Banco Popular S.A. is the dominant commercial banker of microcredits in Honduras. IFC, BCIE and Bamboo Capital Partners sold their shareholdings of Banco Popular to Triple Jump via ASN Microkredietfonds, Incofin, BIO Invest, and FMO. BLP, through its Honduran legal team, advised sellers and buyers on the necessary regulatory approval for the sale of shares…
Category Archives: Blog
11
Nov
Nov
As of January 2023, contribution to the Disability, Old Age and Death regime (IVM – for its acronym in Spanish) will increase with the aid of three contributors, according to the agreement of the Board of Directors, session 9038 of June 20, 2019. With this increase, the employer, the employee, and the State will make…
07
Nov
Nov
Alexandra Aguilar Director at BLP Costa Rica [email protected] In a few months, the World Cup, one of the most anticipated sporting events—in our county at least–begins. As we all know, the tournament will be held in Qatar and has created much expectation, either because the National Team will be one of the protagonists or because…
28
Oct
Oct
For the ninth time (eighth consecutively), BLP has attained the Costa Rica Law Firm of the Year award, presented at the Emmanuel Luxury Venue in Miami, Florida, on October 28. The Chambers Awards recognize the eminence of law firms in regional jurisdictions. “Since its inception, BLP has stood out for strategically supporting its clients so…
27
Oct
Oct
On October 24, 2022, the National Salaries Council (CNS – in its Spanish acronym) agreed to increase minimum wages in the private sector. This accord will take effect on January 1, 2023, when an increase of 6.62% for all salary categories goes into effect. Additionally, the following increases will also apply to the minimum wages…
21
Oct
Oct
Ruben Fuentes Senior Associate Guatemala [email protected] On August 31, 2022, Decree No. 40-2022, which contains the Law on Incentives for Electric Mobility, entered into force. Under this regulation, the aim is to promote the use of vehicles powered by electricity or hydrogen. Part of the objectives of the law above includes the mitigation of greenhouse…
Blog, Costa Rica, Global Mobility & Relocation, News
Deputies of the Legislative Assembly define 16 behaviors as workplace harassment.
14
Oct
Oct
Deputies of the Legislative Assembly define 16 behaviors as workplace harassment. The bill named “Law to prevent and punish Labor Harassment in the public and private sector” pending before the Legislative Assembly since 2018, under file number 20,873, to identify, prevent, punish, prohibit and eradicate workplace harassment, was passed on October 5. The initiative includes…
Blog, Costa Rica, Global Mobility & Relocation, News
Immigration: About the documentation process for foreigners in Costa Rica
13
Oct
Oct
All foreigners, whose MIGRATION CATEGORY IS APPROVED AND NOTIFIED AFTER OCTOBER 01, 2022, can request their appointment for the documentation process, however, the appointment will be granted as of January 2023. Important aspects: The appointment must be requested within 90 days after the notification of approval. The approval resolutions together with the appointment vouchers will…
06
Oct
Oct
On October 4, 2022, the Legislative Assembly approved a new Fire Department Law for El Salvador. The purpose of the law is to modernize the fire department, giving it more institutional independence to enable a faster response to an emergency. This law implements an Ad-Valorem tax of 5% on the contracting, extension, renewal, or modification…
Blog, El Salvador, Labor & Employment, News
Reform to the Labor Code increase fines for labor infractions by employers in El Salvador
06
Oct
Oct
Legislative Assembly reforms the Labor Code to increase fines for labor infractions by employers On October 4, 2022, the Legislative Assembly of El Salvador reformed Art. 627 of the Labor Code to increase the fines for labor infractions against books I, II, and III of the Labor Code and those infractions that do not have…