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COSTA RICA - HOMOLOGATION OF SANITARY REGISTRATIONS OF DRUGS


On June 22, 2022, an executive decree was signed that will accelerate registration procedures, since it will allow the application for homologation of drugs approved by regulatory authorities such as the European Medicines Agency (EMA), the United States Food and Drug Administrat...

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BASIC QUESTIONS AND ANSWERS ON PROPERTIES IN THE MARITIME ZONE FOR HOTEL INVESTMENTS IN COSTA RICA


What is the nature of the maritime zone regime in Costa Rica? The maritime terrestrial area in Costa Rica is the first 200 meters measured horizontally from the high tide line. The maritime zone includes islands, pinnacles of rock, mangroves, estuaries, and any smal...

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COSTA RICA - THE RIGHT TO DIGITAL DISCONNECTION


In Costa Rica since September 18, 2019, was published the Law No. 9738, which is the Law to Regulate Teleworking. However, given the speed of information and immediacy of communications, this led to great difficulty in disconnecting from work, exceeding, in some cases, the limits...

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IFLR1000 RANKING 2022: COSTA RICA EXCELS IN THE HIGHEST CATEGORY


IFLR100 published its most recent list of law firms ranked in the banking and finance practice in Costa Rica and, thanks to the effort, commitment and dedication of our outstanding team of experts we were qualified in the highest category: To qualify in this ranking, the Inte...

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OBLIGATORY VACCINATION FOR COVID 19 IN COSTA RICA


Today was published in the Official Diary La Gaceta the Executive Ordinance number 43543-S which refers to the mandatory vaccination against COVID 19. As a first point, it is important to mention that this Executive Ordinance does not amend Executive Ordinance number 43249-S of ...

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ELIMINATION OF MANDATORY USE OF FACE MASKS IN COSTA RICA


Executive Ordinance number 43544 was published today, which amends article 3 of Executive Ordinance number 42421-S of March 10, 2021, called "Mandatory use of face mask". With this amendment, the mandatory use of face masks is only required for front line health employ...

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COSTA RICA - PRESIDENTIAL ELECTIONS 2022, SUMMARY OF MAIN EVENTS


During April, a new election process was completed in Costa Rica. After two electoral rounds, the presidential candidate Rodrigo Chaves of the Social Democratic Party was elected as the next President of Costa Rica. This electoral process also appointed the new 57 Congressman who...

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COSTA RICA - TAX ADMINISTRATION ACTIVATES CONTINGENCY PLAN AND MAKES AVAILABLE TO TAXPAYERS FORM D-110 FOR THE PAYMENT OF TAXES DUE ON APRIL 18TH, 2022


The term to pay the taxes due on April 18th begins today. As established by guideline N°DGT-R-012-2022, since the ATV services have not been re-established as of April 29th, 2022, all taxpayers (except Major National Taxpayers who were the first to whom these measures we...

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COSTA RICA - TAX ADMINISTRATION GRANTS AN EXTENSION FOR THE FILING OF THE UBO REPORT


Last Friday, April 23, 2022, the Ministry of Treasury announced through its social media, an extension to the deadline to submit the UBO report, which should have been submitted no later than April 30 of the current year. The new deadline will be until May 31st,2022. All legal e...

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COSTA RICA - POTENTIAL REFORM TO THE LAW ON CANNABIS FOR MEDICINAL AND THERAPEUTIC USE AND HEMP FOR FOOD AND INDUSTRIAL USE. N° 10.113


Bill No. 22,964 is pending in congress to amend the recently approved law on cannabis for medicinal and therapeutic use and hemp for food and industrial use. The reform is motivated by the partial veto of the executive power that modified article 5 of bill No. 21,388. Article 5,...

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COSTA RICA - REFORM TO THE LABOR CODE: PATERNITY LEAVE AND SPECIAL LEAVES


The Legislative Assembly approved project number 21 149 reforming articles 94, 94 BIS, 95, 96, 97 and 100 of the Labor Code and adding paragraph k) to article 70 of the Labor Code. The most important reforms are the creation of paternity leave and other special leaves, the exten...

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INTERVIEW PROCEDURE WITH PATENT EXAMINERS IN COSTA RICA


According to the last amendment to the Bylaws to the Patent Law back in 2014, among other relevant changes to the form and substance of patentability examinations, the formal possibility of requesting an interview with the examiner was established. Although it is true that befor...

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The global esports betting market


The global esports betting market has been growing at a rapid pace since the early 2000s. In 2010, there were just 600 esports events organized in the world. By 2024, that number will exceed 8,000 with revenue totaling $1 billion. But what does this mean for you? It means that i...

