New Rules for submitting reports to the National Foreign Investment Registry
• Required minimum amounts for filing reports are defined.
The Comisión Nacional de Inversión Extranjera (National Foreign Investment Commission) issued a General Resolution published on the Federal Official Gazette on February 23, 2015 and became applicable o the same date. It established specific criteria in connection with the amounts required for filing some obligations.
New criteria are mentioned below:
There will only be an obligation to submit the quarterly report on the revenues and expenses (operations abroad) when the following assumptions are greater than or equal to $ 20’000,000.00 (Twenty million pesos)
- Operations in connection with new contributions and reserves or withdrawal of any of these, not affecting the capital stock,
- Withholding profits for the past fiscal year and disposition of accumulated retained earnings or,
- When there are loans payable or receivable to subsidiaries residing abroad, to the parent company abroad, to foreign investments residing abroad who are part of the same corporate group the subject obliged to file the report belongs.
Said report shall be submitted within the ten days following the closing of the quarter.
Notice as to a change in the information previously submitted
Only quarterly notices shall be filed before the Foreign Investment Registry, when changes to the capital stock and/or share structure are greater than or equal to $ 20’000,000.00 (Twenty million pesos).
In the event of changes to the information provided, such as name, corporate name, economic activity, tax address, etc. Notices are to continue being filed.
Both notices shall be filed within the ten days following the closing of the quarter when the amendment was carried out. (January to March, April to June, July to September and October to December.)
Annual Economic Report
Only the renewal of the annual registration record shall be submitted, provided during the applicable fiscal year they had some of the following accounts exceeding the amount of $ 110’000,000.00 (One hundred and ten million pesos pesos) whether it is a starting balance or ending balance, in the following accounts:
• Total Assets
• Total Liabilities
• Revenues (In the country or abroad)
• Expenses (ln the country or abroad)
Said report is submitted pursuant to the first letter of the name, or corporate name, pursuant to the following expiration dates:
• Letters A to J during the month of April each year.
• Letters K to Z during May each year.
Please contact us if you have any questions or comments.