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COVID-19 has disrupted business all over the world and Argentina is not the exception, although perhaps more informed and prepared because the outbreak of the virus is reaching our country later than in Asia or Europe. Yet, the business impact is significant and has a wide range of legal projections, some of which we will briefly go through in this post.
Registration and good standing of foreign companies in Argentina: significative business activity and decision-making center outside the country
To register as foreign companies or keep their good standing, among other requirements, foreign companies in Argentina must show evidence that they carry out or keep a significant business activity and their decision-making center outside the country.
By way of its General Resolution No. 2/2020 (hereinafter, the Resolution), published on the Official Gazette on 21 February 2020 and effective as of the same date, the General Inspectorate of Justice (Inspección General de Justicia. Hereinafter the IGJ) reinstated tighter controls on foreign companies in Argentina and additional obligations for their legal representatives.
Labor costs in Argentina have changed after the emergency declared by Law No. 27,541 on Social Solidarity and Productive Reactivation in the Framework of the Public Emergency , and its Regulatory Decree No. 99/19. These regulations introduced significant legal changes, including those related to social security contributions in Argentina which we will briefly review below.
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