Through notice dated September 7, 2021, the Directorate General of Legal Persons and Structures and Final Beneficiaries (DGPEJBF) has announced that the first bimonthly communication, which listed the companies that are in good standing according to Decree No. 5895/2017, is set aside in view of Decree No. 5871/2021. This last Decree establishes a number of impairments, prohibitions and consequences for non-compliant companies, such as blocking of the RUC and prohibition to operate with entities that make up the financial system.

Said first communication was released by the DGPEJBF on August 26, 2021 and did not include companies that were incorporated with registered shares. For this reason, the mentioned Office will release a new communication on October 8, showing the list of companies in good standing. In view of this, the 5 business days period for the entities to apply sanctions will be counted as of that date.

At BKM | Berkemeyer we remain available to answer all your questions.

For more information please contact:

Bruno Lafarja bruno.lafarja@berke.com.py

Mauro Mascareño mauro.mascareno@berke.com.py