INVESTOR  GUIDE

Invest in Argentina

This document was elaborated by the Investment Promotion Agency of Argentina in September of

2005 in order to provide investors an overview of the most important aspects of Argentina’s legal

framework. Although the information contained is general, it provides answer to most investors

questions regarding local legal framework, with a summary of the main issues related to foreign

investment.

Some of the chapters mentioned, include practical guidelines regarding procedural aspects of

legislation for investors planning to establish operations in Argentina. The reader interested in detailed

or more specific information should refer to legislation and/or consult a law firm.

The Investment Pomotion Agency of Argentina do not assume legal responsibility for the contents of

this publication. Reproduction in whole or in part is authorized, with appropriate acknowledgment of

the source. For further information, consult our website: www.inversiones.gov.ar

 

How to Invest in Argentina?

 

1. General Information

Argentina Republic: A brief profile, Geographical location, Population,

Infrastructure, Government, etc.

 

2. The Argentine Economy

Natural Resources, Fishing,Oil and Gas, Forestry, etc.

 

3. Legal Framework

Foreign Investment Law, International Agreements, Transfer of Foreign

currencies, Taxation Structure, Labor Legislation, Migratory Regulations,

Companies Organization.

 

4. Procedures and Requirements

Investment Registry, Transfer of Foreign Currencies, Argentinean Residence,

Commercial Societies, Manpower Recruiting, Operations of External Trade.

 

5. Investment Incentives

Regional and Sectorial Promotion and General Investment Incentives.

 

6. Useful Addresses

Government Agencies and Entities, Business organizations, etc.

 

ADI: About us

Av. Julio A. Roca 651 –5° Floor 22 Office

(C1067AAB) Ciudad de Buenos Aires

Tel. (54-11) 4349-3442/ 3313/ 3315

Fax (54-11) 4349-3453

E-mail: adi@mecon.gov.ar

www.inversiones.gov.ar

Note: the exchange rate used in this document is (US $1 = $2,85) being the rate ruling as of August 2005

 

The name of Argentina

The Argentina word comes from Latin word

argentum which means silver (plata in spanish).

The origin of this denomination goes back to the

trips from the first Spanish conquerors to the

Río de la Plata, originally call River of Solís. The

Portuguese named it River da Prata because of

the rumors that postulated the existence of

precious metals.

Since 1860, the official denomination of the

country has been República Argentina.

 

1 General Information

ARGENTINA REPUBLIC: A BRIEF PROFILE

Country name: Argentine Republic (conventional long form).

Capital: Ciudad de Buenos Aires

Government type: Republic

Executive branch: President Nestor KIRCHNER (since 25 May 2003). The president is

both the chief of state and head of government. President and vice president are

elected by popular vote for four-year terms. The cabinet is appointed by the

president.

Legislative branch: Bicameral National Congress consists of the Senate (72 seats;

members are elected by direct vote) and the Chamber of Deputies (257 seats;

members are elected by direct vote).

Judicial branch: Supreme Court or Corte Suprema (the nine Supreme Court judges

are appointed by the president with approval by the Senate.

Official Language: Spanish.

Official Currency: Argentinean Peso ($).There are bills of 2, 5, 10, 20, 50 and 100

pesos; and coins of 1, 2 and 5 pesos and of 1, 5, 10, 25 and 50 cents.

Exchange Rate: US$ 1 = $ 2,85

Official Hour: GMT -3 hours (normal/summer).

Religion: The Constitution guarantees the freedom of

religious practice although the official religion is the

Roman Catholic Apostolic.

Other cults are practiced such as the Protestantism, Judaism, Islamism, Greek

Orthodox religion, the Russian Orthodox one and others.

Native symbols: The flag is composed of three equal horizontal bands of light blue

(top), white, and light blue; centered in the white band is a radiant

yellow sun with a human face known as the Sun of May.

 

LOCATION, GEOGRAPHY AND CLIMATE

Argentina is located in the south end of the American continent, limiting to the west

with Chile, to the north with Bolivia and Paraguay, to the east with Uruguay, Brazil

and the Atlantic Ocean; while to the south it is the Beagle Channel the one that

marks its limits.

The country claims a total surface area of 3,8 million square kilometers (1,5 sq. mi.)1

of extension; of which, 2,8 millions correspond to the continent and the rest consist

of a sector of Antarctica and three groups of islands in the South Atlantic. From

North to South it is 3,700 kilometers (km) long, whereas from East to West the

maximum extension is of 1,425 km.

In terms of surface area, Argentina is the eighth largest country in the world. Its

relevance is even greater if factors relating to the potential its surface area offers

are considered.

Just over half of continental Argentina consist of grasslands. About a quarter is

classified as forested. Nearly 9 percent is considered arable, but less than half of

that is under permanent cultivation. The rest represent urban development,

undeveloped land, bare rock, and inland waters.

With regard to the Argentinean hydrographic system, the Cuenca del Plata is the

more important hydrographic basin, contributing 85 percent of the hydrography flow

of the country. In the rivers that integrate it, it is possible the fluvial sailing; their

waters are also used for the population's consumption and the energy generation

through hydroelectric centrals.

1 In the total surface of the country it is not included the argentinean oceanic fringe of 200

marine miles corresponding to the Atlantic Ocean, neither the waters of the Río de la Plata.

 

Argentina’s climate ranges from subtropical in the northeast to temperate in the

central region, to cold in the south and along the mountains. Each of these main

three climatic zones covers approximately one-third of the county’s area.

(1) It includes the provinces of Buenos Aires, Catamarca, Córdoba, Corrientes, Chaco, Chubut, Entre

Ríos, Formosa, Jujuy, La Pampa, La Rioja, Mendoza, Misiones, Neuquén, Río Negro, Salta, San Juan, San

Luis, Santa Cruz, Santa Fe, Santiago del Estero, Tucumán and the departments of Río Grande and

Ushuaia of the province of Tierra del Fuego.

(2) Three groups of islands in the South Atlantic.

(3) It corresponds to the department of the same name of the province of Tierra del Fuego. It includes the

Shetland del Sur Islands.

 

 

GOVERNMENT (GOVERNMENTAL INSTITUTIONAL STRUCTURE)

Since 1853, Argentina has adopted a representative, federal republic government's

form. There is a division of powers between the Federal Government and the

Provincial Governments. The National Constitution states that the Provinces delegate

to the Federal Government certain responsibilities, such as macroeconomic

instruments and foreign affairs.

The organization system recognizes three branches: executive, legislative and

judicial.

Executive branch: The president is both the chief of state and head of government.

President and vice president are elected by popular vote for four-year terms and is

eligible to run for a second consecutive term of office. The cabinet is appointed by

the president.

Legislative branch: Bicameral National Congress consists of the Senate (72 seats;

members are elected by direct vote) and the Chamber of Deputies (257 seats;

members are elected by direct vote).

