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On June 3, 2022, Honduras Próspera Inc. (US-Delaware), the promoter and organizer of the innovative special economic zone known as Próspera ZEDE, and its affiliates St. John’s Bay Development Company LLC (US-Delaware) and Próspera Arbitration Center LLC (US-Texas), invited the Republic of Honduras to engage in consultations pursuant to the Investment Chapter of the Dominican Republic–Central America–United States Free Trade Agreement (CAFTA-DR).
Honduras Próspera and its affiliates have made significant investments in Honduras in reliance on the ZEDE legal framework and commitments made by Honduras under Honduran law, international treaties, and legal stability agreements. Among other things, Honduras has guaranteed legal stability for 50 years, and the company plans to invest hundreds of millions of dollars more in the coming years. In order to draw new foreign investment to Honduras at a scale never-before-seen, Próspera ZEDE investors have been deploying a business model of delivering high integrity, high efficiency rule-of-law governance, which meets or exceeds U.S. anticorruption standards. This business model already sustains gainful employment for hundreds of local Hondurans and dozens of innovative Honduran and international businesses, and much more is planned for the years to come. Legal stability is a cornerstone of such large-scale, long-term investments.
Despite recent efforts to repeal the ZEDE legal framework, Próspera ZEDE continues to enjoy the rights it was previously granted because Honduras guaranteed legal stability for 50 years. Honduras Próspera expects the Government of Honduras to respect its legal stability commitments; and, accordingly, that the ZEDE legal framework will remain in full effect as to Honduras Próspera notwithstanding Honduras’ recent repeal efforts. A failure to uphold these commitments would constitute a breach of international and Honduran law, as well as wrongful and unfair treatment of Honduras Próspera. Moreover, it would send a message to the world that no foreign investment in Honduras is secure. Honduras Próspera has sent letters to the Government of Honduras underscoring this message, and inviting confirmation that Honduras Próspera’s rights will be respected. Despite repeated requests, there has been no response, while there have been misleading statements in the media that Próspera ZEDE will not be able to operate.
Honduras Próspera and its affiliates look forward to engaging in productive consultations with Honduras under the CAFTA-DR. It is not too late for Honduras to reaffirm its commitments, abide by the undertakings it made to attract foreign investment, and avoid an international investor-State arbitration. The legal team of Honduras Próspera Inc. stands ready, willing, and able to participate in good faith and hopes that Honduras will do the same.
Honduras Próspera is represented by the international law firm White & Case LLP.
Download CAFTA Consultation Request Correspondence to Government of Honduras:
1. <a href="https://docsend.com/view/b6gkjxinutmjfd6g" target="_blank">April 26, 2022 Correspondence - White & Case to Government of Honduras</a>
2. <a href="https://docsend.com/view/ywji5cjph45pd7ju" target="_blank">May 11, 2022 Correspondence - White & Case to Government of Honduras</a>
3. <a href="https://docsend.com/view/rgcf94vdt57dx9it" target="_blank">June 3, 2022 Correspondence - CAFTA-DR Request for Consultations</a>

Honduras Próspera Requests Consultations under CAFTA-DR

Roatán

La empresa inversionista de los Estados Unidos de América, Honduras Próspera, Inc., ha demostrado y mediante la presente reitera su compromiso con el desarrollo socioeconómico de Honduras. Desde 2018, Honduras Próspera ha invertido significativos recursos en Honduras y ha convertido a Próspera ZEDE en una importante plataforma para el desarrollo de la nación hondureña. Aun cuando la República de Honduras está tomando pasos para derogar aspectos del marco legal de las zonas especiales de desarrollo económico (ZEDEs), la empresa permanece comprometida con el desarrollo exitoso de Próspera ZEDE en virtud de los compromisos de estabilidad jurídica que ha asumido el Estado de Honduras con respecto a los inversionistas.
Al invertir en Honduras, la empresa se amparó en las garantías específicas de estabilidad jurídica brindadas por el mismo Estado hondureño, el cual garantizó que los derechos y facultades provistas por el marco legal de las ZEDE se mantendrían en vigencia para Próspera durante muchas décadas. Honduras Próspera, Inc. respeta la soberanía de Honduras y su derecho a cambiar sus leyes, pero espera que el Gobierno de Honduras respete los compromisos y obligaciones que ha adquirido de conformidad con los acuerdos de estabilidad jurídica y los tratados internacionales, lo cual es consistente con las afirmaciones que dio la Presidenta Castro al Subsecretario de Estado para el Crecimiento Económico, la Energía y el Medio Ambiente de los Estados Unidos, a quien aseguró que Honduras garantizará la seguridad jurídica para atraer inversiones extranjeras.
Honduras Próspera se adhiere al principio compartido de que los hondureños deben estar empoderados para controlar su propio destino y alcanzar su verdadero potencial. La empresa reafirma su compromiso de continuar con la cooperación y discusiones actuales con funcionarios hondureños, reiterando en todo momento sus derechos bajo los acuerdos de estabilidad jurídica y los tratados internacionales que forman parte del derecho interno de Honduras. Honduras Próspera espera un diálogo productivo que demuestre al mundo que Honduras da la bienvenida a inversionistas serios para promover el crecimiento económico y el desarrollo del país.

