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JANUARY 2010
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.gif) Free Zone Reform Endorsed by Executive Branch
The bill to reform the Law on the Free Zone Regime was endorsed by the Executive Branch including the President of the Republic, the Minister of Commerce and the Minister of Finance on January 12 of this year at the Bridgestone Costa Rica facilities and will become law once published in the Official Gazette.
This reform will have a significant impact on the country because it complies with the commitments made by Costa Rica before the World Trade Organization with regard to removing incentives under one export criteria by the year 2015. This new law provides legal security for those companies under the “manufacturing” category of the Free Zone Regime and creates a new category that will provide the appropriate incentive framework for those companies and to those who seek acceptance in the future. The above helps to maintain and improve the investment climate in Costa Rica, strengthening comparative and competitive advantages of the country in other markets with which we compete to attract Direct Foreign Investment (DFI). This reform also creates new incentives for suppliers companies that render their services to companies established within Free zones and promotes investment in less developed areas of the country.
Among the most important reforms is the creation of a new beneficiary company category with the double intention of creating an incentive framework in accord with the WTO commitments those for manufacturing companies to mitigate the impact, once their current incentives expire, and continue to reap the benefits offered under this regime. This category will be defined by strategic sectors, to be determined by a special commission which the Executive Branch will create within the next few months.
Finally, the Ministry of Foreign Trade, in completing this important step, will update the Regulations of the Free Zone Regime Law to comply with the new guidelines in effect.
If you or your company is interested in receiving further information on this reform and wish to keep informed on the creation of the new regulations to be implemented under this reform of the Regulations of the Free Zone Law, please don’t hesitate to contact us at our new centralized address: solsab@lawfirmcr.com |
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SEPTEMBER 2009
FREE ZONE LAW AMENDMENTS PROGRESS IN LEGISLATIVE ASSEMBLY
Soley, Saborío, & Asociados has been monitoring, participating and providing legal advice to most of its Free Zone clients in connection with the legislative process subject to the bill of law that purport to reform the existent Free Trade Zone Law # 7210 .
As part of this task, recently our partner Elías Soley G. has participated as speaker in an event organized by AMCHAM and IFA ( International Fiscal Association) named “Free Trade Zones: its reform and future”. At this opportunity he joined others speakers that represents private and public sector (i.e. Mrs. Nancy Palmintere - INTEL Finance and Enterprise Services Vice-President-, Mr. Jorge Brenes - President of the Free Trade Zone Association-, PROCOMER - Free Zone Authority- and Chamber of Industries representatives). It was an appropriate time to analyze the outcome of the Free Trade Zone sector during the last two decades and to reinforce the importance of the reform that is being discussed in the Legislative Economics Committee.
AMCHAM – IFA event held in August , 2009
The main issues of the Free Zone Law reform that is going to be voted in the Plenary Commission of Costa Rican Congress within the next weeks, are the following:
- A new business category was created for the manufacturing companies, so they can migrate and still be a member of the program. The base for this category will be strategic sectors to be defined by the Executive Branch based on the guidelines that the reform to this law establishes. The same benefits will be in place, except for the modification made in the income tax exemption, the Legislative Commission has defined as 6% for the first period of the Regime.
- Full income tax exemption (100%) for those projects investing more than US $10,000,000 in a eight years period with a minimum of 100 employees. 100% exemption from income tax for a period of eight years and 50% for the following four years.
- Free Zone companies suppliers will be able to apply for this status, but they must comply with a new investment requirement and must dedicate at least 40% of their production or services to companies in a Free Trade Zone.
- To enjoy the benefits in the program in any of the categories provided for in Article 17 of the Law and set up in an industrial park outside the GMA (Great Metropolitan Area), companies must make an initial investment of at least US $100,000. They may also be authorized to set up outside an industrial park provided that the investment is at least US $500,000.