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ARIAS COSTA RICA ADVISES TELEFONICA IN THE SALE OF ITS OPERATIONS TO LIBERTY LATIN AMERICA


Telefónica completed the sale of its regional operations in Central America to Liberty Latin America in Costa Rica for a value of $538 millions USD, and at Arias we advised them with the coordination of the entire transaction related to Costa Rica, including advice on the ...

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COSTA RICA - THE LAW ON CANNABIS FOR MEDICINAL AND THERAPEUTIC USE AND HEMP FOR FOOD AND INDUSTRIAL USE NO. 10,113 WAS SIGNED BY THE EXECUTIVE BRANCH ON MARCH 2, 2022 AFTER ITS APPROVAL IN THE SECOND DEBATE


Since the bill was partially vetoed in late January, the bill has been modified to adopt the Executive Power’s observations. The Executive Power had objected provisions 5, 25 and 26 in the bill related to self-consumption and domestic cultivation. These objections were rais...

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COSTA RICA - REFORM OF REGULATION ON PUBLIC OFFERING OF SECURITIES REGARDING THE PRIVATE OFFERING OF SECURITIES


On November 13th, 2021, the Public Offering of Securities Regulation was amended. Prior to the implementation of this reform, securities trading in foreign markets or in securities markets not registered in the National Registry of Securities and Intermediaries carried out by int...

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COSTA RICA - ORDINARY FILING OF THE ULTIMATE BENEFICIAL OWNER (UBO) REPORT


During the month of April, the Ultimate Beneficial Owner (UBO) Report of legal entities incorporated in the country must be submitted. In this report, the entire shareholder’s structure of the legal entities must be reported up to their final beneficiaries, whether they are...

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ARIAS INCORPORATES THE RENOWNED ENVIRONMENTAL LAWYER ROBERTO CORDERO TO ITS PRACTICE


  With excitement we announce the incorporation of the renowned lawyer Roberto Cordero, to our Environmental Law practice, who for more than 20 years has served as a leader of this practice in the country.  The integration of the new partner will be effective fr...

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REMINDER: PAYMENT OF CORPORATE TAX


The annual Corporate Tax for 2022 fiscal year must be paid during this month and should be done on January 31st at the latest.    The Corporate Tax must be paid by any company, branch of a foreign company or its representative, as well as any individual limited l...

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COSTA RICA - DEADLINE TO SUBMIT THE LUXURY HOMES TAX RETURN IS JANUARY 17TH


January 17th, 2022 is the last day to submit and pay, without surcharges, the Luxury Homes Tax. This tax applies to properties with a construction value that exceeds CRC137,000,000.00 (approx. $212.403). The applicable tax rate extends from 0,25% to 0,50%, depending on the determ...

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COSTA RICA - NEW SALARY TAX BRACKETS WILL BE EFFECTIVE AS OF JANUARY 1ST, 2022


New brackets and applicable rates to salary tax were published in Executive Decree No. 43375-H, in the national newspaper La Gaceta on December 22nd, 2021. The monthly salary withholding tax rates and brackets that will apply as of January 1st, 2022 are the following: &nbs...

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COSTA RICA - SIMPLIFIED HEALTH REGISTRATION BY NOTIFICATION FOR FOOD AND COSMETICS


On November 24, 2021, the decree "Procedure for simplified health registration by notification, health registration, registration recognitions, raw materials, control and surveillance of processed foods and low-risk cosmetics", number 43291-S, was published in the Offic...

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WHAT TO EXPECT FROM A PATENT PRACTITIONER IN LATIN AMERICA


To access the English version click the image below: ...

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COSTA RICA - DISSOLUTION OF THE ENTITIES THAT HAVE A DEFAULTER STATUS IN THE PAYMENT OF THE CORPORATE TAX


During the month of September, the publication in the Official Journal “La Gaceta” of the lists of legal entities that for having accumulated three, or more periods, of default on payment of the Corporate Tax, are being dissolved as of right according to the provision...

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COSTA RICA - MANDATORY VACCINATION AGAINST COVID-19 IN THE PUBLIC AND PRIVATE SECTORS


The President of the Republic and the Minister of Health signed today, October 11, the Executive Decree number 43249-S which establishes the obligation for employees in the Public Sector to be vaccinated against COVID-19 virus and also empowers employers in the Private Sector to ...

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COSTA RICA - EXTRAORDINARY FILING OF THE ULTIMATE BENEFICIAL OWNER-REPORT


During April and May was carried out the ordinary filing of the Ultimate Beneficial Owner (UBO) Report of the legal entities incorporated in the country.   Based on regulation DGT-ICD-R-06-2020, legal entities will have the obligation to file an extraordinary or an ordinar...

