Part of our team is representing Guzmán Ariza at the 43rd edition of FITUR, the International Tourism Trade Fair is the global meeting point for tourism professionals and the leading trade fair for inbound and outbound markets in Ibero-America and is held annually in Madrid, Spain.
The Dominican Republic pavilion was attended by the President of the Republic, Luis Abinader and the Minister of Tourism, David Collado.
Santo Domingo Dominican Republic. – The Dominican firm Guzman Ariza provided advice to the company Emerald Solar Energy, SRL, a subsidiary of the Canadian group Potentia Renewables, in a financing for $ 37 million USD through the Closed Free Investment Fund for the Development of Dominican Infrastructures I, administered by Administradora de Fondos de Inversión Universal, S. A.
The loan proceeds will be used mainly to refinance the existing debt and finance the operation of a 25.0 MW photovoltaic power plant located in Barahona, Dominican Republic.
CIFI Latam, S. A. acted as Mandated Lead Arranger. Hunton Andrews Kurth’s US firm, LLP was hired by CIFI Latam as an international advisor. Dominican legal advice for CIFI Latam and the Fund was provided by Headrick Rizik Álvarez & Fernandez, while Bobadilla – Law Office acted as special advisor to AFI Universal and the Fund. Emerald was represented by Akin Gump Strauss Hauer & Feld, LLP as legal advisor in the United States and Guzmán Ariza as advisor in the Dominican Republic.
Guzmán Ariza’s lawyers were partners Fabio Guzmán Saladín and Alberto Reyes Báez, and attorney Pamela Benzán Arbaje.
Guzmán Ariza is in attendance at the INTA 2020 Annual Meeting, which takes place from November 16 until the 21st, as a virtual event.
IP senior counsel Leandro Corral will be representing our firm’s IP Department. Leandro stated that “Although we can’t meet in person this year, we would like to thank INTA for all its efforts in making this conference happen regardless of the pandemic, and for providing as much value as possible to all attendees, considering the limitations brought forth by this situation.”
Leandro is looking forward to hearing from attendees about their IP needs and to provide creative solutions regarding their IP strategies. If you would like to arrange a virtual meeting, please do not hesitate to reach out to him at lcorral@drlawyer.com.
Guzmán Ariza is honored to be featured by Latin Lawyer in their National 2020 directory as a recommended firm in the Dominican Republic.
Featured practice areas include real estate & tourism, corporate and M&A, and banking & finance, as well as and key partners, Fabio Guzmán-Ariza, Fabio Guzmán-Saladín and Alfredo Guzmán-Saladín.
In their analysis they go on to say that “Guzmán Ariza is one of the oldest law firms in this chapter, headquartered in Santo Domingo and present in key business and tourism centers in the Dominican Republic, it has a full service offering with a focus on corporate and finance work for international companies.”
We are delighted to announce that we have been named one of the top law firms in the Dominican Republic in The Legal 500’s Latin America 2021 edition, earning a Tier 1 ranking for our Real Estate and Tourism and Labour and Employment practice. The firm was also recognized as a Leading Firm in Corporate and Finance and Dispute Resolution.
Our managing partner, Fabio Guzmán Ariza, was honored with the elite Leading Individual ranking in Real Estate and Tourism. Mr. Guzman Ariza is also a recommended lawyer in Labour and Employment, Corporate and Finance and Dispute Resolution.
Partners Fabio Guzmán Saladín and Alfredo Guzmán Saladín were both ranked as Next Generation Partners in Corporate and Finance and Real Estate and Tourism, respectively. Fabio Guzmán Saladín is also a recommended lawyer in Real Estate and Tourism, whilst Alfredo Guzmán Saladín is recommended in Corporate and Finance and Labour and Employment.
Additionally, ten of our lawyers were recognized as Recommended Attorneys in this edition, including Rubén García in Real Estate and Tourism and Labour and Employment; Rhadaisis Espinal in Dispute Resolution and Labour and Employment; Julio Brea Guzmán in Real Estate and Tourism and Labour and Employment; Alberto Reyes in Corporate and Finance and Dispute Resolution; Marianne Olivares in Dispute Resolution; and Pamela Benzán in Corporate and Finance.
In their editorial, the publication highlights our team and practice areas, and goes on to say that: “Guzmán Ariza’s real estate practice is ‘a market leader in the Dominican Republic in this area‘. The department is well known for its strong capabilities in handling condominium and hotel mandates, and is very experienced in real estate permits and project finance matters. In the Santo Domingo office, Fabio Guzmán Ariza is a highly regarded practitioner in the real estate sector, with notable expertise in condominium projects, while Fabio Guzmán Saladín is a key contact for project finance. La Romana-based Alfredo Guzmán assists multinational companies with transactions in the hospitality and tourism sectors; Julio Brea Guzmán, based in Puerto Plata, counts real estate litigation as a core area of strength; and Rubén García is a key contact in the Samaná office.”
Guzman Ariza announced its partnership with ISFIN, a global advisory organization active in 75 countries that acts as a business facilitator between the Americas’ emerging markets and the Middle East, African and Asian markets. Its members include the most innovative and highly regarded independent law, audit and accounting firms in the world.
Prof. Laurent Marlière, CEO of ISFIN said of this partnership that “Many of the Caribbean markets are in transition. They generally have been in the radar of the US, the UK and the European Union for being tax-incentive jurisdictions. Whilst these markets reinvent themselves, LatAm and the Caribbean are on the radar of South East Asian and Middle Eastern funds, and ISFIN, with its strong local partners, is best positioned to direct new foreign direct investments to the area.”
The Dominican Republic is among the main recipients of FDI in the Caribbean and Central America, increasing its inflow to USD 3 billion in 2019, up 19% from the previous year, with an ever-increasing participation of Chinese investments.
The firm stated that this partnership will be a great advantage for FDI in the Dominican Republic, as the country amplifies its efforts to attract new investors, adding that the Dominican government has taken the right approach towards FDI by providing logistical support for establishing operations in the country, as well as tax incentives for targeted industries including textiles, tourism, film and renewable energy; and by allowing foreign nationals accompanying their businesses and residing in the country to be covered by tax incentives as well. Furthermore, foreign investors can enjoy the same rights and obligations as local investors do.
FDI has played an important role in making the Dominican Republic a leading economic and tourist destination. Today, the country is the largest and fastest growing economy in Central America and the Caribbean and the most visited tourist destination in the area.
President Danilo Medina decreed on July 20th, 2020 a national state of emergency for a period of 45 days effective Monday, July 20th and the daily curfew has been set for a period of 20 days, as follows:
By decree 188-20 President Danilo Medina, decreed on June 1st, 2020 the extension of the national State of Emergency for an additional 12 days applicable to the entire Dominican territory, effective from today June 2nd until June 13th. All social distancing measures in force during the past State of Emergency period will remain in force and the daily curfew has been set from Monday through Saturday, from 7:00 p. m. to 5:00 a. m., and Sundays from 5:00 p. m. to 5:00 a. m.
Economy Reopening:
Public institutions will work with 50% of their employees and could increase this percentage if necessary.
Sector-specific Reopening Schedules:
Webinar about the Corporate Restructuring: Feasibility for Companies in Crisis organized by the Organization of Women in International Trade (OWIT), with the participation of our experts, Fabio Guzmán Saladín and Pamela Benzán Arbaje.