March 2021 Regulatory Update: 4 LatAm Offices Report Changes

The legal and accounting teams at Biz Latin Hub’s offices in Bolivia, Brazil, Chile, and the Dominican Republic report the following regulatory updates for March 2021 that could affect your business interests.

Four BLH offices reported regulatory changes

At Biz Latin Hub our multilingual teams based throughout Latin America and the Caribbean offer legal, accounting, and other back-office support to companies and investors operating in or looking to enter the region.

If you would like to learn more about how we can assist your international expansion and help you build your business, contact us today.

Bolivia

The Bolivian government and its institutions introduced two notable regulatory updates in March:

Regulatory activityOutcomes for business
Ministerial Resolution 186/2021

Published:
March 04, 2021
New regulations dictating that companies’ bio-safety protocols be submitted before the Bolivian Ministry of Labor
Ministerial Resolution 320/2021

Published:
Mar 31, 2021
Extends the deadline for submitting those bio-safety protocols before the Bolivian Ministry of Labor until May 31st, 2021

Brazil

The Brazilian government and its institutions introduced one notable regulatory update in March:

Regulatory activityOutcomes for business
State of Sao Paulo Decree No. 65.563/21

Published:
11 March, 2021
All public entities will remain closed in the State of Sao Paulo by April 11th. When available, electronic services will be working normally

Chile

The Chilean government and its institutions introduced two notable regulatory updates recently:

Regulatory activityOutcomes for business

Ley 21.305

Published:
February 13, 2021
Establishes the first National Plan for Energy Efficiency
Ley 21.317

Published:
March 17, 2021
Allows for upcoming local elections to take place on two separate days

Dominican Republic

The Dominican government and its institutions introduced one notable regulatory update in March:

Regulatory activityOutcomes for business
Ley 12-21

Approved:
March 03, 2021

Creates a Free Trade Zone for Border Development, providing a special tax regimen for companies that establish business operations in any of provinces that border with Haiti, namely: Pedernales, Independencia, Elías Piña, Dajabón, Montecristi, Santiago Rodríguez y Bahoruco. Pursuant to this legislation, companies classified to the special tax regimen are exempt, for up to 30 years, from paying income tax, excise taxes, capital gains tax on the transfer of shares and custom duties/VAT on the import or local acquisition of equipment necessary for the establishment and operation of the company, as well as other tax incentives.

Contact Biz Latin Hub to discuss how we can support you

At Biz Latin Hub, our multilingual accounting and legal professionals provide invaluable specialist commercial representation and expert support for doing business in Latin America and the Caribbean. Our full suite of market entry and back-office services leaves our clients safe in the knowledge they have all commercial bases covered and are fully compliant with current legislation and regulatory requirements.

Contact us now to learn more about how we can help you comply with the regulatory environment in Latin America and the Caribbean.

Learn more about the teams of professionals we have enabling commercial expansion across Latin America.

An infographic showing the key Biz Latin Hub service areas, including Accounting & Taxation, Legal Services, Hiring & PEO, Visa Processing, Commercial Representation, and Copany Formation

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