In order to become a Law of the country, this Bill requires to be sent from the Economic Commission to the Plenary Commission. An unanimous affirmative vote was granted to the Bill by the aforesaid Commission, thus the bill will be added to the Plenary Agenda during the first debate session. Once approved by the Plenary Commission of the Legislative Assembly, the Bill will be sent to the Executive Branch for enforcement and publication.
Soley, Saborío, & Asociados, through its corporate and international trade Division, has participated in providing advice in relation to this amendment to the Free Zone Law.
In case you need further information about this matter, please do not hesitate to contact us at (506) 2290-7220 or contact us at solsab@lawfirmcr.com. |
AuGUST 2009
CLINICAL STUDY FOR THE DEVELOPMENT OF A VACCINE AGAINST THE AH1N1 VIRUS
There was a recent publication in the Costa Rican print media about the NOVARTIS pharmaceutical company choosing the Instituto de Atención Pediátrica (The Pediatric Care Institute - IAP) and its team of researchers led by the main researcher, Dr. Adriano Arguedas Mohs, to carry out a clinical study in Costa Rica to develop a prototype of the vaccine against the A1H1N1 virus.
The vaccine type that will be tested in Costa Rica will be subject to similar studies in two other countries; the intent is to seek to generate scientific data to back up the medicine’s safety and effectiveness.
Recently, the UCIMED Ethical-Scientific Committee approved the research protocol and the scientific, legal, and administrative documentation presented by the IAP, declaring that it had fulfilled all the requirements for the regulatory process to carry out the study. This reaffirms that they match the guidelines set by the applicable Costa Rican legislation.
Our firm, Soley, Saborío & Asociados, is assisting the IAP in the regulatory process needed to comply with the local legislation. Attorneys Elías Soley (partner) and Arturo Guerrero (associate attorney) participated on a team of attorneys who saw to this case.
Should you need any further information on this subject, our clinical research practice area, or any other service, please do not hesitate to contact us at our main e-mail address: solsab@lawfirmcr.com. |
JUNE 2009
NEW MEMBER OF THE LAW FIRM
Soley, Saborío & Asociados (SS&A), announces the incorporation of attorney Milena Jaikel Gazel.
Mrs. Milena Jaikel Gazel has a Law Degree in Universidad Libre de Derecho and a Masters degree in International Law at the “Instituto de Empresa” of Madrid, Spain. Her participation will strengthen our professional team practicing corporate law and foreign direct investment. With this incorporation SS&A seeks to strengthen its corporate practice with emphasis on investment matters, free zones and contracting.
E-mail contact: mjaikel@lawfirmcr.com
In case you need further information about this news, we invite you to contact us at the following address solsab@lawfirmcr.com |
MAY 2009
AMENDMENT TO THE FREE ZONE LAW SENT TO
LEGISLATIVE ASSEMBLY
On April 21st, 2009 the Office of the President of Costa Rica and the Ministry of Foreign Trade had sent to the Legislative Assembly a legislative statement that intends to amend the Free Zone Law. The main goal of the aforesaid reform is to reach the double purpose of achieving not only the World Trade Organization (WTO) requirements, but also that Costa Rica remains as an attractive destination point for local and foreign direct investment.
This proposal will bring benefits to the small and medium national business, as well as to the high quality purveyors, according to the Ministry.
The legislative statement mainly propose to establish a five percent (5%) for the income tax to the Free Zone Companies that qualifies as part of one of the country’s strategic zone, or also if they are install at a minor relative development zone. At this moment the companies are free from the payment of this tax, so, according to the WTO, this regime has to be modified before the year 2015.
With this improvement, the reference for the exportation requirements to obtain the benefits will be eliminated; also it will establish the concept of a strategic zone, and it will maintain the actual conditions of the regime for the companies that fulfill certain levels of investments and employment.
Please do not hesitate to contact us at our central e-mail address solsab@lawfirmcr.com, for additional information about this issue. |
april 2009
CHEAPER COMMUNITY TRADE MARKS FROM NEXT MAY
On 1 May 2009 Official fees for obtaining Community trade mark (CTM) registrations will be significantly reduced in the light of a substantial cash surplus built up by OHIM, (the Office for Harmonization in the Internal Market, the not for profit organisation responsible for CTMs).
