What changed

Rule changes across our living guides, newest first. JSON feed

Date	Country	Page	Change
2026-10-26	Brazil	Capital markets and finance in Brazil: who regulates, how to raise debt and equity, and how foreign investors are taxed	In force from 2 January 2023, Resolução CVM nº 160 replaced Instruções CVM nº 400 and 476 with a single regime: offers to professional investors that used the restricted effort exemption of Instrução 476 now obtain automatic registration through the CVM SRE system.
2026-10-26	Brazil	Capital markets and finance in Brazil: who regulates, how to raise debt and equity, and how foreign investors are taxed	Resolução Conjunta nº 13, in force from 1 January 2025, replaced Resolução CMN nº 4.373 of 29 September 2014 and the related Central Bank rules as the framework for foreign portfolio investment.
2026-10-26	Brazil	Capital markets and finance in Brazil: who regulates, how to raise debt and equity, and how foreign investors are taxed	Lei nº 15.506 of 16 September 2026, the National Policy on Critical and Strategic Minerals, amended art. 2 § 2 item II to favor projects that process critical and strategic minerals for the energy transition and added the R$5,000,000,000 revenue cap in § 10.
2026-10-26	Chile	Employing people in Chile: contracts, working hours, minimum wage, social security, dismissal and severance, unions and outsourcing	The 42 hour limit took effect on 26 April 2026 under Ley Nº 21.561 (Diario Oficial 26 April 2023), replacing the 44 hour limit in force since 26 April 2024; the Dirección del Trabajo set the default implementation rule in Dictamen ORD. Nº 253/21 of 16 April 2026. The next and final step to 40 hours takes effect on 26 April 2028.
2026-10-26	Chile	Employing people in Chile: contracts, working hours, minimum wage, social security, dismissal and severance, unions and outsourcing	Ley Nº 21.830 (Diario Oficial 22 June 2026) raised the general minimum to CLP 553,553 from 1 May 2026, up from CLP 539,000 set from 1 January 2026 by Ley Nº 21.751 (Diario Oficial 28 June 2025), and provides an inflation adjustment from 1 January 2027.
2026-10-26	Chile	Employing people in Chile: contracts, working hours, minimum wage, social security, dismissal and severance, unions and outsourcing	Under the fourth transitory article of Ley Nº 21.735 (Diario Oficial 26 March 2025) the employer pension contribution rose from 1 percent to 3.5 percent of taxable pay on 1 August 2026; the next step, to 4.25 percent, is due on 1 August 2027.
2026-10-25	Brazil	Brazil macro at a glance: the rules behind rates, inflation, the budget and the real	From 1 January 2025 the calendar year target under Decreto nº 3.088 of 1999 was replaced by a continuous target checked monthly over 12 months; Decreto nº 3.088 was revoked on that date (art. 8).
2026-10-25	Brazil	Brazil macro at a glance: the rules behind rates, inflation, the budget and the real	Lei Complementar nº 211 of 2024 added art. 5-A, subjecting growth in new or extended social security benefits to the same spending growth rules; Lei Complementar nº 223 of 2025 excluded temporary education and health spending under Lei nº 15.164 of 2025 from the limits from 2025 (art. 3, § 2, X).
2026-10-25	Brazil	Foreign investment in Brazil: an open regime, a short list of restricted sectors and regional tax incentives	Lei nº 13.986 of 7 April 2020 added art. 1 § 2: the restrictions do not apply to inheritance, to the grant of security interests including fiduciary transfer to a national or foreign company, or to receipt of the land when enforcing such security or taking it in payment.
2026-10-25	Brazil	Foreign investment in Brazil: an open regime, a short list of restricted sectors and regional tax incentives	Lei nº 13.986 of 7 April 2020 rewrote art. 2 § 4: granting security over rural land, including fiduciary transfer, to national or foreign companies, and receiving the land when enforcing it, no longer need prior consent.
2026-10-25	Brazil	Foreign investment in Brazil: an open regime, a short list of restricted sectors and regional tax incentives	Lei nº 13.097 of 19 January 2015 rewrote art. 23 to permit foreign participation, including control, in hospitals and clinics.
2026-10-25	Brazil	Foreign investment in Brazil: an open regime, a short list of restricted sectors and regional tax incentives	Decreto nº 10.029 of 26 September 2019 moved recognition of the Government's interest from presidential decree case by case to the Central Bank, as part of its ordinary authorization process.
