30 May Argentine Incorporation Business Company Formation
Argentine Incorporation Business Company Formation
Argentine Companies Law No. 19550 rules companies’ legal structure throughout the Argentine territory and provides the different types of companies that may be incorporated in Argentina. The types of companies most commonly used by foreign investors in Argentina are the “Sociedad Anónima” (SA, Argentine Corporation) and the “Sociedad de Responsabilidad Limitada” (SRL, Argentine Limited Liability Company). However, the aforementioned Companies Law also includes another legal concept named Foreign Company’s Branch. Argentine Incorporation Business Company Formation
Foreign Company’s Branch Office
Argentine Limited Liability Company
Argentine Business Formation Argentine Company Incorporation
Steps for a foreign company in order to incorporate in Argentina:
Documentation, all foreign clients must submit the following:
Color copies of everyone’s passport (scan all the copies, from the first to the very last), driver license and/or a document of national identity-card, both sides of the cards. A minimum of two pieces of identification for each applicant. Criminal background check in a country of residence for a historical of 10 years in time. Two letters of reference from banks where the physical person is an active customer in order to prove good standing with banks. If any shareholder has a high educational degree it helps to have a copy for several reputational purposes (i.e: MBA, Juris Doctor, MD, etc.).
There are three types of tax ID’s in Argentina: CDI, CUIT, or CUIL. A business plan that describes the company’s purpose of incorporating in Argentina. This business plan helps in terms of immigration purposes and for bank account opening. Argentine Incorporation Business Company Formation
If a “foreign mother corporation” will own the corporation, its legal representative should submit the following documents. For example, all the above for its shareholders and directors. Also, bylaws and articles of incorporation; two tax returns for last two consecutive fiscal years; two corporate-banking letters of reference; proof of any license or good standing with local departments of corporations; most current Corporate Credit Report.
Once lawyers obtain all the documents, they will draft and prepare a series of POA and disclosures. Then, they will submit them to the client via email and FedEx. Afterward, the client must sign and return at their earliest opportunity and only by private mail such as FedEx, DHL or UPS. We strongly encourage all clients to never send any documentation or packages through the Public Postal Mail Service, as a high percentage of it never reaches our office.
After reviewing the client’s documents, a CPA submits them to Argentina’s Department of Corporations.
Upon fulfilling all compliance requirements, the corporation can start operating as a business. The waiting period is around 45 to 70 days depending on the corporation object/purpose.
An employment identification number for the Corporation is also the same corporate tax ID for fiscal purposes.
Trademarks and Argentine domain names are necessary with INPI & Nic.AR
If a company requires a specific license, it is possible to process it once it has a tax identification number.
The Argentine Department of Corporations will always require a certain number of directors to be local residents.