The total official fees for obtaining a CTM will be reduced from 1.600,00 Euros for an electronically filed application in up to three classes of goods or services to just 900,00 Euros (and 1.050,00 Euros for paper filed applications).
Rather than dividing official fees between application and registration, all the official fees will be paid at the outset on application. A separate registration fee which included a fee of 150,00 Euros per additional class over three has effectively been abolished, which is particularly good news for the proprietors of trade marks with a specification covering numerous classes.
There will also be fee reductions for CTMs filed via the Madrid Protocol, from 1450,00 Euros to 870,00 Euros.
Transitional Provisions
Under the transitional provisions governing the new fee structure, if a pending CTM application has not yet passed to the registration stage (where the OHIM issues an invitation to pay the registration fee), by 1 May 2009 no registration fee will now be payable, resulting in a total official fee of 750,00 Euros for an electronically filed application or 900,00 Euros for a paper filed application.
Thus if a new CTM application is filed before 1 May 2009 it will be cheaper than when the new fee structure comes into effect on 1 May 2009. As a result, if you are considering applying for a CTM, submitting the application to OHIM before the new fees come into effect will save at least €150 and €500 in the case of collective marks.
For Madrid Protocol designations, the new fees take effect 3 months after the Commission notifies WIPO, i.e. 3 months after 1 May 2009.
In removing an additional payment from the registration process it is hoped that the overall time from filing to registration will be reduced by at least eight to ten weeks, although this may be over optimistic.
For additional information about this issue, please feel free to contact us at our central e-mail address solsab@lawfirmcr.com. |
MARCH 2009
International expansion through link to MSI Global Alliance
Soley, Saborío & Asociados (SS&A), (www.lawfirmcr.com) has concluded a membership agreement with leading international association of independent professional firms MSI Global Alliance, enabling both organisations to broaden their geographic service capabilities.
MSI Global Alliance (MSI) had announced in London the admission of Soley, Saborío & Asociados (SS&A), as well as all the other four law firm members of Central American law firm network Grupo Jurídico Centroamericano (GJCA) to its worldwide membership of independent law and accountancy firms. The agreement extends MSI’s geographic coverage to Costa Rica by means of the acceptance of SS&A, as well as to the rest of the Central American region with the acceptance of GJCA affiliates.
James Mendelssohn, MSI's Chief Executive, says: “Central American countries are fast opening up their markets to foreign investors and taking steps towards closer regional integration. It is therefore hugely important that the clients of our member firms are able to access leading Central American law firms that meet MSI’s stringent quality and service standards and that share the same values as their own local advisors.
“The appointment of these respected, high calibre law firms demonstrates our commitment to building a strong membership in Latin America. All the firms within GJC are highly experienced in providing services including corporate law, intellectual property law, banking law, real estate law, constitutional law and dispute resolution to local and multinational companies.”
GJC Chairman Elias Soley, Partner of Soley, Saborío & Asociados (SS&A) comments: "MSI Global Alliance presents us with a valuable opportunity to expand our firms' international practices and to assist MSI's worldwide members with matters in the Central American region by ensuring high quality professional support for all legal matters in our countries.”
The agreement with GJC follows the admission last year of law firms García Menéndez Abogados in Buenos Aires and Campos Mello Pontes Vinci Schiller Advogados in Brazil, and demonstrates MSI's ambitions to provide multinational corporations in the Latin American region with a credible alternative to the large, multi-office law and accountancy firms.
About MSI Global Alliance
MSI is an international association of independent professional firms, with over 250 member firms in 100 countries. MSI was formed in 1990 in response to the growing need for cross-border co-operation between professional services firms. For more information on MSI and its member firms, please go to www.msiglobal.org
For more information on this issue, please feel free to contact us at our central e-mail address solsab@lawfirmcr.com.
