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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...

Import and Export in Chile: Understand International Trade Requirements

Import and Export in Chile: Understand International Trade Requirements

The process to import and export in Chile can be straightforward once all the requirements are met and paperwork is handled appropriately.  As one of the most developed countries in Latin America, Chile surges ahead in economic strength and technology adoption. It’s considered by many as the gateway to the region. Businesses looking to import and export from Chile are in the prime position to trade with the rest of the region and Chile’s other key partners. Why import and export in Chile? Chile’s political climate favors free international trade. Import and export activities in Chile benefit from 26 free trade agreements (FTAs) that give the country access to 64 international markets. Chile is the forty-second largest exporting economy in the world. In 2018, Chilean exports totalled US$75.482 million and imports reached US$74.189 million. The categories of the main products exported are minerals, industrial, agricultural and forest exports. The main items exported are copper, salmon, molluscs, crustaceans, canned fruits, fish oil, cellulose, sawn timber, plywood, berries, blueberries and minerals.  Chile’s main trading partners are China, the US, the European Union, Japan, Mercosur, South Korea, the Pacific Alliance and more. In addition, Chile’s trade to GDP ratio is 57.5%, which means that the economy is reliant on international trade. The government therefore works to reduce or eliminate barriers to trade, offering an attractive business environment for companies moving into the region with a desire to do business across borders. The Chilean regulations that govern...

Understand your Options for Hiring Staff in Ecuador

Understand your Options for Hiring Staff in Ecuador

Since the validity of the Constituent Mandate 8 on 6 May 2008, hiring staff in Ecuador has been somewhat complex. The mandate ruled that outsourcing labor hiring intermediation and any form of employment-related activities to which the company or employer in Ecuador is dedicated is prohibited. Additionally, the Constituent Mandate arranged that the labor relationship between employer and employee be direct and bilateral. In this sense, as a foreign company interested in hiring personnel in Ecuador, you should keep in mind that outsourced recruitment and hiring companies, such as Professional Employer Organizations (PEOs) are not authorized to operate in Ecuador. It’s important to understand your employment options in Ecuador to make the most of the local talent to support your business. Two main options for hiring staff in Ecuador In practice, companies are known to accept outsourced hiring services in favor of foreign companies not established in the country. However, outsourcing hiring requirements is an unauthorized activity that could create challenges for your new business in Ecuador. Although outsource hiring processes have been banned since 2008, businesses do have the option of contracting civil services in Ecuador, which can be categorized into two types: hiring specialized technical expertise, and hiring for support service categories, such as cleaning, security, communications, and others. It is important that you know the limitations and conditions that would apply for your hiring options in Ecuador. 1. Hire employees through company incorporation Keep in mind...

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