Honduras Próspera, Inc. reitera su compromiso con la plataforma legal de Próspera ZEDE

Economic development

U.S. investor Honduras Próspera, Inc. has demonstrated and hereby reiterates its longstanding commitment to the development of Honduras. Since 2018, Honduras Próspera has invested significant resources in Honduras and made Próspera ZEDE a strong platform for economic development. The company remains committed to the successful development of Próspera, even as the Republic of Honduras is taking steps to repeal aspects of the legal framework for special economic development zones (ZEDEs), in view of Honduras’s commitments of legal stability for investors.
When investing in Honduras, Honduras Próspera, Inc. relied on specific legal stability guarantees from Honduras that the rights and authorities provided by the ZEDE legal framework would remain in effect as to Próspera for many decades. Honduras Próspera respects the sovereignty of Honduras and its right to change its laws, but expects Honduras to respect its commitments under legal stability agreements and international treaties, consistent with President’s Castro recent assurances to the <a href="https://www.state.gov/bureaus-offices/under-secretary-for-economic-growth-energy-and-the-environment/" target="_blank">Under Secretary of State for Economic Growth, Energy, and the Environment of the United States </a>that Honduras would guarantee legal security to attract foreign investment. 
Honduras Próspera, Inc. embraces the shared principle that Hondurans should be empowered to control their own destiny and reach their true potential. The company affirms its commitment to continue current cooperation and discussions with Honduran officials, while underscoring at all times its rights under legal stability agreements and international treaties. Honduras Próspera looks forward to a productive dialogue that will demonstrate to the world that Honduras welcomes serious investors to promote economic growth and development.

Honduras Próspera, Inc reiterates its commitment to Próspera ZEDE

Próspera

Jobs

The Próspera Group has every intention of proceeding confidently with plans to invest hundreds of millions of dollars and to create tens of thousands of good-paying jobs in Honduras in reliance upon its acquired rights under the ZEDE framework. For the State of Honduras to deny these rights would plainly violate its obligations under international and domestic law based on well-established legal principles. See Alejandro Escobar, The Reasonable Choice: Respecting the Powerful Investor Protections of Honduran Employment and Economic Development Zones (ZEDEs), Int’l Policy Analysis (April 18, 2022), <a href="https://drive.google.com/file/d/1r8rTlWGG0yd2sMg2EPFJGOdJpFJOZ2lv/view?usp=sharing" target="_blank">available here.</a>

 The Honduran government has a very strong incentive to respect the legal stability of the ZEDE framework. The ZEDE framework was specifically crafted and tailored to ensure legal certainty, which is crucial to the nation’s socio-economic development, and the ZEDE framework provides for multiple layers of legal stability guarantees at all levels of the law, among which are the following:
<ul><li>Constitutional Provisions and Acquired Rights. The repeal of the ZEDE legal framework does not affect the constitutionally-protected acquired rights of ZEDE investors, which are premised on the legal personhood as well as the legal, economic, administrative, and political autonomy of ZEDEs. </li><li>Legal Stability Agreements. The Próspera Group is protected by a Fifty (50) year legal stability agreement. ZEDE Technical Secretaries are authorized to sign such legal stability agreements with investors. In case of repeal or amendment of the ZEDE framework, Article 45 of the ZEDE Organic Law nevertheless states that the rights and privileges of ZEDE investors will stay in place for the duration of their stability agreements.</li><li>International Investment Law Protection. Honduras Próspera, Inc., the Promoter & Organizer of Prospera ZEDE, is a U.S. company with rights under the Central American Free Trade Agreement (CAFTA-DR) and the U.S.-HN Bilateral Investment Treaty, which extend to investments made in Próspera ZEDE the highest degree of legal protection in Honduras. Many other investors from other countries likewise enjoy powerful treaty rights.</li></ul>
The State of Honduras is bound by international, constitutional, and ordinary law to provide fair and equitable treatment, as well as full protection and security to investors and investments in the ZEDE framework. The ZEDE framework was built to last and specifically tailored to serve as a rule of law oasis of economic freedom and legal stability in Honduras for decades to come. 
The entire Próspera Group will continue to support the deployment of Foreign Direct Investment, national businesses, entrepreneurs, and the creation of good-paying jobs in what we believe is the world’s most advanced and innovative special jurisdiction.