Judicial branch: The constitution establishes a separate and independent judiciary.

Supreme Court or Corte Suprema formed by nine judges all of which are appointed

by the president with Senate approval. Judges below the level of the Supreme

Court are to be identified for Presidential nomination by a Judicial Council, which

also has the power of removal for cause.

The provinces and the City of Buenos Aires enjoy autonomy and they choose their

own authorities, also recognizing the three branches mentioned above. The

Provincial Government is responsible for the so-called “Social Expenditure”

(education, health, justice, security) as well as urban infrastructure and support for

production sectors: roads, canals ports, etc.

In turn, the city councils are in charge of local affairs: collection of waste, road

maintenance, etc.

Taxation is shared by the Federal and Provincial Governments, which retain, as their

original undelegated power, the right to determine the taxes to be levied. The city

councils, in turn, collect fixture rates for the provision of public services.

 

POPULATION, EDUCATION AND HEALTH

Population: Argentines are a fusion of diverse national and ethnic groups, with

descendants of Italian and Spanish immigrants predominant. Waves of immigrants

from many European countries arrived in the late 19th and early 20th centuries.

The current population of Argentina is 38,226,051 inhabitants, having registered a

positive variation of 11,2 percent in the last ten years.

The rates correspond to the annual average of every period. Rate of Total Growth: is the add of the

natural growth rate and the migratory growth rate, corresponding to a certain period.

 

Characteristic of the Population in Argentina

Argentina is comprised of 23 Provinces and one autonomous district (Ciudad de

Buenos Aires) which are autonomous states with political, administrative and

economic powers.

Population's density varies substantially between provinces, from 13,680 people per

sq km (35,348 people per sq mile) in Ciudad de Buenos Aires to 0,8 people per sq km

(2,1 people per sq mile) in Santa Cruz. The national average is 9,7 inhabitants per

sq km (25,1 inhabitants per sq mile).

 

The major cities of Argentina are Ciudad Autónoma de Buenos Aires, Córdoba (capital

of Córdoba province), Rosario (province of Santa Fe), Mendoza (capital of Mendoza

province) and La Plata (capital of Buenos Aires province).

 

Education

Argentina, which boasts a

literacy rate of 97.4 percent, has

long prided itself on its

educational system. Illiteracy in

the City of Buenos Aires, with a

population similar to Uruguay, is

0.5 percent and 1.3 percent in the metropolitan region, with a population similar to

that of Chile. It means that Argentina has the most populated urban area with the

lowest illiteracy rate of Latin America. The illiteracy rate in Argentina is the lowest

in Latin America and it is comparable to that of developed countries.

Education is compulsory and free for the 5-14 year age group. Attendance

expectancy at educational establishments is the highest in Latin

America. Argentina boasts a broad network of public and private

universities attended by over one million and half students. The university

student/ total population ratio is the highest in Latin America and compares

with the ratio for several developed countries.

A comprehensive education and training system has ensured that Argentina maintains the leading-edge skills required for international competitiveness. In 2002, 15.8 percent of people aged 25-60 years had a Bachelor degree or above as their highest level of educational attainment.

Health. Argentina shows one of the highest Life Expectancy rates of Latin America:

74,3 year-old average2. Also, the Mortality Rate of Infants is one of the lowest of the

region.

 

 

The Argentinean population also stands out in the region in what concerns to the

hospital resources, showing one of the highest rates of physicians and hospital beds

per people, as well as the births attended by health staff. In Argentina, 98 percent of

the births are attended by health staff; while in some countries of Latin America and

Caribbean, this proportion is located below 60 percent.

 

 

 

2 The Argentine Economy

 

 

 

NATURAL RESOURCES

Argentina is characterized by the abundance and quality of its natural resources that

provide competitive advantages in developing activities linked to these resources.

Arable Surface. The Argentine territory has almost 250,000 square kilometers

(96,500 sq. miles) of arable land. This abundance of land along with its excellent

agroecological conditions enables Argentina to be:

è The world’s leading producer and exporter of sunflower oil

è The world’s leading exporter and third largest producer of soybean oil

è The world’s leading exporter and second largest producer of honey

è The world’s leading exporter of horse meat

è The world’s second largest exporter of corn

è The world’s third largest producer of soybeans

è The world’s third largest producer and world’s leading exporter of lemons

è The world’s five largest producer of beef

è The world’s sixth largest producer of wine…

(Source: FAO, 2004).

 

FISHING

As a result of the considerable length of the Atlantic coast (4,725 kilometers / 2,959

miles) and the great variety of species found in the fishing zone make Argentina one

of the best fishing areas worldwide. The total capture volume goes beyond 1 million

tons and about 80 percent of it is exported.

FORESTRY

The main factors determining competitive advantages in this activity (soil types,

climate, costs, human resources, etc.) are present in vast regions of Argentina. Of

the 20 million hectares suitable for forestry, only 5 percent are currently used for

this purpose. Land suitable for forestry does not compete with other agricultural

activities.

The diversity of climates and soil types makes it possible to cultivate a wide variety

of species. In addition to tree growth rates, the relatively low land value compared

to countries such as Brazil and Chile yields high rates of return and exceptional

payback periods. High growth rates: 41 m3 / hectare/ year (Chile 35 m3) for

eucalyptus and up to 32 m3 / hectare/ year for pine (three times the growth rate in

Canada and twice that of the United States).

OIL AND GAS

Argentina has a very gas-intensive economy, natural gas accounted for half of total

primary energy supply. Gas production has increased constantly since the early 90s,

doubling early 90s levels in 2004. Argentina is the second largest producer in the

Region. Although oil production has fallen in recent years, levels are still 50 percent

above the levels recorded 13 years ago. At the same time, should be pointed out that

Argentina is still one of the major producers in the region.

MINING

Argentina is the sixth largest country in the world in terms of mining resources and

occupies second place in the ranking of investment opportunities. The estimated

surface area with mining potential totals approximately 750,000 sq km 75 percent of

which has still to be exploited. Argentina has considerable gold, copper, lead, zinc,

natural borate, bentonite, clay, and ornamental stone deposits. The effective tax

rate is 41 percent, 6 points below the average for the principal Latin American

mining nations and almost 20 points lower than that of the major Canadian and

Australian mining regions. The regulatory framework and current mining incentive

regime play a key role in attracting investment to this sector.

INFRASTRUCTURE

Argentina has an important infrastructure network in the areas of air navigation,

railways, roads, port facilities, electricity and telecommunications. Some of these

areas have been utterly deregulated, and most of them are managed by private

companies. Appropriate infrastructure provides a platform to boost production sector

competitiveness and ensure territorial and social integration.

TELECOMMUNICATIONS

Argentina began developing telecommunications 123 ago, only 4 years following the

launch of the Bell Telephone Company.

