ANNOUNCEMENT 23 Jun 2010In June 2010, the government of Mexico announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Resoluci?n General n?mero 11 (in Spanish) http://www.dof.gob.mx/nota_detalle.php?codigo=5147795&fecha=23/06/2010
On 23 June 2010, the government of Mexico via General Resolution 11 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 2010 is MXN 2.686.461.748.00(USD 141 million).
The previous set amount in 2009 was MXN 2,756,411,632.00 (USD 145 million).
On 06 July 2011 the specified Resolution 11 was replaced with Resolution 12 and was therefore no longer in force.