The Standards Committee of the Central Reserve Bank has issued new Technical Rules for the Management of Money Laundering and Asset Laundering Risks, Financing of Terrorism and Financing of Weapons of Mass Destruction Proliferation (NRP-36). As approved by the Central Reserve Bank on September 23, 2022, the Rules will enter into effect on October 10,…
Category Archives: Blog
Blog, Guatemala, Labor & Employment, News
El Salvador publishes a new orientation guide with preferential tax regimes
03
Oct
Oct
The Ministry of Finance has issued the new “general guide to facilitate the recognition of countries, states or territories with preferential tax regimes and tax treatment,” which will be in effect for the 2023 fiscal year. Under the provisions of article 62-A of the Tax Code, the guide facilitates the recognition of countries, states, or…
Blog, Guatemala, Labor & Employment, News
Modification of contributions to the IGSS for part-time work in Guatemala
29
Sep
Sep
The Board of Directors of the Guatemalan Institute of Social Security issued Agreement 1520 on August 4, in which it modifies the Regulation on the Collection of Contributions to the Social Security Regime, including the regulation of contributions in part-time work. Within the Agreement, the bases on which the quotas applicable to part-time work must…
Blog, Costa Rica, Global Mobility & Relocation, News
Renewal process of migratory identity documents for foreigners in Costa Rica
29
Sep
Sep
The Immigration Office informed*, that upon expiration of the term (September 30, 2022) of the extension of the validity of the documents that accredit the legal permanence of foreigners in the country (known as DIMEX or popularly as cedulas de residencia), foreigners will have a term of three months to carry out the renewal procedure….
Blog, El Salvador, Labor & Employment, News
New law for the protection of breastfeeding is issued in El Salvador
28
Sep
Sep
On September 27, 2022, the Legislative Assembly of El Salvador issued the law, “Love Converted into Food for the Promotion, Protection and Support of Breastfeeding.” This law has labor implications for companies regarding the establishment of lactation rooms and the granting of paid breaks to recent mothers to breastfeed or collect their milk during working…
At BLP, Banking & Finance, Blog, El Salvador
BLP advises on the repurchase of bonds of the Republic of El Salvador
26
Sep
Sep
BLP acted as legal counsel to Deutsche Bank Securities Inc. as dealer manager, in respect of certain tender offers made by the Republic of El Salvador to repurchase in cash certain sovereign bonds due in 2023 and 2025, accordingly; for an aggregate of up to US$360 million in the first round, and up to $74 million in…
Analysis, Blog, Free Trade Zones, Guatemala
How does the foreign capital investment promotion law in Guatemala work?
22
Sep
Sep
Ruben Fuentes Senior Associate Guatemala [email protected] In the next few days, Decree 46-2022 of the Congress of the Republic containing the Law for the Promotion of Foreign Capital Investment will come into force. With the new legislation, the Government of Guatemala seeks foreign investors to enjoy incentives, making the country attractive to the arrival of…
Blog, News, Nicaragua, Sanitary Registration of Products
Nicaragua bans the importation of electronic cigarettes
19
Sep
Sep
On September 6, the General Directorate of Customs Services issued the technical circular identified as CT/116/2022, informing the officials of the General Directorate of Customs Services and the public of the prohibition on the importation of electronic cigarettes and the obligation of importers and exporters of tobacco to register before the National Sanitary Regulation Authority….
Analysis, Banking & Finance, Blog, Business Law, Nicaragua
Nicaragua advances with Fintech regulation
16
Sep
Sep
Federico Barrios Director Nicaragua [email protected] Nicaragua has been regulating the application of technological tools in financial activities since, and to the extent that the local market requires the implementation of advances that allow more efficient processes in conducting operations with money. We understand the Fintech concept as everything related to technologies that allow financial innovation,…
15
Sep
Sep
On September 14, 2022, the Legislative Assembly of El Salvador decreed paid leave for workers from the public and private sector for September 16, 2022. If an employee works on this date, the employer must pay a surcharge of 100% on his/her salary. BLP has ample experience advising national and international companies on labor matters…