Over the last 10 years, investments totaling more than 20 billion dollars have

increased the number of telephone lines in service by 74 percent, total digitalization

of the network has been achieved, and the mobile telephone service has grown from

less than half a million to 8 million phones in service.

ROADS

The National Road Network spans 38,632 km (24,100 miles), 81 percent of which are

paved. A further 180,000 km (112,320 miles) of roads are under provincial and

280,000 km (174,720 miles) under municipal jurisdiction. Along these roads, 85

percent of passengers and 87 percent of merchandise are transported.

RAILWAYS

The Argentine railway network is one of the most extensive worldwide, covering a

distance of 35,753 km (22,310 miles). The Federal Government has decided to

promote regional integration though the railway system and consequently decreed

the reopening of branch lines such as the Central Trans-Andean Railway via tender

and the rehabilitation and transformation of the Belgrano Cargas freight line.

PORTS

Argentina has 38 maritime ports along the Atlantic coastline and 25 river ports, most

of foreign trade transactions passed out through these ports. Recognized

international maritime cargo operators operate out of Argentina. The Port of Buenos

Aires is the main container port in Latin America and the Caribbean. Argentina’s

main port has achieved considerable progress in recent years in terms of operability.

AIRPORTS

The National Airport System comprises 52 airports 24 of which are international.

Thirty-three airports are consigned to private operators. Ezeiza Intern. Airport

is Argentina's main gateway, located some 20 miles south of B.A. and Aeroparque in

B.A. downtown is the most important domestic airport.

Future investment in this sector is expected to escalate to US$ 2,228 million. As a

consequence, an increase in passenger volume is expected from the current level of

11 million passengers, to 23 million in 2010 and 34 million in 2025.

Recently, it was inaugurated at the International Airport of Ezeiza the most

important Air Cargo Terminal of South America and one of the most modern air cargo

centers in Latin America. The new facilities allow an increase of 83 percent in the

capacity to process cargo exports and 66 percent of increase in the imports.

ELECTRICITY

The electricity generation capacity reaches 21,300 MW. The annual production is

75,554 GWh, or 2,042 kWh per inhabitant. The deregulation of this sector allowed

the entrance of new competitors that led to a drop in rates, placing such rates

among the lowest in the world.

 

The Tango

Undoubtedly the tango occupies a privilege

place in the representativeness of the

Argentinean culture. Although, basically, it

recognizes as long as a dance and a

singable music; the tango also contains a

particular language -the lunfardo -, uses and

determined customs, and until a

characteristic philosophy that identifies

tango people.

 

Tourist Attractiveness

The fundamental characteristic of the

Argentinean territory is the enormous contrast

that it offers: from the highlands of the

northwest, to the region of the lakes, forests

and glaciers of Andes patagónicos. In the

center, the extensive plain is interrupted with

the mountains. Toward the south, from the

Andes to the sea, the patagonic plateaus gives

place to the large colonies of marine animals.

 

3 Legal Framework

 

FOREIGN INVESTMENT LAW

The rules covering foreign investment are contained in the Foreign Investment Law

N° 21382 which enacted in 1993 by Executive Order 1853/93, established the legal

framework for foreign investment. The last amendment repealed all provisions of the

law requiring prior approval for the investment of foreign capital in Argentina.

Foreign investors have the same rights and obligations that the Argentine

Constitution and local legal provisions give to national investors involved in economic

activities within the country. Private ownership and other rights acquired may not be

disavowed or breached by subsequent laws except for public utility or social interest

reasons. In any case, expropriation for public utility or for social interest reasons is

guaranteed to be conducted through a proper process and with adequate

indemnification.

Dividends and profits can be remitted abroad without the central bank’s prior

authorisation. Dividends may be paid out of current profits plus retained earnings if

any current or accrued losses are covered.

Foreign companies can adopt any legal organization allowed by the Argentine

business law. Foreign investors have the same access to incentive programs as local

investors do.

Local companies of foreign capital will be able to make use of the internal credit

with the same rights and under the same conditions that local companies of national

capital.

 

INTERNATIONAL AGREEMENTS

With the purpose of improving the foreign investment legal framework, the national

government has signed numerous treaties for the promotion and reciprocal

protection of investments.

Bilateral Investment Treaties

Argentina has signed an important number of bilateral agreements in order to protect

investment between signatory countries.

 

These treaties establish that investment made by investors of either contracting

party shall at all items be accorded fair and equitable treatment in the territory of

the other contracting party. Neither contracting party shall in its territory subject

investment of the other contracting party to treatment less favorable than that

which it accords to investment of its own investors or investors of any third State.

These treaties also foresee free transfer abroad of the liquid assets belonging to the

investors of the signing countries, specially dividends and other current profits, loans

and capital repatriations.

In the Mercosur, two agreements were signed to promote third country investment

and to ensure fair and national treatment for investment carried out in Mercosur:

The Protocol of Colonia in 1993 and the Protocol on Promotion of Investment from

non-member States in 1994.

Agreements to Avoid Double Taxation

Argentina has signed agreements to avoid double taxation and to prevent fiscal

evasion with respect to taxes on income and capital gains. This kind of agreements

has been concluded between Argentina and 15 countries. As a consequence of these

treaties the effective income tax on dividends, royalties and interest are given

below.

In the same way, has signed agreements to avoid double taxation on international

transport with 21 countries, 17 of these agreements already went into force.

Investment Insurance Programs

Argentina is a member, among others, of the Multilateral Investment Guarantee

Agency (MIGA), the Overseas Private Investment Committee (OPIC), and the

International Center for Settlement of Investment Disputes (ICSID).

The OPIC’s purpose is to develop U.S.A. investments in developing countries. For

such purpose, it finances and insures the investment projects to be contracted with

any Colombian State agency against risks such as foreign currency inconvertibility,

expropriation and political violence.

The MIGA is a World Bank agency, devoted to guaranteeing foreign investment

against non-commercial risks such as foreign currency inconvertibility, discriminatory

expropriation and similar measures, contractual default and war and civil riots.

The ICSID cover disputes between states and nationals of other states.

BUSINESS ENTITIES FORMATION (LEGAL STRUCTURE OF COMPANIES)

The Business Associations Law (N° 19550) foresees several types of forms of business

organizations. However, the common practice is that foreign investors channel their

investments through three kind of legal entities: the corporation, the limited liability

company and the branch of a foreign company.

Corporations (Sociedades Anónimas “S.A.”)

The corporation (“Publicly Held Corporation” - “Sociedad Anónima”) is the most

commonly used legal entity in Argentina for the development of all kinds of activities

and businesses.

Corporations have the following main characteristics:

§ Capital is represented by equity shares.

§ Corporations must have at least two shareholders. They can be foreign companies

or individuals of any nationality or residence. Shares may be privately held or

quoted publicly. This type of company is the only one that can go public.

§ The liability of shareholders is limited to their paid-in capital.

§ The Board of Directors3 is responsible for the administration of the company.

