Argentina

Starting a Business in

Argentina

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Argentina. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in June 2015.

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  • Standardized Company

  • Legal form: Sociedad de Responsabilidad Limitada (SRL)
  • Paid-in minimum capital requirement: ARS 2,500
  • City: Buenos Aires (Ciudad autonoma de)
No. Procedure Time to Complete Associated Costs
1 The name of the company is verified by the Office of Corporations (Inspección General de Justicia) (IGJ)
Agency: Office of Corporations

The corporate name must be reserved to incorporate a new company. A request must be submitted using the reservation of name form (reserva de nombre) for a cost of ARS 210. Such request expires in 30 days. The Inspección General de Justicia also provides online services for name verification at: https://www2.jus.gov.ar/igj-homonimia/Principal.aspx
1 day ARS 210
2 Certify signatures of partners by a notary public
Agency: Notary Office

The company is not obliged to notarize its bylaws, which can be formally constituted under a private document. However, the signatures of the founding partners have to be certified by a notary public. Each signature certification costs around ARS 250 + VAT.
1 day Approximately ARS 1,000 to ARS 1,500 (cost of 5 notarized signatures)
3 Deposit initial capital in National Bank (Banco de la Nación Argentina) and obtain proof of payment
Agency: National Bank

The company must deposit at least 25% of the subscribed capital in the National Bank and a obtain proof of payment. The deposit must be made at the central office of the national bank (Banco de la Nación Argentina) or at the branch corresponding to the company's domicile. It can be withdrawn once the company's bylaws are registered by the Office of Corporations.
1 day ARS 45 (VAT excluded)
4 Publish the new company’s notice in the official paper (Boletín Oficial)
Agency: Official Gazette

There are three kinds of publication services:
-Ordinary procedure (72 hours): for each line of text up to 70 spaces: ARS 59.
-Semi-expeditious Procedure (48 hours): for each line of text up to 70 spaces: 79.
-Expeditious Procedure (24 hours): for each line of text up to 70 spaces: ARS 94.

Legalization is no longer required if notice is signed by an attorney. A "digital registration" of the attorney's signature has been set up by Resolution 52/2010 of the Legal Secretary of the Presidency (Secretaría Legal y Técnica, SLyT). Cost of digital registration is ARS 64.

As the Official Gazette charges per line, final cost will depend on the length of the notice and whether it will be published pursuant to the Ordinary, Semi-expeditious or Expeditious Procedure. If the notice is signed by a manager or/and authorized representative who is not an attorney, a notary public, or a chartered accountant, his/her signature and powers to execute such act will be certified by a notary public. The cost of this certification cannot be determined precisely, as each notary public has his/her own fees, though it should not exceed AR$ 350.
2 days on average approximately ARS 2,500 (expedited publication fee) + ARS 100 (legalization of signature)
5 Payment of the incorporation fee
Agency: Banco de la Nación Argentina and Public Registry of Commerce

The invoice shall be downloaded from http://www2.jus.gov.ar/igj-tasas/, paid in Banco Nación and submitted to the Public Registry of Commerce.
1 day ARS 100
6 Registration with the Public Register of Commerce of the City of Buenos Aires
Agency: Public Registry of Commerce of the City of Buenos Aires

Companies located in the City of Buenos Aires must register their by-laws and other documents related to their incorporation. The Company must file the proposed Articles of Association and By-laws, the publication in the Official Gazette, evidence of managers' and syndics' (the latter, if applicable) acceptance of position, evidence of the deposit of the cash contributions in the Banco de la Nación Argentina, evidence of compliance with the managers' guarantee regime (filing of managers' performance bonds) and evidence of the reservation of the corporate name, for approval with the Office of Corporations.

Filing time:
- Regular filing: approximately 45 days
- Urgent filing: approximately 5 business days.
In each case if no objection is made by the Office of Corporations.
5 days on average (expedited procedure) ARS 3,360 for expedited procedure
7 Buy special books
Agency: Commercial bookstores

The books are purchased at commercial bookstores. Once purchased, they should be recorded at the Office of Corporations, as detailed in the following procedure.
1 day fees included in procedure 8
8 Get a form from the Public Notaries College and have a notary public submit the company books for rubrication by the General Inspection of Justice (IGJ)
Agency: Office of Corporation

"Once the General Inspection of Justice (Inspección General de Justicia, IGJ) registers the SRL, the company must obtain the rubric of at least a Book of Minutes of Partners' and Managers' Meetings and four accounting books (Buyers VAT Book, Sellers VAT Book, Inventory and Balance Book, and Journal). This procedure can only be started once the company is registered.
A notary public has to request a form from the Notary Public's College and submit the rubric request of the company books to the IGJ.
The form includes up to five books for their rubric. If the company needs to obtain the rubric for more than five books, another form of the same value has to be filed.

