If you are planning to open a foundation in Argentina, you are recommended to do it with the help of local experts. You are welcome to get in touch with our company formation agents in Argentina to learn more about our services. With their assistance, you will be able to set up a foundation in Buenos Aires without unnecessary delays.
Types of foundations in Argentina
In Argentina, several types of foundations can be established based on their purpose and activities. So, if you are interested to set up a foundation in Argentina, you can find below general information about their types:
- Private Foundation (Fundacion Privada): This is the most common type of foundation in Argentina and is established by private individuals or families. Private foundations are typically created to promote social, cultural, educational, scientific, or charitable activities. They are governed by a board of directors and can receive funds from private donations, investments, and other sources. If you want you open this type of foundation in Buenos Aires, the services of our agents are at your disposal;
- Corporate Foundation (Fundacion Empresarial): The corporate foundation is established by businesses or corporations to support social, cultural, or charitable initiatives aligned with their corporate social responsibility (CSR) objectives. They are governed by a board of directors and are funded with the company’s resources or donations from the company and its employees;
- Public Foundation (Fundacion Pública): Public foundation is incorporated and funded by the government or public entities to support specific social, cultural, or educational initiatives. It is governed by a board of directors and is subject to government regulations and oversight. Our agents can help you open a foundation in Argentina;
- Community Foundation (Fundacion Comunitaria): Community foundation is set up by groups of individuals or organizations to support specific communities or regions. It typically focuses on local needs and initiatives and involves local stakeholders in their governance and decision-making processes;
- Foreign Foundation (Fundaciones Extranjera): Foreign foundation is established by foreign individuals, families, or organizations in Argentina to carry out charitable or philanthropic activities within the country. It is subject to local laws and regulations and must meet specific requirements for its establishment and operation. Get in touch with our agents to learn about the requirements.
If you are interested and planning to set up a foundation in Argentina, get in touch with our company formation specialists. It is important to note that the specific regulations and requirements for each type of foundation in Argentina may vary, and it is recommended to seek legal advice and guidance when establishing and operating a foundation to ensure compliance with local laws and regulations.
How to open a foundation in Argentina?
Opening a foundation in Argentina involves several steps that must be followed according to the local laws and regulations. For instance:
- Define the purpose of the foundation: The first step in opening a foundation in Argentina is to define its purpose. This involves determining the specific social, cultural, or charitable activities that it will undertake;
- Choose the name of the foundation: Its name should be chosen carefully and should not be similar to any existing names of organizations in Argentina;
- Draft the foundation’s bylaws: They should include important details such as: the purpose of the foundation, its governing structure, and the rights and obligations of its members;
- Obtain the approval of the foundation’s bylaws from the Ministry of Justice and Human Rights in Argentina;
- Obtain a tax ID number (CUIT) from the Argentine Federal Administration of Public Revenues (AFIP);
- Register the foundation with the Public Registry of Legal Entities in the city where it will be located. This registration process involves submitting the foundation’s bylaws, a list of its directors, and other required documents;
- Open a bank account where all donations and income will be deposited;
- Comply with annual reporting requirements, including submitting financial statements and other documentation to the relevant authorities.
Please note that the specific requirements and procedures for opening a foundation in Argentina may vary depending on the location and nature of the foundation. It is recommended to consult with our professionals who are familiar with the local laws and regulations to ensure that all requirements are met and that the foundation is established properly. Please contact our company incorporation specialists in Argentina for details. They can offer you detailed guidance on how to open a foundation in Buenos Aires.