February 2009 TELECOMMUNICATIONS REGULATOR ENTERED IN OFFICE (SUTEL)
Four members of the Council of Telecommunications - maximum organ of SUTEL- have been already appointed and ratified by the Legislative Assembly.
As of January 26th, 2009 are set on their duties the appointees, Ms. Maryleana Méndez J., and Mr. Carlos Raúl Gutiérrez Gutiérrez, Mr. George Petrie Miley Rojas and Mr. Walter Herrera Carrillo.
Since February 13th, 2009, SUTEL has been administratively operating as regulator. Henceforth, once legally installed SUTEL appointees, by operation of law, it trigger some rights and obligations for those interested parties of the telecommunications sector, as the following:
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SUTEL receives directly the requests of authorization for those who wish:
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- Operate and exploit public networks of telecommunications which do not require usage of radio electric spectrum.
- Rendering telecommunications services available to consumers through public networks of telecommunications non operated or exploited by themselves.
- Operate private network of telecommunications which do not require usage of radioelectric spectrum
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In accordance with the Transitory V of the General Law of Telecommunications, the spectrum concessionaires, public or private, as well as those who are authorize to broadcast frequencies, within a three months term as of January 26th, shall submit a report in which frequencies assigned are disclosed, as well as the use that they are making of each of them.
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If you have a specific question or interest in the aforementioned subject , please feel free to contact us at solsab@lawfirmcr.com
January 2009
Medical Devices Sterilizer Begins Operations
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Last January 20, 2009, the company BeamOne de Costa Rica SRL formally inaugurated its new medical equipment sterilization plant in the El Coyol Free Trade Zone in Alajuela. This new company is a subsidiary of BeamOne LLC, a company based in San Diego, California, the United States of America. With the opening of BeamOne operations in Costa Rica, the competitiveness of the medical device sector in the country will be strengthened. It will make the investment opportunities in the country for companies related to that sector more attractive, since the companies that produce medical equipment will be able to sterilize their products in country. There will be no need to send them to the United States or other places (such as Puerto Rico or the Dominican Republic), which is what is currently being done. |
With this new operation, without question the technical device technological and industrial cluster will be strengthened. This represents a significant benefit for those companies that have production facilities in Costa Rica since they can handle sterilizing their products in Costa Rica. They may possibly market their products from here to the Asian and European markets, saving money on having to go through the United States which, up to this point, has been mandatory since there are no suitable sterilization services for that industry.
Soley, Saborío & Asociados, through its corporate and international trade division, has participated in providing advice in relation to the project for BEAM ONE COSTA RICA SRL, providing all the legal services needed to incorporate this company in Costa Rica and to develop its individual activities under the auspices of the Free Trade Zone Program. |
November 2008
 Hologic expands operations in costa rica
Last Thursday, November 6, 2008, HOLOGIC Surgical Products Costa Rica, S.A., a Free Zone company, dedicated to manufacturing medical devices to improve women’s quality of life, expanded its operations in Costa Rica.
The company has been in operation in Costa Rica for several years. It started out under the NOVACEPT name but in 2004 it become CYTYC Surgical Products. This company opened its doors in Global Park in Heredia. At that time, the company planned to create 120 direct jobs in its high-technology plant and concentrated on producing the device known as “Novasure.” This device treats excessive menstrual bleeding that affects close to 20% of women at some point in their lives.
The company grew even more than it had projected. In their new industrial plant located in the Coyol Free Trade Zone in Alajuela Province currently employees 400 people and expects to expand to 550 direct jobs in the near future.
These new facilities are a substantial expansion for the company’s industrial operations - the new industrial plant has 15,000 square meters, approximately three times the area that the company had in Global Park in Heredia.
Soley, Saborío & Asociados, through its corporate and international trade division, has participated in supporting the HOLOGIC SURGICAL PRODUCTS COSTA RICA, S.A. project by providing the legal services needed to carry out its industrial activities under the auspices of the Free Trade Zone program. Emilia Saborío (esaborio@lawfirmcr.com) was the head of the team of attorneys who worked on the project.
