According to the Law on the Liability of Legal Entities on Domestic Bribery, Transnational Bribery and Other Crimes (“Law”), legal entities (domestic or foreign) and other business structures (such as trusts, associations, and foundations) will be criminally liable for their acts of corruption, as are parent companies for actions of their subsidiaries and affiliates. Such…
Category Archives: Costa Rica
Agribusiness, Blog, Costa Rica, Energy & Infrastructure, Environment, Health & Safety, Environmental, Social and Governance (ESG), News
New European regulations will have a heavy impact on Latin American producers
29
May
May
Recently, the Regulation regarding the marketing in the Union market and the export from the Union of certain raw materials and products associated with deforestation and forest degradation was approved. This regulation would prohibit the entry into the European Union of certain agricultural products that have caused deforestation in their country of origin. Latin American…
Blog, Costa Rica, Energy & Infrastructure, Environmental, Social and Governance (ESG), News
BLP advised Celsia on selling generation assets in Central America to EnfraGen
25
May
May
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)…
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…
Analysis, Blog, Costa Rica, Environment, Health & Safety, Environmental, Social and Governance (ESG)
New regulation to reduce plastic pollution
04
May
May
https://blplegal.com/blp-web-2021/wp-content/uploads/2023/04/Articulo-sistemas-de-desalinizacion_FOTO-.png Luis Palacios Director Costa Rica [email protected] A few years ago, Costa Rica issued Law No. 9876, the Law to Combat Plastic Pollution and Protect the Environment, establishing ambitious goals to reduce plastic waste. However, said Law was suspended pending a Regulation not published until mid-April 2023, and whose main implications we will analyse below:…
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:…
Analysis, Blog, Costa Rica, Environment, Health & Safety, Environmental, Social and Governance (ESG)
New Regulation seeks to promote the operation of water desalination systems
25
Apr
Apr
https://blplegal.com/blp-web-2021/wp-content/uploads/2023/04/Articulo-sistemas-de-desalinizacion_FOTO-.png Luis Palacios Director Costa Rica [email protected] Water scarcity is a global challenge: one of the countries with the highest water availability per person, Costa Rica, does not escape this challenge and seeks to increase water availability through desalination–converting seawater into drinking water; however, this process requires expensive technologies and approval of a series of…
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…