A Step-by-step Guideline Set on Company Incorporate in Argentina
Argentina has become a new foreign investor’s destination, and with the creation of the Argentina Simplified Shares Company (S.A.S), there’s an influx of foreign companies. With flexible and friendly Foreign Direct Investment policies, company incorporate in Argentina continues to be on it ascendancy.
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- Incorporation of the company
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The process of company incorporate in Argentina starts with the verification of the company name with the Office of Corporations. Your business name must be unique and relate to the nature of your business activities.
Business Structures in Argentina
Argentina has many business structures that can guarantee you great investment once incorporated. These include the following:
- Private Company Limited by shares (Sociedad Annima (SA)
- Private Company Limited by Guarantee (Sociedad de Responsabilidad Limitada (SRL)
- Partnerships Limited by Guarantee (Sociedad en Comandita Simple (SCS).
- Partnerships Limited by shares (Sociedad en Comandita Por Acciones)
Argentina’s Company Act
The registration process under Argentina’s Company Act stipulates that each company must submit their by-laws, Articles of incorporation and any document connecting to their legal representative. Now each structure has its own preconditions; for instance, the law governing a Branch does not purport the creation of a new legal entity. Despite being registered with the Registry of Companies, it will principally function with the company’s mother country regulations. With that in mind, you must ensure that you verify all the signatures of the partner(s) and the statutory documents with the notary public.
Should you decide to register Private Limited Company by Guarantee (SRL) you must meet the following requirements:
- A minimum of two (2) shareholders with a maximum of fifty (50).
- A minimum of one executive manager who carries out the administration and represents the company.
- No minimum capital required.
The registration of an SRL must be carried out at the Provisional Registry (IGJ).
Opening a Corporate Bank Account
After notarizing your documents and partners’ signatures, company incorporate in Argentina requires that you deposit the initial capital at the National Bank before being issued with a receipt. This means that before you even deposit the capital, you must open a corporate bank account separate from the personal account. Remember that each bank has its own requirements that you need to go through according to your needs.
As part of the registration process, any new company formation must be put on notice at the official Gazette for publication. But in any case, you deem that you cannot follow through with the process, you may seek the services of 3E Accounting Indonesia by calling our service line at your convenient time.
Tax Identification Number
The registration and compliance as a taxpayer is another prerequisite for company incorporate in Argentina. At the National Tax Office, you’ll be issued with Tax Identification Number—a number that you’ll be using to file your monthly and annual returns. Within the same process, you will acquire a Fiscal Code where you’ll even go further to register for turnover tax with the Administration General de Ingresos Publicos (AGIP).
It follows that every company must register with Social Security and ensuring that your employees have an insurance contract at the Risk Labour Society. With your Tax Identification number, you can register with the Unified System for Labour Registration. Besides abiding by the Employment Act, you must ensure that your business has secured a license with the relevant authority within your business jurisdiction.
3E Accounting Indonesia
Every registration process on company incorporate in Argentina entails meeting certain requirements. With the availability of consultant firms like 3E Accounting Indonesia, the process is much easier. You may contact us for assistance.