2026-10-25	Brazil	Foreign investment in Brazil: an open regime, a short list of restricted sectors and regional tax incentives	Lei nº 13.842 of 17 June 2019 (conversion of Medida Provisória nº 863 of 2018) repealed items I to III and §§ 1 to 4 of art. 181 and arts. 182, 184, 185 and 186 of the Code.
2026-10-25	Brazil	Foreign investment in Brazil: an open regime, a short list of restricted sectors and regional tax incentives	Lei nº 14.753 of 12 December 2023 extended the deadline for filing and approving projects from 31 December 2023 to 31 December 2028.
2026-10-25	Brazil	Choosing an entity in Brazil: Ltda, S.A. or branch of a foreign company	Lei nº 13.874 of 20 September 2019 (Economic Freedom Law) allowed the single member Ltda. Lei nº 14.195 of 26 August 2021, art. 41, converted every existing EIRELI into a single member Ltda. without any change to its incorporation document.
2026-10-25	Brazil	Choosing an entity in Brazil: Ltda, S.A. or branch of a foreign company	Lei nº 14.451 of 21 September 2022, in force 30 days after publication, cut the quorum to appoint non quotaholder managers from unanimity (capital not paid in) and two thirds (capital paid in) to the current levels, and replaced the former three quarters quorum for amending the articles, mergers and dissolution with more than half of the capital.
2026-10-25	Brazil	Choosing an entity in Brazil: Ltda, S.A. or branch of a foreign company	Lei Complementar nº 182 of 1 June 2021 reduced the minimum executive board from two officers to one. Lei nº 14.195 of 26 August 2021 dropped the requirement that officers (diretores) reside in Brazil and extended the resident representative rule to any non resident manager.
2026-10-25	Brazil	Choosing an entity in Brazil: Ltda, S.A. or branch of a foreign company	Lei nº 13.818 moved mandatory publications from the official gazette plus a newspaper to a single newspaper with full online text, effective 1 January 2022. Lei Complementar nº 182 replaced the small company test (fewer than 20 shareholders and equity up to R$10,000,000) with annual gross revenue up to R$78,000,000, in force 90 days after publication.
2026-10-25	Brazil	Choosing an entity in Brazil: Ltda, S.A. or branch of a foreign company	Decreto nº 11.497 of 20 April 2023 revoked Decreto nº 9.787 of 2019 and delegated the authorization, amendment, nationalization and revocation acts to the Minister of Development, Industry, Trade and Services, with possible subdelegation to the Director of the national business registry department (DREI); activities involving controlled products need prior consent of the Army Command.
2026-10-25	Brazil	FX and capital controls in Brazil: free convertibility, IOF costs and how to get dividends, loans and capital out	Lei nº 14.286 (effective one year after publication on 30 December 2021) rewrote Lei nº 4.131 art. 9 to keep only the tax payment condition and repealed the 1962 law's registration and remittance provisions.
2026-10-25	Brazil	FX and capital controls in Brazil: free convertibility, IOF costs and how to get dividends, loans and capital out	Lei nº 15.270 of 26 November 2025, in effect from 1 January 2026 (art. 8), ended the exemption that dividends sent abroad had enjoyed since 1996 and created the 10 percent withholding.
2026-10-25	Brazil	FX and capital controls in Brazil: free convertibility, IOF costs and how to get dividends, loans and capital out	Decreto nº 12.499 of 11 June 2025 added item XVII-A (zero IOF on return of foreign direct investment) and item XXV (0.38 percent on other inflows). Congress suspended the decree by Decreto Legislativo nº 176 of 2025; on 16 July 2025 a Supreme Court (STF) injunction in ADC 96, issued ad referendum of the full court, restored it from 11 June 2025 except the rules on supplier finance (risco sacado).
2026-10-25	Brazil	FX and capital controls in Brazil: free convertibility, IOF costs and how to get dividends, loans and capital out	Decreto nº 12.466 of 22 May 2025 and then Decreto nº 12.499 of 11 June 2025 changed item XII from 6 percent on loans of up to 180 days to 3.5 percent on loans of up to 364 days.
2026-10-25	Brazil	FX and capital controls in Brazil: free convertibility, IOF costs and how to get dividends, loans and capital out	Item XXIV (3.5 percent residual rate on outflows) was created by Decreto nº 12.466 of 22 May 2025 and kept by Decreto nº 12.499; item XXI-A (1.10 percent) was created by Decreto nº 12.499.