According to Resolution 15/2012 the new values for rubrication of corporate books are:
(1) cost of 5 books (ARS 920 approximately). The price of the books can vary depending on the bookstore and the number of sheets.
(2) cost of the IGJ form (ARS 800 for urgent filing; ARS 350 for ordinary filing)
(3) notary fees (about ARS 600 for urgent filing + VAT; ARS 470 + VAT for ordinary filing)
(4) book registration fees (ARS 30)"
5 days (urgent filling) ARS 3,018
9 Corporate manager needs to obtain a Fiscal Code (Clave Fiscal)
Agency: National Tax Office (AFIP)

The legal representative can obtain his/her Fiscal Code directly in the corresponding AFIP Agency by taking his national identity card and a photocopy of it. If the legal representative is a non-Argentinean resident, who can not assist personally to the AFIP Agency, will have to link his/her CUIT with a person that has got a fiscal code by means of Form 3283/F and 3283/J, along with a copy of his/her complete Passport and a residency certificate.
1 day no charge
10 Obtain a tax identification number (CUIT) from the National Tax Office (Administración Federal de Ingresos Públicos, AFIP) and register for social security
Agency: National Tax Office (Administración Federal de Ingresos Públicos, AFIP)

"Tax and social security registration can be done jointly at the National Tax Office (Administración Federal de Ingresos Públicos, AFIP). For a company to obtain its Tax Identification Number (Código de Identificación Tributaria, CUIT), all of the individuals that have been appointed as managers of such company need to have previously obtained their respective CUITs (as managers of local companies) and the sole legal representative or the ""administrator"" (if more than one manager has been appointed legal representative) needs to have obtained his/her Fiscal Code (Clave Fiscal) (see procedure 9).

Since 2007, pursuant to AFIP's General Resolution 2337/2007, the sole legal representative or the ""administrator"" with Fiscal Code must file AFIP form F. 420/J though the online tax system. If the form is correctly completed, an ""approval certificate"" will be issued by such online tax system. Upon that, the sole legal representative or the ""administrator"" will have to file with the corresponding agency of the AFIP: (a) the AFIP form F. 420/J (listing the number of employees and the date of hire), as filed with the online tax system, signed by this individual before a notary public; (b) evidence of filing of such form with the online tax system; (c) the ""approval certificate""; (d) a certified copy of the SRL's bylaws, duly registered with the Office of Corporations; (e) two documents evidencing the SRL's fiscal domicile (i.e. any service invoice, police's domicile certification, lease or commodatum agreement, etc.). Upon approval of the filed documentation, the AFIP will issue the SRL's CUIT. Afterwards, the sole legal representative or the ""administrator"" should link his/her personal Fiscal Code with the SRL's CUIT (by evidencing that he/she is the sole legal representative or the ""administrator"" at the SRL; in the latter case by filing with the AFIP the form detailed as Annex IV to AFIP's General Resolution 2239/2007, signed before a notary public)."
4 days no charge
11 Register turnover tax at local level at the Administración General de Ingresos Públicos (AGIP) in the City of Buenos Aires
Agency: Administración General de Ingresos Públicos (AGIP)

In order to register the company before the turnover tax, first the legal representative needs to obtain the company’s tax password issued by the DGR. To do so they need to file the following documentation before the DGR: (i) Notarized copy of the company’s bylaws and the last designation of authorities duly registered before the General Inspection of Corporations, (ii) national identity card of the legal representative (the original and a copy, or a notarized copy), (iii) evidence of the company’s CUIT, (iv) evidence of the legal representative’s CUIT, (v) document evidencing the legal representative’s address, (vi) if more than one person is appointed as legal representative, all of the appointed people need to signed the form “Anexo IV” designating one of them to handle the tax password. Once they obtain the tax password, they can register the company before the turnover tax online through the DGR web page (www.agip.gov.ar/web/impuestos). Please bear in mind that if the company's activities are levied with the turnover tax in more than one jurisdiction, the proceeding changes.
Less than one day (online procedure) no charge
12 Register with the Sistema Unico de Seguridad Social (SUSS)
Agency: Unified System for Labor Registration (USLR)

The procedure can be done online (www.afip.gob.ar) or by submitting the sworn affidavit form No. 885 to the AFIP. The social security withholdings and contributions should be paid to the National Regime of Social Security.
Less than one day (online procedure) no charge
13 Contract an insurance for employees with a risk labor company (ART, Aseguradora de Riesgos del Trabajo)
Agency: Aseguradora de Riesgos del Trabajo (ART)

The cost of hiring an insurance is free but a premium must be paid on a monthly basis.
1 day no charge
14 Rubricate books of wages in the Dirección General de Empleo (Ministry of Labor)
Agency: Dirección General de Empleo (Labor Agency)

The rubrication of the book is made by the Labor Agency. The appointment with such agency to rubricate can be scheduled online (the rest of the proceeding cannot be done online). Each page of the wages book has to be rubricated (it is not a general rubric of the book such as in the corporate books). Therefore the price to be paid will vary according to the number of pages the employer rubricates. Rubric of each page used is mandatory.
1 day ARS 5 per page (an average of 20-25 pages)
  

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