Sebastian Alvarado
Author Archive

Sebastian Alvarado

Senior manager with broad experience in corporate environment. Proven results in successfully leading teams in three different countries through the Latin America Region.
Approximate 10 years’ experience with global immigration and corporate environment.

MAZE team cyber-attack: is your information compromised?
BankingBusinessSecurity

As you might have heard during the weekend, the Banco de Costa Rica has been under the spotlight due to a cyber-attack on more the 5 million of transactions, which has been granted by the hacker Maze Team, so we would like to provide a summary and quick guide on

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BusinessGovernment

We previously discussed the best time to start a business during or after the COVID-19 crisis, if you missed it, click here. Let’s now talk about how to start a business in Costa Rica. Even though the process of starting a business has a bad reputation within the country, it

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What the virus has taught us so far
BusinessEconomy

The virus has quickly turned the world upside-down, changed our social habits, work routines and specially the way we do business. Some of the most significant key learning areas we should be paying attention to are: Consuming habits: people have changed and redefined their needs and what they consume. Changes

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SUGEF
BusinessGovernmentsugef

The Costa Rican Government has been focusing on improving the regulatory framework for the prevention of money laundering and financing of terrorism for years now. Such attempts have intensified with the publishing of bylaws and guidelines for Law 7786: “Law on Narcotic Drugs, Psychotropic Substances, Unauthorized Drugs, Related Activities, Legitimation of Capital and Financing Terrorism”.
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Withdrawal from the Labor Capitalization Fund
BusinessGovernmentLabor

The Labor Capitalization Fund (LCF) in Costa Rica is similar to unemployment benefits in the United States. Employers make contributions to the fund so employees can receive income in case of future unemployment.  The general rule is that this benefit becomes available after five continuous years working for the same employer,

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Registry of Transparency and Final Beneficiaries 2020 update
BusinessGovernmentTaxes

Per Resolution N° DGT-ICD-R-06-2020 published March 30, 2020, all corporations will now have until September 2020 to comply with the yearly RTFB.  But this is not the only change to the mandatory requirement, please keep reading: Ordinary declaration (yearly):  The obliged corporations will have 6 additional months to comply with the 2020 period (April to September 2020). This requirement will now

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About the Solidarity Tax
BusinessGovernmentTaxes

This afternoon, the Costa Rican government proposed applying a “solidarity tax.” The President of the Republic, Carlos Alvarado, commented that other measures and resources available to the government will be exhausted first, so the measure would be implemented only “if necessary.” Under the proposal, a mandatory contribution would be imposed

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Reduction of work schedule
BusinessLabor

Last Saturday, the President of the Republic signed a new law which allows employers to reduce the work schedule up to a 75% during the State of Emergency Declaration caused by the COVID-19 crisis. This bill has been in effect since last Monday, March 23rd, recorded as law No. 9832.

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legal considerations
ConstitutionGovernmentHuman RightsImmigrationTravel

Traveling abroad versus losing your immigration status, is it legal? The measures declared by the Government of Costa Rica today brought to my mind some memories about my Law school days as of what are the limits the Public Administration should have when it comes to restricting fundamental rights. If

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tax relief costa rica covid
BusinessGovernmentTaxes

Costa Rican Congress is expecting to pass the bill 21.845, named “Tax Relief Law Due to COVID-19,” to establish a moratorium on payment of taxes for corporations as a result of the health crisis. With this proposal, the government is looking to ease the tax burden on taxpayers. Among the measures,

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