Post Number: 5
|Posted on Monday, May 05, 2008 - 12:41 am: |
my wife and I are planning to move to Argentina. We have spent the last few years working in a voluntary capacity selling and distributing books. We hope that we would be able to register a company in Argentina that imports books and sells them at little or no profit within Argentina. The books would be some religious books and some english learning books. Is it difficult to set up a business in Argentina? What would be required?
Post Number: 1658
|Posted on Monday, May 05, 2008 - 9:48 pm: |
You should do some thorough DD. Registering a corporation in Argentina is not only time consuming but it may involve continuous expenses even if you never invoice anyone, never operate buying/selling, never open an office. Still, you must comply with a miriad of regulations such as carrying accounting books and preparing an annual balance sheet. Books may also have special tax treatments. When it comes to imports there are even further regulations. You may need a license in order to import yourself or else do it through an agent. But since your theme is religious, your business may fall within a completely different set of regulations. Mine, is a layman answer.
(Message edited by admin on May 06, 2008)
Post Number: 64
|Posted on Tuesday, May 06, 2008 - 3:09 am: |
Starting a business in Argentina is much like starting a corporation in most countries, only the process is a lot more bureaucratic. According to the legislation concerning company formation in Buenos Aires the following fifteen distinct steps are needed:
i). Getting the name verified by the Office of Corporations (Inspección General de Justicia - IGJ).
ii). Certifying signatures of quota (stock) holders by a notary public
iii). Obtaining a bank account in the name of the company to certify that 25% of the subscribed capital is paid-in.
iv). Publishing the new company's notice in the official paper (Boletín Oficial).
v). Payment of the incorporation fee
vi). Registration at the Registro Público de Comercio at the Inspection General de Justicia (IGJ).
vii). Purchase of special books.
viii). Submission of special books by a notary public for rubrication (i.e. to have the pages legally stamped in official red ink) by the IGJ.
ix). Obtaining a tax identification number (CUIT) from the National Tax Office (Administración Federal de Ingresos Públicos, AFIP).
x). Obtaining a social security number from AFIP.
xi). Registration of turnover tax at local level at the Dirección General de Rentas (DGR), in the City of Buenos Aires.
xii). Registration with the Unified System for Labor Registration (USLR).
xiii) Contraction of insurance for employees with a Risk Labor Company (Aseguradora de Riesgos del Trabajo - ART).
xiv). Registration with AFJPs (Aseguradoras de Fondos de Jubilaciones y Pensiones)
xv). Rubrication of wage books in the Ministerio de Trabajo (Ministry of Labor)
Some of these latter steps are unlikely to be relevant to a small business (e.g. if it doesn’t employ staff), however the bureaucracy dictates that the relevant paperwork must still be filed. Company formation is not so much difficult as time consuming. It is estimated that on average it takes about a month to create a company, at a total cost of about US$600. If you are going to form a one I recommend that you hire a local lawyer (abogado) with experience in company formation to create it for you, as they will take care of all the details and ensure the correct procedures are followed.
This information was correct at the start of 2007 and as far as I'm aware hasn't changed, although the price quoted of US$600 will almost certainly have increaased.
I hope this helps.
Author, The Complete Guide To Real Estate Investment in Argentina, ISBN 1430303980, http://www.amazon.com/exec/obidos/ASIN/1430303980
Post Number: 8
|Posted on Wednesday, May 07, 2008 - 4:52 am: |
thank you Simon and Roberto. The information is very detailed and helpful. It sounds like it will take some effort to register, etc. but that it won't be too difficult. A month is a reasonable amount of time. I have a relative in Argentina who is a retired judge, so he should have contacts with good lawyers to help out.
Post Number: 28
|Posted on Thursday, April 29, 2010 - 6:01 am: |
Just wondering if anyone knows of a good/reasonable lawyer who could help with setting up a business as previously described. I would first like to find out from the lawyer how much they would personally charge for the job, and if setting up this business will meet my needs. If anyone knows someone, I would appreciate being put in contact with them. Thanks.
Post Number: 2
|Posted on Saturday, August 28, 2010 - 4:04 pm: |
I want to add that the CUIT you can only get after your visa and paper work has been sorted out. They don't issue this document to foreigeners on your passport. It is you working permit in Argentina. You also need your CUIT when you purchase a vehicle. It is a very important document.
Post Number: 476
|Posted on Sunday, August 29, 2010 - 9:07 am: |
You don't need a CUIT to buy a car, you can do it with an easily attainable tax document called a CDI that you get from the local AFIP office.
Post Number: 5
|Posted on Sunday, August 29, 2010 - 10:12 am: |
When I purchased a 2nd hand vehicle in BsAs 2 years ago I was asked for my CUIL.