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Ethereum, smart contracts and new challenges for lawyers and the Costa Rican regulation.

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I am a lawyer, and possibly write the beginning of a requiem for our profession or, at least, for some of the faculties that we have exercised as custodians of a series of functions of trust in the preparation, execution, and resolution of wills through multilateral contracts. Technology has been in charge of showing us that we are dispensable and, worse, that things could be more efficient without the meddling of lawyers. Among these threatening alternatives for the "guild" is the Ethereum platform, which is a technological and modern response to reach an agreement between the parties, without the help of a...

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The cryptocurrencies have an international vocation

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No government, in particular, owns or regulates them, thus avoiding fees for payments that cross borders Bitcoin is a type of digital currency or unregulated cryptocurrency (decentralized, without a central regulatory bank), designed to avoid government currency controls and simplify online transactions. The cryptocurrencies arose thanks to the birth of the blockchain, which is a technological option to ensure the integrity of the records through the web. Bitcoin is the first currency to use the blockchain globally, although the blockchain has been extrapolated for use in other industries beyond currencies. Bitcoin is a type of digital currency or unregulated cryptocurrency (decentralized, without a...

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Blockchain, cryptocurrencies and the challenge of not stumbling again with the same currency.

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 Although we hear more regularly about Bitcoin, since it became popular some years ago, other cryptocurrencies have emerged to facilitate business between companies, organizations, and entrepreneurs. By: Juan Ignacio Guzmán Fernández * Every day we read and hear about cryptocurrencies, virtual currencies and, especially Bitcoin. To understand this terminology in greater depth and, as far as possible, take advantage of the scenarios that it poses in the short and medium term, we must understand the environment in which they operate. We can say that the issue of cryptocurrencies arose thanks to the birth of the blockchain, in the nineties, which is an option...

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The Legal System in Costa Rica

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Costa Rica is a beautiful sunny country in Central America bordered by the Pacific Ocean and the Caribbean Sea on the west and east coast respectively; and also bordered by the countries of Nicaragua and Panama on the North and South coasts respectively. The Spanish speaking country runs a Democratic Republic government based on the 1949 Constitution (Constitución Politica de la República de Costa Rica) later amended in 1989. Costa Rica has a national and local government structure. Costa Rica National Government At the National Government level, there is the executive, legislative and judiciary branch. The executive comprises of the President who...

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Renting a Property in Costa Rica

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Renting a property Costa Rica is bound by law that is somewhat different from that of other countries. The landlord/ tenant relationship in Costa Rica is regulated by Law 7527 also known as  “Ley General de Arrendamientos Urbanos y Suburbanos”. This law covers everything that pertains to lease or renting agreements relating to residential and commercial buildings and other constructions that can be leased out. Law 7527 does not cover or regulate hotel rooms or bungalows, car parks, or company housing for employees. It is the norm for landlord to have terms and conditions which the tenant agrees to before taking...

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Costa Rica Banking System (how to open a bank account)

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If you are planning to live or do business in Costa Rica or you are already established in the beautiful country and for this reason you need a bank account, the few lines here is written to help you figure out how to open a Bank account in Costa Rica. Are you a legal resident holding a valid residency status in Costa Rica? If yes, then you should be allowed to open an account in Costa Rica, well if you do not have legal residency status approved, then opening a bank account in Costa Rica would depend onthe bank. In Costa...

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Private Schools in Costa Rica

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Searching for top quality education at affordable prices and other than US or Europe, Costa Rica is your best location. The Costa Ricans value education and have made it a priority in their country's development. Educational services is provided by both the public and the private sector, although private-owned schools are a bit more than the government controlled ones. There are different types of schools in Costa Rica. Some schools offer instructions up to 9th grade, others go higher up to 11th grade and even the Nation Baccalaureate. Usually public schools offer only up to 9th grade for ages 6-14 years...

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Legal Requirements to Get Married in Costa Rica

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From breathtaking beaches to lush rainforests, Costa Rica offers a beautiful setting for your special day. The destination wedding industry is well established in Costa Rica, and you'll be able to coordinate every special detail with an experienced wedding planner. Getting married in Costa Rica requires very little paperwork. There are no waiting periods, no blood tests, and no required documents other than your valid passport. You will complete a questionnaire that includes necessary data, and your Costa Rican lawyer will submit this as a sworn statement. Costa Rican law stipulates that two witnesses (non-family members) attend the wedding. They must provide...

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Environmental Law in Costa Rica

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Maintaining a country as naturally endowed and beautiful like Costa Rica does not happen by mere wishing, there has to be some deliberate measures put in place to conserve its natural beauty. This is what the environmental law framework in Costa Rica does. To achieve the above aim, several bodies and institutions have been set up by the General Environmental Law, Law 7554 of 1995. The law is a broader offshoot of the right to an healthy and ecologically balanced environment provided for in Art. 50 of the Country's Constitution. Article 1 & 2 reiterates the fact that the environment is...

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Cost of Living in Costa Rica

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Costa Rica is an amazing place to be, from the forests to the beaches, the beautiful scenic nature is a pleasure to behold. The government and locals have done a commendable job maintaining its natural appearance and resources. If you're currently living in America, Canada or any European country, and looking for a place abroad to settle and live in that is scenic and affordable, Costa Rica is your best choice. Lost of expats have come to find that cost of living in Costa Rica is very low compared with their home countries. Let's break down the costs a bit. This...

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