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Regulatory Update: 5 LatAm Offices Report Changes in September 2021


The legal and accounting teams at Biz Latin Hub’s offices in Bolivia, Colombia, Ecuador, Panama, and Uruguay reported the following regulatory updates in September 2021 that could affect your business interests.

Biz Latin Hub’s multilingual corporate support teams are based in Latin America and the Caribbean and offer customized packages of integrated back office services including legal, accounting and recruitment.

For more information on how we can assist you in achieving your commercial goals, please click here contact us today.

Bolivia

In September, the Bolivian government introduced a notable regulatory update:

Regulation activity Business outcomes
Supreme Decree N°4579
Published:
September 2, 2021
No. 1391, of August 31st, 2021, establishing  tax incentives for the agricultural, industrial, construction, and mining sectors.

Colombia

One notable regulatory update was made by the Colombian government and institutions in September.

Regulation activity Business outcomes
Law 2155
Published (pdf():
September 14th 2021
This law modifies measures to encourage social investment, tax relief and tax normalization and aid to businesses affected by the pandemic.

Ecuador

Three notable regulatory updates were made by the Ecuadorian government in September by its institutions.

Regulation activity Business outcomes
Resolution No. No.
Published:
September 1, 2021
The list of prohibited products that are not allowed to be imported into Ecuador is being updated. Examples include explosives, toxic waste, or materials that impact the ozone layer.
Agreement MPCEIP-DMPCEIP-2021-0062
Published:
August 11th 2021
New regulation for compliance officers at entities that require control over the Financial Analysis Unit.
This document describes the new accreditation process that will allow you to be listed as a compliance officers.
Presidential Decree No. No.
Published:
August 26th 2021
For sending foreign currency abroad, registered airlines with Ecuadorian operating permits will be charged a 0% fee
This means that they won’t have to pay the Ecuadorian currency exit tax.

Panama

Two notable regulatory updates were made by the Panamanian government and institutions in September.

Regulation activity Business outcomes
Resolution No. Resolution No.
Published:
September 10, 2021
As of October 1, 2021, Panama’s legal stay period for tourists has been extended to three months.
The resolution 22706  except the effects of resolution 22068 to citizens of the United States and Canada, who will have an authorized tourist period of six months.
Law 238
Published:
September 15th 2021
The scope of maternity leave is extended to the father and vacations are granted in the event of the mother’s death.
It will take effect on the day the state of emergency due to the Covid-19 pandemic is lifted.

Uruguay

In September, the Uruguayan government and institutions made a notable regulatory update:

Regulation activity Business outcomes
Public and private labor activity
Published:
September 10, 2021
Determination of application of Law 19.947 relating to special schedules of public and private workers who choose to get vaccinations under the immunization plan for the SARS/CoV-2 VIRUS (COVID-19).

Biz Latin Hub can help you do business with Latin America

At Biz Latin Hub, our multilingual company formationOur team of legal, accounting, and recruitment professionals is ready to help you do business in Latin America. Our complete range of market entry and back office services ensures that our clients are compliant with all 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.

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