Simplified Corporations

Dissemination & Capacity Building

In furtherance of the mandate from the OAS General Assembly to disseminate the Model Law on the Simplified Corporation as widely as possible (International Law, AG/RES. 2906, June 2017), the Department has requested that each Member State consider the appointment of a Focal Point to enable a channel of communication between the OAS and those offices, ministries or bodies responsible for the modernization of corporate legislation and simplification of business incorporation. By means of this mechanism, a network is being established for the effective dissemination of the Model Law throughout the hemisphere.

The first regional meeting of this network of Focal Points was held virtually in August, 2019, when the Department of International Law and the Department of Economic Development joined forces for a virtual meeting, with the focus being the Model Law and its particular benefits for MSMEs. The meeting included an overview of the Model Law and its development within the context of Law 1258 of Colombia, after which the OAS model was largely based. This was followed by a presentation on the legislative reform initiative to implement the Model Law in Uruguay. The meeting then offered a forum for questions and dialogue.

More of such exchanges will lead to concrete opportunities for horizontal cooperation as the regional network of Focal Points is expanded and strengthened. Participants have been asked to provide information or updates on the status of reforms in their respective countries, which has been incorporated into a report for the region as a whole and is available here.