Use of Electronic Media in the National Registry of Foreign Investment

April 23, 2007
Use of Electronic Media in the National Registry of Foreign Investment

Presentation of notices and reports to the National Registry of Foreign Investments (“RNIE”) via the Internet. Beginningimmediately, the RNIE has established a new system to file the following documents via Internet: (i) Applications forinscription in the RNIE; (ii) Amendments to information previously provided to the RNIE (increases or decreases in capital,transfers of shares or association interests, entity mergers, entity transformations, changes of corporate name ordenomination, changes of tax domicile, changes of legal representative, extensions or amendments to company purposesand/or suspensions of activities); (iii) Renewals of Certificate of Inscription in the RNIE through presentation of the annualeconomic report; (iv) filing of quarterly reports of income and expenditures of parties inscribed in the RNIE; (v)consultations regarding foreign investments; and (vi) responses to requirements or initiating administrative sanctionprocedures. In order to access the system one must obtain, after prior application, an access code and PIN number, attachinga cover letter and individual questionnaire, a copy of the public instrument showing that the applicant has powers of attorneyfor acts of administration and a copy of their official valid identification. The new system will reduce processing time forthese procedures.

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