The procedure for setting up a startup in Argentina is simple, but with the help of our experienced incorporation experts. Moreover, Buenos Aires is one of the best startup hubs in Argentina. If you are planning to initiate a startup in Buenos Aires, you are welcome to get in touch with our company incorporation agents in Argentina. They can assist you throughout the incorporation procedure.
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Steps to open a startup in Argentina
In order to set up an Argentine startup, foreign investors often choose one of four major forms of entities: a private limited liability company, a public liability company, a partnership or a sole proprietorship. Each has advantages and disadvantages of its own and the ideal option will depend on the type and desired structure of your startup. If you want to have a startup in Buenos Aires, you can get assistance from our company formation experts. They can help you start a business in Argentina. Below you can find the steps to initiate a startup in Argentina:
- Legal representation: To oversee the Argentine startup procedure, you must designate a legal representative through a power of attorney (POA), which will grant him/her the authority to act on your behalf, including signing legal documents. You can get the services of our company incorporation experts. They can help you open a company in Argentina;
- Startup name: Once you have confirmed that no other businesses are operating under the name you have selected, you can register your company name with Argentina’s General Inspection of Justice;
- Startup bylaws: Your Argentinian startup’s bylaws are the cornerstones of your business. They outline the goals and organizational structure of your startup in Buenos Aires. Our experts can provide you with more information in this regard;
- Capital: To complete the process of setting up a startup in Argentina, a deposit of 25% of the capital must be made to the Bank of the Argentine Nation. You can get that money back once the company’s bylaws have been legally registered;
- Publication: You must publish information about your company’s founding in the Official Gazette on a national scale. A registered Argentine lawyer must publish this;
- Fee: After completing these procedures, you must pay a fee to submit all of the required paperwork via the Ministry of Justice and Human Rights website to complete the incorporation process. Our company formation agents in Argentina can help you in this matter.
There are also other steps regarding obtaining a unique tax identification code and opening a bank account in Argentina. You are welcome to get in touch with our company incorporation consultants. They can offer you comprehensive guidance regarding a startup in Buenos Aires. Furthermore, if you still have any questions about the steps described above you may address them to our agents without any hesitation. They will answer your concerns accordingly.
Reasons to initiate startups in Argentina
Argentina is now in a more nationalist phase, and it is aiming to boost local industry and rely less on imports, having a local incorporated presence is even more important for companies wishing to initiate startups in Argentina. Many international business owners, however, believe the paperwork and problems associated with establishing startups in Buenos Aires to be worthwhile, owing to the abundance of opportunities and local talent. When contemplating incorporating into Argentina, it is advisable to seek the advice of professionals and firms with local knowledge. It is a legally complicated country, with laws changing and being introduced regularly, especially during a period of economic uncertainty.
Business prospects, international alliances, industrial innovation, and invention bloom when national governments focus their efforts on economic growth and courting foreign direct investment. Naturally, as the veins of Latin America’s economic body swell with opportunity and innovation, more and more companies spring up. Argentina has long been a major economic force in the area. Startups in Argentina are now receiving a lot of attention as well. It offers a solid basis on which to establish startups and enterprises on a national scale. A few firms have already found success in this country.
Argentina has a diverse range of sectors that are both influential and profitable. The industries given below are the country’s largest and the most successful industries, they are still striving for new ideas and improvements.
1. B2B services in Argentina
The Entrepreneurship Law was approved by Argentina’s government in 2017, to reduce the bureaucracy of the startup process and provide incentives to investors who want to assist these firms and thereby the Argentinian economy. The Argentinian government is now focused on opportunities in software development, artificial intelligence, FinTech, and telecom. Any company in Argentina pursuing the B2B services business should be successful if they have the necessary experience, resources, and inventiveness. Argentina’s B2-B services business has a strong international reputation. The services industry in Argentina is tremendously successful, accounting for over 60% of the national GDP. If you are interested to pursue startups in Argentina related to B2B services, you can interact with our company formation experts. They can also provide you with detailed assistance if you want to open a branch in this country.
