Starting a Company in Argentina – Overview
In Argentina, you can find several chances and enormous possibilities to invest due to various reasons like huge collection of assets offered by nature, a cultured and educated personnel, digitally strong capabilities.
Some information about the innate assets of Argentina: top producer of agricultural products, large stock of shale oil and gas, partly explored stock of copper, lithium, silver, and gold.
In Argentina, along with Spanish an official and dominant language, more than 40 languages are spoken including Portuguese, English, French, and Italian. For the companies operating their business between different countries, it becomes easier to get staff in Argentina who can work in various languages.
Starting a Company in Argentina – Procedure
Here is an information about the registration of a SAS, Sociedad de Acciones Simplificadas, in Argentina. Starting of business registration consist of following steps: to register with Argentine Registry of Public and then 25% of the promised capital should be deposited in the Argentina National Bank. After a notice about the creation of a business to be published in the official legal gazette. At the end it needs to pay the incorporation fee to the Registry of Public.
After starting a company in Argentina you get official books of the company and a CUIT or number of identification for tax.
When you start a company in Argentina then you have to remember a few things like: Good reputation and organization. One of the shareholders should be a legal and natural person to start a SAS. The business has to be registered with the Public Registry, whatever be the arrangement of shareholders. SAS or Sociedad por Acciones Simplificadas should be included in the name of the company.
Chose purpose of the business which will define the activities of the business controlled by the company. But the company will not be allowed to trade its shares in the stock exchange, to operate loans and capitalize saving, to operate public benefits or concessions offered by the government.
The initial capital of a SAS should be equal to the salaries of at least 2 months or nearly AR$16,000. The partners of a SAS are authorized by law to organize the structure of the company and plan terms to control the business of the company. SAS companies can use electronic methods to maintain their books of accounts.
Benefits of Starting a Company in Argentina
The main reason to consider Argentina a potential business destination is a large number of skilled workers make Argentina a potential site for foreign investors. In Argentina, it is advantageous to hire and employ staff as the people living in it are normally very educated as mostly, they are fluent in English speaking.
Being a member of MERCOSUR, Argentina is very helpful for trading internationally. Argentina is a perfect place to start a business because it has access to various areas of Latin America without any restriction due to its international agreement of trade. Moreover, there are tax-free trading areas of two types in Argentina.
The constitution of Argentina encourages investments from foreign countries instead of restricting them. The treatment of law for overseas investors is similar to the local individuals and businesses. The overseas companies need not register or get approval to invest in Argentina. The base of natural assets in Argentina is vast and has a high potential to grow.
While starting a business you can choose from different types of companies or businesses available in Argentina. Each type of business has its requirements and benefits. The type of your business can depend in many cases, upon the activities and requirements of your business. So while choosing the best type of business you should talk to a native business specialist.
The laws introduced in Argentina in the last few years, to generate several business probabilities for the foreigners and locals, have made it a more potential place to do business. The creation of S.A.S. or Argentine Simplified Shares Company, a legal entity of new type, is a good example in this regard as it has persuaded the investors from other countries to start a business in this area.
Starting a company in Argentina has many different nuances and it is better to form the company with assistance of corporate service providers.
Would you like to start your company in Argentina, please contact our specialists!