Foreign companies registration in Argentina: a significant breakthrough in the ease of doing business
Foreign companies registration in Argentina has just been greatly simplified by the Public Registry of the Autonomous City of Buenos Aires.
On 29 August2018, it was published in the Official Gazette the General Resolution No. 6/2018 issued by the General Inspectorate of Justice – IGJ – (the agency in charge of the Public Registry), amending the General Resolution No. 7/2015 in relation to the requirements for foreign companies to file for registration and do business in Argentina. This change is effective since 30 August 2018.
The most significant changes revolve around the repeals. In this line:
1. Foreign companies filing for registration with the Public Registry will no longer have to show evidence of the existence of assets or significant economic activities abroad. Nor will they have to name their partners;
2. The Annual Reporting Regime has been abolished. Once registered with the Public Registry, foreign companies will not need to submit yearly documents and information on their assets, business activities and partners;
3. However, given the case of companies that are set up, registered or incorporated in countries and jurisdictions considered non-cooperative for the purposes of fiscal transparency and / or the fight against Money Laundering and Financing of Terrorism, the IGJ will require proof on the existence of significant economic activities abroad, and will strictly evaluate the evidences submitted.
In a future article, we will summarize the updated list of documents and information to be put together for foreign companies registration in Argentina. For additional information on these or any other issues related to doing business in Argentina, please, sign up for our Legal Blog or contact us at any time.
Mario Eduardo Castro Sammartino
Our publications exclusively express the author´s opinion and do not purport to be legal counsel on any case. Should you need it, you must consult with your trusted lawyer or may contact us at your convenience. If you liked the article, please, share it.
Recent articles in our Legal Blog
Foreign investments in Argentina are protected by Articles No. 14 and 20 of the National Constitution.
Our Labor Guide to Doing Business in Argentina is intended to cover the basics of Argentine labor laws, the hiring process of employees, general salary and working conditions, termination of employment, and many other subjects of interest for those companies planning to do business in Argentina or already established and with a current payroll.
The commercial lease agreement in Argentina on urban real estate is governed by the Civil and Commercial Code of the Nation, as amended and supplemented by the new Lease Law No. 27,551. See what the main provisions are.
The Federal Congress has enacted new corporate income tax rates in Argentina, as of fiscal years beginning on or after 1 January 2021. See what these new rates are.
A new regulation on investment vehicles in Argentina has been issued by the General Inspectorate of Justice (Inspección General de Justicia, or IGJ), by means of the General Resolution No. 8/2021 published on the Official Gazette on May 17th, 2021.