August 2008
NEW ALLIANCE WITH THE Grupo Jurídico Centroamericano
A permanent alliance was recently finalized with the Grupo Jurídico Centroamericano by the Spanish law firm Rebollo Abogados (http://www.rebollo-abogados.com). The firm has offices in Oviedo, Spain, and Shanghai, China. The office in China is headed by Javier Pérez Bendaña, Esq., whose mission is to provide guidance and legal services in that country.
The idea behind this alliance is to consolidate the Grupo Jurídico Centroamericano‘s international presence with its high added value at times when Central America is negotiating an international free trade agreement with the European Union. This agreement will encourage and increase relations between both regions and calls for effective legal advice for companies that would like to export to the Central American countries or from countries in the Union.
On September 23, Rebollo Abogados received a rating as an international legal advisor after a public hearing by the Economic Development Institute of the Principality of Asturias (IDEPA) and is part of the International Legal Advisory Network for Asturian Companies (a global network), created by the IDEPA.
Rebollo Abogados has received the rating for the following target countries: China, Argentina, Costa Rica, El Salvador, Guatemala, Honduras, México, Nicaragua y Panamá.
Soley, Saborío & Asociados (www.lawfirmcr.com) is pleased to announce this event to its clientele and congratulate Rebollo Abogados on this important achievement.
For more information about the services provided by Rebollo Abogados and the firms affiliated with the Grupo Jurídico Centroamericano, please contact us at solsab@lawfirmcr.com.
July 2008
GENERAL TELECOMMUNICATION LAW ENTERS INTO EFFECT
On June 30th, 2008, the so called General Telecommunications Law was published in the Official Newspaper La Gazette, entering into effect.
Notwithstanding, for appropriate and complete regulation and full operation of the telecommunications market, it is necessary the fulfillment of the following events:
- Effectiveness of the Bill referred to as "Law for the Strengthening and Modernization of Public Entities in the Telecommunications Sector”.
This new legislation is needed to supplement the legal framework created by the General Telecommunications Law because it defines the powers and role of the supervising authority (Ministry of the Environment, Energy and Telecommunications, MINAET (Spanish acronym), the specialized regulating body (SUTEL in Spanish) and the principal operator for the State (ICE and its subsidiaries). Within a context of opening up Telecommunications, it confers upon the Public Services Regulatory Authority the powers and attributions necessary for the regulation of operators in the telecommunications market and the application of sanctions. It also creates a Telecommunications Superintendent (SUTEL) that will be charged with regulating the Sector, as well as the different actors in the sector together with sector control which falls to the Ministry of the Environment, Energy and Telecommunications, MINAET (Spanish acronym).
This Bill is being discussed in Congress and, hopefully, for next August 2008 final approval will take place.
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Issuance of bylaws / regulations
Within nine months as of June 30th 2008, the Executive Branch of the Government in liaise with the Public Utilities Regulatory Authority should issue the necessary bylaws for the appropriate regulation and full market operation of this law. Such regulations comprise Bylaws of the General Telecommunication Law as well as Management and Control of the Spectrum, National Plan for Attribution of Radioelectric Frequencies, Numbering Plan and Protective Measures of Private Communications Bylaw, among others.
Likewise, the Public Utilities Regulatory Authority shall dictate technical bylaws related to: access and interconnectivity, universal access, service and solidarity, regime toward protection of final users, Telecommunications Superintendence Internal Bylaws, quality services, market competition rules, tariff and price fixing, Fundamental Plan for Connection, Transmission and Synchronization and whatever other bylaws deemed necessary to regulate telecommunication market.
We shall keep sector related clients informed through new updates of this bulletin. However, if you should have a specific question of interest to you, please feel free to contact us at solsab@lawfirmcr.com.
