Organising an investment

摘要

The Foreign Investment Law of 2014 has had a negative impact on foreign investment, as it has reduced the statutory rights of foreign investors. Among other measures, it repealed Decree 2,095/1992 (the Regulation on the Treatment of Foreign Capital and Trademarks, Patents, Licences and Royalties), which had removed the need for formal prior government approval to make a foreign investment in the country. Investors must register newly formed companies with the national mercantile registry (Servicio Autonomo de Registros y Notarias-SAREN). All foreign investment must be registered with the National Centre for Foreign Commerce (Centra Nacional de Comercio Exterior- Cencoex) within 60 days of a company's local mercantile registration. The state reserves the right to develop areas of the economy considered strategic and can establish special investment regimes with different incentives and percentages in certain sectors. As per the constitution and the country's mining and oil legislation, all subsoil resources are deemed state property, and the government must be a majority partner in any dealings in the petroleum sector.