Directors are designated by the shareholders annual meeting. They are personally

responsible for their actions. Board of directors: is in charge of the management

of the corporation. There is no requirement of a minimum number of members,

as a consequence of which the board can be comprised of only one director,

except for certain corporations (i.e. those which capital exceeds certain amount,

are publicly held or public utilities) in which the board must be comprised of at

least three members. There are no nationality requirements, nor it is required

that directors be also shareholders. The only requisite is that the absolute

majority of directors reside in Argentina.

§ Corporations are subject to supervision and control by the following government

organizations:

3 One or more persons designated annually by the shareholder’s meeting.

§ Publicly Held quoted corporations are controlled by the “Comisión

Nacional de Valores”, equivalent to the Securities Exchange Commission

(SEC) in the United States.

§ Banks are supervised by the Argentine Central Bank.

§ Privately held corporations are controlled by the “Inspección General de

Justicia” (Justice General Inspection).

§ The basic characteristics of the Corporation must be established in the

constitution when presented for approval before the “Inspección General de

Justicia” (the government agency that regulates Corporations). The articles of its

incorporation must include: Identification of all shareholders. The corporation’s

name and domicile. Indication of the corporation’s specific purpose. The amount

of the corporation’s capital, and each shareholder’s capital contribution. The

organization of management and inhouse auditing committees, and rules for

shareholder meetings. Rules for distributions of profits and losses. Provisions

establishing shareholder rights and obligations to each other and third parties.

Such other provisions, such as those governing operation, dissolution, and

liquidation, as are desired.

The Limited Liability Partnership (Sociedad de Responsabilidad Limitada

“S.R.L.”)

To form a Limited Liability Partnership (L.L.P.), an investor need to prepare and

execute (either in private or before a notary public) a deed of incorporation. This

deed contains the partnership contract among quotaholders, typically including

provisions governing capitalization, exercise of management responsibility, changes

in membership, in-house audit requirements, and liquidation procedures.

Generally, the formation and administration of a LLP is relatively simple. However,

its effective continuity depends on the relations existing among its members, since

majority and, in some cases, unanimous consent is required for introducing changes.

Compared to a Corporation, the time needed to constitute a L.L.P. is shorter and, if

the capital is below $2,100,000, there is much less government supervision or

regulation. Corporations can not be partners of a L.L.P. Its principal characteristics

are:

§ There must be a minimum of two partners and a maximum of fifty. They can also

be foreign companies or individuals and no nationality or residency requirements

apply.

§ Capital is divided into quotas, and the liability of the partners is limited to

the payment of the quotas subscribed.

§ Management of the SRL is in charge of one or more managers, acting individually

or jointly as set forth in the articles of incorporation. As in the case of the

directors of the corporation, a manager is not subject to any nationality

requirement, but the absolute majority of all managers appointed must reside in

Argentina. Managers do not need to be partners.

Branches of Foreign Corporations

Every overseas company wishing to conduct regular business in Argenitna shall establish

a permanent branch, agency of permanent representation and register it before

the Public Registry of Commerce of the jurisdiction where they are domiciled. The

registration includes:

§ Prove the existence of the parent company abroad, register the parent’

company’s constitution or partnership contract with the Public Register of

Commerce, appoint representatives and register them likewise.

§ Have an address in Argentina.

§ Fulfill the same publication and registration requirements as in the case of

Argentine companies, since Corporations Branches are subject to permanent

control by the society control entity (Inspección General de Justicia).

§ Appoint a representative or manager.

In addition, to the prove of the existence of a parent company abroad, the new

regulations set forth the following requirements to perform these registrations:

a) Information on whether the foreign company is subject to legal prohibitions or

restrictions to carry out, in their countries of origin, all of their activities or the

most important of them.

b) The comply with at least one of the following conditions outside the Argentine

Republic: (i) Existence of one or more permanent branch offices, agencies of

representations outside Argentina. (ii) Existence of participations in other

companies consisting in non-current assets according to the definitions resulting

from the rules or generally accepted accounting principles. (iii) Ownership of

fixed assets in their places of origin.

If a branch is chosen as the form of settlement in the country, it must have a certain

amount of capital assigned, although no maximum or minimum limitations are set in

this regard.

The accounts have to be kept separately from those of the headquarters and the

bank statements must be filed at the control entity (Inspección General de Justicia)

within 60 business days of its fiscal year-end.

LABOR LEGISLATION

Basic relations between the employer and individual employees are governed by a

general Labor Contract Law, complemented by additional laws and statutes related

to specific activities, regulates employment conditions throughout the country and

collective bargaining agreements. In order to employee people, companies have to

register as an employer fulfilling the following precedures:

§ Register with the Unified System for Labor Registration ("USLR"). Employers must

make social security withholdings and pay contributions to the USLR calculated on

the salaries paid to employees under relationship of subordination. The USLR

manages: (i) the retirement pension fund, (ii) the family allowances fund, (iii) the

social security fund, and (iv) the unemployment fund.

§ Contract an insurance for employees with a Risk Labor Company (ART,

Aseguradora de Riesgos del Trabajo).

§ Register with the private pension fund, widely known as AFJPs (“Administradoras

de Fondos de Jubilaciones y Pensiones”). There are about 13 AFJP’s in Argentina.

Employees inform their employers the AFJP they choose so that the employers

are able to deposit the installment of the worker’s pension.

§ Rubricate books of wages in the Ministry of Labor (Ministerio de Trabajo).

SOME REMARKS ABOUT LABOR LEGISLATION

Length of work contract: Work contracts are assumed to be of indeterminable

length unless otherwise allowed by special legislation. The law specifies a probation

period of three months that can be extended up to six months through a duly

authorized collective bargaining contract. For small and medium companies the

probation period is six months which can be extended to twelve months through

collective bargaining. During this period either party may stop the labor relation

without cause or need to give notice.

Basic Remuneration and Mandated Annual Bonus: The Federal Council of Labor,

Productivity and Minimum Wage establishes a minimum monthly and hourly wage.

Since July 2005 a minimum wage of AR$ 630 (US$ 217) per month and AR$3,15 (US$

1,08) per hour have been set by Law. The employer and the employee are free to

agree on a wage, provided it is no less than the minimum wage or the one

established in collective bargaining agreements or decisions reached through

arbitration. Monthly gross salaries for the first quarter 2005 averaged US$ 441,

salaries among the different economic activities vary widely, with a maximum of US$

1.289 in the mining sector, and a minimum of US$ 266 in the agricultural sector.

All regular workers receive a mandated annual bonus (aguinaldo) equal to one

month's salary, based on the average monthly amount paid to the worker during the

last period. Its payment is effected in two parts; the first one is paid at the end of

June and the second one at the end of December.

