On August 6, 2020, Resolution 33/2020 (the “Resolution”) of the Public Registry of Commerce (PRC) was published in the Official Gazette.
The Resolution establishes that, in the following cases, trusts shall be registered with the PRC:
- In the event one or more of the trustees when his place of residence or special domicile is located within the City of Buenos Aires; or
- In the event shares of a company registered with the PRC, or industrial or commercial establishments located in the City of Buenos Aires are form part of the assets of the trust.
- In the event movable or immovable property located in the City of Buenos Aires form part of the assets of the trust.
Financial trusts that make public offering are exempt from being registered with IGJ and the Resolution is not applicable to foreign trusts.
The Resolution entered into force on August 6th, 2020.