Amendments To Obligations And Filings Before The National Registry Of Foreign Investments - Government - Mondaq Mexico - Mondaq Business Briefing - Books and Journals - VLEX 571201810

Amendments To Obligations And Filings Before The National Registry Of Foreign Investments

Author:Santamarina Y Steta SC
Profession:Santamarina Y Steta SC
 
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On February 23, 2015, the Ministry of Economy published certain ordinances in the Daily Gazette of the Federation (the "Ordinances"), which implement the amendments to obligations and filings before the National Registry of Foreign Investments (the "Registry") mentioned below. The Ordinances complement the amendment to the Regulations of the Foreign Investment Law and the Registry (the "Regulations"), published in the Daily Gazette of the Federation on October 31, 2014.

On February 23, 2015, the Ministry of Economy published certain ordinances in the Daily Gazette of the Federation (the "Ordinances"), which implement the amendments to obligations and filings before the National Registry of Foreign Investments (the "Registry") mentioned below. The Ordinances complement the amendment to the Regulations of the Foreign Investment Law and the Registry (the "Regulations"), published in the Daily Gazette of the Federation on October 31, 2014.

  1. Applicable terms and amounts to comply with obligations before the National Registry of Foreign Investments.

    Among others, by means of the amendment to the Regulations, the terms to comply with certain obligations were modified, and now the Ordinances set certain thresholds for filing the respective notices, as mentioned below:

    1. Update of the information provided upon application for registration of individuals and legal entities before the Registry.

      By means of the amendment to the Regulations, the update must be carried out on a quarterly basis, within the first ten business days following the closing of the quarter corresponding to the amendment (January to March, April to June, July to September and October to December).

      Pursuant to the Ordinances, the notice of this update has to be filed only in the event of amendments to the name or corporate name; the economic activity; the tax domicile; the corporate capital and/or share structure, which implies a change in the participation of non-Mexican individuals or legal entities and foreign entities without legal identity, in the corporate capital, in an amount exceeding in the aggregate MX$20'000,000.00.

    2. Filing of information to determine the value of certain income and expenses.

      The Regulations provide that the income and expenses that shall be reported, are those arising from (a) new contributions and reserves or withdrawal thereof, not affecting the corporate capital; (b) withholding of profits corresponding to the last tax year and disposition of...

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