Regulatory update: 5 LatAm offices report changes in June 2022

The legal and accounting teams at Biz Latin Hub’s offices in Chile, Colombia, Costa Rica, Paraguay and Peru reported the following regulatory updates in June 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.

Chile

The Chilean government and its institutions introduced one notable regulatory update in June:

Regulatory activity Outcomes for business
Law 21.465

Published: 14.06.2022
The limit of the fuel price stabilization mechanism created by law no. 20,765 is increased and the weekly adjustment threshold is updated.

Colombia

The Colombian government and its institutions introduced one notable regulatory update in June:

Regulatory activity Outcomes for business
Law 2213 of 2022

Published: 13.06.2022
Technological measures are adopted to improve judicial procedures in Colombia.

Costa Rica

The Costa Rican government and its institutions introduced one notable regulatory update in June:

Regulatory activity Outcomes for business
Decree that allows for the homologation of sanitary registrations for medicines

Published: 22.06.2022
The Ministry of Health signed a decree to homologate sanitary registries of medicines granted by the regulatory authorities that are members of the International Council for Harmonization.

Paraguay

The Paraguayan government and its institutions introduced one notable regulatory update in June:

Regulatory activity Outcomes for business
Conasam: 11.4% minimum wage readjustment

Published: 13.06.2022
The Central Bank had informed the agency that the variation in the Consumer Price Index (CPI) in the period June 2021 to May 2022 was 11.4%. The current minimum wage of 2,289,324 and according to the readjustment request will go to 2,550,307 guaraníes as of July 1.

Peru

The Peruvian government and its institutions introduced one notable regulatory update in June:

Regulatory activity Outcomes for business
Law 31501

Published: 10.06.2022
Modifies the Penal Code in order to strengthen the fight against the crimes of Fraudulent Administration, Parallel Accounting and Transnational Bribery.

Biz Latin Hub can support you and your business in Latin America

At Biz Latin Hub, we have a multilingual team for legal, accounting, recruitment and company formation services, ready and waiting to support your business efforts in the Caribbean and Latin America. Our broad range of services allow our clients to do business with the peace-of-mind that they have checked all the commercial boxes, and that they are compliant with all the relevant legislative and regulatory criteria.

To learn more about how we can assist you in doing business in Latin America, contact us.

Also, you can learn more about our team of professionals and how they are enabling commercial growth across Latin America.

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Key services offered by Biz Latin Hub

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