2026-10-25	Brazil	FX and capital controls in Brazil: free convertibility, IOF costs and how to get dividends, loans and capital out	Resolução BCB nº 575 of 18 June 2026, in force from 1 October 2026, reworded arts. 7, 23, 28 and 29 to cover payments by any means (including the new foreign currency accounts) and not only FX remittances.
2026-10-25	Brazil	FX and capital controls in Brazil: free convertibility, IOF costs and how to get dividends, loans and capital out	Resolução BCB nº 575 of 18 June 2026, in force from 1 October 2026, opened foreign currency accounts to exporters, foreign invested companies, external debtors and their foreign parents and lenders. Before, the list was limited to sectors such as tourism, insurers, energy projects and oil and gas.
2026-10-25	Brazil	Employing people in Brazil: contracts, real cost of a hire, hours, dismissal and outsourcing	Raised from R$1,518.00 in 2025 to R$1,621.00 from 1 January 2026 (published in the DOU of 24 December 2025).
2026-10-25	Brazil	Employing people in Brazil: contracts, real cost of a hire, hours, dismissal and outsourcing	Promulgated and published in the DOU extra edition of 16 October 2026. The 2 rest day rule (CF art. 7, XV) takes effect two months after publication; the rest of the amendment took effect on publication, with the hours cut phased to 42 hours after two months (mid December 2026) and 40 hours one year later (mid December 2027).
2026-10-25	Brazil	Visas and residence in Brazil for investors, executives and staff	Decreto nº 12.657, published in the DOU of 8 October 2025, rewrote the list of business activities allowed to visitors (Decreto nº 9.199 art. 29 § 3), expressly including technical assistance and technology transfer under a contract, agreement or covenant between a foreign and a Brazilian legal entity.
2026-10-25	Brazil	Visas and residence in Brazil for investors, executives and staff	Resolução CNIG/MJSP nº 49 of 25 June 2024 moved the decision to the Ministry of Justice and Public Security, required the foreign exchange contract as proof of the investment, and set the residence term as indefinite. Decreto nº 12.657 of 7 October 2025 abolished the CNIg (it revoked Decreto nº 9.873/2019) and provides that future investor requirements will be set by joint ordinance of the Ministers of Justice and of Foreign Affairs; the Ministry's digital library lists the CNIg resolutions with no express revocation.
2026-10-25	Brazil	Visas and residence in Brazil for investors, executives and staff	Decreto nº 12.657 of 7 October 2025 provides that requirements for investment residence, including for executives, follow a joint act of the Ministers of Justice and Public Security and of Foreign Affairs (Decreto nº 9.199 arts. 43 § 2 and 151 § 4).
2026-10-25	Brazil	Visas and residence in Brazil for investors, executives and staff	Resolução CNIG MJSP nº 46 of 9 December 2021 set the initial term at 4 years with conversion to indefinite residence, and added the minimum stay of 14 days every 2 years.
2026-10-25	Brazil	Importing and exporting in Brazil: the core rules	Emenda Constitucional nº 132 of 20 December 2023 extended export immunity, with full credit retention, to the new IBS that replaces ICMS and ISS during the tax reform transition.
2026-10-25	Brazil	Importing and exporting in Brazil: the core rules	Lei 14.286, in force one year after its publication at the end of 2021, removed the National Monetary Council limits and the rule that funds kept abroad could only be used for the exporter's own investments, financial applications or obligations.
2026-10-25	Chile	Start here: the legal gateways every foreign investor crosses in Chile	Ley Nº 21.850, promulgated 9 October 2026 and published in the Diario Oficial on 17 October 2026, legislated a gradual cut of the general corporate rate from 27 percent to 23 percent by commercial year 2029.
2026-10-25	Chile	Start here: the legal gateways every foreign investor crosses in Chile	Created by Ley Nº 21.850, published in the Diario Oficial on 17 October 2026, with application from 1 January 2027.
2026-10-25	Chile	Chile macro at a glance: the rules behind rates, inflation, the budget and the peso	Ley Nº 21.683, published 14 August 2024, turned the structural balance rule into a dual rule by adding the medium term gross debt anchor and introduced the escape clause of art. 1 ter. Under the new rule the current administration set its targets in Decreto Nº 486 of 2026 of the Ministry of Finance: a structural deficit falling from 2.6 percent of GDP in 2026 to 1.5 percent in 2030, with the debt anchor at 45 percent of GDP. DIPRES reported on 14 July 2026 that the decree was announced on 9 June 2026 and was then under review by the Contraloría General de la República.
