ANNOUNCEMENT 06 Jul 2011In July 2011, the government of Mexico announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Resoluci?n General n?mero 12 (in Spanish) http://www.dof.gob.mx/nota_detalle.php?codigo=5199675&fecha=06/07/2011
On 06 July 2011, the government of Mexico via General Resolution 12 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 2011 is MXN 2.958.418.853.40( approximately USD 156 million).
The previous set amount in 2010 was MXN 2.686.461.748.00(USD 141 million).
On 10 July 2012 the specified Resolution 12 was replaced with Resolution 13 and was therefore no longer in force.