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…
Tag Archives: Costa Rica
21
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…
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…
21
Aug
Aug
Acceptance of the Bill Proposed by the Costa Rican Ministry of Treasury On November 23, 2018, the Constitutional Chamber of the Supreme Court of Justice confirmed that the Bill entitled Tax Reform – Law of Strengthening of Public Finances has no vices of unconstitutionality; therefore, the Bill will continue its process until it becomes the Law of the Republic, which…
21
Aug
Aug
Tax Reform – Acceptance of the Bill Proposed by the Ministry of Treasury The special commission created for the approval of the tax reform, Bill N° 20580 – Law for the Improvement of Public Finances (the Bill), accepted, with votes from PLN, PAC, and PUSC, the proposed bill by the Ministry of Treasury a few…
23
May
May
New Changes to E-Commerce Regulations This past October, a specific chapter was included in the Law to Promote Competition and Effective Defense of Consumers Regulations, in connection with “Consumer Protection in the context of E-Commerce”. The main areas affected by this reform are the following: Advertising on websites: There is now a list of mandatory information…
Blog, News
Resolution of the Costa Rica´s Customs Directorate on documentary and / or physical review with photocopies in Costa Rica
01
Jan
Jan
During the term of the State of National Emergency, the Costa Rica´s Customs Directorate authorized the documentary and physical verification of the documents and merchandise with copies, impressions or simple photocopies of the documents required by each regime and modality. Responsibility: The Auxiliaries of the Customs Public Function, importers and exporters, as indicated by law,…
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…
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
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…