Flexibilization in the Regulation of Foreign Companies

March 27, 2024

RESOLUTION 10/2024: The Public Registry of Commerce - Inspección General de Justicia, (hereinafter, "PRC") through the Resolution 10/2024 has relaxed regulations regarding foreign companies in Argentina. In this regard, the PRC has decided to:

• Relax the requirements for the registration of foreign companies and regarding the information that must be provided annually (Annual Report, hereinafter "AR").
• Relax the criteria for the registration of vehicle companies.
• Relax the concept of "offshore" companies and the criteria for the registration of foreign companies from non-cooperative jurisdictions for tax transparency purposes, or non-collaborative in the fight against money laundering and terrorism financing (articles 217 and 218, Resolution 7/2015).
• Allow foreign companies to request the transfer of jurisdiction from the Autonomous City of Buenos Aires to other provincial jurisdictions.
• Repeal the requirement of presenting the investment plan in the Argentine Republic for foreign companies under article 123, law 19550 (article 245, paragraph f, Resolution 7/2015).
• Implement a simplified AR that can be submitted for 5 consecutive years, for foreign companies registered under article 123 of law 19550.