2026-10-25	Chile	Foreign investment in Chile: the framework law, FX and remittance rights, incentives, tax stability contracts and restricted sectors	Ley Nº 20.848 (25 June 2015) wrote the current exemption into DL 825 from 1 January 2016, requiring income only after at least twelve months and, for foreign investors, the InvestChile certificate. The consolidated text in force on the verification date runs the test from two months after the first import, the environmental approval or the land concession, and no longer requires the certificate to be attached.
2026-10-25	Chile	Foreign investment in Chile: the framework law, FX and remittance rights, incentives, tax stability contracts and restricted sectors	New regime created by Ley Nº 21.850, published in the Diario Oficial on 17 October 2026, effective 1 January 2027. The Ministry of Finance must issue regulations within six months on reorganization reporting and on minimum terms of the arbitration clause, and the SII must issue a resolution on separate accounting.
2026-10-25	Chile	Foreign investment in Chile: the framework law, FX and remittance rights, incentives, tax stability contracts and restricted sectors	Ley Nº 21.850, published 17 October 2026, set the step down from 27 percent in 2026 to 23 percent from 2029.
2026-10-25	Chile	Foreign investment in Chile: the framework law, FX and remittance rights, incentives, tax stability contracts and restricted sectors	Ley Nº 21.774, published 19 November 2025, replaced art. 3 to open cabotage to competition, adding the regular service and outbound route exceptions. The outbound route exception phases in at 50 percent of the unloaded cargo in the first year and 100 percent in the second, and the new rules apply between points in the Los Lagos, Aysén and Magallanes regions only three years after publication (Ley Nº 21.774, second and third transitory articles).
2026-10-25	Chile	Choosing a legal entity in Chile: SpA, S.A., Ltda., EIRL or branch, with registry, capital, governance and annual cost rules	Ley Nº 21.608, published in the Diario Oficial on 23 September 2023, replaced "un mes contado" with "sesenta días contados" in the first paragraph of art. 426, doubling the deadline to register and publish the SpA extract under the traditional (non online) route from one month to 60 days.
2026-10-25	Chile	Choosing a legal entity in Chile: SpA, S.A., Ltda., EIRL or branch, with registry, capital, governance and annual cost rules	The 2,000 shareholder trigger in art. 2 of Ley Nº 18.046 is in the text in force since 4 January 2023; SII Circular Nº 46 of 2008 described the earlier test of 500 shareholders, or 10 percent of capital held by at least 100 shareholders.
2026-10-25	Chile	Choosing a legal entity in Chile: SpA, S.A., Ltda., EIRL or branch, with registry, capital, governance and annual cost rules	Ley Nº 21.850, published in the Diario Oficial on 17 October 2026, set the step down from 27 percent in 2026 to 23 percent from commercial year 2029.
2026-10-25	Chile	FX and capital controls in Chile: free exchange, the formal FX market, Central Bank reporting, and getting capital, dividends and interest out	The new FX Compendium, published in the Diario Oficial on 30 January 2024, replaced the former Compendium and repealed all its chapters and its Manual from 1 January 2026.
2026-10-25	Chile	FX and capital controls in Chile: free exchange, the formal FX market, Central Bank reporting, and getting capital, dividends and interest out	From 1 January 2026 the former Chapter XIV (liabilities with abroad) and Chapter XII (assets abroad) were folded into Chapter II, Letter B, Section IV of the new Compendium, with reporting through the Central Bank's FX information system (SICAM).
2026-10-25	Chile	FX and capital controls in Chile: free exchange, the formal FX market, Central Bank reporting, and getting capital, dividends and interest out	Art. 49 Nº 2 was amended by Ley Nº 21.641 (Diario Oficial 30 December 2023), art. 3 Nº 8.
2026-10-25	Chile	FX and capital controls in Chile: free exchange, the formal FX market, Central Bank reporting, and getting capital, dividends and interest out	Ley Nº 21.850 (Diario Oficial 17 October 2026) repeals the final paragraph of art. 63 (the restitution rule) from 1 January 2027, but its fifth transitory article keeps a restitution of 30 percent for corporate tax credits generated in tax year 2028 and 20 percent for those generated in tax year 2029.
