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10 Steps to Start a Business in Argentina

10 Steps to Start a Business in Argentina

Argentina is one of the largest economies in Latin America with a GDP of US$518.4 billion in 2018. Acknowledging the current complexity of its legal system, the government is working to reduce bureaucratic processes for those wishing to start a business in Argentina. According to the World Bank Group, Argentina’s efforts to streamline its institutional functions through adopting digital processes has reduced wait times for activities such as obtaining import and export licenses. With a growing middle class and highly educated citizens, Argentina is considered one of the important investment destinations in the region for entrepreneurs. Those interested in operating commercially in the country must first understand the legal steps involved to start a business in Argentina. Start a business in Argentina The process to start a business in Argentina will depend on the type of entity or legal structure you choose to use. In general terms, the steps that we will mention below are the most common in the business creation process. However, it should be taken into account that for some entities additional information or procedures will be necessary. 1. Define the legal structure of your company Before starting your business in Argentina, it is necessary to be clear about the type and business plan that you want to carry out. This will help you decide which legal entity in Argentina will give you the right governance structure. The Argentine Companies Law offers for several different types of legal entities for entrepreneurs to start a business with, each with particular...

When Do You Need a Legal Representative in Argentina?

When Do You Need a Legal Representative in Argentina?

In order to incorporate a company and conduct commercial operations in Argentina, every legal entity must appoint a Legal Representative. Argentina is one of Latin America’s largest economies. The country applies complex bureaucratic systems to its commercial environment. However, Argentina’s size, talented workforce, and regional interconnectedness offer great potential returns on investment, countering the initially challenging setup requirements. We explore company formation requirements in Argentina, and why legal representation is essential to this process. Company incorporation: appoint a Legal Representative in Argentina Argentina’s size, talented workforce, and regional interconnectedness offer great potential returns on investment, countering the initially challenging setup requirements. The appointment of a Legal Representative is necessary for two core process of company incorporation: Acting as administrator for the constitution of a company Registering a foreign company that intends to be a shareholder of a local (subsidiary) company in Argentina. In the latter case, the Legal Representative will act as the person who represents the interests and carries out the will of a foreign company in the country, solely in its role as shareholder. Article 123 of the General Companies Law (known in Spanish as the Ley General de Sociedades) outlines that any foreign company that intends to be a shareholder or shareholder of an Argentine company must register in the respective Public Registry of Commerce. To do so, they must designate a Legal Representative in the country...

Opportunities for Tourism Service Companies in Ecuador

Opportunities for Tourism Service Companies in Ecuador

Tourism in Ecuador is rapidly becoming a key pillar of the country's economy. The country’s geographical and cultural diversity makes it a striking destination for holidaymakers from Northern and Southern America. Tourist numbers have grown steadily since 2007, reaching a record high of 2.427 million visitors in 2018. Adventure tourism, eco-sustainable natural tourism, and urban tourism service companies can find success in Ecuador’s booming tourism industry. Hotel services, transport, food and accommodation are all in hot demand in this vibrant country. We explore key opportunities for tourism companies in Ecuador. Why is tourism in Ecuador booming? Ecuador’s territory holds so much biodiversity that it’s one of only 17 countries in the world classified as ‘mega-diverse’. The country houses a vast range of climates and microclimates that support a wide range of landscapes and wildlife. Ecuador’s geography can be divided into four main regions. These regions include: The sierras, consisting of mountains ranges and volcanoes (including some of the highest in the world, such as Cotopaxi and Chimborazo), plains and stops The coast, connecting main waterways and rivers with the vast Pacific Ocean The East, which houses a jungle and tropical forest, and access to the Amazon River the insular region, holding the famous Galapagos Islands. As a result of the country’s climate and myriad options for travellers, its tourism statistics are showing consistent positive growth. It’s now up to businesses to support the increasing demand holidaymakers are placing on this diverse country....

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