ANNOUNCEMENT 29 May 2013In May 2013, the government of Mexico announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
RESOLUCI?N General n?mero 14 (Spanish) http://www.dof.gob.mx/nota_detalle.php?codigo=5300567&fecha=29/05/2013
On 29 May 2013, the government of Mexico via General Resolution 14 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 2013 is MXN 3.493.603.960.10(approximately USD 184 million).
The previous set amount in 2012 was MXN 3.244.014.508.30(approximately USD 171 million).
This specified Resolution on 29 April 2014 was replaced by Resolution 15, and was therefore no longer in force (please see related measures).