Every year, businessmen and businesswomen from around the world choose to launch their business in Argentina, as you can enjoy numerous benefits by setting up a company here.
To start any professional or commercial activity in Argentina, you will first need the appropriate visa, which may be a work visa, temporary resident visa, or a permanent resident visa. For more information, read our article How to get a visa for Argentina or contact the Argentina Embassy or Consulate in your country. Then, you will need to complete the following steps in order to get your business off the ground:
1. Choose a company name and verify it with the General Inspection of Corporations (IGJ)
2. Specify the number of partners and certify their signatures by an approved notary
3. Deposit at least 25 % of the initial capital in the National Bank of Argentina and obtain proof of payment. To date, there is no limit on the amount of capital to be invested
4. Publish a notice of the new company in the country's official newspaper. The costs of publication vary according to the number of hours of publication and notice period
5. Pay incorporation fee of 100 pesos
6. Register with the Public Registry of Commerce of Argentina in Buenos Aires
7. Buy special books from a commercial bookstore. These include a book of minutes of partners' and managers' meetings, buyers VAT book, sellers VAT book, inventory and balance book and journal
8. Obtain a form from the Public Notaries College and have a notary submit the company books for rubricate by IGJ
9. Get your Fiscal Code (Clave Fiscal) at the National Tax Office. Non-Argentinian residents must link their CUIT with someone who has a Fiscal Code. Read more about how to obtain a CUIT here.
10. Register for social security at the National Tax Office
11. Register turnover tax at the local level at the Administración General de Ingresos Públicos (AGIP) in Buenos Aires
12. Register with the Sistema único de Seguridad Social (SUSS). This can be done online.
13. Take out risk insurance to cover occupational hazards with a workers' compensation insurer (Aseguradora de Riesgos del Trabajo)
14. Rubricate books of wages in the Dirección General de Empleo (Ministry of Labour)
In general, people who set up small businesses in Argentina opt for the status of Limited Liability Company or SRL (Sociedad de Responsabilidad Limitada) for their business, as the steps to establish an SRL are simpler than those required to set up a corporation and the bylaws are more flexible. With an SRL, liability is limited to the amount invested in the business. This type of company must have at least two members and no more than 50, and a change in one of the members means an amendment to the articles of incorporation must occur.
We hope you found this article useful! For more articles on working in Argentina, visit our website.
Useful links:
Ministry of Economy and Public Finance of Argentina
Doing business
Ministry of Labour
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