Argentina Market Entry Strategy
SETTING UP BUSINESS IN ARGENTINA
HOW TO OBTAIN ARGENTINA VISA?
BUSINESS OPPORTUNITY IN ARGENTINA
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How to set up Business in Argentina?
Over the last few years the Argentinian government has approved some key initiatives to make it an attractive destination to carry out business in. Having the highest income per capita in Latin America, coupled with some of the lowest illiteracy rates, it is an ideal candidate through which to enter the LATAM & MERCOSUR markets. Under Argentine laws and the constitution, foreign investors enjoy the same legal treatment as domestic companies and domestic individuals. Foreign companies may also invest without pre approval or any pre registrations of any sort. As of 2019, the country has been allowed to keep both its emerging markets as well as its frontier emerging markets ratings. A rough guide to setting up a business in Argentina is described below:
Choose the type of entity & appoint a POA
/01
Write and certify bylaws of the company & compile all requisite documents
/02
Deposit initial share capital in National Bank & give a public notification for creation of company
/03
Register the accounting books with Public registry of commerce
/04
Obtain the unique tax identification code & open a corporate bank account
/05
Argentina further affords people a high quality of life with premium healthcare and education with diverse European culture and tradition. Subsequently, the famous business hub of Argentina – Buenos Aires has been growing rapidly over the last few decades which has attracted foreign investors from all over the world to function in a highly competitive yet pleasant business environment. Being a major global player in the production of agricultural commodities and boasting the second largest manufacturing ability in South America, the Argentinian market is a beneficial one to do business in.
Here are a few tips on planning, legal issues, hiring, immigration, and taxes & an overview of Argentina market that would help you to build a expansion strategy for your business.
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Where to set up Business in Argentina?
Buenos Aires which is famous for its tango, steak, and Parisian flair is also a bustling tech hub. It is the birthplace of many of Latin America’s most successful startups, including Argentina’s four unicorns. The introduction of new Entrepreneur’s Law has dramatically simplified the process of creating a business in Argentina. This new legislation, along with the local government’s explicit support of entrepreneurship programs have turned Buenos Aires into an ideal location for launching a startup. Find out other major cities which are suitable to invest in Argentina.
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Top 3 Sectors for Investment in Argentina
Investment opportunities in Argentina are ripe for the picking. The Oil & gas sector has been always a strong industry especially in cities such as Cordoba is booming whereas the tourism industry remains very strong, in Buenos Aires and Patagonia. Further, the agricultural sector provides a solid base for the economy and offers huge business opportunities for foreign investors. Here are the top 3 sectors with promising investment potential:
Consumer Goods and Retail
The argentine consumer goods industry is the second largest in Latin America after Brazil. The economist intelligence unit forecasts that retail sales will rise sharply to USD130 billion in local currency terms.
Financial Services
This industry accounts for 3.8% of GDP in 2015 according to the INDEC. There is room for huge growth given the population is roughly 44 million and high per head incomes and very low level of private sector credit given to people.
Agritech
Argentina is one of the leaders in the world in terms of commmercialisation of soybeans, wheat and meat. Approx 20.3 million hectares are used in the production of soybeans. Buenos Aires, Cordoba and Santa Fe are important destinations for this.
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Argentina offers a large number of investment opportunities in the natural resources and infrastructure sectors as a consequence of lack of investment in the last decade, and has some of the best investment opportunities in Latin-America for this reason. The government of Argentina has introduced a series of measures including tax benefits and new vehicles to make inward investment more attractive. Through the course of this report, it will become evident that Argentina is quite admirable not only in culture and general welfare of people but also business and trade. You can find a detailed report covering different facets and market intelligence related to Argentina here.
Visa and Immigration
Argentina Investment Visa - An investor may be granted to foreign national who intend to invest not less than ARS1,5000,000 (Argentinian pesos) in any lawful business that engages in a productive, commercial or service activity. This visa is renewable upto 3 years, after which one may apply for a permanent residency. After 2 years of being a permanent resident, one becomes applicable to apply for citizenship. One must be able to prove origin and legality of funds and ensure their entry into the country through banking or financial institutions authorized by the Central Bank of the Argentinian Republic. (BCRA)
Argentina Work Visa – In case one wants to set up an office and offer long term employment to Non Argentinian labour, they can avail of the work visa by submitting the relevant documentation such as an employment contract, a certificate of criminal records and copies of diplomas/ certifications.
Argentina Business Visa- One can obtain a business visa for Argentina by providing a letter of invitation along with details of the work trip for verification purposes.
Business Opportunities in Argentina
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