Labor Transitional provisions to protect employees with underlying medical conditions vulnerable to Covid-19 On November 19, 2020, the Legislative Assembly enacted transitional provisions to protect employees with underlying medical conditions vulnerable to Covid-19 (“Transitional Provisions”). These provisions extend a decree enacted in September 2020 which was in force until October 23, 2020. Scope of application: The…
Category Archives: Blog
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Nov
Nov
By resolution DGT-R-38-2020, the General Directorate of Taxation determined that inactive entities registered before the Tax Administration under the economic activity code 960113, “legal entities constituted in the country that do not develop economic activity from a Costa Rican source”, must file an Income Tax Return using form D-101. The information to be submitted must include…
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Oct
Oct
At the law firm where I am a partner, we are fortunate to have a culture oriented towards diversity and inclusion. It´s part of our DNA. However, a few days ago, while discussing the organization of a webinar for our clients, we agreed unconsciously on a panel of speakers comprised only of men. When somebody…
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Oct
Oct
Effects of COVID-19 and the 2018 socio-political crisis of the real estate market in Nicaragua. It is nothing new that COVID-19 came in like a hurricane in the middle of the summer. No one expected it, no one was prepared and most of the responses have been simply reactive to the situation. In Nicaragua, even…
15
Oct
Oct
The Costa Rican Social Security Fund (“La Caja”) has recently sent a message to all employers informing of modifications to the composition percentages of the Labor Capitalization Fund (FCL)) and the Obligatory Pension Scheme (ROP), based on the Law to Safeguard the Right of Workers to Withdraw Supplementary Pension Resources, law number 9906, which has…
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Oct
Oct
Are you aware of the formal tax obligation of inactive companies in Costa Rica? Below, we detail this obligation and suggest how to comply with it in time to avoid sanctions. What is this new tax compliance about? The formal obligation consists of filing declaration D.135 called, Asset Declaration for Inactive Legal Persons. Who must…
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Oct
Oct
In a follow-up to the creation of the Final Beneficiary Registry (FBR) in August, on September 30, 2020, the National Registry Office issued an informative circular addressed to companies and the private sector. The circular indicates to all companies, and before the entry into force of the FBR, the necessity to update their basic information* in the…
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Sep
Sep
As of March 1, 2021, no person may access an early retirement with the right to a reduced pension under articles 5 and 24 of the Disability, Old-age and Death Insurance Regulations. * Since the publication of the amendment to the indicated Regulation, a gradual change in the right to early pension was established as…
At BLP, Blog
BLP advised IDB Invest on a $60 million loan to support women-owned or led small and medium-sized enterprises (SMEs).
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Sep
Sep
On August 25, 2020, IDB Invest granted BAC in El Salvador a senior unsecured 5-year loan for $60 million. BLP’s Banking and Finance team led by Mariana Nochez and Hunton Andrews Kurth (Washington DC) advised the lender. BAC will use the loan proceeds for the Mujer Acelera (Woman Accelerates) program. This is an initiative created in 2007…
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Sep
Sep
Costa Rica is an ideal location for the cultivation of cannabis, giving the country a chance to be a key participant in the new so-called “Green Gold” market. If you are interested in exploring this new business opportunity and related commerce, our dedicated cannabis team shares the following content series. Business Opportunities in the Cultivation…