On November 28, 2018, the Law of Support for Micro and Small Enterprises entered into force, a law that seeks to promote the formalization of small and micro enterprises, in turn, providing benefits for their operation and functioning that favors them to achieve the desired economic growth. It is important to mention that prior to…
Category Archives: Blog
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Aug
Aug
The telecommunications giant, Millicom – which operates under the Tigo trademark in Central America – has acquired all of Telefónica’s subsidiaries in Costa Rica, Nicaragua and Panama. Together with Davis Polk, BLP advised its client throughout the acquisition process, from the elaboration of the due diligence study and the regulatory analysis of the transaction to…
At BLP, Blog
BLP acted as legal advisor to Promerica Financial Corporation in the Debt Issuance of $200 Million
21
Aug
Aug
BLP acted as legal advisor to Promerica Financial Corporation as Issuer in the Debt Issuance of $200 Million. BLP reviewed the transaction in accordance with local legislation and analyzed the Final Offering Memorandum, the Indenture, Price Disclosure Documents, the Security and Pledge Agreement, the Custody Agreement and the Notes. In addition, BLP acted as legal…
21
Aug
Aug
GAZETTE SUMMARY EXECUTIVE DECREES Update of the single tax by fuel type The Tax Authorities updated the amounts of the single tax by fuel type, as follows: Fuel Type Tax (colones) Regular Gasoline 241,25 “Super” Gasoline 252,75 Diesel 142,75 Asphalt 49,00 Asphaltic emulsion 36,75 Bunker Fuel 23,25 LPG 49,00 Jet Fuel A1 144,75 Av Gas…
21
Aug
Aug
The Special Public Economic Development Zones (ZDEPs) in Guatemala emerged as a legal possibility after the reforms to the Law of the Santo Tomás de Castilla Free Zone (ZOLIC) were approved by a qualified majority of the Congress of the Republic in the year 2008. Notwithstanding the foregoing, and despite the existence of a regulation…
21
Aug
Aug
On January 21, 2019, a Bill was introduced to the Economic Affairs committee that would re-establish Costa Rica as one of the foremost countries in the conservation of natural resources and the fight against pollution. This project proposes an ambitious regulation that would prohibit public purchases of single-use plastics, prevent the production and import of…
Analysis, Blog
What are the benefits of the stay by special relevance and the temporary residence for foreign executives who enter Costa Rica?
21
Aug
Aug
The high flow of immigration and the relocation of foreign employees managed by national and transnational companies in Costa Rica mean that there is a need to obtain work permits in the shortest possible time and with the least risks and contingencies for companies. When hiring foreign personnel for its work structure, a company must…
21
Aug
Aug
Internet service providers advocate charging bandwidth-intensive internet companies and content providers. Unquestionably, net neutrality stirs up emotions. The origin of the concept dates to 1860, when the regulations governing communications between the Atlantic and Pacific states of the United States of America required that messages be transmitted with absolute impartiality observing the “first come, first…
21
Aug
Aug
On February 6th, 2018, the Legislative Assembly adopted the last amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer. This is the sixth amendment that has been made to the Montreal Protocol, an agreement designed to phase-down the production and consumption of ozone-depleting substances, thereby reducing their potential release into the atmosphere….
21
Aug
Aug
On December 3rd, 2018, the Legislative Assembly approved the Bill entitled Tax Reform – Law of Strengthening of Public Finances. The Bill includes two major amendments to the Costa Rican tax legislation. First, the Sales Tax Law would be completely changed, since it is intended to transform the actual Sales Tax into a Value Added Tax (VAT). The…