JUNE 2008
BILL OF LAW ON THE STRENGTHENING AND MODERNIZATION OF
PUBLIC ENTITIES IN THE TELECOMMUNICATIONS SECTOR RECEIVES FIRST PASSAGE IN THE LEGISLATURE
On May 20, 2008 the General Assembly of the Republic of Costa Rica passed in first debate the Bill of Law referred to as "Law for the Strengthening and Modernization of Public Entities in the Telecommunications Sector”. This law is part of the implementation agenda for the Free Trade Agreement with the United States and is supplemental to the recently approved General Telecommunications Law that defines the framework for opening up this sector currently awaiting publication in the Official Daily Gazette to become effective.
For this "Law for the Strengthening and Modernization of Public Entities in the Telecommunications Sector” to become effective, it must be passed in second and then final debate. Voting has been suspended while a question on the constitutionality of the project is resolved before the IV Chamber of the Supreme Court of Justice (this court has one month to reach a decision, as of May 26)
This new legislation is needed to supplement the legal framework created by the General Telecommunications Law (recently passed by the Legislature) because it defines the powers and role of the supervising authority (Ministry of the Environment, Energy and Telecommunications, MINAET (Spanish acronym), the specialized regulating body (SUTEL in Spanish) and the principal operator for the State (ICE and its subsidiaries). Within a context of opening up Telecommunications, it confers upon the Public Services Regulatory Authority the powers and attributions necessary for the regulation of operators in the telecommunications market and the application of sanctions. It also creates a Telecommunications Superintendent (SUTEL in Spanish) that will be charged with regulating the Sector, as well as the different actors in the sector together with sector control which falls to the Ministry of the Environment, Energy and Telecommunications, MINAET (Spanish acronym). Finally, it seeks to provide legal instruments to the Costa Rica Electricity Institute (ICE in Spanish) and its subsidiary companies so that they can face competition efficiently and streamline acquisition and services procedures.
For more information on this law or topics related to the opening up of the telecommunications market, please direct your inquiries to our main email address solsab@lawfirmcr.com or contact us at (506) 2290 – 7220 ext. 17.
maY 2008
TELECOMMUNICATIONS OPENING IS LAW OF THE REPUBLIC
May 14, 2008 - The Legislative Assembly of Costa Rica passed at second debate the General Telecommunications Bill of Law.
The new regulation opens the telecommunications sector allowing private and state-owned companies to effectively compete to directly provide customers services such as private networks, Internet, mobile wireless telephony as well as others that may arise by virtue of the technological improvements provided these companies get concessions and state approval.
This new bill of law will come into effect as of its publication in the Official Newspaper “The Gazette”.
However, according to this Bill of Law, within nine months as of its publication, the Executive Power together with the Public Utilities Regulatory Authority should issue the necessary bylaws for the appropriate regulation and full market operation of this law.
We shall keep sector related clients informed through new updates of this bulletin. However, if you should have a specific question of interest to you, please feel free to contact us at solsab@lawfirmcr.com.
APRIL 2008
TELECOMUNICATIONS BILL OF LAW APPROVED AT FIRST DEBATE IN THE LEGISLATURE
On April 30, 2008, the Legislative Assembly of Costa Rica passed the General Telecommunications Bill of Law at first debate. This new law is aimed at opening the sector to competition and defining the conditions for participation in this market. The initiative is part of the implementation agenda for the Free Trade Agreement (CAFTA) with the United States.
This law had been approved at first debate on February 13th last, but the Constitutional Chamber of the Supreme Court of Justice found fault with the legislative proceedings thus requiring correction by legislators and a new vote.
For the bill of law to take effect it must be approved at a second and then a final debate. No date has been set for this vote as yet. The law must subsequently be published in the Official Daily “The Gazette” for it to become effective.
Expectations are that the date for the second debate will be set during the week of Monday, May 12th of the current year, after five legislative sessions during which the congressmen will solely discuss and comment on the President of the Republic’s State of the Nation Address on May first and members of the legislative commissions are designated and sworn in.
We shall keep sector related clients informed through new updates of this bulletin. However, if you should have a specific question of interest to you, please feel free to contact us at solsab@lawfirmcr.com.
MARCH 2008
New General Telecommunications Law Moves Forward
Bill number 16398, or the General Telecommunications Law (GTL), was debated for the first time in the Legislative Assembly on February 13, 2008, passing by a majority of the legislators in attendance.
