The legal and accounting teams at Biz Latin Hub’s offices in Argentina, Colombia, Brazil, and Bolivia reported the following regulatory updates in February 2022 that could affect your business interests.
At Biz Latin Hub our multilingual teams of corporate support specialists based throughout Latin America and the Caribbean offer tailored packages of integrated back-office services, including legal, accounting, and recruitment, among other solutions to assist companies and investors doing business in the region.
If you are interested in doing business in Latin America and would like to learn more about how we can help you bridge cultural and linguistic barriers when entering the region, as well as support ongoing operations, contact us today.
Table of Contents
Argentina
The Argentinian government and its institutions introduced one notable regulatory update in February:
| Regulatory activity | Outcomes for business |
| Res. IGJ 1/2022 Published: February 1st, 2022 | Every Bylaws or articles of incorporation of any commercial company that must be registered in the Public Registry must include the term of duration of the company, which may not exceed the term of 30 years from its registration in the registry. |
Colombia
The Colombian government and its institutions introduced three notable regulatory updates in February:
| Regulatory activity | Outcomes for business |
| Resolution 227 of 2022 Published: February 20th, 2022 | This resolution allows, defines and establishes all the mechanisms and procedures for the industrial use of cannabis plants in sectors such as food, beverages, alcoholic beverages and dietary supplements, defining, of course, that these uses have to do with the non-psychoactive component. |
| Press Release No 140 of 2022 Published: February 23rd, 2022 | This bulletin issued by the Minister of Health, announces that in all populations where 70% coverage is achieved with the complete vaccination schemes the use of face masks in open spaces can be eliminated. |
| Decree 255 of 2022 Published: February 23rd, 2022 | Whereby Section 7 is added of the Decree 1074 of 2015, Sole Regulatory Decree of the Commerce, Industry and Commerce Sector binding corporate standards for the certification of good practices in the practices in the protection of personal data and its transfer to third countries. |
Brazil
The Brazilian government and its institutions introduced one notable regulatory update in February:
| Regulatory activity | Outcomes for business |
| Decree 10.979 Published: February 25th, 2022 | The government has decided to reduce Industrialized Product Tax (IPI) rates by 25% for the vast majority of products. The reduction was established by Decree 10.979 on January 25. |
Bolivia
The Bolivian government and its institutions introduced one notable regulatory update in February:
| Regulatory activity | Outcomes for business |
| Supreme Decree 4668 Published: February 17th, 2022 | Regulates the application of labor rights acquired by male and female workers, subject to the labor regime of the General Labor Law, of December 8, 1942. |
Biz Latin Hub can support you doing business in Latin America
At Biz Latin Hub, our multilingual company formation, recruitment, accounting, and legal professionals are ready to support you doing business in Latin America and the Caribbean. Our comprehensive portfolio of market entry and back-office services means our clients operate 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 assist you doing business.
Or learn more about the teams of professionals we have enabling commercial expansion across Latin America.
