Description
Investment from abroad in income generating economic activities, under any of the modalities set forth in Article 1 of Legislative Decree No. 662, are considered as foreign investment and must be registered before PROINVERSIÓN, as the Relevant National Agency.
The registration of the foreign investment guarantees the holder the right to transfer abroad, in freely convertible foreign currency, upon payment of the taxes required by law and without prior authorization from any authority of the Central Government or decentralized public agencies, the following:
- The full proceeds from investments, including the sale of shares, participations or rights, reduction of capital or partial or total liquidation of companies; and
- The full amount of dividends or proven net profits from its investment, as well as the consideration for the use or benefit of assets physically located in the country; and royalties and consideration for the use and transfer of technology, including any other element constituting industrial property authorized by the Relevant National Agency.
In all cases where foreign currency must be converted into domestic currency, or vice versa, foreign investors will have the right to use the most favorable buy/sell exchange rate at the time of the exchange transaction.