ARGENTINA

On January 6, the Argentine Central Bank decided that importers of luxury goods and of a specific set of final goods must obtain financing before accessing the forex market for making payments. Importers may only access the forex market 90 days after customs clearance in the case of final goods, and after 365 days in the case of luxury goods. This measure will apply to every good shipped as from January 7, 2021.

The luxury products falling within the scope of this measure include high-end automobiles and motorcycles; private jets over one million dollars; ships for recreational use; beverages worth over USD 50 per liter; caviar; pearls; diamonds and other precious stones.

In other news, the BCRA announced the creation of the “Registry of Exchange Information of Exporters and Importers of Goods” to simplify compliance with foreign exchange regulations and indicate any foreign currency purchase and settlement transactions performed. Registration is mandatory “for the leading 100 companies operating in foreign trade, both importers and exporters.”