Bill on investment funds to promote foreign investment – approved by Congress

On 20 November 2013, the Congress approved Bill 7966-05 of 4 October 2011, which systematizes and modernizes the fund administration legislation with the aim to improve its international competitiveness and to simplify its tax treatment. It is expected that this initiative will improve the access to financing for small and medium enterprises (SMEs) and the risk capital industry and that it will allow the positioning of the country as a regional platform for financial services and fund administra…