Working hours and overtime: Employees are entitled to a workweek of forty-eight

hours at most. Twelve hours must elapse between consecutive working days. Night

work is limited to a seven-hour shift. The time that is worked beyond the regular

workday shall be regarded as overtime and paid with a surcharge, equivalent to a 50

percent surcharge on the normal wage. When overtime is worked on a Saturday after

1 PM or Sundays or holidays the surcharge is 100 percent. At present, special

agreements between employee and employer are usual. These arrangements could

modify the basic working day in order to be suitable with the needs of the industry.

Dismissal indemnities: Employees may only be dismissed, without liability for the

employer, for a number of limited justifiable causes (committed an act of gross

misconduct or a criminal offense for example). In cases of unjustified dismissal

employees are automatically entitled to severance indemnities equal to one month’s

salary for each year of service. In case of termination for any reason whatsoever, the

employee will be entitled to collect the mandated annual bonus and vacation

accrued in the time concerned up to the date of firing the worker.

Vacations: After half year of employment all employees are entitled to a minimum

period of paid vacations. Paid vacation ranges from 14 to 35 calendar days,

depending on the worker's length with the same employer4. Up to 5 years of

employment employees are entitled to a two-week paid vacation, with a length of

service from 10 to 20 years employees are entitled to 28 days of paid vacations and

for more than 20 years correspond 35 days of paid vacations.

Social Security Contributions

Pension Fund: Employer and employee contributions to the pension fund are

mandatory as a percentage of all monthly earnings in cash or in kind and amount to

11.7 percent on behalf of the employer and 8 percent on behalf of the employee.

Family Allowances: Employers contribute 4.44 percent of all compensation to a

family allowance fund. Employers may deduct family allowances paid to employees

from contributions payable. The allowances consist of gradual amounts depending on

the employees' salaries, paid for each child, for marriage and for the birth or

adoption of a child. However, there is no family allowance for employees whose

salaries exceed AR$ 1,500 (except for maternity).

Unemployment Fund: Employers are required to contribute 0.89 percent of all

compensation to an unemployment fund.

Medical care benefits: Medical care is provided to workers with funding that comes

from a 9 percent payroll tax –6 percent contributed by the employer and 3 percent

by the employee (plus an additional 0.5 percent per dependent paid by the

employee). The amounts paid are allocated to various organizations that provide

medical assistance.

 

Altogether, employers pay 23 percent of basic wages to social security and family

allowance5, while employees pay a minimum total of 11 percent (more if dependents

are covered or if union dues are withheld). These percentages apply both to

employer and employee up to a monthly maximum compensation of AR$ 4,800 (US$

1,690). If compensation exceeds this taxable salary, the difference between it and

the actual remuneration is not subject to social security withholdings and

contributions.

MIGRATORY REGULATION

Local regulations on immigration establish three types of residence: permanent,

temporary and transitory. Following is a list and a description of the main admission

categories that can be applied for by a foreigner intending to make contacts, provide

services or conduct business, trade, entrepreneurial or investment activities in

Argentina.

To start a business in Argentina it is required to have a permanent or temporary

residence. There are no restrictions with respect to the nationality of company

directors but they need to provide an address in Argentina.

paid holiday for every 20 days of full-time work or its equivalent.

5 These contribution rates are valid to employers for all activities, except for commercial and service

invoicing more than AR$ 48 million a year in which case the total amount of employer contributions is

27%.

Foreign investors who wish to obtain a permanent residence have to prove that they

have made a direct foreign investment on his own behalf, of at least $100,000 -US$33,000

-. In the case of a deposit for the same amount they could get a residence for the

term of one year.

TAX SYSTEM

In accordance with the Argentine federal organization, the taxing rights lay on the

Federal level as well as on the local level which includes the Provincial Government

and the Municipal one.

The national constitution sets forth the taxation powers of the Federal and Local

Governments, as well as the general principles and limitations applicable to taxes.

The main taxes are the following. Under Argentine tax system, national, provincial

and municipal taxes are collected.

The main federal taxes are as follows:

• Income Tax

• Value Added Tax

• Tax on Financial Transactions

• Real Property Transfer Tax

• Tax on Personal Property

The main provincial taxes are as follows:

• Turnover Tax

• Stamp Tax

• Real State Tax

The municipal taxes arise from the collection of charges and contributions.

Federal Taxes

Income Tax

. Companies:

Corporate taxpayers resident in Argentina are obliged to pay income tax on their

worldwide income. In order to avoid double tax imposition, they may make a tax

credit for alike taxes paid abroad on their foreign business activities, up to the limit

of the increase in tax liability caused by including the foreign source income.

Companies are taxed at 35 percent of their taxable income.

Non-resident companies without a branch or other permanent establishment in

Argentina will solely pay taxes on their Argentine sources of income and capital

gains. Tax is normally levied in the form of a final withholding tax at various

effective rates depending on the particular type of income. These rates are

calculated as the 35 percent on a prescribed percentage of the gross payment.

Gross income generally includes all income collected by or due to the company.

Business income includes income from the sale of goods, depreciable assets, shares

or real estate; income from dividends other than from resident corporations;

interest; royalties and fees; and foreign-exchange gains. Corporations may deduct

from gross income all ordinary and necessary expenses incurred to obtain, maintain

and preserve taxable income. The general rule for deduction of expenses is that they

must be related to business and deemed necessary to earn income.

Transfer Pricing. Transfer price provisions became effective in Argentina on January

1999 after the income tax reform. For such purpose, taxpayers must adjust the

amount of their income, costs and deductions for operations made with economically

affiliated companies, to the price that would have been agreed if it had been

negotiated between independent parties under comparable circumstances. The

Income Tax Law incorporated the following methods to evaluate controlled

transactions of any type, including transactions of both tangible and intangible

property, services, and financial transactions: comparable uncontrolled price, resale

price, cost plus, profit split, and transactional net margin.

To collect taxpayer's information relevant to transfer pricing, Argentina's Federal

Administration of Public Revenue (AFIP) requires the semiannual submission of a

supplemental transfer pricing return, disclosing the amounts related to the

categories of intercompany transactions including: tangible goods, royalties, loans,

insurance, advertising, freight, services, and other transactions.

In conjunction with the preparation of income tax returns, taxpayers are required to

file a supplemental annual transfer pricing return giving the above mentioned details

for the whole fiscal year related party transactions and indicating the transfer pricing

method applied to test the arm's-length nature of the transactions reported.

The regulations also states that it is mandatory to file, together with the last

mentioned annual return, a transfer pricing study.

. Individuals:

Resident individuals pay income tax on their worldwide income on a progressive scale

raising from 9 percent to 35 percent.

Non-resident individuals are taxed only on Argentine-source income. Tax is levied as

a final withholding tax at various effective rates depending on the particular type of

income.

Value Added Tax (VAT)

VAT is applied to the delivered cost of the product or service at each change of

hands, with a credit given for taxes paid at earlier stages of production. Exports remain

exempt, and VAT paid on final export components is refunded. Imports are

subject to the tax at the same rates that apply to similar domestic items. Services

rendered abroad to Argentinian taxpayers are also subject to VAT.