Built to last: Legal Stability in the Zede Framework

Government

Honduras Próspera Inc (HPI) has raised an additional $60 million dollars, which will be fully invested in Honduras, in turn creating immediate jobs in construction and building the foundations for a long-lasting and sustainable future.
Most of these new investments will create the world class physical infrastructure required for new businesses to flourish in Roatán Próspera. These new spaces combined with the Próspera Platform’s business friendly environment will enable far more foreign direct investment into Honduras. This in turn will create additional jobs in different sectors, fulfilling the aspirations of transforming Roatan from a tourism-based economy to an international zone for innovation, finance, and entrepreneurship.
In total, over 27,000 square meters of new construction will be built, creating over 600 new construction jobs and over 300 new knowledge economy jobs. These new mixed use spaces will use state of the art architecture techniques that blend together the beauty of nature and sea in Roatán, with world-class sophisticated residential, retail and office spaces. Local materials and providers will also be used as much as possible, creating business opportunities for small suppliers in Honduras.
Investors and residents inside Roatán Próspera will also enjoy the world’s best legal, regulatory and fiscal ecosystem to do business; while guaranteeing the highest level of protection of human, labor, investor and property rights and of the environment.
HPI is already building the first vertical development along with Apolo Group, which is scheduled to be inaugurated by the end of this year. More than half of the spaces in that development have already been presold.
For more information, please contact: medios@prospera.hn

Próspera will invest an additional $60 million in Honduras

Architecture

Próspera ZEDE, an enhanced Special Economic Zone located on the Island of Roatán in the Western Caribbean and the Northern Corridor of Honduras, announced today that the regulation of its cutting-edge, crypto-friendly Roatán International Financial Center (RIFC) will be overseen by top experts in financial regulation, services, and law enforcement. The RIFC’s participation in the global cryptocurrency marketplace, which was nearly $2 Trillion in 2021 and is expected to surpass $30 Trillion by 2027, will be safe for Hondurans and the world.
Specifically, Próspera’s governing “Roatán Financial Services Authority” will be headed by:
<ul><li>Mr. José Luis Moncada, former President of the Honduran National Commission on Banks & Insurance (CNBS);</li><li>Dr. Riddhi Sohan Dasgupta, J.D., Ph.D., former Deputy General Counsel, U.S. Homeland Security;</li><li>Mr. Alexander Rolfe, former Senior Resolution Planning Specialist, U.S. Federal Deposit Insurance Corporation (FDIC); and</li><li>Mr. Chirag Shah, former Chief Strategy Officer for the Dubai International Financial Center (DIFC).</li></ul>
“High integrity oversight will undoubtedly empower Próspera’s Roatán International Financial Center to support a powerful array of new financial institutions and services, including the region’s first FinTech Incubator,” predicted DIFC founder Chirag Shah.
Former FDIC regulator Alexander Rolfe agreed, stating, “I am excited to bring my background in U.S prudential, resolution and cross-border bank and financial regulation to Próspera; but applied in a manner that is more efficient, predictable, and customized to the modern financial system. Próspera RIFC is the opportunity for regulatory ‘tabula rasa’ or ‘clean slate.’”
“Próspera’s financial ‘Dream Team’ will ensure the jurisdiction is characterized by responsible innovation—with the integrity expected of international best practices and in full compliance with world-class KYC and Anti-Money Laundering standards,” observed Erick A. Brimen, CEO of the Promoter and Organizer of Prospera ZEDE, Honduras Próspera Inc. (a Delaware Corp.).
Próspera’s governance platform enables the full spectrum of financial services to be delivered without unnecessary friction, from Bitcoin Bonds, to fund investment, to everyday banking. In so doing, Próspera aims to break through the financial barriers that stop international investors, local governments, regional businesses, and local residents from securing and deploying the resources they need to pursue their dreams, and to create prosperity. 
# # #
For more details visit <a href="http://www.prospera.hn/">www.prospera.hn</a>. For further information contact: J. Robertson, <a href="mailto:jrobertson@prospera.hn">jrobertson@prospera.hn</a>

Press Releases

Honduras Próspera Requests Consultations under CAFTA-DR

Honduras Próspera, Inc. reitera su compromiso con la plataforma legal de Próspera ZEDE

Honduras Próspera, Inc reiterates its commitment to Próspera ZEDE

Built to last: Legal Stability in the Zede Framework

Próspera will invest an additional $60 million in Honduras

Former Top Officials of U.S. Homeland Security, FDIC, DIFC, and CNBS Join Próspera Financial Services Authority and FinTech Accelerator

A Platform for Sustainable Growth.
Launching on Roatán

Press Releases

Honduras Próspera Requests Consultations under CAFTA-DR

Honduras Próspera, Inc. reitera su compromiso con la plataforma legal de Próspera ZEDE

Honduras Próspera, Inc reiterates its commitment to Próspera ZEDE

Built to last: Legal Stability in the Zede Framework

Próspera will invest an additional $60 million in Honduras

Former Top Officials of U.S. Homeland Security, FDIC, DIFC, and CNBS Join Próspera Financial Services Authority and FinTech Accelerator

A Platform for Sustainable Growth. Launching on Roatán

A Platform for Sustainable Growth.
Launching on Roatán