The Costa Rican Ministry of Foreign Trade and the Ministry of Health have issued a regulation, which is currently under public consultation, to authorize the entry into the free zone regime of products of sanitary interest or their raw materials without the need to process a sanitary registration or notification when such products meet the…
Category Archives: Free Trade Zones
23
Jul
Jul
Author https://blplegal.com/wp-content/uploads/2024/07/ART-Nearshoring-y-su-Impacto-en-Guatemala_FOTO.png Rodolfo Salazar Partner Guatemala E-mail The “nearshoring” strategy is emerging as an increasingly popular business approach, offering companies a clever alternative to traditional outsourcing models. Unlike “offshoring,” which typically involves relocating operational processes to distant countries, nearshoring focuses on relocating these operations to countries that are geographically closer to the company’s primary market. …
Blog, Costa Rica, Free Trade Zones, News
Customs Update: Modification in tariff duties on the importation of paddy and milled rice
10
Jun
Jun
The General Directorate of Customs, through the resolution of general scope MH-DGA-RES-0936-2024, dated June 4, 2024, issues provisions on a new modification to the customs duties on grain and milled rice, in compliance with the resolution reached by the Court of Appeals for Administrative and Civil Litigation of the Treasury, as described in ruling No….
24
May
May
Reform to articles 110, 111, and 111 bis of the Regulations to the Free Zone Regime Law The Ministry of Foreign Trade, through decree No. 44447-COMEX-H, issued reforms to articles 110, 111, and 111 bis of the Regulations to the Free Zone Regime Law. The reforms introduce changes to customs procedures in inventory operations, recycling,…
16
Feb
Feb
2023 was undoubtedly a year of significant changes in the Foreign Direct Investment (FDI) attraction model that the country had sustained for years. Although it is still premature to evaluate the results of these changes, the beginning of the year always gives us the impetus to review in retrospect the work carried out in the…
Analysis, Blog, Free Trade Zones, Guatemala
Eliminate Free Trade Zones: A Legal and Economic Mistake?
11
Dec
Dec
For a long time, economic policies have had to find a balance between the immediate needs of the State and the long-term development of the nation. In that regard, free trade zones (FTZs) have emerged as a strategic solution in many countries. For decades, these zones have been the basis of multiple economic and legal…
Analysis, Blog, Costa Rica, Free Trade Zones
Services: The Other Side of Exports in the Free Trade Zone Regime and the Challenges Involved
21
Nov
Nov
In Costa Rica, we usually associate the free trade zone (FTZ) with the export of goods, most often medical devices. However, according to COMEX statistics, the country’s export of services has had an annual growth rate of 6%, reaching a staggering $11.79 billion in 2022, with a substantial portion of such exports centered on technology….
05
Oct
Oct
Import Customs Declaration Self-rectification Policy Project in public consultation. The General Directorate of Customs issued a policy on the self-rectification of import customs declarations due to the entry into force of article 82 of CAUCA IV, article 333 of RECAUCA IV, article 90 of the General Customs Law and articles 251, 252, 253, 254 of…
21
Oct
Oct
Ruben Fuentes Senior Associate Guatemala [email protected] On August 31, 2022, Decree No. 40-2022, which contains the Law on Incentives for Electric Mobility, entered into force. Under this regulation, the aim is to promote the use of vehicles powered by electricity or hydrogen. Part of the objectives of the law above includes the mitigation of greenhouse…
Analysis, Blog, Free Trade Zones, Guatemala
How does the foreign capital investment promotion law in Guatemala work?
22
Sep
Sep
Ruben Fuentes Senior Associate Guatemala [email protected] In the next few days, Decree 46-2022 of the Congress of the Republic containing the Law for the Promotion of Foreign Capital Investment will come into force. With the new legislation, the Government of Guatemala seeks foreign investors to enjoy incentives, making the country attractive to the arrival of…