Consortium Legal - El Salvador

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. 6° establishes that: “The ordinary working day shall not exceed eight hours and the working week shall not exceed forty-four hours”...

“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...

The Development Banking System (SBD) was created in 2008 by Law N ° 8634, reformed in 2014 by Law N ° 9274. As its name indicates, it is a system that comprises organizations of different nature, whose purpose is to finance and promote technically and economically feasible productive projects, in accordance with the country’s development model in relation to the social mobility of the system’s beneficiaries, which are defined in article 6 of the Development Banking System Law...

On May 12, 2021, the Congress of the Republic approved 3 amendments to Decree 65-89 regulating the Law of Free Zones in Guatemala through Decree 6-21. In accordance with this amendment, the following was modified in bold type: 1. Article 1 of the law was amended in which it was established that “The purpose of this law is to encourage and regulate the establishment in the country of Free Trade Zones, which promote national development through the activities carried out in them, particularly in actions aimed at strengthening foreign trade, promoting new options for domestic and foreign investment, employment generation and technology transfer”. 2...