Compliance with tax obligations is essential to guarantee the continuity of commercial operations of any company. In the case of exporting companies, the current Guatemalan regulation requires that, no later than July 31, such companies update their compliance status with the Exporters Registry. The update constitutes an administrative tax obligation and enables the subsequent tax…
Category Archives: Blog
At BLP, Banking & Finance, Blog, Costa Rica, Real Estate & Hospitality
BLP advises on the financing of Marina Flamingo in Costa Rica
26
Jul
Jul
BLP has advised both Banco BCT and Marina Flamingo Development Group on granting a syndicated loan for the development of Marina Flamingo, located in the province of Guanacaste, Costa Rica. The loan in tranches is intended for constructive financing of the project’s first stage, soon to start operations. Separate BLP teams advised on the structuring…
26
Jul
Jul
Article 148 of the Costa Rican Labor Code declares August 2, the Day of the Virgin of Los Angeles, as a non-obligatory payment holiday. An employer with a weekly payment method (non-commercial activity) who only pays for a day worked may give the employee the day off to enjoy the holiday; however, the employer does…
At BLP, Banking & Finance, Blog, Environmental, Social and Governance (ESG), Honduras
BLP advises IDB Invest on granting a $40 million financing to Grupo Elcatex in Honduras
20
Jul
Jul
IDB Invest has granted a $40 million financial package to the companies Elcatex and San Juan Textiles, both members of Grupo Elcatex, one of the leading textile conglomerates in Honduras with more than 15,000 employees. The financing consists of $25 million from IDB Invest and the mobilization of $15 million. BLP advised IDB Invest on…
Blog, Environment, Health & Safety, Guatemala, News
New regulations in Guatemala for the prevention of COVID-19 in workplaces
20
Jul
Jul
On July 20, through Government Agreement 179-2022, the Ministry of Labor and Social Welfare established specific mandatory measures in the workplace to prevent COVID-19 infections, as follows. Employer Obligations: Ensure social distancing under the Health Alerts and Health Provisions System of the Ministry of Public Health and Social Assistance or use physical barriers. Clean work…
Blog, Free Trade Zones, Guatemala, News
New rates for the Special Public Development Zones of Guatemala
19
Jul
Jul
Through Ministerial Agreement 398-2022, the Ministry of Public Finance has reformed the Tariff Regulations for the Public Special Development Zones (known as ZDEEP). The approved changes that apply to ZDEEP users and administrators include the following: Modification of the fees for evaluating the application file as a user. Modification of the monthly rent per square…
Blog, El Salvador, Labor & Employment, News
Legislative changes to employers’ obligation to provide daycare services to their employees in El Salvador
19
Jul
Jul
On June 24, 2022, the “Growing Together for the Integral Protection of First Infancy, Childhood and Adolescence Law” was published in the Official Gazette, repealing the “Special Law for the Regulation and Installation of Daycare Rooms for Employees’ Children.” It is worth mentioning that the repealed law was issued on May 2018, but, after multiple…
Blog, Costa Rica, News, Sanitary Registration of Products
Simplification of procedures for sanitary registration of food and cosmetics in Costa Rica
15
Jul
Jul
On July 13, 2022, the reform to executive decree 43291-S that facilitates the sanitary registration of low-risk food and cosmetic products was published in the official newspaper La Gaceta. The reform simplifies the registration of such products to enable immediate approval. Annex 1 of said reform includes an expanded list of cosmetic products, such as…
At BLP, Blog, Business Law, Costa Rica
BLP advises Aptean on the acquisition of RLM Apparel Software Systems
14
Jul
Jul
BLP has advised Aptean, a global provider of business software solutions, on the acquisition of certain assets of the Costa Rican company JD Soft de Costa Rica S.A., as part of the acquisition process of its US affiliate company RLM Apparel Software Systems (RLM). RLM is a provider of cloud-based business software solutions designed specifically…
Blog, Costa Rica, Labor & Employment, News
July 25th Holiday in Costa Rica: Day of the annexation of Guanacaste
11
Jul
Jul
On July 25th, 1824, the people of the Party of Nicoya, a territory known today as Guanacaste, decided to join the Province of Costa Rica. Given the relevance of this historical event, this date was established as a mandatory pay holiday. Therefore, for employers who have a weekly payment modality (non-commercial activity), in which only…