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Recently, the General Directorate of Customs (DGA), under the provisions of art 440 of the Regulation of the Uniform Central American Customs Code (RECAUCA), has modified the period of stay for vehicles owned by foreign tourists, Salvadorans residing abroad, and Salvadoran students residing abroad ...

In the plenary session of December 6, 2023, the Legislative Assembly of El Salvador approved a series of new reforms to the Commercial Code to implement certain provisions with innovative elements to facilitate business in the country, boost the economy, and contribute to economic growth. All of this is achieved through the modernization of commercial legislation, adapting it to the current dynamics of national and international trade, and leveraging technological advances to achieve this goal ...

Our present time is in constant evolution and Artificial Intelligence (AI) has demonstrated its ability to revolutionize entire industries and improve our quality of life in many aspects. In our global interconnectedness, it is a reality that organizations are already working on implementing AI for various purposes, including improving processes and the way they do business ...

With the recent implementation of electronic invoicing in El Salvador, it is of interest for taxpayers issuing VAT control documents to know the platforms enabled by the Tax Administration to comply with the technical and regulatory requirements established to allow the digitalization of the invoicing process. Art. 119-A of the Tax Codestates that electronic tax documents (DTE) shall be governed by the provisions of said code ...

Residency status in a foreign country is a matter of vital importance for those seeking to settle and build a life in a new place. In El Salvador, understanding the grounds for cancellation of residency is essential for foreign residents, as any non-compliance can have significant legal repercussions. The legal framework that regulates residency status in El Salvador is mainly established in theSpecial Law on Migration and Foreigners and its respective Regulations ...

With the objective of reducing the effects of climate change and guaranteeing access to energy in different latitudes, the figure of Energy Communities has been developed. These are legal organizations made up of a variety of partners that may include individuals, associations, small and medium-sized companies, government entities, among others. Climate change is a real existential threat that requires concrete and decisive action ...

The Digital Assets Law, which is in force since February 1, 2023, aims to establish a legal framework that provides legal certainty to the transfer operations of any title of digital assets used in public offerings issued in El Salvador ...

Latin Counsel  Consortium Legal, one of the leading legal firms in Central America, announces the evolution of its brand as part of its commitment to continuous improvement and staying at the forefront of the market. With the largest legal team in the region, Consortium has always been committed to excellence and innovation to provide the best service to all its clients ...

BLP | February 2023

A free transfer is when the donor (transferor) bestows a benefit or right without being paid, even though the transfer may be subject to the fulfillment of certain conditions, such as an inheritance, donation, or prize. The taxpayer in this type of conveyance is the party who accepts the benefit or right (transferee) since they receive an income. A donation deductible under article 39 of the Tax Agreement Law is exempt since it receives a different tax treatment ...

Morgan & Morgan | June 2022

Throughout my career as a banker and as an attorney, as well as through experiences with friends and their families, I have noticed that there is no topic more taboo than talking to someone about their death and how they intend to distribute their accumulated assets during their lifetime. It is incredible that, for many, this topic is so difficult to face with an objective mind to leave their estate affairs in order, no matter how small it may be ...

Morgan & Morgan | June 2022

The United Kingdom (UK) Economic Crime (Transparency and Enforcement) Act (the Act”) came into force on 15th March, 2022. A new Register of Overseas Entities will be created and held by Companies House. This new Act forms part of the UK government’s strategy to combat economic crime, while making sure that legitimate businesses continue to see the UK as a great place to invest ...

The existence of labor protection shields, which limit the number of hours that must make up an ordinary working day, is a common denominator in Central American labor legislations, and in the case of El Salvador, there is even the peculiarity that these limits are expressly determined from the imperative Constitutional Norm, which makes them even more difficult to modify than if they were established in the Secondary Legislation. The Salvadoran Constitution in its Art. 38 Ord ...

