New regulatory framework of the Public Registry of the City of Buenos Aires
On July 16, 2024, General Resolution No. 15/2024 (the “General Resolution No. 15/2024“) was enacted by the Public Registry of the City of Buenos Aires, replacing the regulatory regime established by General Resolution No. 7/2015 applicable to local and foreign companies, and non-governmental entities.
General Resolution No. 15/2024 represents a comprehensive reform of the previously existing regime. The most significant changes focus on the following topics:
- The incorporation, functioning, dissolution, and liquidation of non-governmental entities;
- The constitution and functioning of local companies;
- Contributions of digital assets and cryptocurrencies to local companies;
- Registration and functioning of foreign companies;
- Registration of associative agreements and trusts;
- The regime of simplified corporations (SAS); among others.
General Resolution No. 15/2024 will come into force on November 1, 2024, until which date the previous regime will remain in force and will be applicable to procedures to be filed and in progress until their conclusion, even if this must occur after the entry into force of General Resolution No. 15/2024.
Notwithstanding this, in the procedures to be initiated or in progress before its entry into force, the application of the provisions of General Resolution No. 15/2024 that the interested parties consider more favorable, may be requested.
The official text of Annex I of General Resolution No. 15/2024, can be found at the following link.
In the following weeks, we will be sending bi-weekly newsletters with more information and in-depth guidance on the most relevant topics arising from General Resolution No. 15/2024.
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This is a general comment which does not imply an advise or legal opinion. In case it is required, please, contact our professionals.