ANNOUNCEMENT 29 Apr 2014In April 2014, the government of Mexico announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
RESOLUCI?N General n?mero 15 (Spanish) http://www.dof.gob.mx/nota_detalle.php?codigo=5342554&fecha=29/04/2014
On 29 April 2014, 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 2014 is MXN 3.601.905.682.86(approximately USD 190 million). The previous set amount in 2013 was MXN 3.493.603.960.10(approximately USD 184 million).
The specified Resolution on 23 April 2015 was replaced with Resolution 16, and was ,therefore, no longer in force.