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Every merchant and/or company has the obligation to annually renew his or her Commercial Registration and that of his or her or its commercial establishments. This must be carried out within the first three months of the year, i.e., no later than March 31, 2022.
Each company must summon to an ordinary meeting of its Board of Directors (if applicable) and, subsequently, Shareholders General Assembly or Quota-holders Board, as the case may be, within the first three months of the year or within the term provided for in the company’s bylaws, in order to review the companies’ situation, approve financial statements of the previous fiscal year along with management’s reports, grant dividends, appoint legal representatives and statutory auditors, among other topics.
The following documentation must be filed before the Superintendence of Companies:
3.1. Financial Statements This is an obligation for Companies under surveillance or control of the Superintendency of Companies. It also applies to Companies under inspection by the Superintendency of Companies, if they are directly required submit such requests by the entity.
Click here to check for due dates to file Financial Statements as of December 31, 2022.
3.2 Consolidated Financial Statements
It’s an obligation of companies under the Superintendence of Companies’ surveillance or control. Also applies for companies under inspection of the Superintendency, if directly required submit such request by the entity.
The consolidated Financial Statements shall be filed by May 31st of 2022.
Companies NOT REQUIRED to file information with the Superintendency of Companies MUST SUBMIT their Financial Statements before the Chamber of Commerce, where they have their main domicile, within the following month of its approval by Shareholders’ Meeting / Board of Partners.
3.3. Informe 42 – Business Practices Report
It’s a duty of entities under the Superintendence of Companies’ surveillance or control.
The dates to file Business Practice Report as of 2022, are the following.
Whenever a Corporate Control situation arises, or a Business Group of Companies is formed, there is a mandatory registration to be made at the Mercantile Registry, within the following 30 business days of its conformation. Once a Business Group is registered there is no need to register a Corporate Control Situation as well. Any change in a Control Situation or Business Group Situation must be registered within the same term mentioned above.
All companies shall keep the accountancy and corporate books for a period of minimum 10 years, from the date of the last registration, document or any other type of entry.
Each commercial company that has adopted the BIC status must prepare and submit to the maximum corporate body the BIC Management Report.
The BIC Management Report must be (i) prepared by the legal representative of the company, (ii) included in the management report at the end of the fiscal year, and (iii) present the development of the activities included in its corporate purpose.
BIC companies must submit the following information before the Superintendence of Companies:
6.1. Copy of the BIC Management Report.
6.2. Extract of the minutes of the highest corporate body where the BIC Management Report was presented and approved.
6.3. Support of having published the BIC Management Report on the company’s website, or if the company does not have a website, that it is available at the company’s domicile.
This information must be sent no later than May 31, 2022 to [email protected], addressed to the BIC Companies Supervision Group. BRANCHES