It seems to be an optimal time to set up an import/export company in Argentina after the government’s recent initiatives to encourage foreign investments. These include the removal of foreign exchange restrictions and the establishment of a comparable legal framework for local and international investors to ease imports/imports. Get in touch with our Argentinian experts who can help you open an import/ export company in this country.
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How to set up an import/export company in Argentina?
If you are planning to set up an import/export company in Argentina, you are welcome to consult with our agents. However, you must know that in order for the businesses to be registered in the National Registry of Importers and Exporters, they must first receive approval from the Argentine Tax and Customs Authority (AFIP). Please find below general guidance about the requirements to set up an import/export company in Argentina:
- To import, you must have a license (you need to submit your information through SIMI or Sistema Integral de Monitoreo de Importaciones);
- The unit of origin verifies and confirms the provenance of items through a certificate of origin;
- Argentine customs clearance requires a packing list;
- Obtain an airway bill or a bill of lading (for maritime or for air cargo shipments);
- Commercial invoices must be in Spanish and adhere to the AFIP guidelines (one original and three copies).
Top Argentina’s exports include food, meat, and manufactured goods. Its export trading partners are Brazil, Chile, USA, China, and Spain. Imports in Argentina include food, gasoline, electricity, and capital goods in large quantities. Brazil, the United States, Germany, Italy, and Spain are Argentina’s top import trading partners. If you are planning to set up an import/export company in Argentina, you are welcome to seek the services of our agents. They can help you incorporate a company and also provide you with details about Argentina’s imports and exports benefits.
Import and export requirements in Argentina
The importation of peaches, white glasses for corrective lenses, vehicle components, paper, pulp, and footwear are currently subject to quotas set by the government of Argentina. Before import, a variety of approvals are required for pharmaceuticals, chemical products, insecticides, veterinary products, medical devices, cosmetics, agricultural products, textiles, and defense materials. So, it is crucial to get the assistance of experts in this regard. You can consult with our company formation agents in Argentina. They can offer you information about the stuff you can import and export in Argentina.
Guide about import/export company regulation in Argentina
Argentina requires automatic or manual import licenses, which are managed by the Comprehensive Import Monitoring System (SIMI), which was set up by the Argentine tax agency (AFIP) in December 2015. Electronic submission of comprehensive information about goods being imported into Argentina is required by the SIMI system. After information submission, the application is reviewed by pertinent Argentine government departments using the “Single Window System for Foreign Trade”. For over 85% of Argentina’s tariff schedule, automatic import licensing procedures are applicable. Each import transaction requires a license, which is examined by AFIP. To give importers access to the foreign exchange market, the Central Bank needs AFIP permission.
Argentina has several FTZs (free trade zone) and the three most important ones are General Pico La Pampa, Tierra del Fuego, and La Plata. This entails that companies conducting import/ export businesses within these zones are tax and tariff-free. They fall under the heading of general customs areas. The same rules apply to domestic and foreign businesses. Several important conditions must be met to import and export legally in Argentina. The Argentine Tax and Customs Authority has passed the appropriate legislation, and businesses must abide by it. You can get in touch with our company incorporation consultants in Argentina to learn in detail about the rules and regulations that you are required to observe.
Besides setting up an import/export company in Argentina, it is also important to learn about taxation. Exportable goods and services are exempt from excise taxes and VAT although some merchandise is subject to export duties. For taxes related to importable goods, consult with our experts.
Argentina’s exports in numbers
Please find below Argentina’s export percentages:
- Argentina exports mostly agricultural goods, with dairy products, beef, and associated items, grains, fats, and oils making up 36% of total shipments;
- 7% of the total shipments are chemicals and related products;
- Crude oil and fuels are 5%;
- Motorcars and spare parts constitute 12% of the total shipments.
Please contact our company incorporation agents if you are planning to set up an import/export company in Argentina. The help of experts in this regard can play a significant role because you need licenses to carry out such activities. With the help of local experts, you can get your licenses and start your imports and exports in Argentina.
Furthermore, if you need to incorporate a branch office in Argentina, the services of our company formation specialists are at your disposal. They can also help you with company registration in Argentina.