The general VAT rate is 21 percent. This rate rise to 27 percent for the following

services: Telecommunications, supply of gas and electric power and water supply,

sewage disposal and drainage. At the same time, capital goods, fruits, vegetables,

grains, meat, newspapers, magazines, interest and commissions on loans when the

lender is a local financial entity or a foreign financial entity that meets certain requirements

and medical assistance programs are taxed at a reduced rate of 10.5

percent. Exports are not subject to VAT.

Input VAT originated in the purchase, construction, manufacturing, elaboration or

definitive import of capital assets that—after 12 periods lapse as from the period in

which they were computed—form part of the taxpayer’s credit balance may be

credited against other taxes levied by Argentina’s Revenue Service (AFIP) or refunded

by the tax authorities. This provision will not apply when capital assets are not part

of the taxpayer’s assets—upon the respective crediting or refund request.

Tax on Presumed Minimum Income

This tax is levied on worldwide assets of Argentine companies. The tax rate is 1

percent, some assets are tax-exempt, e.g. stocks and other capital share of other

entities subject to taxation. The acquisitions of new goods subject to depreciation -

except for automobiles- as well as the investment in construction of new buildings or

refurbishing (for the first two years) are excluded from this tax.

Any tax payable hereunder is allowed as a credit toward normal corporate income

tax. The excess in any given year of the presumed minimum income tax over the

income tax liability can be carried forward as a credit for the following 10 years.

Tax on Financial Transactions

This tax is levied upon debits and credits from banking checking accounts, and other

related issues.

The general rate of the tax is 6%° (six per thousand) for credits and 6%° (six per

thousand) for debits. In transactions involving collection management, rendering of

collections and payments to commercial businesses member of the credit and/or

charge card system -when the revenues from the collection operation, collection and

payments are not credited to accounts open in the name of the beneficiaries of the

securities or documents and issuers of the management, collection or payment orderas

applicable, in which case the tax rate to be levied will be 12%°(twelve per

thousand).

The tax law and its regulations provide several exemptions to this tax. For example,

it doesn’t apply to debits and credits relating to salaries, to credits in checking

accounts originating from bank loans and to transfer of checks by endorsement.

Real Property Transfer Tax

When the transfer of ownership for valuable consideration involving real property

located in Argentina is not subject to income tax, it is subject to a special 1.5

percent tax on the transfer of real estate.

Tax on personal assets

Individuals are subject to an annual tax of 0.5 percent on personal assets exceeding

$102,300 up to $200,000. Beyond this amount the tax rate increases to 0.75 percent.

Stocks traded on the Buenos Aires Stock Exchange are exempted from this tax if the

securities are held for at least a year. This tax is levied on worldwide assets in the

case of resident individuals; non-residents will solely pay this tax levied on their

argentine assets.

Provincial and Municipal Taxes

Turnover tax

This tax is levied by each of the 23 provinces of the country and the Federal District

of the city of Buenos Aires. The tax is levied on the gross receipts originated in the

exercise of any for profit civil, commercial or industrial activity on a regular basis.

Applicable rates vary in each jurisdiction but are usually around 1 percent for

primary production (i.e. agricultural, cattle raising, fishery and mining), 1.5 percent

for industry and construction and 3 percent for commercial activities and services.

Stamp tax

Stamp tax is levied on public or private instruments upon formal execution. The rates

varying between 0.5 and 2.5 percent. Some jurisdictions have eliminated this tax for

certain transactions.

Tax on real estate

Provinces and municipalities tax real estate located on their respective jurisdiction.

This tax varies on each jurisdiction.

For further information, you may visit the Legal Framework section of

our web site: www.inversiones.gov.ar

 

4 Procedures and Requirements

 

STARTING A BUSINESS

At a minimum, businesses in Argentina must register with the authorities before

commencing business operations. Provisions covering registration and formation of

Business Operations are contained in Argentina’s Commercial Companies Law, N°

19,550, and Foreign Investment Law, N° 21,382.

Foreign investors are entitled to the same treatment as that given Argentine

nationals, and this guarantee includes foreign investors rights to establish any form

of business available to Argentines for nearly any commercial purpose.

Setting up a business in Argentina could require that an investor go beyond simple

compliance with stated procedures, as well as require interpretation of Argentine

laws and regulations.

Thus it is essential to obtain legal and accounting advice from professionals in

Argentina who are familiar with the federal and local government structure and who

know what the regulatory requirements and procedures are and how they are

implemented. With such assistance, investors can structure their companies to

maximize compliance with laws and regulations while minimizing exposure to

regulatory agencies. All submissions must be in Spanish, and any original documents

not in Spanish must be accompanied by a Spanish translation made by a public

translator.

PROCEDURES IN ORDER TO START A BUSINESS:

The name of the company is verified by the Office of Corporations (Inspección

General de Justicia, IGJ6). The reservation of a name is mandatory to incorporate

6 By means of this Office the Argentine Government exercises control over certain business

organizations domiciled in Argentina. The IGJ or its provincial equivalent, approves

aplications for the formation of corporations and the establishments of branches. The IGJ is

empowered to examine books and records, request whatever informationand documents

itmay deem necessary, attend meetings and file formal accusations with administrative

authorities and courts of law.

any new company or make any change to the corporate name of an existing one. The

form of "Reservation of name" (Reserva de nombre) expires in 30 days.

Certify signatures of quota holders by a notary public.

It is not obligatory to notarize bylaws. They can be formally constituted under a

private document. However, it is required that the signatures of the founding

members be certified by a public notary. At the inaugural meeting of

partners/quotaholders draft statutes are approved and capital is subscribed and paid.

The capital must be fully subscribed upon incorporation, but only 25 percent must be

paid in. The balance must be paid in two years.

Corporate existence is deemed to begin as soon as subscribers have paid in 25

percent of the capital and the publication and registration are complete. During the

interval between the inaugural meeting and final registration with the IGJ, a

corporation can operate as long as the words en formación are appended to its name.

However, limitations on the liability of directors and shareholders will not apply until

registration is complete.

Publish the new company’s notice in the Official Paper (Boletín Oficial)

Register at the Public Register of Commerce (Registro Publico de Comercio) at the

Office of Corporations (IGJ). Enter the official record of incorporation, together with

the documents of directorial nomination approval, and a copy of the publication.

During the period of formation, that is, after the inaugural meeting and before the

final registration at the Public Registry of Commerce.

Buy special books

Get a form from the Public Notaries College and a notary public submits the company

books for rubrication by Office of Corporations.

