How to Set up Business in Argentina?
A prime market, with one of the largest economies in Latin America, Argentina is home to several natural resource reserves. With the government approving some key initiatives, Argentina is becoming an attractive destination to carry out business.
Under Argentine laws and the constitution, foreign investors enjoy the same legal treatment as domestic companies and domestic individuals. Foreign companies may also invest without pre approval or any pre registrations of any sort. Business in the country is usually carries out in Spanish and documents will need to be translated into Spanish and Engish both.
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Before starting a business in Argentina, it is important to clearly outline the type of entity that is to be established. Also, appoint a power of attorney, write and certify bylaws of the company.
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It is mandatory for a new business to deposit at least 25% of capital subscribed to a bank of Argentinian origin and publish the creation of said company through a national publication called the Official Gazette.
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Payment of incorporation fee must be done through the Ministry of Justice and Human Rights and in order to create a company in Argentina, the accounting book must be registered by submission to the public registry of commerce to be formalised.
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Obtain the Unique Tax IdentifIcation Code by presenting yourself to the Federal Public Revenue Administration and finally, a corporate bank account needs to be opened in order to carry out commercial transactions.
Top 3 Sectors for Investment in Argentina
Argentina's leading industrial sectors are agriculture, renewable energies, healthcare, oil & gas and mining. Based on sectoral knowledge following sectors offer good opportunities for Indian companies.
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Agriculture
Argentina ranks in the top 5 producers of wine and agricultural commodities such as soya and maize in the world. . Having roughly 36 million hectares of arable land, there are several opportunities available in technological innovation.
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Power & Energy
The Energy sector is characterised by extraction and production from renewable and non renewable sources. The new administration is focused on liberalising tariffs and boosting the energy sector.
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Mining
Argentina is a land of opportunity when it comes to mining. It has been one of the fastest growing sectors in the Argentinian economy. More than 75% of mining areas with high potential have not been exploited yet.
Visa & Immigration Rules for Argentina
Argentina offers different types of Visas depending upon the nature of work being undertaken in the country.
There are three main types of Visas that are granted to carry out business in Argentina. The Argentina Investment Visa is granted to a foreign national who intends to invest a certain amount in any lawful business in the country and later can also apply for citizenship. The Argentina Business Visa is granted by providing a letter of invitation. The Argentina Work Visa is granted when one wants to set up an office and offer long-term employment to Non Argentinian labout.
Argentina Investment Visa
The Visa may be granted to a foreign national who intends to invest not ess that ARS 15,000,000 (Argentinian Pesos) in any lawful buiness hat engages in a productive, commercial or service activity. One can aso apply for citizenship later on under this Visa.
