Obligations in Foreign Investments Matters - Fourth Qua
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- Obligations in Foreign Investments Matters - Fourth Quarter 2023
Published on Friday, January 5, 2024
At Kreston BSG® we know the importance of complying with the obligations that every
company is subject to. As part of our commitment, we inform you that, regarding foreign
investment matters, any Mexican company with foreign capital stock in its structure
could be subject to report quarterly and/or annually update notices before the National
Registry of Foreign Investments (RNIE by its initials in Spanish).
Therefore, we remind you that the next deadline for filing the Quarterly Update Notice related to the fourth quarter of 2023 expires on January 16, 2024. Remember that, if your company was under any of the following assumptions during the months of October to December of 2023, you must comply with the filling of the notice corresponding to such quarter:
- Company name, tax address or economic activity modifications.
- Capital stock and/or economic structure modifications that imply a change in the participation in the capital stock of foreign individuals or foreign legal entities for an amount greater than MXN $20’000,000.00 (approximately USD $940,000.00); and/or
- Variations greater than MXN $20’000,000.00 (approximately USD $940,000.00) in the following accounts:
- Payables o receivables to/from residents abroad that are part of the same corporate group (affiliates, subsidiaries, partners, shareholders, or entities that participate directly or indirectly in the capital stock);
- Contributions for future capital increases; Capital stock reserves; and/or
- Previous year results.
The omission, erroneous or untimely presentation of these obligations may cause considerable fines, or the revocation of the authorizations granted by the Ministry of Economy and/or the National Foreign Investment Commission.
If your company is integrated by foreign capital stock or you have concerns on properly complying with this obligation, please contact your Kreston consultant to guide you in the related filing and help you adopt a legal compliance culture in this matter.
Sincerely,
Kreston BSG® México - Legal Department.
For more information please contact us at contacto@krestonbsg.com.mx
Our goal is to build a network of trust with our clients to be the support in achieving business objectives. We are a network of firms with a presence in more than 120 countries, experts in offering tax, auditing, legal and accounting consulting services at national and international level. Everything written in this space is for the benefit of the readers; however, for a correct application of specific topics it is necessary to refer to our specialists. For more information visit www.krestonbsg.com.mx
