IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 06 Dec 2010 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

On 6 December 2010, the Mexican Ministry of Finance and Public Credit amended the rules on the registration of foreign reinsurers. The new rules require that all non-Mexican reinsurers that reside in countries with which Mexico has a double taxation treaty and that are also registered in Mexico, must submit a residency certificate issued by their home tax authorities.
 
Foreign reinsurers that assume risks from Mexican insurance companies must be registered, and that registration must be renewed every year.
 
Failure to submit the registration renewal filing on time can result in the cancellation of the registration with a potential for substantial increases in reserve and regulatory capital requirements of the Mexican cedent company.

AFFECTED COUNTRIES

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