Non-compete agreements in share purchase transactions in Costa Rica
| |

Non-compete agreements in share purchase transactions in Costa Rica

During share purchase transactions between companies in Costa Rica, it is common for buyers and sellers to enter a non-compete agreement. This agreement aims to impose a “negative obligation” on the seller to refrain from participating in the acquired company’s market. Non-compete clauses or agreements represent ancillary restrictions agreed upon by the parties involved in…

Modifications and additions to resolution DGT-R-46-2014 in Costa Rica
|

Modifications and additions to resolution DGT-R-46-2014 in Costa Rica

Mandatory requirement for National Large Taxpayers to submit audited financial statements. With the publication in the official newspaper La Gaceta of resolution MH-DGT-RES-0002-2024 on February 15, 2024, modifications and additions were made to resolution DGT-R-46-2014, linked to the mandatory requirement for National Large Taxpayers to submit audited financial statements. Resolution MH-DGT-RES-0002-2024 amends articles 1, 4,…

Export and Phytosanitary Health Certificates and Their Electronic Transmission in Central America
| |

Export and Phytosanitary Health Certificates and Their Electronic Transmission in Central America

Central American origin goods requiring documentation of their sanitary and phytosanitary condition to any country part of Central American Integration must transmit the certificate electronically through the corresponding institution of the country of origin and the Central American Trade Platform (PDCC). As part of the Central American Trade Facilitation Strategy, approved in Agreement No. 01-2015…

Public-Private partnerships for the development of energy projects
| | | |

Public-Private partnerships for the development of energy projects

1- Introduction The constraints of public finances and limited access to state borrowing for socially desirable projects have led to various schemes involving private sector participation in the design, planning, financing, construction, operation, and maintenance of infrastructure projects, particularly in the areas of roads, ports, and airports. Examples of such participation include the concession of…

Tax Trends in Central America 2023
| | | | | |

Tax Trends in Central America 2023

The Central American region has been characterized by a very dynamic economic, political, and social development, which has permeated the design of fiscal policies in each country. Under this reality, the tax component is consolidated as one of the most important elements of analysis for those who do business in the region, given the development…

Video games and Intellectual Property in Costa Rica
| |

Video games and Intellectual Property in Costa Rica

The Costa Rican legal framework, in conjunction with copyright law, places video games in a category analogous to computer programs or cinematographic works. However, neither of these classifications is suitable for comprehensively covering and safeguarding the elements that make them stand out as a complete creation in themselves without the need to fragment the work…

Carbon credits and fiscal incentives
| | | | | |

Carbon credits and fiscal incentives

I- Background of Carbon Credits: Carbon Credits have their origins in the Kyoto Protocol of 1997, where they were proposed as a mechanism to combat climate change. The primary focus was on preventing, capturing, or reducing Greenhouse Gas (GHG) emissions. This is achieved through the conservation or reforestation of long-term forests, equivalent to not emitting…

Tax-Benefit Regimes in Costa Rica
| |

Tax-Benefit Regimes in Costa Rica

The current Law of the Free Trade Zone Regime in Costa Rica was established in 1990 with the primary goal of attracting foreign investment for job creation. There are approximately 500 beneficiary companies under this law, contributing a substantial 15.2% to the GDP, as per studies by the Foreign Trade Promotion Office (PROCOMER). This translates…

Protecting the right to informational self-determination in banking matters in Central America and the interpretative debate on its limits in Costa Rica.
| | | | | |

Protecting the right to informational self-determination in banking matters in Central America and the interpretative debate on its limits in Costa Rica.

I- Introduction In November 2022, the Central Bank of Costa Rica (“BCCR“) requested from the General Superintendence of Financial Institutions (“SUGEF“) access “to the integral information of all credit operations that the supervised financial intermediaries submit, including necessarily the identification number (physical, legal, dimex, or others), to the Information Management Division of the Central Bank…

Consortium Legal received the prestigious recognition as “Best Firm in Central America” in the Chambers Awards 2023.
| | | | |

Consortium Legal received the prestigious recognition as “Best Firm in Central America” in the Chambers Awards 2023.

On the night of Friday, November 17, the international directory Chambers & Partners held a new edition of the annual awards ceremony “Chambers Latin America Awards for Excellence” in Miami, United States. During the gala, Consortium Legal was recognized for the thirteenth year as “Best Firm of the Year in Central America”, an award received…

Cybersecurity and personal data in the Fintech environment in Costa Rica
| |

Cybersecurity and personal data in the Fintech environment in Costa Rica

Currently, the issue of cybersecurity is of particular importance for companies operating in the Fintech ecosystem, which, precisely, operate at the intersection between finance, technology, and regulation, coupled with the exponential growth in the use of technological and digital means for the execution of financial transactions. Cybersecurity or information security of an entity or virtual…

Good practices in migration matters (focus on migrants)
| | | | | |

Good practices in migration matters (focus on migrants)

Migration is a human phenomenon that has been present throughout history, being driven by various reasons, such as the search for economic opportunities, flight from conflict or persecution, family reunification and the search for a better future. As migration has become a fundamental part of the global reality, it is essential to approach it from…