Third Quarter 2024: Obligations in Foreign Investments
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- Third Quarter 2024: Obligations in Foreign Investments Matters
Published on Friday, October 4, 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 third quarter of 2024 expires on October 15th, 2024. Remember that, if your company was under any of the following assumptions during the months of July to September of 2024, 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® Mexico - Legal Department.
For more information please contact us at contacto@krestonbsg.com.mx or by phone: +52 (222) 893 76 10
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