On December 13, 2023, the Official Gazette published Decree No. 905, which reforms the Commercial Code to encourage legalizing the economy’s informal sector and reinvigorate micro and small businesses. Such reforms will become effective on February 11, 2024. Among its principal reforms is the Simplified Share Companies (SAS) provision intended to facilitate the incorporation of…
Category Archives: News
22
Dec
Dec
On December 8, 2023, Executive Decree No. 44276-H was published, whereby the income tax brackets that will apply during the 2024 tax period were updated, as detailed below: Salary tax Gross Salary From To Rate $ 0.00 ₡929.000,00 ($ 1,764.00 Aprox.) 0% ₡929.000,00 ($ 1,764.00 Approx.) ₡1.363.000,00 ($ 2,588.00 Aprox.) 10% ₡1.363.000,00 ($ 2,588.00 Approx.)…
20
Dec
Dec
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20
Dec
Dec
Guatemalan Government published Agreement No. 307-2023, in Diario de Centroamérica on December 19, 2023, making official the minimum wages by sector to take effect on January 1, 2024. 1. Department of Guatemala (Economic District 1) Employment sector Day shift Mixed shift Night shift Daily pay Monthly pay Incentive pay Monthly total Agricultural Q.13.39 Q.15.30 Q.17.85…
23
Nov
Nov
We are delighted to announce that BLP has won recognition as one of Latin Lawyer’s prestigious Leading Lights for 2023—a testament to our unwavering commitment to fostering a robust pro bono culture in Central America. Latin Lawyer acknowledges the law firms that have made significant strides in advancing pro bono initiatives, and once again, BLP…
Blog, Costa Rica, News, Sanitary Registration of Products
New expiration date for EMB sanitary registry
16
Nov
Nov
The sanitary registrations of Biomedical Equipment and Material (EMB), Chemical Synthesis Medicines, Biological medicines, Medicines with Therapeutic Equivalence, Hygienic Products, and Natural Products that expire between April 2023 and November 2023 will have their expiration extended to February 29, 2023. 2024.
Blog, Business Law, Costa Rica, El Salvador, Honduras, News, Nicaragua
BLP advises Grupo Unicomer on a syndicated loan for US$350 million
16
Nov
Nov
BLP, renowned for its prowess as legal counsel, has provided pivotal advice in a US$350 million loan transaction granted to Grupo Unicomer by a pool of syndicated banks, where several subsidiaries of Unicomer in LATAM and the Caribbean have acted as guarantors. Our legal guidance spanned the entire process, from negotiations to signing the credit…
Blog, Costa Rica, Intellectual Property, News, Sanitary Registration of Products
New requirements and procedures for the classification, registration, import, labeling, advertising, and surveillance of biomedical equipment and material
13
Nov
Nov
On September 9, 2023, the new RTCR 505: 2022: BIOMEDICAL EQUIPMENT AND MATERIAL. CLASSIFICATION, REGISTRATION, IMPORT, LABELING, ADVERTISING, SURVEILLANCE, AND CONTROL came into effect, establishing requirements and procedures for the classification, registration, import, labeling, advertising, and surveillance of biomedical equipment and material. Under this new regulation, the following documents, which were not previously requested by…
Blog, Costa Rica, Global Mobility & Relocation, News
Extension of the time of entry visa for tourist group 1
31
Oct
Oct
The General Directorate of Immigration and Foreign Affairs decrees* that visitors from the 60 countries corresponding to group 1 of tourist visas for entry to Costa Rica may have their stay time extended from 90 calendar days to 180 calendar days, as established by the following modification: “Article 2—Modify article 8 of the Regulation for…
Blog, Business Law, Costa Rica, News
BLP advised CMI on the acquisition of Corporación AUG in Costa Rica
26
Oct
Oct
BLP has played a fundamental role in the acquisition of Corporación AUG by CMI in Costa Rica. This sweeping transaction involved a series of critical stages and a diverse group of sellers, marking a significant milestone for CMI in the country following the devastating fire at its plant in early 2023. The firm’s advice covered…