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COSTA RICA - COMPULSORY COVID-19 VACCINATION IN THE PRIVATE SECTOR


On September 28, 2021, the National Commission of Vaccination and Epidemiology approved the obligatory vaccination against COVID 19 for the employees of the private sector whose employers, within their internal labor regulations, have opted to incorporate this vaccination as obli...

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ADMINISTRATIVE REVIEW - AVENUES TO CHALLENGE PRE-GRANTED OR POST GRANTED PATENTS


The administrative review provides an opportunity to challenge a patent application refusal issued by the Patent Office and/or challenge a granted patent at the administrative level. This review is done by experienced Examiners and/or administrative judges.   Denial Decis...

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KEY ASPECTS OF THE TRADEMARK OFFICE PROCEDURE TO ACHIEVE THE RECOGNITION OF WELL-KNOWN MARKS


It has been almost two years since the Trademark Office issued the Directive DPI-0003-2019, which authorizes and regulates the procedure for achieving the well-known status of a trademark without having to contend it in a contentious proceeding, such as in an opposition or a null...

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NON-USE CANCELLATION


In Costa Rica, trademark applicants/owners are not required to file declarations of use to demonstrate the effective use of their trademark in commerce in order to obtain registration nor to maintain their registrations. Proof of use will only be required if a trademark owner is ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 60


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced today some modifications t...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 59


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced today some modifications t...

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ARIAS COSTA RICA TIER 1 IN PROJECT DEVELOPMENT BY IFLR1000


On July 28, 2021 IFLR1000 announced its ranking of law firms in the practice of PROJECT DEVELOPMENT. This research is based on transactional evidence and most importantly, feedback from clients and colleagues, therefore being considered as Tier 1 in this ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 58


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced today a modification to th...

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COSTA RICA - APPROVAL OF NEW LAWS THAT BENEFIT THE FOREIGNERS THAT WANT TO RESIDE IN COSTA RICA (DIGITAL NOMADS, INVESTORS, RENTERS, RETIREES)


In order to increase foreign investment and flow, Costa Rican Government has approved Law Project Number 22,215: Law to attract international workers and remote service providers and Bill 9996 (which has already been published and is already in effect): Law to attract investors, ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 57


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced today some modifications t...

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ARIAS COSTA RICA EXCELLED IN THE BENCHMARK LITIGATION RANKING 2021


Last June, Benchmark Litigation announced its most recent rankings for Latin America and our litigators in Costa Rica stood out for being noticed thanks to their practice and trajectory. Victor Garita, partner of the firm, is the one who leads the Litigation department and, fo...

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COSTA RICA INCORPORATES TO ITS PRACTICE TO THE RENOWNED LAWYER MARÍA DEL PILAR LÓPEZ


  The new partner, an expert in intellectual property, and her core team, will contribute to the expansion of the department in Arias. Pilar has more than 20 years leading a sophisticated IP practice.     Today, with great enthusiasm we announced the incorpor...

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ARIAS COSTA RICA: LAW FIRM OF THE YEAR BY IFLR AMERICAS


The IFLR AMERICAS awards highlight the most legally innovative cross-border transactions that closed in 2020. During the research, IFLR editors considered multi-jurisdictional transactions, to highlight work that innovated legal schemes, introduced new structures and in...

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ARIAS COSTA RICA: TIER 1 BANKING AND FINANCE BY IFLR1000


On May 27, 2021, IFLR100 announced the law firms’ rankings in the Banking and Finance practice in Costa Rica. This ranking is based on transactional evidence and most importantly, feedback from clients and colleagues, so being considered in Tier 1 in said practice area...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 55


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID-19.   The Government of Costa Rica announced new measures that apply fr...

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COSTA RICA - EXTENSION OF THE TERM WHICH AUTHORIZES THE REDUCTION OF WORKSHIFTS IN THE TOURISM SECTOR, FOLLOWING THE DECLARATION OF NATIONAL EMERGENCY


Following the measures applied by the Costa Rican Government to mitigate the impact of the COVID-19 pandemic, we inform you that the Legislative Assembly of the Republic of Costa Rica, approved the addition of transitory IV to the Law 9832, "Authorization of Reduction of Wor...