The bill opens up the telecommunications sector and sets operating conditions for this market. In addition to meeting the commitment assumed by the country in negotiating the free trade agreement with Central America, the Dominican Republic and the United States (DR-CAFTA), the bill seeks to create a basis for developing a safe, competitive market in Costa Rica for the different telecommunications service providers.
From an organizational standpoint, the GTL separates the roles of the State in telecommunications, with direction to remain in the hands of the Ministry of the Environment and Telecommunications while regulation would go to the Telecommunications Superintendence and operation to the Costa Rican Electricity Institute (ICE) and its subsidiaries.
The bill also creates the National Telecommunications Fund (FONATEL) to develop the principles of universal service and access. In addition to regulating radio spectrum concessions and establishing licensing for activities not requiring a spectrum concession, it sets a fee schedule for operators and sanctions for noncompliance.
Furthermore, the GTL seeks to develop a freely competitive telecommunications market, allowing operators to choose the technologies they wish to use, as long as common standards are met that comply with the requirements needed for achieving sectoral policy goals and objectives. Under this concept the principle is to guarantee convergent technologies without major regulatory hurdles.
The GTL is slated for second debate in the Legislative Assembly on Monday, February 18, 2008. Nevertheless, it was sent for constitutional review to the Supreme Court’s Constitutional Chamber within the allowed period of time; the court has one calendar month to issue its qualified opinion after which the bill will be returned to the Legislative Assembly, either for final approval or for correcting any constitutional clashes that may have been detected. If the bill is found constitutional by the Constitutional Chamber, it will go to second debate, where discussion will focus solely on whether the new law should be promulgated or not.
For more information on this issue, please feel free to contact us at our central e-mail address solsab@lawfirmcr.com or at (506) 2290 7220, extension 17.
February 2008
NEW MEMBERS OF THE LAW FIRM
Soley, Saborío & Asociados (SS&A) , announces the incorporation of attorneys Sinda Góchez Vargas and Arturo Guerrero Díaz .
Mrs. Sinda Góchez joined the Firm since November 2007 and will support and enrich the Firm’s corporate law practice in litigation, commercial and labor matters and consultancy.
E-mail contact: sgochez@lawfirmcr.com
Mr. Arturo Guerrero joins SS&A after serving several years as attorney and head of legal departments of local finance and banking institutions. With his incorporation, SS&A will fortify its corporate law practice in contractual and finance matters.
E-mail contact: aguerrero@lawfirmcr.com
Should you require any further information about this news, please contact us at solsab@lawfirmcr.com
EXTENSION PROVIDED BY THE WTO
Costa Rica, among other nations, was scheduled to eliminate export benefits, among them the tax incentives manufacturing companies in the Free Trade Zone regime enjoyed. The date provided to comply with this mandate was set to be December 31, 2009.
Last July 27, the World Trade Organization (WTO) approved a last and final extension to the term in which subsidies and benefits for export products had to be eliminated until the year 2015. With this extension, it is possible to guarantee the continuation of the regime currently in effect and there is further space to develop new incentive models that ensure the level of competitiveness in Costa Rica to attract investments.
Apart from this concession, the WTO has been clear that the period between 2013 and 2015 should be focused on plans to eliminate direct subsidies and the search for new projects compatible with the WTO guidelines. In this sense, the Government of the Republic of Costa Rica has announced its commitment to continue preparing the legal amendments necessary to ensure new incentive models based on other criteria accepted by the WTO standards rather than export criteria. Among them, these are some of the criteria evaluated for this purpose:
- Granting benefits to pioneering companies (i.e. those that represent attracting new technologies);
- Investments that mean employment generation in rural or marginal areas
- Investments in training for the company’s staff.
The decision made by the WTO has been very relevant to the Costa Rican exporting sector, and in particular for the sector developing export activity under the free trade area regime. This is because the original term would expires in six months and there were no clear alternatives yet to be proposed in order to provide continuity to the incentives that represent an important element of competitiveness for the country.
