Doing Business in Argentina: Incorporation and Company Formation
Since 2005, LIMERES has been assisting companies from all around the world with incorporation and company formation by incorporating their entities in Argentinian jurisdiction in order to be doing business in the Republic of Argentina. In addition, our law firm assists foreign national companies and individuals interested in growing their business models in Argentina by helping them obtain an incorporation deed, an Argentine tax identification number, and one or many bank accounts with the major banks operating in Buenos Aires and at the major cities in Argentina such as Cordoba, Mendoza, Rosario or Santa Fe, just to mention a few cities and provinces. In fact, these three basic requirements are the minimum necessary to be fully operating in compliance with what Argentine agencies require for all companies conducting business in Argentina.
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Doing Business in Argentina
Essentially, so that a business can be operating in compliance with all Argentine agencies and business laws in general they must file for a business deed. This corporate deed will establish who the shareholders are, what their legal address is, their Argentine tax ID numbers, the legal name of the business, the amount of shares subscribed by each shareholder, the amount of funds to capitalize the company, the object of the corporation, the maximum amount of years the corporation will be valid which is 99 years, and the date in which the company was incorporated.
The tax identification number, known as CUIL, stands for –Clave Única de Identificación Laboral-, which is the equivalent to USA’s EIN – Employment Identification Number. Not to be confused with Argentina’s SSN – Social Security Number- which is called CUIT –Clave Única de Identificación Tributaria-. This CUIL is for paying taxes, having employees, and being able to issue invoices, and it’s a basic requirement to open a corporate bank account.
First, the bank account will be utilized to pay salaries, receive payment from any payments made to the company while doing business in Argentina, and will be utilized to receive funds from abroad in U.S. dollars, Euros, or Argentine pesos. For other currencies, special accounts would have to be set up or the currencies will be converted to Argentine pesos upon impacting the account. Furthermore, the banks that LIMERES has relations with in Argentina are the following:
- Banco Santander (Spain)
- ICBC (China)
- HSBC (Switzerland)
- BBVA (France)
- Banco de Galicia (Spain)
- Banco Patagonia (Argentina)
- Banco COMAFI (Argentina)
- Brubank (Argentina)
Banks in Argentina
Below is a list of most banks in Argentina:
Banco de Galicia y Buenos Aires S.A.U.
Banco de La Nacion Argentina
Industrial and Commercial Bank of China
Banco de La Provincia de Buenos Aires
Citibank N.A.
Banco BBVA Argentina S.A.
Banco de La Provincia de Cordoba S.A.
Bank of China Limited Sucursal Buenos Aires
Banco Supervielle S.A.
Banco de La Ciudad de Buenos Aires
Brubank S.A.U.
Banco Patagonia S.A.
Banco Hipotecario S.A.
HSBC Bank Argentina S.A.
Banco de San Juan S.A.
Banco Municipal de Rosario
Open Bank Argentina S.A.
Banco Santander Argentina S.A.
Banco del Chubut S.A.
JPMorgan Chase Bank, National Association
Banco de Santa Cruz S.A.
Banco de La Pampa Sociedad de Economía
BNP Paribas
Banco de Corrientes S.A.
Banco Provincia del Neuquén Sociedad Anónima
Nuevo Banco del Chaco S. A.
Banco Interfinanzas S.A.
Banco Credicoop Cooperativo Limitado
RCI Banque S.A.
Banco de Valores S.A.
Banco Roela S.A.
Credito Regional
Banco Mariva S.A.
Banco Itau Argentina S.A.
FCA Compañia Financiera S.A.
Banco Provincia de Tierra del Fuego
Banco de la Republica Oriental del Uruguay
Wilobank S.A.U.
Banco Saenz S.A.
Banco Meridian S.A.
Reba Compañia Financiera S.A.
Banco Macro S.A.
Banco Comafi Sociedad Anonima
Montemar Compañia Financiera S.A.
Banco de Inversion y Comercio Exterior
Banco Piano S.A.
Naranja Digital Compañía Financiera S.A.
Banco Rioja Sociedad Anonima Unipersonal
Banco del Sol S.A.
Toyota Compañía Financiera de Argentina
Banco Voii S.A.
Banco de Formosa S.A.
PSA Finance Argentina Compañía Financiera
Banco CMF S.A.
Banks in Argentina
Banco de Santiago del Estero S.A.
John Deere Credit Compañía Financiera S.A.
Banco Industrial S.A.
Nuevo Banco de Santa Fe Sociedad Anonima
Banco Cetelem Argentina S.A.
Banco de Servicios Financieros S.A.
BACS Banco de Credito y Securitizacion
Banco de Servicios y Transacciones S.A.
Banco Masventas S.A.
Nuevo Banco de Entre Ríos S.A.
Banco Columbia S.A.
Banco Bica S.A.
Ford Credit Compañia Financiera S.A.
Compañia Financiera Argentina S.A.
Banco Coinag S.A.
Banco de Comercio S.A.
GPAT Compañia Financiera S.A.U.
Banco Sucredito Regional S.A.U.
Banco Dino S.A.
Volkswagen Financial Services Compañia
Iudu Compañía Financiera S.A.M
Mercedes-Benz Compañía Financiera Argentina
Rombo Compañía Financiera S.A.
Banco Julio Sociedad Anonima
In order to obtain a bank account in Argentina contact LIMERES by calling +54911-4162-0021 or WhatsApp. Our email is banks@ limeres.com.