Circular CAMEX 1-1043: Foreign Exchange and Currency Adjustments

"Año de la Reconstrucción de la Nación Argentina" "Año de la Reconstrucción de the Nation Argentina"

COMMUNICATION "A" 8230 16/04/2025
TO FINANCIAL ENTITIES,
TO EXCHANGE HOUSES:
Ref.: Circular
CAMEX 1-1043:
Foreign Exchange and Currency. Adjustments.
___________________________________________________________________________ We address you to inform you that this Institution has adopted the following resolution:

1. Establish that it will not be necessary to have the prior approval provided for in point 3.5.6. of the consolidated text on Foreign Exchange and Currency to access the foreign exchange market for the payment of capital of financial debts included in point 3.5. of the aforementioned regulation with counterparties linked to the debtor that have an average life of no less than 180 (one hundred eighty) days and the funds have been deposited and liquidated through the foreign exchange market from 21/04/25.

2. Establish that it will not be necessary to have the prior approval provided for in point 3.13.1. of the consolidated text on Foreign Exchange and Currency to access the foreign exchange market for the repatriation of direct investments by non-residents in companies that are not controllers of local financial entities, provided that the capital contribution has been deposited and liquidated through the foreign exchange market from 21/04/25 and the repatriation takes place at least 180 (one hundred eighty) days after the liquidation of the funds.

3. Establish that it will not be necessary to have the prior approval provided for in point 3.13.1. of the consolidated text on Foreign Exchange and Currency to access the foreign exchange market for the repatriation by non-residents of capital services, rents, and the proceeds from the sale of portfolio investments in instruments quoted in local markets authorized by the National Securities Commission, provided that: (i) there is a certification from a local financial entity accrediting that the investment was constituted with funds deposited and liquidated in the local foreign exchange market from 21/04/25, (ii) there is documentation demonstrating that the amount for which access to the market is sought does not exceed the services charged and/or the amount effectively received from the sale of the investment made, and (iii) the repatriation takes place at least 180 (one hundred eighty) days after the liquidation of the funds.
   In the case where the charging of services or sale of the investment is received in foreign currency, the repatriation may be carried out for up to the equivalent of that amount.

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4. Reduce to 180 (one hundred eighty) days the period provided for in the second paragraph of point 3.5.3. of the consolidated text on Foreign Exchange and Currency for new issuances that are finalized from 21/04/25.

Likewise, we inform you that we will subsequently send you the forms that, in replacement of those previously provided, will need to be incorporated into the reference regulations. We greet you sincerely.

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
Oscar C. Marchelletta Marina Ongaro
Principal Manager of
Foreign Exchange and Currency
General Manager of
Financial Regulation