On December 13, 2023, the Official Gazette published Decree No. 905, which reforms the Commercial Code to encourage legalizing the economy’s informal sector and reinvigorate micro and small businesses. Such reforms will become effective on February 11, 2024. Among its principal reforms is the Simplified Share Companies (SAS) provision intended to facilitate the incorporation of…
Category Archives: El Salvador
Analysis, Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, Nicaragua
Central American Holidays 2024 guide is now available
10
Jan
Jan
At BLP, we understand the importance of efficient planning for Human Resources managers. That is why we present to you our valuable guide to work holidays designed specifically for each country in Central America. With our guide, you will gain access to detailed information on holidays in the region, giving you a clear view of…
Blog, Business Law, Costa Rica, El Salvador, Honduras, News, Nicaragua
BLP advises Grupo Unicomer on a syndicated loan for US$350 million
16
Nov
Nov
BLP, renowned for its prowess as legal counsel, has provided pivotal advice in a US$350 million loan transaction granted to Grupo Unicomer by a pool of syndicated banks, where several subsidiaries of Unicomer in LATAM and the Caribbean have acted as guarantors. Our legal guidance spanned the entire process, from negotiations to signing the credit…
Anti-money Laundering Compliance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Amendments to the Instructions for the Prevention, Detection, and Control of Money and Asset Laundering, Financing of Terrorism, and Financing of the Proliferation of Weapons of Mass Destruction.
14
Sep
Sep
On September 5, 2023, through agreement 476 of the Attorney General’s Office of the Republic of El Salvador, reforms for the Instructive for Prevention, Detection and Control of Money and Asset Laundering, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction were approved, such reforms will come into effect 8 days after…
Blog, El Salvador, News, Tax
Approval of the Law for the Promotion of Innovation and Technological Manufacturing
05
May
May
On May 4, 2023, the President of the Republic sanctioned the Law for the Promotion of Innovation and Technological Manufacturing, approved by the Legislative Assembly on April 19, 2023. The purpose of this law is to stimulate the Salvadoran economy by granting tax incentives to innovation or technological manufacturing projects such as programming, management, maintenance,…
Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, News, Nicaragua
Holiday in Central America: International Workers Day, May 1, 2023
27
Apr
Apr
On Monday, May 1, the countries of Central America celebrate International Workers Day (Labor Day), regulated in the region as follows: Guatemala: The holiday is a mandatory payment day. An employer must pay an employee who works on May 1 time and a half (1.5 times the ordinary salary) as compensation for the day. Honduras:…
Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, News, Nicaragua
Holy week holidays in Central America – 2023
30
Mar
Mar
During the week of April 2 to April 9, Central America celebrates Holy Week, which entails the enjoyment of holidays regulated by each country as follows: Guatemala: The holidays, which begin at noon on Wednesday, April 5, and continue until the end of Saturday, April 8, are mandatory payment days when an employer must pay…
Banking & Finance, Blog, El Salvador, Environmental, Social and Governance (ESG), News
BLP has advised World Business Capital (WBC) on granting a $10 million loan to Mi Banco El Salvador
07
Feb
Feb
BLP has advised World Business Capital (WBC) on granting a loan to MULTI INVERSIONES BANCO COOPERATIVO DE LOS TRABAJADORES, S.C. DE R.L. DE C.V. (Mi Banco) for $10,000,000, backed by the U.S. Development Finance Corporation (DFC). Mi Banco will use the funds to expand its microenterprise financing activities to provide financial solutions that help and…
At BLP, Blog, Business Law, Costa Rica, El Salvador, Guatemala, Honduras
Avianca is LatinFinance’s Deal of the Year recipient for whom BLP advised restructuring more than $1 billion in debt
06
Feb
Feb
LatinFinance announced the winners of its annual Deal of the Year awards, for which our client Avianca’s transaction was recognized with the Corporate Restructuring award, restructuring more than $1 billion in debt. Through its offices in Guatemala, El Salvador, Honduras, and Costa Rica, BLP advised Latin American airline Avianca during its restructuring process. Colombian airline,…
Abogados, Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, News
Regional Holidays Calendar 2023
17
Jan
Jan
Our Labor & Employment team gathers the list of mandatory and non-mandatory paid holidays applicable to all Central American countries, ideal for Human Resources teams with operations in the region. Download