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COSTA RICA APPROVES THE DRAFT GENERAL LAW ON PUBLIC PROCUREMENT


This Monday, May 17th, the Legislative Assembly unanimously approved in a second debate the draft General Law on Public Procurement, File No. 21,546. With this approval, the bill will now pass to the Executive Branch for its final signature. The new Law requires a regulation and ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 54


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID-19.   As noted in recent weeks, the increase in COVID-19 infections and...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 53


Arias created an interdisciplinary taskforce with the participation of different practice areas, which is monitoring and informing about measures taken by the Government to mitigate the impact of COVID-19.   The Government of Costa Rica, due to the increase in cases relate...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 52


Arias created an interdisciplinary taskforce with the participation of different practice areas, which is monitoring and informing about measures taken by the Government to mitigate the impact of COVID-19.   The Government of Costa Rica, due to the increase in cases relate...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 51


Arias created an interdisciplinary taskforce with the participation of different practice areas, which is monitoring and informing about measures taken by the Government to mitigate the impact of COVID-19.   The Government of Costa Rica announced a new modification to the ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 50


Arias created an interdisciplinary task force with the participation of different practice areas to monitor and inform about measures taken by the Government to mitigate the impact of COVID-19.   The Government of Costa Rica announced a modification to the preventive measu...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 48


Arias created an interdisciplinary task force with the participation of different practice areas to monitor and inform about measures taken by the Government to mitigate the impact of COVID-19. The Government of Costa Rica announced today the new measures effective from March 1s...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 47


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID-19. The Government of Costa Rica announced today some modifications to the me...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 46


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced measures that will be in p...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 45


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced the extension of the perio...

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WE CONTINUE TO GROW REGIONALLY


"I feel very proud and grateful to Arias for allowing me to achieve this career milestone. Arias is the firm where I have developed professionally for more than ten years and returning to the firm after my experience in the United States was one of the best decisions I hav...

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COSTA RICA - PAYMENT OF CORPORATE TAX


We remind you that the annual Corporate Tax for 2021 fiscal year must be paid on January 31st at the latest.   The Corporate Tax must be paid by any company, assigned identification number or branch of a foreign company, as well as any individual limited liability company,...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 44


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced today the following measur...

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MELANIA DITTEL, PARTNER AT ARIAS COSTA RICA, EXCELLED AT CHAMBERS DIVERSITY AND INCLUSION


The Chambers Diversity & Inclusion Awards  reward  lawyers  and law firms that are driving the advancement of diversity,  inclusion, and pro bono work throughout Latin America through diverse and extensive research. On December 3, 2020, the winners were ...

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COSTA RICA - SALARY INCREASE IN THE PRIVATE SECTOR


The National Wages Board-hereinafter CNS for its acronym in spanish- approved an increase in minimum wages for private sector employees. The increase is 0.30% for all categories of the decree of Minimum Wages and a 2.33%. for domestic employees.   The increase in mini...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 42


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   Following up on the migratory measures emitted by the Costa Rican...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 41


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Immigration Authorities announced that through the website&nb...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 40


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced modifications in the weeke...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 39


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica has been gradually opening the econo...

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PUBLIC CONSULTATION TO THE REGULATIONS TO LAW NO. 9736 "STRENGTHENING THE COMPETITION AUTHORITIES OF COSTA RICA"


The Antitrust Authority (“COPROCOM”) has initiated the public consultation on the Regulations to Antitrust Law No. 9736. The term to file comments expires on October 14th, 2020.   The Regulations revolve around the new instruments that seek preventing anti-comp...

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HEMP PRODUCTION IN COSTA RICA


In recent months, hemp production has been a subject of analysis in our country. There are many opportunities that the project could generate, for example: the insertion in global value chains or the economic benefits that could provide to a series of economies of scale. For thes...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 38


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica has been gradually opening the ...

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COSTA RICA - COSTA RICA: REGLAMENTO AL TÍTULO II DE LA LEY DE RESPONSABILIDAD DE LAS PERSONAS JURÍDICAS SOBRE COHECHOS DOMÉSTICOS, SOBORNO TRANSNACIONAL Y OTROS DELITOS, LEY N. 9699


On June 04, 2020, the President Costa Rica, Carlos Alvarado, signed the Regulation to Title II of the Corporate Criminal Liability Act, No. 9699 of June 10 of 2019, called "Optional Model of Organization, Crime Prevention, Management and Control".   This became o...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 37


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.   The Government of Costa Rica announced today the following measur...

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COSTA RICA - NEW ANTITRUST RULES DURING COVID-19 CRISIS


The Costa Rican Antitrust Authority (“COPROCOM”), with the purpose of supporting the economic reactivation of the country, issued new provisional rules for the treatment of agreements among competitors to collaborate or coordinate certain actions. These rules establis...

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COSTA RICA - ULTIMATE BENEFICIARY OWNERS (UBO) REPORT SUBMISSION DATE WILL BE APRIL 2021


Today the official newspaper La Gaceta published resolution N° DGT-ICD-R-19-2020 that changes the date to submit the Ultimate Beneficiary Owner report from September 2020 to April 2021. Main changes introduced by this guideline: Entities that submitted the UBO report for ...