It is compulsory for Companies to keep accounting records. Their design may vary

according to the preferences of their management and the needs of the business

itself. However, two books are mandatory: a journal and an inventory book, both of

which must be bound and have numbered pages, and be approved by the local

commercial court. The journal should include an entry for each transaction, while

the inventory book should contain precise and detailed annual financial statements

Obtain a tax identification number

Corporations must file an application subscribed by its President, being its signature

certified by a notary public, in order to get a tax identification number (widely

known as CUIT) from the National Tax Office (Administración Federal de Ingresos

Públicos, AFIP).

Obtain social security number from the National Tax Office

Pursuant to Argentine legislation, corporations must be registered as employers with

the National Tax Office, by filing an application describing the number of employees

and the date of their hiring. Employers pay pension fund, family allowances fund,

social health, social services. Employees can choose between state and private

pension systems.

INVESTMENT REGISTRY

Foreign investment may be made in Argentina without prior approval from the

executive authority. At present there is no registry of foreign investment, nor a

requirement to inform any institution or government agency. Nevertheless the

possible existence of a registry, with statistical purposes only, is mentioned in the

legislation.

If a company is willing to registry an investment it must initiate an expedient in the

Secretariat of Industry, Commerce and Medium and Small Companies of the Ministry

of Economy and Production.

TRANSFER OF FOREIGN CURRENCIES

The Central Bank of Argentina (BCRA) establish the requirements that must be filled

out in order to transfer foreign currencies. For more information check out the

Comunicación A 3471, Comunicación A 3473 from the BCRA and its modifications

(www.bcra.gov.ar).

In the last months the Central Bank has further flexibilized access to Free Foreign

Exchange Market, (FFEM) with the purposes of, inter alia, maintaining the value of

the U.S. dollar, and gradually regularizing the acquisition of foreign currency and its

transfer abroad. In order to do that increased the amount that companies may

acquire in the FFEM without requiring its prior consent. Central Bank prior consent is

not required for payments of principal on financial debts to non-residents from

private sector non-financial entities and financial institutions.

Dividends and profits can be remitted abroad without the central bank’s prior

authorization. Dividends may be paid out of current profits plus retained earnings if

any current or accrued losses are covered. The board of directors may declare

interim dividends, but a balance sheet must be prepared and paid-in capital must

total at least 2.1 million pesos. An external audit must be presented, and the central

bank must give its authorization.

VISA AND PASSPORT REQUIREMENTS

A valid passport is required for entry into Argentina, nevertheless tourists from most

of the countries do not need visas. In case visas are mandatory, procedures to obtein

it should be done in the nearest Argentine embassy or consulate. A visa is

theoretically required of all business travelers, but most businesspeople who will be

in the country for less than 90 days enter as tourists to minimize paperwork.

Foreigners who will be in Argentina for longer than 90 days, or who might expect to

draw official attention because of their business activities, should obtain valid

business visas. Application for a business visa requires a letter from the traveler's

employer stating the business reason for travel, the anticipated length of the visit,

and acceptance of financial responsibility for the traveler. Multiple-entry business

visas are valid for four years.

PROCEDURES TO OBTAIN THE ARGENTINEAN RESIDENCE

The procedures are personal and must be made at the National Administration of

Migrations (Dirección Nacional de Migraciones). More information on:

www.mininterior.gov.ar.

For each admission category there are two kind of documentation that must be

presented to fulfill the procedures in order to obtain a residence permit in Argentina:

personal and the one related with the migratory category.

To apply for a residence permit in order to work in Argentina, the applicant must

provide certain personal data, medical certificates and other documents like a

certificate of no criminal record. In addition the company for which the applicant is

going to work must provide additional corporate information and the applicant and

the employer must enter into a labor contract.

For further information, you may also see the file: “Obtener la Residencia

Argentina” available in our website: www.inversiones.gov.ar.

EXPORTS AND IMPORTS

In order to make foreign trade trasnsactions, exporters and importers must register

as such and mantein prescribed documentation regarding their activities with the

Argentine Registry of Exporters and Importers.

The registration is mandatory and must be done with the General Administration of

Customs (Dirección General de Aduanas, DGA). Individuals or companies could be

listed as exporters or importers. Once the inscription is made it’s possible to operate

through any custom of the country.

For detailed rules and reglations on export registration, refer to the Custom Code.

For further information, you may also see the file: “Primera Exportación” available

in our web site: www.inversiones.gov.ar.

 

5 Investment  Incentives

Argentina has a number of regimes designed to promote productive development and

investments by both domestic and foreign investors alike. Investors can tap into

three large incentives groups or categories: General Incentives, Sectoral Incentives

and Regional Incentives.

 

GENERAL INVESTMENT INSTRUMENTS

There are certain instruments and measures aimed at reducing the cost of an

investment at its initial stage (greenfield) or for those who are modernizing or

enlarging their operations (brownfield). Included among these incentives are the

following: Value Added Tax (VAT) reduction on capital goods, accelerated

depreciation on assets and / or automatic refund of VAT on capital good purchases

and import regime for large industrial investments.

Export oriented projects could be structured under free trade or export processing

zones. Nevertheless if they prefer to be not operative under such scheme there are

some other incentive systems like drawback, temporary admission and “in-house

customs”.

In recent years the Argentine Government have shown special interest in promoting

and developing SMEs, in view of their proven ability to create jobs. In this

connection, the Undersecretary of SMEs and some others governmental institutions

promotes the granting of certain incentives and aid schemes designed especially for

SMEs. Included among these incentives are the following: Reduction on Payroll

Contributions, Fiscal Credit for Training Program, Training and Competence

Certification Program. And Financing programs.

SECTORAL PROMOTION

Mining Promotion Regime

In order to attract investment in the mining sector, Argentina through the Mining

Investment Law Nº 24,196 established a 30-year guarantee of fiscal stability for new

projects and/or extension of existing projects. The tax treatment encourages risk

investments by providing access to machinery and equipment at international prices,

rapid recovery of capital invested through accelerated depreciation of capital goods,

extraordinary deductions of exploration costs and the deductibility of new assets

incorporated in the process.

Forestry Regime

The Forest Investment Law (Law N° 25,080) have direct impact not only at primary

level, but also it will be reflected in the future of industries related to this sector.

This law complements the Promotion Regime for Forest Plantations started in 1992.

Law 28080 grants important fiscal and economic benefits with the goal of reaching a

3 million hectares planted area by the year 2010. The law establishes a fiscal

stability for a period of 30 years from the date of approval of the project, an

economic non refundable support and very favorable tax treatment for projects in

this sector (valued added tax refunding, exemption from all taxes on assets for

forestry production, special regime of deductions for Income Tax).

Software

Law N° 25,922 promotes the software industry granting fiscal and economic benefits.

The law establishes fiscal stability for a 10-year term, said stability includes national

direct taxes, duties and special contributions and implies that their aggregate

national tax liability could not be increased as of the date they are incorporated to

the regime. Nonrefundable and nontransferable credits for employer social security

contributions (up to 70 percent of that amount), which may be used to pay federal

tax liabilities. Reduction of 60 percent of their income tax liability of each fiscal

period, to the extent they can prove they have incurred in expenses related to

research and development and/or quality certification processes and/or exportation

of software in the terms and conditions to be set forth by the applicable regulations.

