Foreign shareholding in road freight transportation companies is limited to 50%.
"CHAPTER I - General Provisions
ARTICLE 1. (Scope)
1. This Regulation applies to road transport of goods carried out for remuneration using motor vehicles or a combination of goods vehicles.
[...]
CHAPTER II - Access to Activity
ARTICLE 5.(Activity licensing)
1. The activity of public road transport of goods or on behalf of third parties, internally or internationally, may be carried out by natural or legal persons licensed by the National Directorate of Road Transport.[...]
5. Licensing to natural persons is only allowed to national citizens and resident foreigners and in the case of legal persons, foreign entities may only hold up to 50% of the capital stock of the companies to be licensed.[...]"(Presidential Decree no. 160/10 of 30 July: REGULATION FOR ROAD TRANSPORT OF GOODS [google translation])
Presidential Decree no. 160/10 of 30 July: REGULATION FOR ROAD TRANSPORT OF GOODS [google translation]
[<a href="https://www.atroma.org/data/uploads/pdfs/Regulamento-Transporte-Rodoviario-Mercadorias.pdf">Reg</a>]