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ARIAS COSTA RICA, RECOGNIZED IN THE THIRTIETH EDITION OF THE IFLR1000 LEGAL FIRMS RANKING


We are proud to announce that our offices in Costa Rica were recognized as TIER 1 in the 30th edition of the IFLR1000 Law Firms Ranking. The IFLR1000 is the guide to the world's leading financial and corporate law firms and lawyers. This guide has been producing legal marke...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 36


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of Costa Rica announced today the following measures: Ope...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 35


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of Costa Rica announced today the following measures: Upd...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 34


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of the Republic announced new measures to contain the spr...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 33


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. Due to the restrictions established last Friday, July 10th by the Govern...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 32


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of the Republic announced new measures to contain the spr...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 31


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. Following up on the migratory measures applied by the Government of Cost...

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COSTA RICA: ULTIMATE BENEFICIARY OWNER REPORT FOR FISCAL YEAR 2020 MUST BE SUBMITTED IN SEPTEMBER


The Ultimate Beneficiary Owner (UBO) report for fiscal year 2020 must be submitted during September 2020. Based on guideline DGT-ICD-R-06-2020 “Joint regulation for the Ultimate Beneficiary Owner report” , UBO report must be submitted by legal entities and branches i...

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DECEMBER 1st AS THE DAY OF THE ABOLITION OF THE ARMY IN COSTA RICA


On May 19, 2020, the President Costa Rica, Carlos Alvarado, signed Law N.9803, which establishes an amendment to Article 148 of the Labor Code, which incorporates December 1st as a non-binding holiday in celebration of the Abolition of the Army in Costa Rica. This was made offic...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 30


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of the Republic expands the restrictive measures, due to ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 29


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  As an update on the migratory measures adopted by the Costa Rican G...

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ARIAS PARTICIPATED IN IDB FINANCING STRUCTURE FOR SMES


Our office in Costa Rica advised the Inter-American Development Bank (IDB) in the original structuring of the transaction to promote liquidity of small suppliers in Latin America and the Caribbean, which IDB may use in the future. The transaction was a loan from IDB Invest to E-...

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ARIAS COSTA RICA, TALENT AND LEADERSHIP


Being recognized as a “Tier 1” firm in Baking and Finance, M&A and Project Development in Costa Rica fills us with pride and motivates us to continue encouraging our legal talent and serving our clients the best possible way. The International Financial Law Revie...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 28


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  Orange Alert The following cantons and districts remain on Orange...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 27


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic suspendes the third phase of economi...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 26


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  Due to the increase of confirmed cases regarding COVID-19 in some s...

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COVID19 LEGAL TASK FORCE COSTA RICA – UPDATE 25


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of Costa Rica announced measures to reopen the count...

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ARIAS COSTA RICA CONTRIBUTED TO THE FIRST DISBURSEMENT FOR GREEN LOANS AND SUPPORT FOR SMEs


Arias Costa Rica advised the Dutch Entrepreneurial Development Bank (FMO) in structuring the guarantee for the first disbursement of the US$30 million credit for green loans and financing of small and medium-sized enterprises (SMEs) in the country, granted to Banco Promerica de C...

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COVID19 LEGAL TASK FORCE COSTA RICA – UPDATE 24


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  Today two executive decrees come into force (42351-H and 42350-MGP-...

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COSTA RICA INVITED TO JOIN THE OECD


On May 15th the Government of Costa Rica announced an invitation by the Organization for Economic Cooperation and Development (OECD) to become its 38th member. This invitation concludes a process started on July 8th, 2015 when the OECD Council approved the Costa Rican Acces...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 23


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.    UPDATE ON THE MIGRATORY MEASURES As an update on the migra...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 22


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of Costa Rica announced the following measures for t...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 21


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of Costa Rica announced the following measures to re...

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COSTA RICA: NEW GUIDELINES AND PROTOCOLS TO ABIDE BY FOR THE REOPENING OF OFFICES AND COMMERCIAL ESTABLISHMENTS DURING THE COVID-19 EMERGENCY


The Ministry of Health and the Ministry of Economy, Industry and Commerce, together with representatives of the private and public sectors, have developed national guidelines for the surveillance of the Coronavirus infection (2019-nCoV) and specific protocols with prevention and ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 20


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic of Costa Rica announced new migrator...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 19


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  Costa Rican government announces new measures in face of COVID-19 c...

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COSTA RICA: BILL 20861 - ESTABLISHMENT OF USURIOUS INTEREST RATES


The Legislative Assembly approved in first debate the bill 20861 that seeks to establish the definition of usurious interest rates in the country by establishing a ceiling to the maximum rates that can be charged in the market. The bill, which has yet to pass a consultation ...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 18


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  Costa Rican government announces concession of important infrastruc...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 17


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic of Costa Rica established new guidel...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 16


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic of Costa Rica announced new migrator...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 15


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic announced new vehicle restrictions m...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 14


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic announced new vehicle restrictions m...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 13


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic announced new vehicle restrictions m...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 12


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic announced new migratory measures to ...

