ANNOUNCEMENT 23 Apr 2015In April 2015, the government of Mexico announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
RESOLUCI?N General n?mero 16 (Spanish) http://www.dof.gob.mx/nota_detalle.php?codigo=5389857&fecha=23/04/2015
On 23 April 2015, the government of Mexico via General Resolution 16 introduced modifications to article 9 of the Foreign Investment Law.
The specific amendments introduced refer to the amount of the aggregate assets' value embedded in article 9 of the Foreign Investment Law.
Article 9 states that: The Mexican National Commission of Foreign Investments is required to issue a Favourable Resolution, in order to enable foreign investors to hold + 49% of the capital stock of Mexican companies, in cases when the aggregate assets' value of these companies is higher than the aggregated annual value amount determined by this Commission.
The newly established amountin 2015 was MXN 3.810.816.212.47(approximately USD 203 million). The previously established amount in 2014 was MXN 3.601.905.682.86(approximately USD 190 million).
On 12 May 2016, the specified Resolution was replaced with Resolution 17, therefore it was no longer in force.