Argentina

Starting a Business in

Argentina

Listed below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs.  It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income (GNI).

The information appearing on this page 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 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standardized Company

  • Legal Form: Sociedad de Responsabilidad Limitada (SRL)
  • City: Buenos Aires (Ciudad autonoma de)

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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)

The corporate name must be reserved to incorporate any new company or make any change to an existing name. A request must be submitted using the reservation of name form (reserva de nombre) for a cost of ARS 75. Such request expires in 30 days. The Inspección General de Justicia also provides online services for name verification http://www.jus.gov.ar/registros/IGJ/
1 day ARS 75
2 Certify signatures of partners by a notary public

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 about ARS 130. Signature of managers and statutory auditors (if applicable) of the company must also be certified by a notary public. At the first meeting of partners, draft bylaws are approved and capital is fully subscribed and paid in, except in case of cash contributions were only 25% of the start up capital must be paid in at constitution and the balance has to be paid in within the next 2 years.
1 day ARS 650 (cost of 5 notarized signatures)
3 Deposit initial capital in National Bank (Banco de la Nación Argentina) and obtain proof of payment

The company must deposit at least 25% of the subscribed capital, which must be no less than ARS 3,000, in the National Bank, and also obtain proof of payment. The deposit must be made at the central office of the Argentine 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 30
4 Publish the new company’s notice in the official paper (Boletín Oficial)

According to Resolution No. 83/2010 of the Legal and Tecnical Secretary ("Secretaría Legal y Técnica), there are three (3) kinds of publication services : Ordinary Procedure (72 hours): For each line of text up to 70 spaces: AR$ 28,00. Total: AR$ 1,204.00 ;
Semi-expeditous procedure (48 hours): For each line of text up to 70 spaces: AR$ 38,00. Total: AR$ 1,634.00;
Expeditous procedure (24 hours). For each line of text up to 70 spaces AR$ 44,50. Total: AR$ 1,913.50. If the notice is signed by an attorney, to the cost of publication it should be added the cost of legalizing of his/her signature (AR$ 36), while if it is signed by the manager of the company, the cost for the legalization of his/her signature is ARS 100.

The publication fee ranges from AR$ 1,300 to AR$ 2,100, approximately; depending on the length of the notice and the kind of publication chosen.
1-3 days ARS 2,035 (expedited publication fee)+ ARS 100 (legalization of signature)
5 Payment of the incorporation fee


1 day ARS 30
6 Registration with the IGJ, entity operating the Public Registry of Commerce in 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 with the ICG. 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 (or other applicable documentation if non-cash contributions are made), 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: 5 to 20 days ( 10 days, if no objection).
- Special and urgent filing: 1 to 5 days.

According to Resolution 7/2005 (effective as of February 7, 2005), the company directors must put forth a guarantee. The guarantee to be furnished by Directors should be in an amount not less than AR$10,000. Such a guarantee may be created by direct funding into the S.R.L., or through public bonds, securities, sureties or bank bonds or the taking of liability insurance.
5 days ARS 250
7 Buy special books

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 IGJ

Once the 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. The cost includes:

(i) cost of 5 books (ARS 300)
(ii) cost of the IGJ form (ARS 130)
(ii) notary fees (about ARS 300)
(iii) book registration fees (ARS 30)
5 days ARS 760
9 Corporate manager needs to obtain a Fiscal Code (Clave Fiscal)

"Fiscal Codes" are required for individuals and companies to file affidavits and information with the National Tax Office (AFIP) through the online tax system. Pursuant to National Tax Regulations (AFIP) No.2239/2007, local companies shall make filings through the referred online tax system once their Tax Identification Number (Clave Unica de Identificación Tributaria or CUIT) is linked with the Fiscal Code of the manager appointed as sole legal representative or the manager appointed as "administrator" (if more than one manager have been appointed legal representative). The sole legal representative or the "administrator", to obtain his/her Fiscal Code, must file the AFIP form 3282/A, signed and certified by a notary public, with the corresponding AFIP agency, along with a copy of the company's bylaws certified by a notary public and evidence that he/she has first obtained his/her CUIT (as manager of local companies). The form includes information about the fiscal address where the individuals will render services as corporate managers -the corporate domicile of the company.
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

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).

Once the company is registered with AFIP, registration for pension with the Argentine Retirement and Pensions' Integrated System is done automatically when. This joint registration is in force since 24/03/1993 (Official Gazette dated 25/03/1993) as a result of the issuance of Decree 507/93.
4 days no charge
11 Register turnover tax at local level at the Dirección General de Rentas (DGR) in the City of Buenos Aires

Each of the 24 jurisdictions -23 Argentine Provinces and the City of Buenos Aires- impose a tax on turnover (sales) generated within its boundaries, regardless whether the beneficiary of such sales maintains a domicile or place of business in its jurisdiction. The related rates of tax, rules, and other assessment procedures are determinable solely by each jurisdiction's government authority.
Main activities are included in the following items but there are many special rates depending on the activity.
- Primary production: 1%
- Production of woods: 3% (special activities: 4.9%)
- Industrial production: 1%
- Financial activities: between 5 and 5.50%

The following documentation must be filed with the General Directory of Income (Dirección General de Rentas, DGR): (a) duly completed form FN 009/0024 (download: http://www.agip.gov.ar/web/impuestos/archivos/IB_F%20009-0024(frente).pdf ) executed by the SRL's legal representative or partner, before a notary public or bank; (b) national identity card of the legal representative or partner who signs the above form; (c) documentation evidencing the registration of the partner or legal representative as SRL's manager with the Office of Corporations; (d) power of attorney of the individual who carries out the filing, if applicable; (e) evidence of the SRL's CUIT; (f) SRL's by laws registered with the Office of Corporations; and (g) document evidencing SRL's commercial domicile (e.g. any public service invoice, police's commercial domicile certification or lease agreement).
1 day ARS 50
12 Register with the Unified System for Labor Registration (USLR)

Once the employer files the registration of its employees before the AFIP, they are automatically registered in the Unified System for Labor Registration (USLR). To pay its social security contributions, the company has to fill out and submit electronically with its Fiscal Code the AFIP form 931 in order to obtain the registration.
Employers must make social security withholdings and pay contributions to the USLR, calculated on the salaries paid to employees under labor relationship. This entity manages (a) the retirement pension fund, (b) the family allowances fund, (c) the social security fund, and (d) the unemployment fund.


1 day no charge
13 Contract an insurance for employees with a risk labor company (ART, Aseguradora de Riesgos del Trabajo)

Risk Labor Companies (Aseguradora de Riesgos del Trabajo, ART) are private companies.
1 day no charge
14 Rubricate books of wages in the Ministerio de Trabajo (Ministry of Labor)

Every jurisdiction has its own rules regarding the cost of rubricating books of wages in the Argentine Ministry of Labor.

In the City of Buenos Aires, books of wages are registered with the Dirección General de Protección del Trabajo de la Ciudad de Buenos Aires (Labor Protection Agency of the City of Buenos Aires).
1 day ARS 75
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