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COSTA RICA: IS YOUR COMPANY PREPARED TO HOST VIRTUAL MEETINGS?


The COVID-19 pandemic has forced the governments to implement measures such as borders closures, flights cancellations, closings of establishments, quarantine and recommendations of social distancing, to avoid the spread and seek the population well-being. The estrangement is cau...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 11


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of the Republic announced new measures to contain th...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 10


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of Costa Rica announced measures to mitigate the effects o...

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COSTA RICA - NEWSLETTER ON HEALTH MINISTRY 'S CONDOMINIUM GUIDELINES


On March 20th, 2020, the Ministry of Health issued the General Guidelines for Commercial Condominiums, condominiums with commercial and residential spaces, and Residential Condominiums due to the health alert for Coronavirus (COVID-19). The application of these measures is mandat...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 9


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of Costa Rica announced measures to mitigate the effects o...

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COVID-19 LEGAL TASK FORCE COSTA RICA – UPDATE 8


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19. The Government of Costa Rica announced measures to mitigate the effects o...

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GOVERNMENT ACTIONS TO MITIGATE THE COVID-19 IMPACT - UPDATE 7


The Government of Costa Rica announced new labor and social security measures to mitigate the impact of COVID-19 on the workplace. Please find below the details of the actions taken so far: Temporary relief from social security contributions: The Costa Rican Social Security Ad...

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COVID-19 LEGAL TASK FORCE LEGAL COSTA RICA – UPDATE 6


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  The Government of Costa Rica announced measures to mitigate the eff...

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COVID19 LEGAL TASK FORCE COSTA RICA – UPDATE 5


Arias created an interdisciplinary task force with the participation of different practice areas, that is monitoring and informing about measures taken by the Government to mitigate the impact of COVID 19.  Breach of contract obligations in times of COVID-19 COVID-19 is im...

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ACTIONS OF THE GOVERNMENT OF COSTA RICA TO MITIGATE THE COVID-19 IMPACT - UPDATE 4


On March 17, 2020, the Congress of Costa Rica approved in a first debate an amendment to the Bill of Law “Tax Relief against Covid-19”. The following provisions are being approved in the bill: VAT moratorium: Taxpayers must file the VAT returns corresponding to Mar...

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ACTIONS OF THE GOVERNMENT OF COSTA RICA TO MITIGATE THE COVID-19 IMPACT - UPDATE 3


The Government of Costa Rica announced new labor and social security measures to mitigate the effects of COVID-19 on the workplace. Please find below the detail of the actions taken so far: Health recommendations for employees in non-teleworking positions: The Ministry of...

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ACTIONS OF THE GOVERNMENT OF COSTA RICA TO MITIGATE THE COVID-19 IMPACT - UPDATE 2


The Government of Costa Rica has announced new public policy measures to mitigate the effects of COVID-19 in the following areas:   1. Monetary Policy: The Central Bank, the National Council on Economic Supervision (CONASSIF) and the Banking Supervision Authority (SUGEF) e...

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ACTIONS OF GOVERNMENT OF COSTA RICA TO MITIGATE THE COVID-19 IMPACT


The Government of Costa Rica has announced public policy measures to mitigate the effects of COVID-19 in the following areas: labor, taxes, education and economy. Please find below a list of the measures taken so far: Employment protection:  The Government has reque...

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HOW CAN COSTA RICAN COMPANIES FACE THE LABOR CHALLENGES OF A POSSIBLE CORONAVIRUS INFECTION?


In order to strengthen the containment of the spread of COVID-19 virus, the Executive has issued several guidelines for the public sector by which it declares, among other things, the preventive measures that must be applied at the workplace to avoid a further spread of the Coron...

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AVAILABLE ONLY IN SPANISH


Available only in Spanish. ...

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COSTA RICA - OUR LABOR LAW DEPARTMENT GROWS


San Jose, Monday, February 17th, 2020. Labor and social security law attorney, Carolina Soto, is joining as partner to our firm, Arias, starting today, February 17th. Carolina will become the head leader of the labor law department, after 18 years of experience in company shutdo...

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COSTA RICA IS NOW PART OF THE OECD COMPETITION COMMITTEE


On February 12th, the Organization for Economic Co-operation and Development (OECD) approved Costa Rica into the OECD Competition Committee, as a result of the country's competition policies assessment, and due to the accomplishment of the recommendations regarding the standa...

