The legal and accounting teams at Biz Latin Hub’s offices in Bolivia, Chile, Colombia, the Dominican Republic, and Panama reported the following regulatory updates in October 2021 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, recruitment, and other services to assist companies and investors doing business in the region.
If you would like to learn more about how we can help you reach your commercial goals, contact us today.
Table of Contents
Bolivia
The Bolivian government and its institutions introduced three notable regulatory updates in October:
| Regulatory activity | Outcomes for business |
| Law N°1398 Published: October 1st, 2021 | Establishes the creation, organization, operation and financing of the new public institution in charge of the Registry of Commerce. |
| Decree Supreme N°4596 Published: October 06th, 2021 | Creates the Plurinational Trade Registry Service – SEPREC. This entity will start operating on April 1st ,2022. |
| Decree Supreme N°4600 Published: October 20th, 2021 | Creates the National Committee for Trade Facilitation – CNFC, establishing its composition and functions. |
Chile
The Chilean government and its institutions introduced one notable regulatory update in October:
| Regulatory activity | Outcomes for business |
| Law 21.348 Published: October 21st, 2021 | Authorizes the Capitalization of the Chile Central Bank in order to comply with the requirements set forth by BASILEA III. |
Colombia
The Colombian government and its institutions introduced two notable regulatory updates recently:
| Regulatory activity | Outcomes for business |
| Resolution Number 63360 of 2021, issued by the Superintendence of Industry and Commerce. Published: September 30th, 2021 | By which the Industrial Property rates are set and other provisions are modified. |
| Resolution No. 000110 Issued by the DIAN (Tax Authority) Published: October 11th, 2021 | By which the registration and updating procedure of the Single Tax Registry -RUT is regulated through the Chambers of Commerce. |
Dominican Republic
The Dominican Republic government and its institutions introduced one notable regulatory update recently:
| Regulatory activity | Outcomes for business |
Law 163-21 for the Promotion of Capital Markets Published: August 6th, 2021 | Companies are exempt from paying taxes on the increase of its share capital by the issuance of more shares. Capital gains arising from the sale of shares of a publicly traded company shall be subject to a 17% capital gains tax, instead of the general 27% rate, up August 2024. |
Panama
The Panamanian government and its institutions introduced one notable regulatory update in October:
| Regulatory activity | Outcomes for business |
| Bill 153 of 2019 that legalizes the use of medical cannabis Published: August, 2021 | The law has been approved by the President. It regulates the medicinal and therapeutic use of cannabis and its derivatives, creates a regulatory framework for the use and monitored and controlled access; for therapeutic, medical, veterinary, scientific and research purposes, in the national territory. |
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 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.
