Foreign companies. Restitution of its audit regime | Abeledo Gottheil

Foreign companies. Restitution of its audit regime

On February 21, 2020, the General Resolution No. 2/2020 of the General Inspection of Justice (IGJ) was published in the Official Gazette, by which the inspection requirements for companies incorporated abroad, registered in the Public Registry under the terms of Articles 118 and 123 LGS, were reinstated within RG No. 7/2015 of the agency. Such requirements had been eliminated and/or substituted by the previous administration, through RG No. 6/2018 of the IGJ, which was now repealed in all its terms.

Additionally, the new resolution imposes on the representatives of foreign companies the obligation to provide the guarantee provided for in Article 76 of General Resolution No. 7/2015, for an amount that must be equivalent to five times the minimum capital established for the incorporation of corporations.

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