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COSTA RICA - PAYMENT OF CORPORATE TAX


We remind you that the annual Corporate Tax for 2020 fiscal year must be paid on January 31st at the latest. The Corporate Tax must be paid by any company, branch of a foreign company, as well as any individual limited liability company, currently registered at the Public Regist...

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NON-OPERATIVE COMPANIES IN COSTA RICA


In 2020, entities incorporated in the country having no income of Costa Rican source must register before the Tax Authorities and submit a yearly equity statement to the Tax Authorities. Regulation number DGT-075-2019, published in The Gazzete on December 20, 2019, establishes ...

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COSTA RICAN CONGRESS PASSED A NEW ANTITRUST LAW (NO 9739)


The Costa Rican Congress passed a new Antitrust Law (No 9739) to strengthen the legal capabilities and role of the Commission to Promote Competition ("COPROCOM") (as the general Antitrust Authority) and the Superintendence of Telecommunications ("SUTEL"...

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COSTA RICA - FINAL BENEFICIARIES REPORT WILL BEGIN IN SEPTEMBER


The obligation to submit the report of the Final Beneficiaries of legal entities in Costa Rica, will begin in September 2019. This obligation was established by the Law Against Tax Fraud regulated in Executive Decree No. 41040-H and through the resolution issued by the Central ...

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COSTA RICA - BILL NO. 21.292 INTENDS TO ALLOW NON-RESIDENT BANKS TO OPEN A LOCAL BRANCH IN COSTA RICA


As part of the process of entering the OECD and with the aim of guaranteeing financial stability, the Costa Rican congress recently approved a Bill of Law allowing branches of foreign banks to operate in Costa Rica and form part of the National Banking System. Currently, only ...

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COSTA RICA - UPDATE OF SALARY TAX BRACKETS COME IN TO FORCE FROM TODAY JULY 1ST TO SEPTEMBER 30TH, 2019


As of today, July 1st 2019, the new brackets of income tax will be applicable to the salary, retirement payments and pensions. The updated brackets and rates were published in Executive Decree No. 41799-H, in the national newspaper La Gaceta on June 25th, 2019. The monthly wi...

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COSTA RICA - NEW LAW IMPOSES CRIMINAL LIABILITY ON LEGAL PERSONS


In Costa Rica, only natural persons could be considered as authors of a crime and sanctioned accordingly. This changed with the approval of the Bill of Law "Law on Criminal Liability of Legal Entities on Domestic Bonds, Transnational Bribery and Other Crimes", on June...

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ARIAS COSTA RICA STRENGTHENS PARTNERS’ TEAM


As of February 2019, Melania Dittel from Arias Costa Rica has been promoted to partner, recognizing her professional path, dedication, human quality and commitment to both the Firm and her clients. Melania has a Degree in Law from Universidad Escuela Libre de Derecho, specialize...

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COSTA RICA - PAYMENT OF THE LUXURY TAX


The deadline to submit the Luxury Tax return and to pay this Tax is on January 15th, 2019. The luxury tax applies to real estate used for housing whose construction value exceeds 131 million colones (approximately US$218,000). The luxury tax return must be submitted every thre...

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COSTA RICA - REGISTER OF TRANSPARENCY AND FINAL BENEFICIARIES


We inform you that in compliance with the implementation of the Registry of Transparency and Final Beneficiaries, an obligation established by the Law Against Tax Fraud and which is regulated in Executive Decree N 41040-H named Registry of Transparency and Final Beneficiaries; ...

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COSTA RICA - PAYMENT OF CORPORATE TAX


The annual Corporate Tax for 2019 fiscal year must be paid during this month of January and should be done on January 31st at the latest. The Corporate Tax must be paid by any company, branch of a foreign company or its representative, as well as any individual limited liabili...

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COSTA RICA - LAW FOR STRENGTHENING OF PUBLIC FINANCES


Law for Strengthening of Public Finances Last Tuesday, December 4th, 2018, a new bill was published in the Official Journal La Gaceta, No. 202 N ° 9635 STRENGTHENING OF PUBLIC FINANCES, which introduces several amendments to the Income Tax Law and creates a Value Adde...

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ARIAS ADVISED OMERS IN THE SALE OF TWO AIRPORTS IN COSTA RICA


Arias Costa Rica advised the Ontario Municipal Employees Retirement (“OMERS”), in their sale of an equity participation in Airports Worldwide, including the sale of two of its most important airports, Aeropuerto Internacional Juan Santamaría and Aeropuerto Inte...

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COSTA RICA - ELECTRONIC INVOICE FOR ALL TAXPAYERS


The Tax Administration issues ruling with the dates for implementing the use of  Electronic Invoice for all Taxpayers The Tax Administration published on the official newspaper, ruling No. DGT-R-012-2018, back in March. In this ruling the Tax Authority sets the spec...

