The Argentina Securities Commission (CNV) approved Interpretative Criterion No. 95 to clarify how foreign-incorporated companies applying to register in the Registry of PSAVs must demonstrate compliance with the minimum net worth required under CNV rules. Under General Resolution No. 1058, foreign companies must register locally as either a branch or a permanent representation under Article 118 of Law No. 19,550. Branches must have capital allocated in Argentina that is paid in and reflected in their financial statements, while permanent representations must evidence a specific allocation of assets in Argentina, using guarantee trusts where capital cannot be assigned. In all cases, firms must submit a report from an independent public accountant with a legalized signature to support the minimum net worth attestation.
Argentina Securities Commission (CNV) 2025-04-23
Argentina Securities Commission issues Interpretative Criterion 95 clarifying minimum net worth evidence for foreign PSAV registrations
The Argentina Securities Commission (CNV) issued Interpretative Criterion No. 95 to clarify compliance requirements for foreign companies registering in the Registry of PSAVs. Under General Resolution No. 1058, these companies must register as a branch or permanent representation, with specific capital or asset allocations in Argentina. An independent public accountant's report is required to attest to the minimum net worth.