Regulatory Alerts2024-11-05 | CD-SIBOIF-1474-2-NOV5-2024Norm on the Update of the Social Capital of General Warehouses
The Board of Directors of the Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1474-2-NOV5-2024 to update the minimum social capital for general warehouses and their foreign branches to C$40,551,500.00. This adjustment is mandated by law to reflect currency variations and supersedes the previous capital requirement established in November 2022. Entities holding capital below this new minimum must update their subscribed and paid capital within seven calendar days following their next Ordinary General Shareholders' Meeting.
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