Should you require any further information about this news, please contact us at solsab@lawfirmcr.com
FIRST CLINICAL RESEARCH STUDY APPROVED ACCORDING TO THE NEW REGULATIONS FOR CLINICAL RESEARCH
After going through a detailed step-by-step regulatory process, last March 22, 2007, the Pediatric Care Institute (IAP: Instituto de Atención Pediátrica), whose legal counsel is the Law Firm Soley, Saborío & Asociados (http://www.lawfirmcr.com), finally completed a long process towards obtaining the approval and countersignature by the Costa Rican General Comptroller’s Office of the agreement subscribed by and between the Pediatric Care Institute and Caja Costarricense de Seguro Social (CCSS). This agreement regulates the terms and conditions by means of which the “Multinational Latin American Epidemiological Monitoring Study of the Invasive Pneumococcal Disease” shall be executed. This study is promoted by Wyeth Pharmaceuticals Inc. (http://www.wyeth.com/), with the support of the Latin American Association of Pediatric Infectology and the World Association of Pediatric Infectology.
It is important to underscore that this study was declared of public and national interest by the Costa Rican government, by Executive Decree No. 33388-S (Official newspaper La Gaceta #2065 of October 27, 2006), as a positive response to a detailed analysis of this scientific project by the Ministry of Health and CCSS. The said institutions clearly determined the public need of this study, considering it fundamental to learn about the epidemiology of such illnesses in the country; so that the Ministry of Health can make objective, scientific decisions about the introduction of new vaccines into the program of basic immunizations.
The study represents a great opportunity for the Health authorities to have access to scientific data about our population, in order to adequately support the decisions they make regarding sanitary planning, acquisition of medicines, establishment of health care policies; and also to make more efficient pharmacological-economic analyses. In addition, the implementation of this study in Costa Rica, effectively responds to the (World Health Organization (WHO) recommendation, in the sense that each country should be aware of the burden represented by the pneumococcal disease in their area.
Costa Rica was pointed out as one of the countries where there is no scientific data about the incidence of the invasive pneumococcal disease. In general, in Latin America there is lack of information about the pneumococcal epidemiology. Internationally, this important study is sponsored by the pharmaceutical company Wyeth Pharmaceuticals Inc. In addition to Costa Rica, countries such as Mexico, Colombia and Brasil participate in this multicentric study.
The Instituto de Atención Pediátrica (Pediatric Care Institute) dedicates to clinical research in Costa Rica; and it has achieved ample experience in the area of pediatrics. It has an extensive and impeccable record, at a national and international levels; and it is responsible for the preparation of scientific articles that have been submitted to international discussions; thus, contributing directly and effectively to the development of medical sciences.
In the development of clinical studies (both, those whose main objective is the development of a new drug, and those within an epidemiological or observational study, such as the aforementioned), in addition to the company sponsoring the study, also regulatory entities, physicians, academic investigators and patients participate. Other organizations are also contracted to administer and implement the research on a local basis. In the case of Costa Rica, they are identified as the “Institutions In Charge of the Study”
The successful completion of this regulatory process represents for Soley, Saborío & Asociados a new professional achievement, which consolidates it as a pioneer Law Firm in the area of legal counsel to clinical research companies in Costa Rica; thus enlarging its important achievements in its Corporate Practice.
Soley, Saborío & Asociados, through its division of Corporate and Intellectual Property Practice, provided legal support throughout the negotiation process of the IAP, as well as in the procurement of the necessary approvals for the “Multinational Latin American Epidemiological Monitoring Study of the Invasive Pneumococcal Disease;” and finally, in the formalization of this project.
Attorneys at Law Elías Soley Gutiérrez (esoley@lawfirmcr.com) and Emilia Saborío Pozuelo (esaborio@lawfirmcr.com) directed the team of lawyers who participated in this task.
For additional information about Soley, Saborío & Asociados, we invite you to visit www.lawfirmcr.com . |