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COSTA RICA - NEW TAX REGULATION - COUNTRY BY COUNTRY REPORT


Costa Rica is in the process of becoming part of the Organization for Economic Co-operation and Development (OECD); one of the most important aspects of the process is adapting local regulations to comply with the OECD commitments. Recently, the Ministry of Finance published r...

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COSTA RICA - CORPORATE TAX PAYMENT


The annual Corporate Tax for 2018 fiscal year must be paid during this month of January, and should be done on January 31st at the latest. The Corporate Tax must be paid by any company, branch of a foreign company or its representative, as well as any individual limited liabil...

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COSTA RICA - PRESENTATION OF INFORMATIVE DECLARATION D-151 BEFORE THE TAX ADMINISTRATION


Next Thursday November 30th is the deadline to submit the Informative Tax Return D-151: "Annual statement of customers, suppliers and specific expenses". Failure to submit this tax return within the established legal frame, may lead to the application of penalti...

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COSTA RICA - NEW CALENDAR TO FILE FORM D140


The Tax Authorities suspends the obligation to submit Form D-140 of Modification of Information for non-registered corporate entities in the Tax Registry. The Corporate Tax Law and its Regulations established the obligation to submit for D140 of Modification of Information sin...

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COSTA RICA - PAYMENT OF CORPORATE TAX


Law 9428 of the "Corporate Tax" will come into effect on September 1st, and payments for this tax should be done by September 30th at the latest. The Corporate tax must be paid annually by any company, branch of a foreign company or its representative, as well as any...

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ARIAS COSTA RICA MOVES TO NEW OFFICES


As of June 19, the team of Arias Costa Rica team settled into brand new offices located in the most modern and strategic area of the capital: Avenida Escazú. In its new offices, located in Torre Lexus, the firm offers clients and visitors a modern, comfortable and exclusi...

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TRANSFER-PRICING INFORMATIVE STATEMENT IN COSTA RICA


The new regulatory requirement on transfer pricing has been delayed. Resolution DGT-R-28-2017 was published last week in the official newspaper La Gaceta. This publication modifies resolution DGT-R-44-2016, which established the obligation to file an annual informative tax retu...

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NEW LEGAL ENTITIES TAX APPROVAL IN COSTA RICA


On March 16th, 2017, Congress gave the final approval to Bill 19.818: "Legal Entities Law". The Bill is pending official publication and is expected to come into force in July 2017. The law would tax active and inactive legal entities as follows: Legal entities with...

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CORPORATE TAX APPROVAL IN COSTA RICA


On January 9th, 2017, the Corporate tax was approved on first debate, its final approval is still pending. This tax will apply to all companies as well as branches and foreign companies with legal representatives registered in Costa Rica. This tax has a fiscal period from Janua...

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COSTA RICA - CONSTITUTIONAL CHAMBER DECLARED UNCONSTITUTIONAL ARTICLE 144 OF THE TAX CODE


On August 31, by Vote N° 12496-16, the Constitutional Chamber declared the Tax Code’s Article 144 unconstitutional.  This Constitutional Chamber’s ruling is historic in terms of defending taxpayers’ rights and in setting a brake on the Tax Administrati...

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COSTA RICA - THE BALANCING ACT BETWEEN TAX AUTHORITIES, TAX PAYERS AND THE RULE OF LAW


Compliance with an acceptable and fair tax administration is fundamental to a developing social and economic system, yet its implementation is fraught with challenges. Similar to other Governments around the world, the Costa Rican Administration is facing an increasingly difficul...

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SCOTIABANK COSTA RICA AGREES CREDIT LINE


On July 11th,  Scotiabank Costa Rica was credited a syndicated loan for senior unsecured USD 125 million. This was handed over by eleven international financial institutions. Such operation had as leading lenders and loan arrangers BLADEX (Banco Latinoamericano de Comercio E...

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ARIAS COSTA RICA REAFFIRMS COMMITMENT TO INTELLECTUAL PROPERTY LAW


When Costa Rica signed the Central America Free Trade Agreement with the United States, it ushered in a new era of intellectual property protection for authors, patents and trademarks owners. In recent years, Costa Rica has also implemented regulations regarding copyright protect...

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BILATERAL TREATY BETWEEN THE GOVERNMENT OF COSTA RICA AND THE PEOPLE'S REPUBLIC OF CHINA FOR THE PROMOTION AND PROTECTION OF INVESTMENTS


On March 29th the Legislative Assembly approved the "Treaty between the Government of Costa Rica and the People's Republic of China for the promotion and protection of investments". The agreement sets out the legal framework for the reciprocal promotion, protection...

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