2. Mining in Argentina
Argentina also has unrivaled access to natural resources. Mining contributes a significant portion of the country’s GDP due to its easy availability. Coal, copper, lead, magnesium, silver, lithium, gold, and other important metals are among the natural resources recovered in Argentina. Argentina’s mining and natural resources industry offers several startup chances. Given that just around 15% of Argentina’s resources have been explored, there is significant potential in the near future. When establishing a commercial agreement, startups in Argentina might take advantage of international attention. The startup has the potential to become an industry leader if it uses a novel, original, and inventive approach and/or technology. If you are interested in opening a sole trader in Argentina, you are welcome to interact with our experts.
3. Agriculture in Argentina
Agriculture accounts for nearly 9% of the country’s GDP. However, Argentina’s cattle-related items are in great demand as well. In the worldwide market, beef, leather, and dairy goods are in great demand, and demand for these items from Argentina is particularly high. Argentina’s agricultural economy, in general, is fertile with possibilities throughout a wide range of plains. There appear to be an infinite number of possibilities and areas within the industry on which to concentrate one’s commercial efforts. Furthermore, as foreign interest in Argentina’s agricultural entrepreneurs grows, the government is focused on the sector as well. So, this is a good time to initiate startups in Argentina related to agriculture. Our company formation experts will help you to set up a company in Argentina. Furthermore, if you need any expert assistance regarding choosing a startup in Argentina, you are welcome to ask any questions.
Things you need to know about Argentinian startups
For the majority of the past ten years, Argentina’s economy has seen one of the region’s fastest growth rates. Compared to many other democracies, Argentina’s government is more directly involved in the economy, yet this interference is more of an inconvenience than a barrier to business. Here is some information you should be aware of if you are considering moving your company’s activities abroad and have been considering Argentina as a possible location:
- Construction permits: Not all firms may need to commission local construction, but if you do, you should be aware of Argentinian building regulations. You should be aware that the hardest part of starting a business in Argentina is by far getting construction permissions. Even if everything goes perfectly, it will take 150 days to just get the construction licenses you need and the legally mandated Environmental Impact Assessment;
- Credit: Even if your company is doing well, you could still need to get loans to partially or fully finance an expansion. Argentina is ranked 67th in the world by the World Bank in terms of how simple it is to obtain credit. Although that may not sound ideal, Argentina has a decent ranking and one of the most efficient loan application procedures;
- Regulation time: In Argentina, it takes a little longer than the OECD average to establish a firm. However, the process in Argentina is neither unusually quick or slow in comparison to the economies of Latin America’s surroundings. The average time to register and launch a firm is 26 days, which is longer than in most OECD countries and therefore more expensive.
If you need more knowledge before initiating a startup in Buenos Aires, you can get help from our incorporation agents. Our company incorporation consultants in Argentina can guide you well in this regard. In addition to this information, our agents can also guide you if you are planning to incorporate a branch office in Argentina. To take advantage of commercial prospects in Argentina, you may create a branch with the assistance of our team of specialists in company formation. Our representatives may serve as your only point of contact for the registration and administration of any form of legal company in Argentina by providing the entire range of accounting, hiring, legal, and tax advising services. So, the services of our agents are at your disposal to start a company in Argentina.
Foreign direct investment in Argentina (2020)
Please find below the details of foreign direct investment in Argentina for the year 2020:
- The total number of greenfield investments was 63;
- The value of greenfield investment was 4.489 million USD;
- FDI inward flow was 4.123 million USD;
- FDI stock was 85.451 million USD.
Contact our company incorporation consultants if you want to establish startups in Argentina. In addition to this, if you are planning to open a subsidiary, you can interact with our agents. We can also help you if you want to open a company in other country, such as Vietnam or Seychelles, through our local partners.