ANNOUNCEMENT 27 Oct 2011In October 2011, the government of Argentina announced a change in repatriation and surrender requirements.
NUMBER OF INTERVENTIONS
Official Gazette: https://www.google.ch/url?sa=t&rct=j&q=&esrc=s&source=web&cd=5&sqi=2&ved=0CEwQFjAE&url=http%3A%2F%2Fwww.boletinoficial.gov.ar%2FAvisos%2FDescargarPDF.castle%3Ff%3D20111027%26s%3D01&ei=09rqULfVHMzUsgbR24HgDg&usg=AFQjCNHwFR8m-ZqzUw6TQPE8dcILZ01HeQ&sig2=W7QiIpvbFXg9XBTeQN6CwQ&cad=rja
According to Resolution 36.162/2011 of 27 October 2011 all insurance companies operating in Argentina shall report by sworn statement the foreign assets they possess within 10 days of entry into force of the Resolution. Subsequently, they are required to repatriate such assets at latest 50 days after the publication of the resolution.
The Argentine Superintendence of Insurance Companies may grant exceptions and authorize insurers to provisionally hold their assets abroad. In any event, those assets should not exceed 50% of total assets of any individual firm.
Furthermore, it is relevant to highlight that this Resolution also states that all the investments and funds must be located in Argentina no later than 31 December 2011.