Exemption from imports duties on hardware and IT components.

Tourism Promotion

The construction and equipment of new hotels, the reforms and improve upon

existing ones and for recreation and general services related with tourism are

promoted through total or partial exemption on turnover tax and real state tax for a

period that could range from 5 to 15 years according to the location and activity and

the accelerated refund of VAT related to the investment or with an accelerated

depreciation regime under the income tax.

Other sectors. On the last months, the Argentine Government sent to Congress a bill

containing a series of measures aiming to promote investments in different sectors

like Biotechnology, Biofuels and Oil & Gas exploration.

REGIONAL PROMOTION

It is possible to obtain some tax incentives under promotional schemes sponsored by

various provincial governments. Even when there are certain differences among

these regimes, generally take the form of a waiver, exemption or reduction in local

taxes (Turnover, Stamp and Real State Tax), support for infrastructure and

equipment projects, facilities for the purchase, rental, or lease without charge of

public property. Access to these regimes are negotiated on a case-by-case basis with

the specific provincial governments based on the nature of the proposed investment.

Most of the time the sectors promoted include manufacturer industries, mining,

forestry and tourism.

At the same time, provinces have business support infrastructure such as industrial

parks. Some provinces have free trade zones in which export oriented projects could

be structured.

Our website present a complete document of Investment Incentives available in

Argentina: www.inversiones.gov.ar/incentives.htm

 

6 Useful Addresses

 

GOVERNMENT AGENCIES AND ENTITIES

Ministry of Economy and Production

Ministerio de Economía y Producción

Hipólito Yrigoyen 250 (CP1086AAB) Ciudad de Buenos Aires.

Tel: (54-11) 4349-5000

www.mecon.gov.ar

Secretariat of Industry, Commerce and Small & Medium Enterprises

Ministry of Economy and Production

Julio A. Roca Av. 651 (C1067AAB) Ciudad de Buenos Aires.

www.mecon.gov.ar/sycim

Ministry of Federal Planing, Public Investment and Services

Ministerio de Planificación Federal, Inversión Pública y Servicios

Hipólito Yrigoyen 250 (CP1086AAB) Ciudad de Buenos Aires.

Tel: (54-11) 4349-5000

www.minplan.gov.ar

Ministry of Foreign Affairs, International Trade and Cults

Ministerio de Relaciones Exteriores, Comercio Internacional y Culto

Esmeralda 1212 (C1007ABP) Ciudad de Buenos Aires.

Tel: (54-11) 4819-7000

www.mrecic.gov.ar

The Tax Bureau

Administración Federal de Ingresos Públicos (AFIP)

Avda. de Mayo 1317,-2º Floor Office 209 (CP1086AAB) Ciudad de Buenos Aires.

Tel: (54-11) 4347-3208

www.afip.gov.ar

National Institute of Statistics and Census

Instituto Nacional de Estadística y Censo (INDEC)

Julio A. Roca Av.609 -PB (C1067ABB) Ciudad de Buenos Aires.

Tel: (54-11) 4349-9639

www.indec.mecon.ar

National Institute of Agricultural Technology

Instituto Nacional de Tecnología Agropecuaria (INTA)

Rivadavia 1439 (1033) Ciudad de Buenos Aires.

Tel: 54-11-4338-4600/4682

www.inta.gov.ar

National Institute of Industrial Technology

Instituto Nacional de Tecnología Industrial (INTI)

Gral. Paz Av. 5445 (B1650KNA) San Martín- C.C. 157.

Tel: (54-11) 4724-6200

www.inti.gov.ar

National Institute of Industrial Property

Instituto Nacional de la Propiedad Industrial (INPI)

Paseo Colón Av. 717 (1063) Ciudad de Buenos Aires.

Tel: 0800-222-INPI (4674)

www.inpi.gov.ar

Export-Ar Foundation

Paraguay 864 (1057) Ciudad de Buenos Aires.

Tel: (54-11) 4315-4841

www.export.org.ar

BUSINESS ORGANIZATIONS

Argentine Industrial Union

Unión Industrial Argentina (UIA)

Av. de Mayo 1147/57 (1085) Ciudad de Buenos Aires.

Tel: 4124-2300

www.uia.org.ar

Argentine Rural Society

Sociedad Rural Argentina

Florida 460 (C1005AAJ) Ciudad de Buenos Aires.

Tel: 4324-4700

www.ruralarg.org.ar

Argentine Chamber of Exporters

Cámara de Exportadores República Argentina

Roque Sáenz Peña Av. 740 - 1º Floor (1035) Ciudad de Buenos Aires.

Tel: (54-11) 4394-4482

www.cera.org.ar

Argentine Chamber of Importers

Cámara de Importadores República Argentina

Belgrano Av. 427 -7° Floor (C1092AAE) Ciudad de Buenos Aires.

Tel: (54-11) 4342-1101

www.cira.org.ar

Argentine Association of Managers

Asociación de Empresarios Argentinos

Bartolomé Mitre 326 -1° Floor Ofic. 109 (C1036AAF) Ciudad de Buenos Aires.

Tel: 4312-7523

www.aearg.org

 

INVESTMENT PROMOTION AGENCY OF ARGENTINA: ABOUT US

The Investment Promotion Agency of Argentina is a work unit within the Secretariat

of Industry, Commerce and Small & Medium Enterprises of the Ministry of Economy

and Production.

ACTIVITIES

The Agency’s activities are focus on:

Institutional Promotion: which is basically the identification of business opportunities

in different sectors and locations of the country and the distribution of the

information generated by the Agency.

Investor Support: working as a reference center, specialized in supplying up-dated

information on different aspects, such as: economic, financial, legal, education,

technical, taxes, or other relevant aspects which are necessary when taking a

decision of investing in Argentina.

SERVICES

Its gives information about different items:

• Legal Framework and Investment Incentives

• Business Opportunities and Sectorial Information

• Economic Reviews of Argentina Provinces

• Updated legal information of investment and international commerce

• Costs of main items

On the other hand, the Agency works jointly with some others national and provincial

governmental departments on the promotion of investments in Argentina and the

organization of sectorial and regional meetings with the same purposes.

Contact us:

INVESTMENT PROMOTION AGENCY

AGENCIA DE DESARROLLO DE INVERSIONES

Ministry Of Economy and Production

Av. Julio A. Roca 651 -5° Floor Office 20- (C1067AAB) Ciudad de Buenos Aires

Tel. (54-11) 4349-3442/ 3313/ 3315 Fax (54-11) 4349-3453

E-mail: adi@mecon.gov.ar Web Site: www.inversiones.gov.ar