Start a Business in Argentina

A view from the water looking at the Business District of Buenos Aires, Argentina

Start a Business in Argentina

How to Start a Business in Argentina

Argentina is set up to be welcoming to foreigners starting businesses in the country—though the amount of paperwork to do so can seem overwhelming. (That is required, however, of local citizens just as well.)

Many foreign business owners consider the paperwork and accompanying headaches worth it to owning a business in Argentina, though, mostly because it is rife with opportunity and local talent. The benefits to incorporating in Argentina obviously are the ability to conduct business freely and openly in the local market. Because Argentina is currently in a more protectionist phase where it is looking to promote local industry and rely less on imports, it is even more crucial for corporations looking to do work in Argentina to have a local incorporated presence.

One major frustration many business owners who are used to working in foreign countries have relates to corruption. Corruption is well embedded in the Argentine culture, in both small and big ways. Corners sometimes are cut with processes and paperwork. In extreme cases, many people own and operate flourishing business en negro (in black) and not officially on the books. To a scrupulous and careful business owner who follows all of the many steps required to get a business off the ground, this can be maddening.

It is recommended to enlist the help of consultants and companies with on-the-ground expertise when considering incorporating in Argentina. It is a legally complex country with laws regularly changing and being added, especially during an unstable economic time.

Procedures For Starting A Business in Argentina Estimated Completion Time Associated Fees And Costs
The name of the company is verified by the Office of Corporations (Inspección General de Justicia) (IGJ) 1 day ARS 210
Certify signatures of partners by a notary public 1 day Approximately ARS 1,000 to ARS 1,500 (cost of 5 notarized signatures)
Deposit initial capital in National Bank (Banco de la Nación Argentina) and obtain proof of payment 1 day ARS 45 (VAT excluded)
Publish the new company’s notice in the official paper (Boletín Oficial) 2 days on average approximately ARS 2,500 (expedited publication fee) + ARS 100 (legalization of signature)
Payment of the incorporation fee 1 day ARS 100
Registration with the Public Register of Commerce of the City of Buenos Aires 5 days on average (expedited procedure) ARS 3,360 for expedited procedure
Buy special books 1 day fees included in procedure 8
Get a form from the Public Notaries College and have a notary public submit the company books for rubrication by the General Inspection of Justice (IGJ) 5 days (urgent filling) ARS 3,018
Corporate manager needs to obtain a Fiscal Code (Clave Fiscal) 1 day no charge
Obtain a tax identification number (CUIT) from the National Tax Office (Administración Federal de Ingresos Públicos, AFIP) and register for social security 4 days no charge
Register turnover tax at local level at the Administración General de Ingresos Públicos (AGIP) in the City of Buenos Aires Less than one day (online procedure) no charge
Register with the Sistema Unico de Seguridad Social (SUSS) Less than one day (online procedure) no charge
Contract an insurance for employees with a risk labor company (ART, Aseguradora de Riesgos del Trabajo) 1 day no charge
Rubricate books of wages in the Dirección General de Empleo (Ministry of Labor) 1 day ARS 5 per page (an average of 20-25 pages)

Source: doingbusiness.org

FEATURED PRODUCTS

Overseas Retirement Circle

Discover Europe Kit

Our most comprehensive resource on Europe, including reports on all the top destinations!


LEARN MORE ►
Overseas Living Letter

Overseas Living Letter

Yes, You Can Live Well On $723 A Month Or Less: Here's How!


LEARN MORE ►
Country Retirement Reports

Country Retirement Reports

Browse our library of over 70 Country Retirement Reports... only US$9.95 each!


LEARN MORE ►

Start a Business in Argentina

How to Start a Business in Argentina

Argentina is set up to be welcoming to foreigners starting businesses in the country—though the amount of paperwork to do so can seem overwhelming. (That is required, however, of local citizens just as well.)

Many foreign business owners consider the paperwork and accompanying headaches worth it to owning a business in Argentina, though, mostly because it is rife with opportunity and local talent. The benefits to incorporating in Argentina obviously are the ability to conduct business freely and openly in the local market. Because Argentina is currently in a more protectionist phase where it is looking to promote local industry and rely less on imports, it is even more crucial for corporations looking to do work in Argentina to have a local incorporated presence.

One major frustration many business owners who are used to working in foreign countries have relates to corruption. Corruption is well embedded in the Argentine culture, in both small and big ways. Corners sometimes are cut with processes and paperwork. In extreme cases, many people own and operate flourishing business en negro (in black) and not officially on the books. To a scrupulous and careful business owner who follows all of the many steps required to get a business off the ground, this can be maddening.

It is recommended to enlist the help of consultants and companies with on-the-ground expertise when considering incorporating in Argentina. It is a legally complex country with laws regularly changing and being added, especially during an unstable economic time.

Procedures For Starting A Business in Argentina Estimated Completion Time Associated Fees And Costs
The name of the company is verified by the Office of Corporations (Inspección General de Justicia) (IGJ) 1 day ARS 210
Certify signatures of partners by a notary public 1 day Approximately ARS 1,000 to ARS 1,500 (cost of 5 notarized signatures)
Deposit initial capital in National Bank (Banco de la Nación Argentina) and obtain proof of payment 1 day ARS 45 (VAT excluded)
Publish the new company’s notice in the official paper (Boletín Oficial) 2 days on average approximately ARS 2,500 (expedited publication fee) + ARS 100 (legalization of signature)
Payment of the incorporation fee 1 day ARS 100
Registration with the Public Register of Commerce of the City of Buenos Aires 5 days on average (expedited procedure) ARS 3,360 for expedited procedure
Buy special books 1 day fees included in procedure 8
Get a form from the Public Notaries College and have a notary public submit the company books for rubrication by the General Inspection of Justice (IGJ) 5 days (urgent filling) ARS 3,018
Corporate manager needs to obtain a Fiscal Code (Clave Fiscal) 1 day no charge
Obtain a tax identification number (CUIT) from the National Tax Office (Administración Federal de Ingresos Públicos, AFIP) and register for social security 4 days no charge
Register turnover tax at local level at the Administración General de Ingresos Públicos (AGIP) in the City of Buenos Aires Less than one day (online procedure) no charge
Register with the Sistema Unico de Seguridad Social (SUSS) Less than one day (online procedure) no charge
Contract an insurance for employees with a risk labor company (ART, Aseguradora de Riesgos del Trabajo) 1 day no charge
Rubricate books of wages in the Dirección General de Empleo (Ministry of Labor) 1 day ARS 5 per page (an average of 20-25 pages)

Source: doingbusiness.org