“The journey of a thousand miles begins with one step.” Lao Tzu.   On Wednesday, June 9, El Salvador published in its Official Gazette a historic event worldwide, the first law in the world that provided a digital asset, specifically the bitcoin with unrestricted and unlimited clearance power in any transactions that natural persons, public or private legal entities carry out in any capacity, therefore, bitcoin became a legal tender in El Salvador ...

Regional Labor Team   The recruitment and selection process is critical for companies and certain principles related to the dignity of the human person must be respected during its execution ...

Preliminary concepts:   Prior to conducting an analysis of the Bitcoin Law (hereinafter “BTC Law”), it is important to clarify two fundamental concepts regarding this type of digital assets:   – What is bitcoin?   A bitcoin is a decentralized digital asset created in 2009 by one or more people under the pseudonym of Satoshi Nakamoto, with the mission of being a virtual currency or an instrument of electronic exchange to acquire products and services

The judicial declaration of incapacity is the process that is followed before a family judge who after exhausting the due process declares a final judgment in which determines that a person suffers from a cause of incapacity that is that a person who must be fully capable to exercise his or her rights and obligation on his or her own is not, being necessary to carry out the proceedings where he or she is declared as incapable ...

Advance payment can be understood as: “… the payment made before the occurrence of the generating event that constitutes the future and uncertain event on which the legal force of the obligation depends” (Giulani Fonrouge and Susana Navarrine in “Procedimiento Tributario”, Editorial de Palma, page 159) ...

Morgan & Morgan | September 2021

In 2019 at the World Economic Forum, Antonio Neri, CEO of Hewlett Packard said “Data is the new currency”. This analogy has become very popular because data is now considered one of the most valuablecommodities. In the European Union (EU), data protection is a fundamental right, and the General Data Protection Regulation (GDPR) which came into force on May 25th, 2018, isthe framework for protecting that right ...

On August 31st, 2021, with 64 votes the Congress approved the Law regarding the Creation of the Bitcoin Trust (“FIDEBITCOIN”), by means of which a trust is constituted in the Development Bank of the Republic of El Salvador (“BANDESAL”), to benefit the users of the National Wallet, represented by the Republic of El Salvador, whose purpose will be to support the alternatives for bitcoin convertibility provided by the Salvadoran Government ...

On August 27, 2021, the Regulation of the Bitcoin Law (the “Regulation”) was published in the Official Gazette of El Salvador. The Regulations will enter into force on September 8, one day after the entry into force of the Bitcoin Law ...

In El Salvador, the Bitcoin Law was approved by the Legislative Assembly and published in the Official Gazette last June 9th of this year, establishing avacatio legisof ninety days from its publication; in that sense, its entry into force is scheduled for next September 7th ...

Morgan & Morgan | June 2021

The Ministry of Security, through theExecutive Decree No. 199 of May 7th, 2021(hereinafter the “Decree”), adjusts the requirements for obtaining atemporary residence permitand apermanent residence permitas a Forest Investor, as follows: The forest investor residence permit may be requested in the following modalities: (i) temporary residence permit, (ii) permanent residence permit in 2 stages, and (iii) permanent residence permit in 1 stage ...

Morgan & Morgan | May 2021

The Government of the Republic of Panama, in response to the new modalities of work worldwide, among these, remote working, considered it appropriate to create this subcategory within the Non-Resident Visas. Executive Decree No. 198 of May 7th, 2021 (hereinafter, the “Decree”), published in the electronic Official Gazette on May 20th, 2021, creates the Short Stay Visa as a Remote Worker. Panama, May 21, 2021 ...

Morgan & Morgan | May 2021

The Ministry of Public Security modifies the requirements to request the residence permit for foreigners from specific countries who maintain friendly professional, economic and investment relationship with the Republic of Panama. Panama, May 24, 2021. The Ministry of Public Security through Executive Decree No ...

Morgan & Morgan | April 2021

What is the CTA? The CTA was enacted on January 1st, 2021 as part of the National Defense Authorization Act to prevent the use of companies to evade anti-money laundering rules or to hide other illegal activities. Under the CTA companies will be required to report information regarding its beneficial owners with a beneficial ownership registry maintained by the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) ...

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