2026-10-25	Chile	Taxes in Chile: the core system for foreign investors, from corporate tax and the integrated dividend regime to withholding, VAT and the tax calendar	Ley Nº 21.850 (Diario Oficial 17 October 2026) cuts the general rate from 27 percent to 25.5 percent for commercial year 2027, 24 percent for 2028 and 23 percent from 2029. Monthly provisional payment rates for January to March of 2027, 2028 and 2029 are reduced by 5.56, 5.88 and 4.17 percent respectively to reflect the cuts (seventh transitory article).
2026-10-25	Chile	Taxes in Chile: the core system for foreign investors, from corporate tax and the integrated dividend regime to withholding, VAT and the tax calendar	Ley Nº 21.755 (Diario Oficial 11 July 2025) cut the Pro Pyme rate from 25 percent to 12.5 percent for 2025 to 2027 and 15 percent for 2028, subject to the pension contribution schedule. From 1 January 2029 Ley Nº 21.850 also lowers the Pro Pyme provisional payment rates in art. 14 letter D Nº 3 literal (k) from 0.25 percent to 0.23 percent.
2026-10-25	Chile	Taxes in Chile: the core system for foreign investors, from corporate tax and the integrated dividend regime to withholding, VAT and the tax calendar	Ley Nº 21.850 (Diario Oficial 17 October 2026) repeals the restitution rule from 1 January 2027, but keeps a restitution of 30 percent for first category credits generated in tax year 2028 (commercial year 2027) and 20 percent for those of tax year 2029 (commercial year 2028), with the treaty country exception preserved. Credits accumulated up to 31 December 2026 are allocated first, in the form and order in force on that date.
2026-10-25	Mexico	Start here: the legal gateways every foreign investor crosses in Mexico	The art. 9 asset threshold rose from MXN 26,978,252,017.64 (Sixth General Resolution, DOF 24 June 2024) to MXN 28,623,925,390.72, adjusted by Mexico's 2024 nominal GDP growth of 6.1 percent; published DOF 5 August 2025 and in force from the following day. It applies until the CNIE issues a new general resolution.
2026-10-25	Mexico	Mexico's economy at a glance: the rules behind rates, inflation, the peso and the budget	On 7 May 2026 Banxico cut the target rate by 25 basis points to 6.50 percent and described the move as closing the easing cycle that began in March 2024. It then held at 6.50 percent on 25 June, 6 August and 24 September 2026. The 24 September statement said Mexican policy does not have to react mechanically to US Federal Reserve moves.
2026-10-25	Mexico	Mexico's economy at a glance: the rules behind rates, inflation, the peso and the budget	The 2027 Economic Package, delivered to Congress on 8 September 2026, targets RFSP of 3.9 percent of GDP for 2027 (1.8 points below 2024), after a 2026 target of 4.1 percent, with the SHRFSP debt stock projected at 55.0 percent of GDP at the end of 2027.
2026-10-25	Mexico	Mexico's economy at a glance: the rules behind rates, inflation, the peso and the budget	Pending: the Chamber of Deputies approved the 2027 Federal Revenue Law in October 2026 (331 votes in favor and 118 against in general) with a net domestic borrowing ceiling of MXN 1.7 trillion and net external borrowing of up to USD 13,500 million, and sent it to the Senate. It is not law until the Senate approves it and it is published in the DOF.
2026-10-25	Mexico	Mexico's economy at a glance: the rules behind rates, inflation, the peso and the budget	1 July 2026: the joint review ended without an immediate 16 year extension; the parties moved to annual reviews with the treaty in force until 2036 (Ministry of Economy statement on the fifth Free Trade Commission meeting).
2026-10-25	Mexico	Investing in Mexico: the foreign investment regime, screening and the Plan México incentives	Senate approval on 30 September 2026; the bill is pending in the Chamber of Deputies as of 25 October 2026. If enacted, CNIE silence on national security reviews would mean denial, not approval as under LIE art. 28 today.
2026-10-25	Mexico	Choosing a legal entity in Mexico: S.A., S. de R.L., S.A.S. or branch, with capital, governance, registration and annual compliance rules	LGSM decree DOF 20 October 2023 expressly allowed board and shareholder meetings by electronic means (arts. 6, fraction XIV, 143 and 178).
2026-10-25	Mexico	Choosing a legal entity in Mexico: S.A., S. de R.L., S.A.S. or branch, with capital, governance, registration and annual compliance rules	The SAS revenue cap rose from MXN 7,398,448.74 for 2025 to MXN 7,678,849.94 for 2026 (Ministry of Economy agreement in force 1 January 2026).