Latin Lawyer and the Cyrus R. Vance Center once again recognize BLP as a Pro Bono Leading Light. This recognition highlights the commitment to the pro bono work of our lawyers while celebrating the notable contribution of Sustainability by BLP to strengthening the pro bono culture in Latin America. Several factors play a role in…
Category Archives: Blog
Blog, Costa Rica, Labor & Employment, News
Permission to exercise the right to vote in Presidential Elections without salary reduction
24
Jan
Jan
On February 6, 2022, the Presidential Election will be held. Any employee who must work that day may go to the polls to exercise the right to vote. Our Labor Code sets forth the obligation of an employer to grant employees the time necessary to appear before their electoral domicile and cast a vote without…
24
Jan
Jan
BLP has advised IDB Invest on its senior loan for up to US$70 million to Pantaleon S.A., to finance: (i) its industrial and agricultural fixed investment plans, including the implementation of green projects; and (ii) it is working capital needs, including advance payments to sugarcane producers. The main development objectives of the loan from IDB…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Obligation to update information for NGOs in Guatemala
18
Jan
Jan
In Guatemala, Decree number 4-2020 “Reforms to the Law of Non-Governmental Organizations for Development, Decree number 2-2003 of the Congress of the Republic of Guatemala and the Civil Code, Decree-Law number 106 of the Head of Government” entered into force, which establishes, among other provisions, the obligation of a Non-Governmental Organization (“NGO”), registered and operating…
At BLP, Blog, Costa Rica, El Salvador
BLP advises Cementos Progreso Holdings, S.L on the acquisition of CEMEX in Costa Rica and El Salvador
18
Jan
Jan
BLP has advised Cementos Progreso Holdings, S.L. on the $335 million acquisition of assets from Cemex, S.A.B of C.V. in Costa Rica and El Salvador. Our international teams performed due diligence and provided local legal advice on the signing of an agreement by Cementos Progreso Holdings S.L. (“Cementos Progreso”) to acquire the Costa Rican and…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Modification to the Instructions for Qualifying Financial Institutions Not Domiciled in El Salvador
17
Jan
Jan
As of January 1, of this year, the new “Instructions for Qualifying Institutions Domiciled Abroad in the context of the Income Tax Law, Tax Law on the Transfer of Personal Property and the Provision of Services and Tributary Code” entered into force. These Instructions regulate tax benefits such as VAT exemption (currently 13%) and income…
At BLP, Banking & Finance, Blog, Costa Rica, El Salvador
BLP has advised IDB Invest on a US$23 million loan to Grupo Desarrollador de Parques Industriales S.A in Costa Rica
14
Jan
Jan
BLP has advised IDB Invest on its combined long-term and medium-term loan of up to US$23 million to Grupo Desarrollador de Parques Industriales S.A to develop the Green Park Industrial Park in the Coyol area on the outskirts of Alajuela. The financing will be used for the construction of several industrial buildings within the Green…
14
Jan
Jan
On January 11, 2022, the reform of articles 5, 23, and 24 of the “Regulation for Disability, Old-Age and Death Insurance of the Costa Rican Social Security” and the repeal of temporary provisions XII, XIII, XIV, and XV, were published in the official newspaper La Gaceta. According to this reform, an insured party who reaches…
Blog
The law for the medicinal and therapeutic use of cannabis and hemp for food and industrial use is approved in the second debate
14
Jan
Jan
On January 13, the Legislative Assembly of the Government of Costa Rica approved the Law on cannabis for medicinal and therapeutic use and hemp for food and industrial use. This bill, which allows the access and use of cannabis and its derivatives for medicinal and therapeutic purposes, as well as the production and marketing of…
Blog
Extension of validity of stay permits, temporary and permanent residences that have expired after october 1, 2021
12
Jan
Jan
In accordance with resolution DJUR-0197-12-2021-JM issued by the General Directorate of Immigration and Foreign Affairs, the validity of DIMEX CARDS of the following categories are modified: Temporary Residence, Permanent Residence, Special Categories and Stay Permits: The validity of immigration identification documents that expired after October 1, 2021, is extended until September 30, 2022. Stay Permits:…