On April 17th, 2020, the Governmental Agreement no. 58-2020 was published on the Official Gazette of Central America, which includes the Regulation for granting the benefit of the fund for employment protection, which establishes the conditions and requirements to access the economic benefit that the State will grant to workers in the private sector, whose…
Category Archives: Blog
Blog, News
Directorate General of Immigration modifies and extends temporary administrative measures in Costa Rica
01
Jan
Jan
The Directorate General of Immigration will not receive requests until December 1st, 2020: 1. NEW LEGAL PERMANENCE REQUESTS: No new requests for legal permanence, under any immigration category, will be received until December 1st, 2020, provided that a prior appointment has been requested as of October 19, 2020. VALIDITY OF CRIMINAL RECORD CERTIFICATES, MARRIAGE CERTIFICATES AND BIRTH CERTIFICATES: They…
01
Jan
Jan
GAZETTE SUMMARY EXECUTIVE DECREES Incentives for Electric Vehicles The Regulations under the Law of Incentives and Promotion for Electric Transportation have been issued. The economic incentives for electric vehicles included in the Law are the following: Exemption from the General Sales Tax, proportional Exemption from the Excise Tax, proportional Exemption from the customs duties, proportional…
01
Jan
Jan
The BLP team advised BMR Energy, a subsidiary of Sir Richard Branson’s Virgin Group, on closing the $7 million acquisition of the Valle Escondido Solar Project, the only solar project of its size in Costa Rica, a significant investment in the country’s renewable energy. Under the new structure, BMR Energy will assume the construction and…
Blog, News
Legislative Assembly of Costa Rica suspends sanctions for lack of registration of final beneficiaries
01
Jan
Jan
Moratorium on sanctions is established for 3 months. The fines that were suspended amount to 2% of gross income of the previous fiscal year, with a minimum of 3 base salaries and a limit of 100 base salaries. On January 29, 2020, the plenary of the Legislative Assembly approved a moratorium for the application of…
01
Jan
Jan
As part of the economic reactivation measures proposed by the Government of Guatemala before COVID-19, on April 17th, Decree 18-2020 came into effect, through which the Congress approved the loan granted by the Central American Bank for Economic Integration – BCIE (for its acronym in Spanish)- for an amount of USD$ 193,200,000.00 for the execution…
01
Jan
Jan
In a follow-up to measures to reduce work shifts and suspend employment contracts, we remind our clients that, if the causes for which they requested the authorization of the measures due to the emergency continue, they may consider extending the period of the reduction of the work shifts or suspensions of the employment contracts. To…
01
Jan
Jan
GAZETTE SUMMARY BILLS OF LAW Strengthening of Public Finances This bill of law intends to transform the current Sales Tax into a Value-Added Tax that would apply to all services. In addition, it presents important amendmentsto the Income Tax Law, such as the tax on capital gains. (Published in the Digital Appendix No. 120 of…
01
Jan
Jan
Definition. What is contract rescission (termination)? It’s an unusual cause for contract termination. It’s caused by a variation in the agreed essential conditions which prevent contract performance, such as fortuitous event, force majeure or public interest reasons. Theses causes must be justified or proven. Termination is total. The parties dispense with the initial terms of the contract….
01
Jan
Jan
As we face economic reactivation processes, BLP’s Global Mobility & Relocation team provides you with this series of resources on the most relevant migration aspects of Central American countries and how you can incorporate new foreign executives in the region. Immigration aspects of same-sex marriage in Costa Rica. Costa Rica: an attractive country for the…