Regulatory Update: 5 LatAm Offices Report Changes in October 2021

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.

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.

The main services offered by BLH include legal services, accounting and taxation, contracting and PEO, due diligence, tax advice and visa processing.
Key services offered by Biz Latin Hub

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