Foreign entrepreneurs like to know the process how to register a company in Argentina and meet legal formalities. With the ever growing popularity of foreign direct investments, people are now looking for countries that are beyond their national borders to invest in. One of the most lucrative countries to invest in is Argentina. It so happens to be one of the best countries to invest in, inside of South America with rate of returns proving to be quite satisfactory for investors. Despite the Argentine government’s effort of making foreign investment difficult back in 2014, the number of FDIs in the country has seen a steady rise. This further establishes the point that doing business in Argentina is good for all the parties involved.
So, if you are somebody who wants to invest in Argentina and start your business then there are certain rules and regulations one has to follow. These steps are listed below.
The most standard form of business in Argentina is Sociedad de Responsibilidad Limitada (SRL). The basic minimum capital needed to start this company is around 2500 ARS which is roughly USD 175.
Step One: The very first step of registering a business in Argentina is to verify the name of the business. As is the rule with most countries, the name should not contain certain words that are prohibited in the country. It should not match the name of an already existing company. The name verification can be done at the Argentinian Office of Corporations. It costs about 210 ARS and needs 1 working day to finish.
Step Two: The second step involves taking the signatures of the partners in the business. These signatures are taken in front of a public notary and can cost around 1000 to 1500 ARS. The work can be easily done within a day.
Step Three: The third step requires the investor to pay the initial investment capital in the National Bank of Argentina. It is a very straight forward task and should not take more than one working day. The proof of payment needs to be recorded for further use. The cost of deposit stands at 45 ARS.
Step Four: The next thing to do in order to register a business in Argentina would be to publish a notice regarding the new business in the official paper. It takes two working days to finish and costs 2600 ARS.
Step Five: Registering with the Public Register of Argentina is step five to start a business in Argentina. The office is located in the capital of Buenos Aires. So if your base of operations is somewhere else, you may have to travel to the capital for this job. Registering with the Public Register of Argentina costs 3360 ARS and it usually takes around 5 working days to get the job done. Keep in mind that this particular step is very important, so you should keep all the necessary documents with you.
Step Six: Pay the incorporation fees which is 100 ARS. This is a very simple process that can be done within half a day.
Step Seven: Buy special books from a commercial bookstore. This is done to keep track of all the business related information. Further explained in step eight.
Step Eight: The eight steps to registering a business in Argentina requires the business to obtain a form from the Public Notaries College. Once the form has been filled out, the company books need to be submitted by the public notary to the General Inspection of Justice. There the books will be inspected and rubricated. The total cost of buying the special books and submitting them for further inspecting will cost 3018 ARS. The whole process can be completed within 6 working days.
Step Nine: Obtain Fiscal Code. This is done with no charges and can be done within one day.
Step Ten: Obtain a tax identification number: The most important thing of any company is to ensure that they have a tax number. That is what one has to do in step ten of business registration in Argentina. A tax identification number can be obtained from the Argentinian National Tax Office (AFIP). The business has to register for their social security number there as well.
Step eleven: Labor insurance. This is a very important part of forming a business in Argentina. The business in question will have to contact a risk labor insurance company and have their labors insured. This is done at the Aseguradora de Riesgos del Trabajo.
Once all these steps are done, the business is officially registered in Argentina and one can start conducting their operations without any sort of legal problems.