as compensation for the day. Honduras:…
21
Apr
Apr
On March 29, through Gazette number 58, scope number 55, resolution MH-DGT-RES-0007-2023 was published by which the General Directorate of Taxation ratified the obligation to file the declaration of inactive legal entities through form D195, which will be available as of April 24, 2023, on the Virtual Tax Administration (“ATV”) platform. Consequently, May 31, 2023, was…
18
Apr
Apr
BLP is proud to announce the promotion of Alejandro Rojas to Partner. Rojas, who previously served as Special Counsel of our firm in San José, Costa Rica is an accomplished legal professional with over 25 years of experience in criminal law. Rojas has ample expertise in the field of criminal law, having served as the…
Banking & Finance, Blog, Costa Rica, Environmental, Social and Governance (ESG), News
BLP advised on the issuance of $1.5 billion in Eurobonds by the Republic of Costa Rica
12
Apr
Apr
On March 27, the Republic of Costa Rica issued bonds in foreign currency for $1.5 billion with a yield of 6.55%, averaging a maturity in 2034. BLP served as a local counsel to Santander US Capital Markets LLC and J.P. Morgan Securities LLC, who acted as initial purchasers and joint administrators in this transaction. Official…
Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, News, Nicaragua
Holy week holidays in Central America – 2023
30
Mar
Mar
During the week of April 2 to April 9, Central America celebrates Holy Week, which entails the enjoyment of holidays regulated by each country as follows: Guatemala: The holidays, which begin at noon on Wednesday, April 5, and continue until the end of Saturday, April 8, are mandatory payment days when an employer must pay…
27
Mar
Mar
On Tuesday, April 11, we celebrate 167 years since the hero Juan Santamaría burned the “Mesón de Guerra,” an act that enabled Costa Rican forces to defeat the North American filibusters at the Battle of Rivas; and, given its relevance to the country, established the date as a mandatory payment holiday. Under Law No. 9875,…