Consortium Legal recognized as “Latin America: Professional Development Firm of the Year”
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Consortium Legal recognized as “Latin America: Professional Development Firm of the Year”

On the evening of Thursday, June 20, the Legal Benchmarking Group celebrated the Social Impact Awards 2024, where Consortium Legal was recognized as “Latin America: Professional Development Firm of the Year.” “Inclusion in this list highlights the significant progress law firms have made in building a more diverse and inclusive legal profession, as well as…

Strategies and considerations for obtaining permanent residency in Honduras
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Strategies and considerations for obtaining permanent residency in Honduras

Obtaining permanent residency in a foreign country is a significant step for many individuals seeking to establish themselves permanently outside their country of origin. Besides the personal and professional benefits, it offers, this process involves a series of specific requirements that must be met to achieve the desired goal. This article will explore fundamental strategies…

Consortium is recognized for its excellence and innovation at the IFLR Americas Awards
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Consortium is recognized for its excellence and innovation at the IFLR Americas Awards

The legal directory International Financial Law Review (IFLR) recognized Consortium Legal with 4 awards at the annual gala held this Wednesday, May 15 in New York City, United States. The event brought together the continent’s best law firms to highlight their work on the most innovative cross-border transactions of 2023, their teams, and participating lawyers….

Incorporation of foreign companies in Honduras
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Incorporation of foreign companies in Honduras

Within the most common legal structures in Honduras for conducting commercial operations, we have the establishment of a local company and the incorporation of a branch of a foreign company. Through the establishment of a local company, a new legal entity is created, which is subject to rights and obligations and is authorized to carry…

Lack of legal certainty for new energy generators in Honduras
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Lack of legal certainty for new energy generators in Honduras

Honduras, like many developing countries, has been working on modernizing and expanding its energy infrastructure to meet the growing demands for electricity and foster economic development. However, this process is not without challenges, and one of the biggest obstacles facing new energy generators in the country is the lack of legal certainty stemming from modifications…

Simplified National Employer Registry System´s creation in Honduras
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Simplified National Employer Registry System´s creation in Honduras

The Simplified National Employer Registry System (RNSP) has recently been established under the auspices of the Ministry of Labor and Social Security, through the General Directorate of Labor Inspection. As a result, it is mandatory for all natural persons, legal entities, individuals, and public or private entities exercising activities in Honduras, either for their benefit…

Aspects of Corporate Governance Regulations for CNBS-Supervised Institutions
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Aspects of Corporate Governance Regulations for CNBS-Supervised Institutions

On October 22, 2022, in the Official Gazette No. 36,057, the Corporate Governance Regulation for Supervised Institutions (hereinafter referred to as the Corporate Governance Regulation) was published, establishing an adaptation period of 8 months. During the adaptation period, we had the opportunity to advise banks, insurance companies, and other institutions supervised by the CNBS in…

Fintech Regulatory Report
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Fintech Regulatory Report

Central America is a region experiencing growth and development in the Fintech market. In recent years, some countries have enacted laws, regulations, and rules applicable to various types of financial technology services. However, other services offered by Fintech companies are regulated through general principles of law and the primary laws of each country. Nevertheless, there…

The Impact of Tax Exemptions on Honduras’ Public Finances
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The Impact of Tax Exemptions on Honduras’ Public Finances

It is no secret that tax exemptions are at the center of debate due to their impact on public finances. Recently, SAR (Tax Administration Service) reported that in 2023, tax exemptions totaling L56,560 million were granted in Honduras. This note explores the significance of these exemptions and analyzes their effects on the country’s finances. Tax…

Electricity Amnesty in Honduras
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Electricity Amnesty in Honduras

On February 1, 2024, Decree No. 61-2023 was published in the Official Gazette, containing provisions regarding the amnesty benefit on fines, surcharges, and interests, as well as outstanding accessory obligations owed to the National Electricity Company (ENEE) as of December 1, 2023. For this amnesty to be applicable, both natural and legal persons must make…

Tax Trends in Central America 2023
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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…

Carbon credits and fiscal incentives
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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…