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Doing business worldwide

Blog about doing business internationally.

Argentina is regarded as one of the key investment locations in Latin America for business owners due to its expanding middle class and highly educated populace. Argentina, which makes up practically the whole southern half of South America, is a nation of diverse landscapes, ranging from sun-drenched beaches to arctic ice caps, vast mountain ranges, spectacular pampas plains, and subtropical woods. Therefore, it is a suitable location to launch a tourist company. However, you must first comprehend the legal procedures necessary to open a company there if you intend to establish a tourist business there.

Define your company’s legal structure

The argentine companies law provides entrepreneurs with a variety of legal organizations to launch their businesses with, each with unique characteristics. You must decide which one is most appropriate for your company. Simplified joint stock company (sociedad por acciones simplificadas, or sas), public limited company (sociedad anónima, or sa), and limited liability company (sociedad de responsibilidad limitada, or srl) are the three most popular forms of legal organisations in argentina. 

Select and save a name for your business

To make sure you receive the name you want to use for business, it’s a good idea to choose and reserve it. This procedure is overseen by the General Inspection of Justice (IGJ), which is also in charge of confirming the company’s name. You must submit a request to the IGJ by completing an online form and paying the necessary fees.

Create the bylaws or social compact and certify it

The “constitution” of your business, commonly referred to as a social compact, is set up in the bylaws of your organization and describes your corporate goals. This document should be signed by the Company’s shareholders. Additionally, you will need to have a Public Notary certify these signatures. To establish your business, these bylaws must be submitted to the Public Registry of Commerce for registration.

Pay the initial capital into the national bank

A minimum deposit of 25% of the capital pledged to the bank of the Argentine nation is required for new businesses. For this transaction, you must receive payment documentation. Alternatively, you may pay the projected sum in cash to a Notary, who will certify it. Please be aware that after the company’s bylaws have been submitted for registration with the Public Registry of Commerce, this deposit may be withdrawn.

Publicize the founding of your business

The Official Gazette, a national journal, is where you will need to make a public statement about your new company in the nation. This stage may only be completed by a licensed lawyer or another authorized person. 

Pay the incorporation fee

When completing the necessary paperwork to register your company in Argentina, you must pay a charge to cover the expenses of the forms and processing. The ministry of justice and human rights website is used for this procedure. You must download the invoice from this site to pay it at the banco de la nación in Argentina. Presenting the paid invoice to the public registry of commerce follows. 

Register the business books

In Argentina, in addition to other books that include meeting minutes, board minutes, records of acts, share deposits, and attendance at meetings, you must register the accounting books (journal, inventory, and balance). To be finalized, these books must be filed to the Public Registry of Commerce. Most of these certified books are sent straight from the Public Registry of Commerce.

Obtain a unique tax identification number (CUIT) and register with the social security

You must physically appear before the Federal Public Revenue Administration (Administración Federales de Ingresos Pblicos, or AFIP) division at the business’s fiscal address to get the CUIT. You must provide documents showing that the business is registered with the Public Registry of Commerce. After obtaining the CUIT, tax and social security registration may be completed through the AFIP portal by entering the profile of the administrator or manager of the business.

Create a business bank account

Finally, to do business, your company will need a corporate bank account. The required papers may vary significantly from bank to bank. To create your corporate bank account and launch your business in Argentina, you’ll often need to submit identification of your company’s owners and information about your new firm.