Expand Business in Argentina
Global Upside helps businesses expand into Argentina by providing talent acquisition, human resources, accounting, payroll, tax, incorporation, and professional employer organization (PEO)/employer of record (EOR) services. Our comprehensive offerings create an end-to-end solution that helps you establish your business and optimize your operations, all while maintaining compliance with laws and regulations of Argentina.
The hiring and incorporation processes in Argentina are often complex, time-consuming, and involve numerous legal and compliance challenges. Global Upside simplifies these processes and lifts the compliance burden from your business. Our teams have the experience and expertise required to help you establish a legal entity in Argentina. We also offer PEO/EOR solutions to companies interested in hiring employees quickly, without setting up a legal entity in the country.
Argentina has enormous natural resources in agriculture and energy. Within the 2.8 million square kilometers of land, the nation is gifted with exceptional fertile lands, lithium, and gas reserves and has great capability for a sustainable power source. Argentina is a leading food producer with substantial livestock and agricultural industries. Additionally, the country has noteworthy opportunities in some industrial subsectors and ground-breaking amenities in high-tech industries.
- Argentina ranks as the 29th largest economy in the world in terms of nominal GDP.
- Argentina ranks as the 2nd largest economy in South America.
- Argentina ranks as the 3rd largest economy in Latin America
- Argentina ranks as one of the biggest exporters of soya products.
Corporation (Sociedad Anónima/ SA) is an independent and distinctive legal establishment that needs at least two investors. A SA is managed by a board of directors who are elected by the investors of the business.
Single-Shareholder Corporation (Sociedad Anónima Unipersonal/ SAU) is an independent and distinctive legal structure which, as the name suggests, needs a sole shareholder. SAUs are not permitted to be incorporated or exclusively owned and is administered by a board of directors who are elected by the sole investor of the corporation.
Simplified Corporation (Sociedad por Acciones Simplificada/ SAS) is a form of legal establishment that is unique and separate and needs at least one shareholder. This is again managed by a board of directors who must be elected by the shareholders.
Limited Liability Company (Sociedad de Responsabilidad Limitada/ SRL) is an individual and autonomous form of legal establishment that needs at least two to fifty investors. The entity is supervised by managers who have complete control of the business.
It takes approximately three months to establish a legal entity set up in Argentina,
In Argentina, the employer-employee relations are governed by the Labor Contract Law No. 20,744, also known as the LCL, the individual terms of labor contracts between employers and their employees, and collective bargaining agreements.
A written employment contract which defines the terms of the agreement has to mention the below details:
- Name and address of the employer and employee
- Statutory working hours
- Remuneration and bonuses
- Probation period
- Paid public holidays
- Working on Sundays and overtime
- Disclosure and Confidentiality of Personal Information
- Employee Protection and Anti-discrimination Rights
- Leave of absence and medical leaves
- Annual leave accrual entitlement
- Maternity leave
- Termination policy
For employees who work every month, employers must pay them monthly and the payment needs to be made within 4 days of the subsequent month.
Argentina’s Comisión Nacional de Valores (CNV) regulates that financial statements must be prepared using IFRSs.
The Agencia de Acceso a la Información Pública (AAIP) also known as the Argentinian Data protection authority intends to regulate the complete protection of personal information stored in documents, databases, records, or other technical methods for processing of data, both private and public, expected to provide data, to ensure the option to respect and protection of people and admittance to the data that is registered about them.
Anti-Bribery & Anti-Corruption Law
The Argentine Criminal Code applies to any public official including an individual who takes part in corrupt practices with public officials. The Argentine Criminal Code characterizes the offenses of corruption, domestic bribery (active, passive, and inappropriate lobbying), and transnational bribery (other local laws to consider are the Ethics on Public Office Law, the Code of Ethics of Public Office, and Public Employment Law).
1. Bribery of Public Officials
For Individuals: Principal sanctions
i) Imprisonment for 1 to 12 years.
ii) Lifetime exclusion from services.
For legal entities:
The Argentine Criminal Code has not been implemented for corporate liability for any bribery act.
2. Bribery of Private Officials
For individuals and legal entities:
The Argentine Criminal Code does not provide for a thorough description of the administration to sanction statutes of corruption in the private sector, as it does not explicitly determine private corruption.