ANNOUNCEMENT 10 Jul 2012In July 2012, the government of Mexico announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Resoluci?n General n?mero 13 (in Spanish) http://www.dof.gob.mx/nota_detalle.php?codigo=5258388&fecha=10/07/2012
On 10 July 2012, the government of Mexico via General Resolution 13 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 2012 is MXN 3.244.014.508.30(approximately USD 171 million).
The previous set amount in 2011 was MXN 2.958.418.853.40( approximately USD 156 million).
On 29 May 2013 the specified Resolution 13 was replaced with Resolution 14 and was therefore no longer in force.