On July 6, a new regulation regarding the functions and powers of CONESUP entered into force in response to an urgent necessity and in agreement with the current changes and needs faced by Higher Education in our country. Among the relevant provisions, we can mention, for example: The exemption in compliance with the procedures to…
Category Archives: News
Analysis, Blog, Costa Rica, News, Public Law, Public Procurement & Regulation
Comptroller of the Republic publishes Amendment to the Endorsement Regulation
12
Jul
Jul
The Office of the Comptroller General of the Republic has amended the Regulation on the Endorsement of Public Administration Contracting. This reform defines the Comptroller General’s responsibilities under the General Public Procurement Law. It highlights the obligation to migrate to electronic endorsement through the Unified Digital System (SICOP) while establishing deadlines and procedures for endorsing…
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…
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…
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…