In 2014 Argentina made it slightly more difficult to set up a business by increasing the incorporation costs. Despite of this, Argentina remains as one of the most attractive business landscapes in Latin America for foreign investment and business incorporation. Take advantage of this and register a business in Argentina.
Steps to Register a Business in Argentina
The standard legal form of company in Argentina is the Sociedad de Responsabilidad Limitada (SRL). The minimum paid in capital requirement is 2,500 ARS (US$176) and the start-up capital required is 10 times GNI per capita.
In order to start your business in Argentina you must follow the 14 steps detailed below.
1. Verify company name with the Argentinian Office of Corporations
Time: 1 day
Cost: 210 ARS
2. Certify signatures of partners by public notary
Time: 1 day
Cost: 1000-1500 ARS
3. Deposit initial capital in National Bank of Argentina and obtain proof of payment
Time: 1 day
Cost: 45 ARS
4. Publish the new company notice in the official paper
Time: 2 days
Cost: 2,600 ARS
5. Pay incorporation fee
Time: 1 day
Cost: 100 ARS
6. Register with the Public Register of Commerce of Argentina in Buenos Aires
Time: 5 days
Cost: 3,360 ARS
7. Buy special books from a commercial bookstore
Time: 1 day
Cost: Included in fee for step 8
8. Obtain a form from the Public Notaries College and have a notary public submit the company books for rubricate by the General Inspection of Justice (IGJ)
Time: 5 days
Cost: 3,018 ARS
9. Obtain Fiscal Code
Time: 1 day
Cost: No charge
10. Obtain a tax identification number (CUIT) from the Argentinian National Tax Office (AFIP) and register for social security
Time: 4 days
Cost: no charge
11. Register turnover tax at local level at the AGIP in Buenos Aires
Time: Less than 1 day (online)
Cost: No charge
12. Register with the Sistema Unico De Seguridad Social (SUSS)
Time: Less than 1 day (online)
Cost: No charge
13. Contract an insurance for employees with a risk labor company (Aseguradora de Riesgos del Trabajo, ART)
Time: 1 day
Cost: No charge
14. Rubricate books of wages in the Direccíon General de Empleo (Ministry of Labor)
Time: 1 day
Cost: 5 ARS per page
It is important to engage both legal and financial experts to help you establish your company in Argentina to ensure compliance with the Argentinian business legal framework.
Our professional team at Biz Latin Hub Argentina is able to guide you throughout the entire formation process. We can also assist with visa processes, financial reporting and international trade. Don’t hesitate to leave your comments below or email Craig here.