On December 30, 2016, the Argentine Central Bank issued
Communication "A" 6137 to increase flexibility of certain
foreign exchange restrictions that remained in place following the
changes introduced by Communication "A" 6037 in August
The main modifications are:
Export of Services and
Insurance Payments: The new regulation removes the
obligation to transfer to Argentina the proceeds in foreign
currency that residents obtain from exports of services and
insurance payments made by non residents within 365 days from
receipt of the funds. Such proceeds must only be transferred to
Argentina and converted into local currency if they form part of
the FOB and/or CyF value of the exported goods, pursuant to the
regulations applicable to the proceeds from the export of
assets: The new regulation removes the obligation to
transfer to Argentina the proceeds in foreign currency that
residents obtain from the sale or disposition of nonproduced,
non-financial assets (such as fishing rights, mining rights, rights
related to the air and electromagnetic space, athlete transfers,
patents, copyrights, concessions, leases, registered trademarks,
logotypes and internet dominions) within 365 days from receipt of
Foreign exchange transactions
in cash: The new regulation removes the amount limits
applicable to foreign exchange transactions in cash, both for
residents and non residents, including local arbitration between
foreign exchange bills.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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In December 2001 and after over ten years of economic deregulation, the Central Bank of the Republic of Argentina imposed very tight exchange controls. As from the end of the year 2002, the Central Bank has gradually loosened...
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