On February 1, 2022, the public registry of commerce (the “IGJ“) published General Resolution No. 1/2022 (the “Resolution”), by means of which established that the maximum duration term for commercial companies will be of 30 years.
The Resolution established that all articles of incorporation to be registered with the IGJ must include the term of duration of the company, which may not exceed 30 years from the date of its registration with such entity. According to customary and usual practices, said term used to be for a maximum period of 99 years, therefore, the Resolution forces the corporate renewal in a substantially shorter term.
The Resolution applies to all companies organized in the jurisdiction of the Autonomous City of Buenos Aires after the publication of the Resolution in the Official Gazette.
For further information, please do not hesitate to contact corporate@trsym.com.