Relaxes registration requirements for foreign companies
27 Mar 2024
On 27 March 2024, the Government of Argentina adopted General Resolution 10/2024, introducing significant changes to regulations governing foreign companies operating in Argentina. The resolution repeals General Resolution IGJ No. 8/2021 and its Annex A and amends multiple articles of General Resolution IGJ No. 7/2015, including Articles 212, 215, 217, 218, 219, 222, 239, 240, 245, 249, 255, and 256.
Key Changes:
– Removes strict requirements for foreign "vehicle" companies, eliminating the need for an investment plan during registration.
– Simplifies accreditation by allowing firms to prove economic activity through their corporate group identification.
– Eases rules on registering vehicle companies, permitting multiple registrations within the same corporate group and single-shareholder structures.
– Maintains restrictions on offshore companies while tightening oversight of firms from jurisdictions lacking fiscal transparency.
– Extends the option for foreign companies to file simplified annual reports for up to five consecutive years.
– Eliminates the requirement for foreign companies to submit an investment plan under Article 123 of the General Companies Law.
Nature of measure:
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Liberalization
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Facilitation
Type:
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Entry and establishment (Approval and admission - other)
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Promotion and facilitation (Investment facilitation )
Industry:
Inward FDI:
No
Outward FDI:
No
Sources:
