This document provides the following information regarding Argentina´s investment & business legal framework:
1. The legal framework for foreign investment in Argentina; equality of treatment with domestic investors.
2. The legal structures that companies may adopt.
3. General features of the Argentine taxation system.
4. Legal framework for the hire of personnel in Argentina.
5. Framework of norms for investment incentives.
This document was produced by ProsperAr, Argentina´s Investment Development Agency.
If you need further assistance contact us at info@prosperar.gov.ar or use our website www.prosperar.gov.ar
This document was produced by ProsperAr, Argentina´s Investment Development Agency.
If you need further assistance contact us at info@prosperar.gov.ar or use our website www.prosperar.gov.ar
The document outlines draft provisions for an agreement on trade in services, investment, and e-commerce between the EU and US. It includes 7 chapters covering general provisions, investment, cross-border supply of services, temporary entry of natural persons, regulatory framework, electronic commerce, and exceptions. The key points are:
1. It seeks to progressively liberalize trade in services, investment, and e-commerce cooperation between the EU and US while maintaining the ability to regulate in the public interest.
2. It defines terms like natural/juridical persons, investments, cross-border supply of services, and establishes scope and coverage rules.
3. It includes provisions on market access and national treatment for investments
This document is a treaty between the United States and Bangladesh concerning investment protection and encouragement. It aims to promote economic cooperation by establishing rules for investments made by nationals and companies of one country in the territory of the other. Key provisions include: (1) requiring each country to provide fair and equitable treatment of investments from the other; (2) establishing rules for compensation in cases of expropriation of investments; (3) allowing for the free transfer of funds associated with investments; and (4) creating mechanisms for consultation and dispute settlement related to investments covered by the treaty.
The document discusses regulations around insider trading and price sensitive information in Bangladesh. It defines price sensitive information and insider trading, and prohibits the latter. The Securities and Exchange Commission is responsible for regulating the capital market and protecting investors. It can investigate companies, inspect records, audit intermediaries, and prohibit fraudulent practices. The document also discusses prospectuses, listing and delisting of companies, restrictions on securities dealings, and information that must be included in directors' reports. Insider trading is prohibited, and insiders are defined as those who possess non-public material information.
This document summarizes the key points of the Double Taxation Agreement between India and Bangladesh signed on May 27, 1992. It aims to avoid double taxation and prevent fiscal evasion with respect to taxes on income for the two countries. The agreement applies to individuals and companies that are residents of India or Bangladesh. It specifies the taxes covered in each country and defines terms like "resident", "permanent establishment", and assigns authority to the respective revenue boards of each country.
This document is a double taxation agreement between the UK and Bangladesh signed in 1979. Some key points:
- It aims to avoid double taxation and prevent fiscal evasion on taxes on income and capital gains.
- It covers UK taxes like income tax, corporation tax, and capital gains tax, and Bangladesh taxes like income tax and super tax.
- It defines terms like "resident of a Contracting State" and "permanent establishment" and outlines how income from different sources like business profits, dividends, interest, and royalties will be taxed.
- It includes provisions for eliminating double taxation and procedures for resolving disputes between the two countries.
The document outlines draft provisions for an agreement on trade in services, investment, and e-commerce between the EU and US. It includes 7 chapters covering general provisions, investment, cross-border supply of services, temporary entry of natural persons, regulatory framework, electronic commerce, and exceptions. The key points are:
1. It seeks to progressively liberalize trade in services, investment, and e-commerce cooperation between the EU and US while maintaining the ability to regulate in the public interest.
2. It defines terms like natural/juridical persons, investments, cross-border supply of services, and establishes scope and coverage rules.
3. It includes provisions on market access and national treatment for investments
This document is a treaty between the United States and Bangladesh concerning investment protection and encouragement. It aims to promote economic cooperation by establishing rules for investments made by nationals and companies of one country in the territory of the other. Key provisions include: (1) requiring each country to provide fair and equitable treatment of investments from the other; (2) establishing rules for compensation in cases of expropriation of investments; (3) allowing for the free transfer of funds associated with investments; and (4) creating mechanisms for consultation and dispute settlement related to investments covered by the treaty.
The document discusses regulations around insider trading and price sensitive information in Bangladesh. It defines price sensitive information and insider trading, and prohibits the latter. The Securities and Exchange Commission is responsible for regulating the capital market and protecting investors. It can investigate companies, inspect records, audit intermediaries, and prohibit fraudulent practices. The document also discusses prospectuses, listing and delisting of companies, restrictions on securities dealings, and information that must be included in directors' reports. Insider trading is prohibited, and insiders are defined as those who possess non-public material information.
This document summarizes the key points of the Double Taxation Agreement between India and Bangladesh signed on May 27, 1992. It aims to avoid double taxation and prevent fiscal evasion with respect to taxes on income for the two countries. The agreement applies to individuals and companies that are residents of India or Bangladesh. It specifies the taxes covered in each country and defines terms like "resident", "permanent establishment", and assigns authority to the respective revenue boards of each country.
This document is a double taxation agreement between the UK and Bangladesh signed in 1979. Some key points:
- It aims to avoid double taxation and prevent fiscal evasion on taxes on income and capital gains.
- It covers UK taxes like income tax, corporation tax, and capital gains tax, and Bangladesh taxes like income tax and super tax.
- It defines terms like "resident of a Contracting State" and "permanent establishment" and outlines how income from different sources like business profits, dividends, interest, and royalties will be taxed.
- It includes provisions for eliminating double taxation and procedures for resolving disputes between the two countries.
This document is Vietnam's Law on Foreign Investment, which aims to expand economic cooperation with foreign countries and modernize Vietnam's economy. It establishes the legal framework for foreign direct investment in Vietnam. Key points:
- It encourages foreign investment that respects Vietnam's independence and laws, and benefits both sides. Vietnam will protect investors' capital and legal rights.
- It defines terms like foreign investor, joint venture, business cooperation contract, capital contribution, and reinvestment.
- It allows three main forms of foreign investment: business cooperation, joint ventures, and 100% foreign-owned enterprises.
- It guarantees foreign investors will be treated fairly and their property protected from expropriation. Investors can
Chapter 2: How to Invest and Exchange Foreign Currency in ColombiaTatiana Behar Russy
The document discusses foreign investment protections and registration procedures in Colombia. It provides details on four principles that protect foreign investments: equal treatment, universality, automaticity, and stability. It then outlines the process for registering direct foreign investments, which includes registering through an exchange market intermediary or compensation account and using various forms. The document also notes the exchange rights granted to foreign investors after proper registration of their investments.
This document discusses various laws related to real estate transactions in India. It outlines 16 key acts that govern this area like the Indian Contract Act 1872, Transfer of Property Act 1882, Registration Act 1908, Urban Land Ceiling Act 1976, Land Acquisition Act 1894, and Income Tax Act 1961. These acts cover aspects like contract enforcement, property transfer rules, registration formalities, land ownership ceilings, land acquisition for government projects, and taxation. Real estate transactions must comply with the relevant provisions of these central and state laws.
The document discusses the regulatory environments and investment laws pertaining to foreign investment in five Middle Eastern countries: Saudi Arabia, United Arab Emirates, Qatar, Bahrain, and Oman. It outlines the key sectors covered by each country's investment laws, incentives offered, and regulatory authorities. While progress has been made in liberalizing foreign investment, some restrictions still exist around foreign ownership percentages and employment of foreign citizens.
Acquisition & Transfer of Immovable Property by NRI /OCI FEMA & Income Tax Im...DVSResearchFoundatio
OBJECTIVE:
Get a comprehensive understanding of the income tax implications on Joint Developments Agreements under the provisions of Income Tax Act. Further dwell upon the rules pertaining to FDI on Real Estate Sector under FEMA.
This document provides an overview of the Israeli tax system and tax benefits available for foreign residents. It discusses key aspects of the Israeli tax system including determining tax residency, tax rates, and international tax rules. It also outlines several tax benefits for foreign residents such as exemptions from capital gains tax, investment income tax, and participation in programs under the Law for Encouragement of Capital Investment.
Amendments in Budget 2015 in FEMA, FEMA amendments in BUDGET, Budget 2015 FEMA Amendments, FEMA amendments, Impact of change of capital account transactions, Budget 2015 FEMA, FEMA Budget 2015
This document discusses tax exemptions and reliefs for returning residents and new residents to Israel. It provides definitions for regular returning residents, long-term returning residents, and new residents. It summarizes the key exemptions and reliefs for long-term returning residents and new residents, including a 10-year exemption on income from outside Israel, not having to report foreign assets or income, and exemptions applying to new activities outside Israel. It also compares the exemptions for regular versus long-term returning residents. The document discusses two recent court cases that impacted the interpretation of residency and implications for splitting the family unit. It concludes with information on taxations that may apply to Israeli beneficiary trusts depending on the settlor's alive
Lawyer in Vietnam Oliver Massmann Legal Update December 2015Dr. Oliver Massmann
Decree No. 99 provides guidelines for implementing Vietnam's Law on Residential Housing, including regulations around house ownership for foreigners and domestic individuals/organizations. Decree No. 118 provides guidelines for Vietnam's Law on Investment 2014, addressing foreign investment in domestic enterprises without investment registration and allowing some non-WTO members investment incentives. Decree No. 108 details excise tax regulations, removing taxes on some goods from January 2016 and allowing import tax deductions. Decree No. 114 amends regulations for export processing zones and enterprises. Decree No. 115 provides social insurance guidelines, expanding salary definitions for contribution calculations from 2018. Decree No. 122 increases regional minimum wages for 2016.
This document provides the text of Vietnam's Commercial Law. Some key points:
- It governs commercial activities conducted within and outside of Vietnam's territory.
- Applicable entities include business entities, organizations, individuals involved in commerce.
- It defines commercial activity and terms like goods, services, contracts, and intermediaries.
- International treaties may take precedence if inconsistent provisions conflict with the law.
- Parties have the right to freely agree to commercial terms not contradicting law or ethics.
Protection to Foreign Investment in ColombiaProColombia
The document summarizes key aspects of Colombia's legal framework for protecting foreign direct investment (FDI). It outlines four principles that Colombia's domestic law is based on: equal treatment, universality, automaticity, and stability. It also discusses international investment agreements and double taxation agreements that Colombia has signed to promote a favorable investment environment for foreign investors.
Lawyer in Vietnam Dr. Oliver Massmann - DOING BUSINESS IN VIETNAM - What in-h...Dr. Oliver Massmann
The document provides an overview of doing business in Vietnam presented by Dr. Oliver Massmann of Duane Morris Vietnam LLC. It discusses Vietnam's strong economic growth, integration into regional trade agreements, attractive investment environment including tax incentives, and labor market. Specific topics covered include Vietnam's GDP, exports, free trade agreements like CPTPP and EVFTA, sectors seeing foreign investment, procedures for investment and M&A, and taxation. The presentation encourages investors to take advantage of opportunities in Vietnam.
FRISHBERG & PARTNERS (www.frishberg.com) is a law firm, based in Kiev, Ukraine since 1991. Practice areas: corporate law, due diligence, mergers and acquisitions, anti-trust, real property transactions and litigation. Experience: over 15 years of hands-on experience in Ukraine, the firm issues its annual reference guide, “Doing Business in Ukraine”. Offices: Kyiv (Ukraine). Clients: MasterCard International, GoodYear, KLM Royal Dutch Airlines, Lafarge, Tyco Electronics, Sun Microsystems, Hewlett-Packard, Fiat Auto, Philips Electronics, the Embassy of Great Britain, the Embassy of Austria, the US Embassy, the Embassy of Sweden, etc.
This document summarizes key securities laws related to raising capital under the EB-5 immigrant investor visa program. It discusses using Regulation S and Regulation D exemptions to conduct securities offerings to immigrant investors without registering with the SEC. Regulation S exempts offerings made only to non-US persons, while Regulation D exempts private placements to accredited investors. The document provides guidance on complying with the requirements of these exemptions, such as restricting securities transfers for one year under Regulation S. The goal is to assist legal counsel in addressing challenges of EB-5 securities offerings under US securities laws.
The document discusses various laws related to real estate transactions in India, including:
1. The Indian Contract Act of 1872, which governs contract law.
2. The Transfer of Property Act of 1882, which lays out principles for transferring property through sale, lease, etc.
3. The Registration Act of 1908, which deals with registering documents to prevent fraud and conserve evidence of titles.
It also briefly mentions other relevant laws like the Income Tax Act of 1961, Wealth Tax Act of 1957, laws governing urban planning, and those administered by the Ministry of Urban Development.
NRIs, PIOs, and foreigners are liable to pay various taxes in India related to immovable property, including property tax, income tax, service tax, capital gains tax, and wealth tax. The rates and exemptions for these taxes vary depending on residential status. Income from renting property is taxed, and capital gains are also taxed on the sale of property. Tax treaties exist to avoid double taxation for those residing in countries with which India has agreements.
This document summarizes the Foreign Contribution (Regulation) Act of 1976 in India, which regulates the acceptance and use of foreign contributions by certain individuals and organizations.
The key points are:
1) It establishes rules for accepting foreign contributions and hospitality by political candidates, government employees, members of legislatures, and political parties.
2) Other organizations and individuals must register with the government and receive contributions only through specified bank accounts to accept foreign funds.
3) Recipients of foreign scholarships or payments above a certain amount must notify the government.
4) The act aims to ensure these entities function in a way consistent with India's sovereignty and democratic values.
This document is an agreement between the governments of Myanmar and Israel to promote and protect investments between the two countries. It defines key terms like "investment", "host country", "home country", and "investor". It establishes that each country will encourage favorable conditions for investments from the other and ensure fair treatment. Investments are guaranteed most-favored nation treatment and national treatment. The agreement also covers compensation for losses due to armed conflict, expropriation of property, and free transfer of investments and returns.
This document provides an overview and introduction to the Foreign Exchange Management Act (FEMA) presented by Mr. Paresh P. Shah.
It begins with an overview of FEMA, including its objectives to facilitate external trade and payments and promote an orderly foreign exchange market. It discusses key sections of FEMA and amendments made by the Finance Act of 2015. It then defines important terms under FEMA such as capital account transactions, current account transactions, resident in India, and resident outside India.
The document also summarizes the fundamentals of FEMA, including that foreign exchange belongs to the Government of India except with permission, and that dealing in foreign exchange by residents in India and outside India is regulated. It highlights sections
What are the 6 key questions to consider regarding expatriate law in Latin America? Our Latin American member firms have provided this handy overview for you.
Originally posted on the Ius Laboris Knowledge Base: www.globalhrlaw.com
Vietnam Investment Law
67/2014/QH14
In 2015, Vietnamese government has enacted the revised investment law, and it newly presents a list of conditionally opened business sectors.
Agreement between the government of australia and the government of the repub...Parth Purohit
The document is an agreement between the governments of Australia and India to promote and protect investments between the two countries. It outlines 17 articles that define key terms, scope of coverage, protections for investments and investors, provisions around expropriation and compensation, repatriation of funds, and dispute resolution mechanisms. The overall aim is to encourage bilateral investment flows by providing a stable, equitable and transparent legal framework.
This document is Vietnam's Law on Foreign Investment, which aims to expand economic cooperation with foreign countries and modernize Vietnam's economy. It establishes the legal framework for foreign direct investment in Vietnam. Key points:
- It encourages foreign investment that respects Vietnam's independence and laws, and benefits both sides. Vietnam will protect investors' capital and legal rights.
- It defines terms like foreign investor, joint venture, business cooperation contract, capital contribution, and reinvestment.
- It allows three main forms of foreign investment: business cooperation, joint ventures, and 100% foreign-owned enterprises.
- It guarantees foreign investors will be treated fairly and their property protected from expropriation. Investors can
Chapter 2: How to Invest and Exchange Foreign Currency in ColombiaTatiana Behar Russy
The document discusses foreign investment protections and registration procedures in Colombia. It provides details on four principles that protect foreign investments: equal treatment, universality, automaticity, and stability. It then outlines the process for registering direct foreign investments, which includes registering through an exchange market intermediary or compensation account and using various forms. The document also notes the exchange rights granted to foreign investors after proper registration of their investments.
This document discusses various laws related to real estate transactions in India. It outlines 16 key acts that govern this area like the Indian Contract Act 1872, Transfer of Property Act 1882, Registration Act 1908, Urban Land Ceiling Act 1976, Land Acquisition Act 1894, and Income Tax Act 1961. These acts cover aspects like contract enforcement, property transfer rules, registration formalities, land ownership ceilings, land acquisition for government projects, and taxation. Real estate transactions must comply with the relevant provisions of these central and state laws.
The document discusses the regulatory environments and investment laws pertaining to foreign investment in five Middle Eastern countries: Saudi Arabia, United Arab Emirates, Qatar, Bahrain, and Oman. It outlines the key sectors covered by each country's investment laws, incentives offered, and regulatory authorities. While progress has been made in liberalizing foreign investment, some restrictions still exist around foreign ownership percentages and employment of foreign citizens.
Acquisition & Transfer of Immovable Property by NRI /OCI FEMA & Income Tax Im...DVSResearchFoundatio
OBJECTIVE:
Get a comprehensive understanding of the income tax implications on Joint Developments Agreements under the provisions of Income Tax Act. Further dwell upon the rules pertaining to FDI on Real Estate Sector under FEMA.
This document provides an overview of the Israeli tax system and tax benefits available for foreign residents. It discusses key aspects of the Israeli tax system including determining tax residency, tax rates, and international tax rules. It also outlines several tax benefits for foreign residents such as exemptions from capital gains tax, investment income tax, and participation in programs under the Law for Encouragement of Capital Investment.
Amendments in Budget 2015 in FEMA, FEMA amendments in BUDGET, Budget 2015 FEMA Amendments, FEMA amendments, Impact of change of capital account transactions, Budget 2015 FEMA, FEMA Budget 2015
This document discusses tax exemptions and reliefs for returning residents and new residents to Israel. It provides definitions for regular returning residents, long-term returning residents, and new residents. It summarizes the key exemptions and reliefs for long-term returning residents and new residents, including a 10-year exemption on income from outside Israel, not having to report foreign assets or income, and exemptions applying to new activities outside Israel. It also compares the exemptions for regular versus long-term returning residents. The document discusses two recent court cases that impacted the interpretation of residency and implications for splitting the family unit. It concludes with information on taxations that may apply to Israeli beneficiary trusts depending on the settlor's alive
Lawyer in Vietnam Oliver Massmann Legal Update December 2015Dr. Oliver Massmann
Decree No. 99 provides guidelines for implementing Vietnam's Law on Residential Housing, including regulations around house ownership for foreigners and domestic individuals/organizations. Decree No. 118 provides guidelines for Vietnam's Law on Investment 2014, addressing foreign investment in domestic enterprises without investment registration and allowing some non-WTO members investment incentives. Decree No. 108 details excise tax regulations, removing taxes on some goods from January 2016 and allowing import tax deductions. Decree No. 114 amends regulations for export processing zones and enterprises. Decree No. 115 provides social insurance guidelines, expanding salary definitions for contribution calculations from 2018. Decree No. 122 increases regional minimum wages for 2016.
This document provides the text of Vietnam's Commercial Law. Some key points:
- It governs commercial activities conducted within and outside of Vietnam's territory.
- Applicable entities include business entities, organizations, individuals involved in commerce.
- It defines commercial activity and terms like goods, services, contracts, and intermediaries.
- International treaties may take precedence if inconsistent provisions conflict with the law.
- Parties have the right to freely agree to commercial terms not contradicting law or ethics.
Protection to Foreign Investment in ColombiaProColombia
The document summarizes key aspects of Colombia's legal framework for protecting foreign direct investment (FDI). It outlines four principles that Colombia's domestic law is based on: equal treatment, universality, automaticity, and stability. It also discusses international investment agreements and double taxation agreements that Colombia has signed to promote a favorable investment environment for foreign investors.
Lawyer in Vietnam Dr. Oliver Massmann - DOING BUSINESS IN VIETNAM - What in-h...Dr. Oliver Massmann
The document provides an overview of doing business in Vietnam presented by Dr. Oliver Massmann of Duane Morris Vietnam LLC. It discusses Vietnam's strong economic growth, integration into regional trade agreements, attractive investment environment including tax incentives, and labor market. Specific topics covered include Vietnam's GDP, exports, free trade agreements like CPTPP and EVFTA, sectors seeing foreign investment, procedures for investment and M&A, and taxation. The presentation encourages investors to take advantage of opportunities in Vietnam.
FRISHBERG & PARTNERS (www.frishberg.com) is a law firm, based in Kiev, Ukraine since 1991. Practice areas: corporate law, due diligence, mergers and acquisitions, anti-trust, real property transactions and litigation. Experience: over 15 years of hands-on experience in Ukraine, the firm issues its annual reference guide, “Doing Business in Ukraine”. Offices: Kyiv (Ukraine). Clients: MasterCard International, GoodYear, KLM Royal Dutch Airlines, Lafarge, Tyco Electronics, Sun Microsystems, Hewlett-Packard, Fiat Auto, Philips Electronics, the Embassy of Great Britain, the Embassy of Austria, the US Embassy, the Embassy of Sweden, etc.
This document summarizes key securities laws related to raising capital under the EB-5 immigrant investor visa program. It discusses using Regulation S and Regulation D exemptions to conduct securities offerings to immigrant investors without registering with the SEC. Regulation S exempts offerings made only to non-US persons, while Regulation D exempts private placements to accredited investors. The document provides guidance on complying with the requirements of these exemptions, such as restricting securities transfers for one year under Regulation S. The goal is to assist legal counsel in addressing challenges of EB-5 securities offerings under US securities laws.
The document discusses various laws related to real estate transactions in India, including:
1. The Indian Contract Act of 1872, which governs contract law.
2. The Transfer of Property Act of 1882, which lays out principles for transferring property through sale, lease, etc.
3. The Registration Act of 1908, which deals with registering documents to prevent fraud and conserve evidence of titles.
It also briefly mentions other relevant laws like the Income Tax Act of 1961, Wealth Tax Act of 1957, laws governing urban planning, and those administered by the Ministry of Urban Development.
NRIs, PIOs, and foreigners are liable to pay various taxes in India related to immovable property, including property tax, income tax, service tax, capital gains tax, and wealth tax. The rates and exemptions for these taxes vary depending on residential status. Income from renting property is taxed, and capital gains are also taxed on the sale of property. Tax treaties exist to avoid double taxation for those residing in countries with which India has agreements.
This document summarizes the Foreign Contribution (Regulation) Act of 1976 in India, which regulates the acceptance and use of foreign contributions by certain individuals and organizations.
The key points are:
1) It establishes rules for accepting foreign contributions and hospitality by political candidates, government employees, members of legislatures, and political parties.
2) Other organizations and individuals must register with the government and receive contributions only through specified bank accounts to accept foreign funds.
3) Recipients of foreign scholarships or payments above a certain amount must notify the government.
4) The act aims to ensure these entities function in a way consistent with India's sovereignty and democratic values.
This document is an agreement between the governments of Myanmar and Israel to promote and protect investments between the two countries. It defines key terms like "investment", "host country", "home country", and "investor". It establishes that each country will encourage favorable conditions for investments from the other and ensure fair treatment. Investments are guaranteed most-favored nation treatment and national treatment. The agreement also covers compensation for losses due to armed conflict, expropriation of property, and free transfer of investments and returns.
This document provides an overview and introduction to the Foreign Exchange Management Act (FEMA) presented by Mr. Paresh P. Shah.
It begins with an overview of FEMA, including its objectives to facilitate external trade and payments and promote an orderly foreign exchange market. It discusses key sections of FEMA and amendments made by the Finance Act of 2015. It then defines important terms under FEMA such as capital account transactions, current account transactions, resident in India, and resident outside India.
The document also summarizes the fundamentals of FEMA, including that foreign exchange belongs to the Government of India except with permission, and that dealing in foreign exchange by residents in India and outside India is regulated. It highlights sections
What are the 6 key questions to consider regarding expatriate law in Latin America? Our Latin American member firms have provided this handy overview for you.
Originally posted on the Ius Laboris Knowledge Base: www.globalhrlaw.com
Vietnam Investment Law
67/2014/QH14
In 2015, Vietnamese government has enacted the revised investment law, and it newly presents a list of conditionally opened business sectors.
Agreement between the government of australia and the government of the repub...Parth Purohit
The document is an agreement between the governments of Australia and India to promote and protect investments between the two countries. It outlines 17 articles that define key terms, scope of coverage, protections for investments and investors, provisions around expropriation and compensation, repatriation of funds, and dispute resolution mechanisms. The overall aim is to encourage bilateral investment flows by providing a stable, equitable and transparent legal framework.
An Introduction to Law of Investment in Indonesia such as background of investment, history of investment, related prevailing law of investment, scope of investment, business field, treatment of investment, and related institution such as United Nations Conference on Trade and Development (UNCTAD) and Indonesia Coordinating Board (Badan Koordinasi Penanaman Modal - BKPM)
The document summarizes the process and requirements for purchasing real estate and establishing a business in Costa Rica's free trade zones. Key points include:
- Costa Rican law provides equal property rights to citizens and foreigners.
- Due diligence on property titles is required, including a complete title search and verification of encumbrances.
- Establishing a business in a free trade zone provides tax incentives but requires minimum investments and export focus. The application process takes about two months.
- Ongoing obligations for free zone businesses include record keeping, reporting, environmental compliance, and maintaining the business's export focus.
Normative Considerations for Foreigners of Land Ownership: Advancing Legal Fa...AHRP Law Firm
The document summarizes land ownership laws and regulations in Indonesia for foreigners. It discusses how the principle of nationality prohibits foreign ownership but allows certain land rights through derivatives. It also examines the legal issues with nominee agreements used to circumvent restrictions. The document proposes that foreigners pursue permitted land rights through investment schemes instead of illegal evasion. It concludes by recommending that notaries refuse nominee agreements and provide lawful alternatives to interested foreigners.
Republic Act 7042, also known as the Foreign Investments Act of 1991, is the primary law governing foreign investment in the Philippines. It liberalized foreign investment and opened most economic sectors to full foreign ownership, with the exception of those appearing on a Foreign Investment Negative List. The law defines foreign investment and investors, sets investment policies, and establishes the registration process for foreign-owned enterprises. It aims to promote investments that boost the economy, create jobs, and transfer technology, while gradually increasing Filipino participation in foreign-owned companies. The Securities and Exchange Commission, Board of Investments, and Bureau of Trade Regulation oversee compliance with the Foreign Investments Act.
This document provides a summary of Colombia's legal framework for foreign investment. Some key points:
- Colombia aims to attract foreign investment through a clear and efficient regulatory framework in line with international standards. Foreign investment is protected by the constitution and international agreements.
- Foreign investment is permitted in most sectors and does not require prior authorization in most cases. It must be registered with the Central Bank for statistical purposes.
- Colombia has signed numerous bilateral investment treaties and free trade agreements with investment chapters to establish standards protecting foreign investors. It also has double taxation agreements to avoid double taxation.
- The legal framework is based on principles of equal treatment, universality, no prior authorization, and flexibility in investment and capital
This document provides a summary of Colombia's legal framework for foreign direct investment (FDI). It outlines that Colombia's constitution grants equal treatment to foreign and domestic investment, and that FDI is allowed in most sectors. It also discusses Colombia's international investment agreements and double taxation agreements, which are aimed at protecting foreign investors and incentivizing FDI. The main principles of Colombia's FDI regime are equal treatment, universality, no prior authorization requirement, and flexibility in investment decisions.
This document provides a summary of Colombia's legal framework for foreign direct investment (FDI). It outlines that Colombia's constitution grants equal treatment to foreign and domestic investment, and that FDI is allowed in most sectors. It also discusses Colombia's international investment agreements and double taxation agreements, which are designed to promote and protect international investments. The main principles of Colombia's FDI regime are equal treatment, universality, no prior authorization requirement, and flexibility in investment decisions.
Colombia has a stable corporate legal framework that allows for flexible incorporation of investment vehicles like subsidiaries and branches. Foreign investors do not need a local partner to operate in Colombia and can fully own corporate entities as long as investments are properly registered. Incorporating a legal entity is generally simple and does not require prior government approval, except for certain regulated industries.
The document summarizes key aspects of the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 in India. It discusses (1) the background and objectives of the bill which are to tax undisclosed foreign income and assets and punish those generating illegitimate money, (2) key features of the bill including penalties for concealment of foreign income/assets and criminal liability for tax evasion, and (3) important definitions related to the bill such as "resident", "undisclosed foreign income and asset", and rules around computing total undisclosed income and disallowing expenses/losses against such income.
The document summarizes key points of China's foreign investment law:
1. The law now allows Chinese natural persons to invest in sino-foreign joint ventures, changing a past rule.
2. It defines forms of permitted foreign investment as direct investment, mergers and acquisitions, investment in new projects, and other approved forms.
3. Foreign investors receive pre-entry national treatment and are subject only to rules on a negative investment list, with equal treatment for non-listed investments.
4. The law provides protections for foreign investment such as national treatment, intellectual property protections, business secret protections, and ensuring policy commitments are upheld.
This document is a legal guide for doing business in Colombia that was prepared in March 2019. It provides an introduction to Colombia's economy and legal system. The guide contains 12 chapters that cover various aspects of Colombian law relevant for foreign investors, such as foreign investment, trade, taxes, intellectual property, real estate, and more. It emphasizes that Colombia protects private property and foreigners have equal rights regarding real estate transactions. It also provides guidance on performing due diligence when acquiring real estate in Colombia.
This document summarizes Cambodia's Law on Investment from 1994. It establishes the Council for the Development of Cambodia as the sole agency responsible for overseeing investment projects in Cambodia. It outlines investment procedures, guarantees, incentives and tax benefits to encourage investment. Key incentives include corporate tax exemptions, import duty exemptions, land lease rights, and permission to hire foreign employees. It also establishes procedures for resolving disputes and dissolving investment projects in Cambodia in accordance with Cambodian law.
Foreign Investment is an important activity in order to improve economic growth and
prosperity of society. It needs to be supported with legal instruments that can guarantee
and protect the investments. The formation of legal instruments is strongly affected by the
economic and political interests of the country, therefore sometimes it goes against the
principle of legal certainty. By using normative jurisdictional research methods in this
study, the Author will discuss about the principles and concepts used by the government
to establish a policy on foreign investment.
This law is adopted by the National Assembly of the Kingdom of Cambodia in Phnom Penh on August 4, 1994 during the extraordinary session of the first legislature.
Phnom Penh, August 4, 1994
The Acting Chairman of the National Assembly
LOY SIM CHHEA
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Source: http://www.caminfoservices.com/cdc/law-on-the-investment_940805.html
China Proposes a New Foreign Investment Law: Does this Represent the Death of...Winston & Strawn LLP
Winston & Strawn Shanghai partners Brinton Scott and Matthew Durham led a roundtable discussion focused on the latest developments of the proposed new Foreign Investment Law in China. The draft law, if promulgated in its current form, would represent a major shift in China’s foreign investment regime. This presentation featured a discussion of the following hot button issues:
• Unification of Foreign Investment Laws
• Negative List Replacing the Catalogue
• Foreign Control Through a VIE Structure Will be Treated the Same as a Foreign Direct Investment
1 1 - 1-4 introduction of foreign investment law system in chinaApeng Shang
This document summarizes the key aspects of foreign investment law in China covered in the first four chapters of the book "Fashion Law in China". It outlines the main laws and regulations governing foreign investment, protections available to foreign investors, and compliance rules foreign investors must follow. The system establishes a framework for foreign investment including national treatment, pre-entry national treatment, restrictions in a "negative list", and protections for intellectual property, business secrets, profits, and policy commitments. Compliance with laws around reporting, labor, antitrust, and other areas is also required.
This document provides an overview of establishing and maintaining a Wholly Foreign-Owned Enterprise (WFOE) in China. It discusses the regulatory framework, legal status, capital requirements, feasibility study process, allowed business scopes, and procedures for setting up a WFOE. It also outlines the requirements for maintaining a WFOE, including annual audits, examinations, and tax compliance. The document serves as a guide for foreign investors on the process and ongoing obligations of operating a wholly foreign-owned subsidiary in China.
Similar to Argentina Business Legal Framework - August 2009 (20)
El documento resume las actividades y logros del INCAA (Instituto Nacional de Cine y Artes Audiovisuales de Argentina) entre 2008 y 2011, incluyendo 154 películas y varios cortometrajes y documentales producidos en 2010, el lanzamiento del canal INCAAtv, el aumento de la participación del cine argentino en festivales internacionales, el fortalecimiento de la distribución internacional, la creación del mercado Ventana Sur, nuevos acuerdos de coproducción y fondos, y el trabajo de la ENERC y CINAIN para preservar el
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2. Legal Framework
ProsperAr offers a one stop shop in Argentina
for both domestic and foreign investors.
The Agency’s objective is to provide the technical
assistance required to facilitate and increase the level of
investment in Argentina. The Agency accordingly provides
potential investors with personalized professional services
at all stages of the investment process, from the initial
project evaluation to the post-investment phase.
The assistance provided includes comprehensive, trustworthy
and up-to-date information to make the investment decision-
making process easier. The Agency’s experts help to overcome
specific difficulties either directly or through contacts
in the competent government bodies, while the Agency
actively encourages associations between local and foreign
businesses to enhance the benefits of investing in Argentina.
This document provides the following information
in relation to the services provided:
1. The legal framework for foreign investment in Argentina;
equality of treatment with domestic investors.
2. The legal structures that companies may adopt.
3. General features of the Argentine taxation system.
4. Legal framework for the hire of personnel in Argentina.
5. Framework of norms for investment incentives.
3. Legal framework for foreign investment in argentina: equality
of treatment with national investors
Law 21.382
Introduction
In the Argentine Republic, foreign investors and investments are amply protected by the law, supported
by a package of national and international measures which place this country in pole position as an
attractive destination for foreign investors and investment.
The Argentine Constitution offers foreigners equal treatment as from its Preamble and recognizes that
non-nationals enjoy the same rights as nationals in Section 20.
Section. 20: Foreigners enjoy within the territory of the Nation all the civil rights of citizens; they
may exercise their industry, trade and profession; own real property, buy and sell it; navigate the
rivers and coasts; practice freely their religion; make wills and marry under the laws. They are
not obliged to accept citizenship nor to pay extraordinary compulsory taxes. They may obtain
naturalization papers residing two uninterrupted years in the Nation; but the authorities may shorten
this term in favor of those so requesting it, alleging and proving services rendered to the Republic.
a) Law on Foreign Investment
The Foreign Investment Law1 defines the legal framework regulating foreign investment 2.
This law covers the different ways in which foreign investors may invest capital in Argentina for the
purposes of carrying out established activities—in the industrial, mining, agricultural, trade, and
financial sectors of the economy, whether directly in the area of services or in other areas related to
the production and exchange of goods and services—without prior approval. The Law states that such
investors shall enjoy the same rights and be subject to the same obligations as defined for domestic
investors by the Argentine Constitution and Laws. The legislation regulating foreign investment
establishes certain definitions for this purpose.
• Foreign capital investment:
All capital contributions issuing from foreign investors applied to activities of an economic nature
undertaken in the country and/or the acquisition of shares in the capital of an existing domestic
company, on behalf of foreign investors.
• Foreign investor:
All individuals or legal entities domiciled outside national territory that make an investment
of foreign capital and domestic companies of foreign capital, when these invest in domestic
companies.
• Domestic company of foreign capital:
Any company domiciled within the territory of the Argentine Republic where individuals or legal
entities domiciled outside its borders directly or indirectly own over 49% of the capital or directly
or indirectly have the number of votes required to control shareholder or partner meetings.
• Domestic company of domestic capital:
1. law # 21.82
All companies domiciled within the territory of the Argentine Republic where individuals or legal
2. text to be found in Annexe 1
of Decree 185/9 -
entities also domiciled in this country directly or indirectly own no less than 51% of the capital and
http://www.infoleg.gov.ar directly or indirectly have the number of votes required to control shareholder or partner meetings.
A r g e N t I N A’ s N At I o N A l I N v e s t m e N t D e v e l o p m e N t Ag e N c y - L e g a L F r a m e w o r k F o r I n v e s t m e n t s I n a r g e n t I n a
4. rights of foreign investors
• Foreign investors may remit abroad liquid profits arising as a return on their investment as well as
repatriate their investment.
• They may avail themselves of any of the legal forms of incorporation foreseen by Argentine
legislation.
• They may make use of domestic credits and loans with the same rights and under the same
conditions as domestic companies of domestic capital.
ways in which foreign investments can be effected
• Convertible foreign currency.
• Capital goods, spare parts and accessories.
• Capital or utilities in domestic currency belonging to foreign investors as and when this may meet
the legal requirements for transfer abroad.
• Capitalization of foreign loans in foreign convertible currency.
• Intangible assets, according to specific legislation.
• Other forms of contributions contemplated in specific or promotional regimes.
The Foreign Investment Law also provides for the treatment of provisional contributions and of the
relationship between controlling and controlled companies.
Provisional contributions (exception). Provisional foreign capital contributions made for the purposes
of implementing lease contracts for goods, works or services or others, are not covered by this Law
and shall be governed by the terms of the individual partnership agreements applicable according to
the legal requirements given. Nonetheless, the owners of these contributions may opt to make their
investment within the terms of the Law.
the relationship between controlled and controlling companies. Legal agreements celebrated
between a domestic company of foreign capital and the company directly or indirectly controlling
it shall be considered to all effects as celebrated between independent parties as and when their
stipulations and conditions are in line with common practices in the market by independent entities.
B) International negotiations related to investments
Argentina plays an active role in international negotiations concerning the environment for regional,
bilateral and multilateral investment in order to improve the investment climate at local level.
• regional scope: Argentina has underwritten a series of regional economic agreements which
offer foreign investors an outstanding platform from which to expand the scope of access to Latin
American markets for their products.
One of the most important of these agreements is the Treaty of Asunción (Tratado de Asunción) of
March 26, 1991 which established the MERCOSUR. The Treaty is enshrined in the framework of the
Latin American Integration Association (Asociación Latinoamericana de Integración - ALADI) as a
Partial Scope Economic Complementation Agreement.
MERCOSUR includes Argentina, Brazil, Paraguay, and Uruguay. Bolivia and Chile are Associate Members
of the MERCOSUR.
A r g e N t I N A’ s N At I o N A l I N v e s t m e N t D e v e l o p m e N t Ag e N c y - L e g a L F r a m e w o r k F o r I n v e s t m e n t s I n a r g e n t I n a
5. This process of regional economic integrations benefits and enhances foreign investments made in
Argentina as they thus have an unbeatable access to these markets. Similar agreements have been
signed with Colombia, Ecuador, Venezuela and Peru as well as Mexico.
Outside the ALADI, Argentina as a Member State of the MERCOSUR has signed fixed trade preference
agreements with the Republic of India and with South Africa, subsequently extended to include
the Southern African Customs Union. It has also underwritten framework agreements with Egypt,
Morocco, Israel, the Gulf Cooperation Council (Saudi Arabia, Bahrain, the UAE, Kuwait, Oman and
Qatar) and Pakistan.
• Bilateral scope: Argentina has 54 Bilateral Investment Promotion and Protection Agreements with
different countries which provide foreign investors and investment with ample protection. (See
Annex I).
• multilateral scope: Argentina has been a member of the World Trade Organization (WTO) since
it was created in 1995 and an observer of the Investment Committee of the OECD since 1996.
This country is thus a member of the Multilateral Investment Guarantee Agency (MIGA), whose
objective is to mitigate the risks of investment and provide advice and information on investment
opportunities in emerging economies.
C) exceptions to the exchange control regime concerning the inflow of foreign
currencies for the purposes of Foreign Direct Investment (FDI)
The inflow of foreign currencies for FDI in the Argentine Republic is exempt from the exchange control
regime.
The Central Bank of the Argentine Republic regulations exempts from its control those imports of
foreign exchange to be used for: (i) contributions required for direct investments in the country, or (ii)
the purchase of stock in domestic companies by direct investors.
The following operations are therefore exempt from controls:
1. The inflows of funds from non-residents for the purpose of the purchase of real estate, under certain
conditions.
2. Income arising from loans taken out with multilateral and bilateral credit organizations as well as
official credit agencies.
3. Income arising from foreign financial loans within the non-financial private sector, aimed at
investment in non-financial assets or training for micro-enterprises and/or improvements to be made
in residences and family homes, inasmuch as such loans are incurred and repaid over a period of no
less than two years, including capital and interest repayments.
4. All inflows of foreign currencies either aimed at, or originating in, the primary underwriting of stock
certificates, bonds or debt papers issued by trust funds whose purpose is to develop infrastructure
works in the energy sector and whose underlying assets are wholly or partially made up of the
specific remits provided for by Law Nº 26.095, as long as these are paid off or covered wholly or
partially over periods of no less than 365 consecutive days, irrespective of the method of payment.
A r g e N t I N A’ s N At I o N A l I N v e s t m e N t D e v e l o p m e N t Ag e N c y - L e g a L F r a m e w o r k F o r I n v e s t m e n t s I n a r g e n t I n a 5
6. 2. Legal structures that companies may adopt
Introduction
The main legal forms of business that foreign investors may establish when installing themselves in
Argentina with any degree of permanence include setting up an overseas Branch, the acquisition of
stock in an existing company or the creation of a new one.
a) overseas branches
A Branch is effectively the same company which opens an office in the country. It is not necessary
to create a new legal entity. It should be noted that the Branch answers in terms of assets to the
total value of the capital owned by company’s Head Office (HO) and not to the value of the branch in
Argentina as assigned by HO.
The branches of foreign companies are required to register their presence. They may undertake all the
activities pursued by HO, in the name of HO and through the person designated as its representative.
The branch must be managed by a legal representative with administrative powers which may be
limited according to circumstances. However, as said earlier, HO is responsible for all the Branch’s
liabilities. Its administrative authority should be sufficiently broad-based to allow for transactions with
financial institutions and other local suppliers to be carried out efficiently.
The branches are subject to on-going control on behalf of the stockholder control organization and
must comply with the same requirements as incorporated business companies. Their accounting must be
managed separately from HO and they must periodically present their financial statements to this entity.
registering Branches
For a Branch to operate legally, the following is required:
1. A certificate testifying to the length of time the company has been operational in the country of
origin and that it is not in liquidation or involved in any legal process that implies a restriction on its
goods and/or activities.
If the legal system of the country where the company is registered does not make official provision
for issuing this certificate, it may be replaced by a report signed to this effect by an attorney or
notary originally from the country where this situation occurs.
2. Foreign documentation including:
a) The partnership agreement or company statutes and any amendments.
b) The resolution adopted by the registered body which resolved to create the branch, affiliate or
permanent representation in the Argentine Republic.
c) The date of the close of the company’s financial year.
d) Its registered office in the City of Buenos Aires, with the exact address (and the representative
must have power of attorney for this purpose).
e) The capital assigned to it, if this is the case.
f) The designation of the representative, which must be an individual.
A r g e N t I N A’ s N At I o N A l I N v e s t m e N t D e v e l o p m e N t Ag e N c y - L e g a L F r a m e w o r k F o r I n v e s t m e n t s I n a r g e n t I n a
7. 3. Foreign documentation signed by one of company’s executives (who must provide proof of said
faculties before a public notary or official) stating that:
a) There are no restrictions or prohibitions in the place where the company was incorporated which
hinder or prevent it carrying out all of its activities, or its main activity / activities.
b) It possesses, outside the Argentine Republic.
• One or more operational agencies, branches or representations, and/or
• Non-current fixed assets or exploitation rights for third-party assets of this nature, and/or
• Stock in other companies not subject to takeover bids, and/or
• The practice of transacting investment operations in stock markets as foreseen in its statutes.
c) The individualization of the partners at the time the decision to apply for registration was taken.
4. Original proof of the publication of the edict, when applied to a stockholding company of limited
liability or of a form unrecognized by Argentine law, including:
a) Concerning the branch, affiliate or representation, its registered offices, capital assigned if
relevant and the date of the close of its financial year.
b) As regards the representative, his/her personal data, legal address, term of representation if
relevant, limits to his/her authority, in each case if more than one representative is designated.
c) As regards a foreign company, the data foreseen in Article 10 of Law 19.550 in relation to its
statutes and amendments. (See 4. Publication of Edicts).
5. A document signed by the representative designated certified by public notary or personally ratified
prior to registration in which said representative must:
a) Provide personal data.
b) Establish the registered offices if so authorized.
c) Establish a fixed place of business within the radius of the City of Buenos Aires.
B) Creation of a new company or acquisition of shares in an existing one
The Law of Commercial Companies (LCC) contemplates a broad variety of corporate forms, amongst
which the most widely used by foreign investors in Argentina are the incorporated business company
(Sociedad Anónima – SA) and the limited liability company (Sociedad de Responsabilidad Limitada -
SRL). In these cases, unlike Branch offices, these kinds of companies are only answerable in principle for
the capital of the company incorporated or in which stock is acquired.
Unlike domestic companies, foreign undertakings which wish to set up a company or acquire stock in
an existing one must previously be able to prove that they are legally incorporated in their countries of
origin on the one hand, and register their statutes, amendments and other documentation authorizing
them to operate, as well as the documentation relating to their legal representatives, in the appropriate
Public Registry of Commerce.
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8. Incorporated Business Company (Sociedad Anónima - SA):
This format establishes that the company’s property belongs to the stockholders whose responsibilities
are limited by the contributions they make. Its incorporation requires a minimum of two stockholders.
The stock may or not be quoted on the Stock Exchange. In the case of Incorporated Business
Companies, there is no limit on the number of stockholders in the company (limited liability companies
may be partners in an incorporated business company).
The operation of these companies is regulated by their statutes. Administration is the responsibility of
a Board made up of one or more members, whether they are stockholders or not. The majority of those
sitting on the Board must be resident in the country. However, there are no limits on the residency or
nationality of the stockholders, although if these are foreign commercial companies they should be
registered at the Public Registry of Commerce.
The directors answer unanimously as one and without limits for the company, to the stockholders
and third parties for poor job performance, breaking the law, statutes or regulations, and any other
damages arising from fraud, the abuse of responsibilities or gross negligence.
Incorporated Business Companies must be registered via public deed. In the City of Buenos Aires they
must be registered with the General Inspection of Justice (Inspección General de Justicia - IGJ) and
require a minimum capital of AR$ 12.000 (twelve thousand Argentine pesos).
In Argentina incorporated business companies are subject to internal and external tax audits.
External tax audits are undertaken by the Public Registry of Commerce corresponding to the
jurisdiction. There are also special regulatory organizations for certain activities. For example,
companies which quote on the stock exchange are audited by the National Securities Commission
(Comisión Nacional de Valores - CNV), financial entities by the Central Bank of the Argentine
Republic (Banco Central de la República Argentina - BCRA); insurance companies by the Insurance
Superintendent (Superintendencia de Seguros - SSN).
Internal tax audits are usually the responsibility of one or more trustees nominated at the stockholders’
meeting. This is optional for those companies not permanently under the supervision of a government
entity. Furthermore, the Law contemplates the control of the supervisory board, a broad-based entity,
established by the statutes. It should be pointed out that in practice this alternative form of supervision
is not frequent.
Limited Liability Company (LLC):
LLCs share a number of features with the incorporated business companies except for the following
conditions:
• The number of partners may not exceed 50 persons;
• Incorporated Business Companies may not be partners;
• They may not quote on the Stock Exchange;
• A change in one of the partners requires the company statutes to be modified;
• The procedures for setting up the company are simpler; and,
• The statutes are more flexible.
As with the Incorporated Business Companies, the partners’ responsibilities are limited to the amount
of stock they underwrite or acquire, but in this case, the partners must provide unlimited and mutually-
binding guarantees of their contributions. Partners may own more than one share. Although the Law
A r g e N t I N A’ s N At I o N A l I N v e s t m e N t D e v e l o p m e N t Ag e N c y - L e g a L F r a m e w o r k F o r I n v e s t m e n t s I n a r g e n t I n a 8
9. places no restrictions on transfers, the partnership agreement may do so.
The task of administering and representing the company corresponds to one or more managers or
partners or others. The managers are held responsible at personal or mutually-binding level, according
to the way management is organized and the rules governing its working as established in the
partnership agreement.
LLCs may be established by means of public or private instruments. They must register with the General
Inspectorate of Justice (IGJ). There are no minimum capital requirements, however this should be related
to the company’s stated aims.
Common issues regarding the registration of Companies in argentina
The registration of commercial companies in Argentina is carried out at the Public Registry of
Commerce corresponding to their fixed business address. In the case of the City of Buenos Aires, the
organization and activities of the Public Registry of Commerce are the responsibility of the IGJ.
The process for establishing a company at the IGJ takes approximately 30 (thirty) days and involves the
following requirements:
1. Application for “Reservation of name or denomination (“Reserva de nombre o denominación”)
This involves filling in form # 3, which includes three proposals, available at the IGJ and returning the
original and one copy to the Sector called “Reservation of names” (“Reserva de nombres”).
2. Presentation form
Form # 1. Establishment and amendments:
a. The partnership agreements or statutes with certified copies.
b. Legal Opinion on professional pre-qualifications.
3. Payment of Corporate Establishment Tax or Retributive Tax, as required
If an Incorporated Business Company is to be established, a one-off payment of the corporate
establishment tax must be made at the Banco de la Nación Argentina.
If a Limited Liability Company is to be established, a one-off payment of the retributive tax must be
made at the Banco de la Nación Argentina.
4. Publication of Edict
Article 10 section A of the Law of Commercial Companies establishes that limited liability companies
and stockholder companies must publish an advertisement in the official journal for legal publications.
The advertisement must cover certain information, including:
• Name, age, marital status, nationality, profession, address and identity document number of each
of the partners;
• Date when the documents establishing the company were drawn up;
• The name or denomination of the company;
• Company address;
• Company aims;
• Duration;
• Stockholders’ equity
• Make-up of the administration and audit departments, names of their members and amount of
time in these positions where relevant;
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10. • Details concerning legal representation;
• Date of close of financial year.
5. Initial deposit
An initial deposit of 25% of the liquid capital contributed must be made at the Banco de la Nación
Argentina. This may be done at the time of applying for registration.
6. Foreign companies establishing a Company in Argentina
Foreign companies wishing to set up a company in the Argentine Republic must, in addition to the
points mentioned above:
• Prove that they have been established in accordance with the laws in force in their countries of
origin before the judge of their respective Public Registry of Commerce.
• Register the company’s original partnership agreement, amendments and any other
documentation concerning its authorization, as well as that relating to its legal representatives
at the Argentine Public Registry of Commerce (if this is a stockholders’ company it should also be
registered at the Stockholder Company Register).
• State whether there are any prohibitions or legal restrictions on the company’s activities, main
activity or activities in its country of origin. This information must be given in the partnership
agreement or statutes of the company or subsequent amendments, if relevant.
• Prove that as of the date of the application for registration, the company complies with at least
one of the following conditions outside the Argentine Republic:
Existence of one or more branches or permanent representatives, accompanied to this effect by
documentation certifying the validity of these, issued by the competent administrative or legal
bodies from the location where they are based.
Ownership of stock in other companies which comes under the heading of non-current assets
according to the definitions given in accounting standards in general use.
Ownership of fixed assets in the place of origin, whose existence and value must be verified by
the definitions given in accounting standards in general use.
The two requirements mentioned immediately above must be supported by the financial
statements of the company and/or certification documentation signed by one of the company’s
executives, taken from the accounting entries transcribed into the company’s books.
• Provisions related to documentation originating abroad:
Documentation originating abroad must be presented according to the requirements established
by the legislation in force in its country of origin, duly authenticated, stamped or legalized by
the Ministry of Foreign Relations, International Trade and Worship of the Argentine Republic as
required, and if necessary accompanied by a version translated into Spanish by a sworn translator
whose signature must be legalized by the relevant professional association for this purpose.
notary protocols
Documentation originating abroad which must be registered may also be presented under a notary
protocol signed before a registered notary of the Argentine Republic with its corresponding translation
into Spanish.
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11. 3. general overview of the argentine tax system
Introduction:
In Argentina, tax revenue is collected by the Argentine Government, the Provinces and municipal
authorities. The tax system is structured on the basis of dues levied on income, wealth and
consumption.
At a national level, the Federal Administration of Public Income (Administración Federal de Ingresos
Públicos - AFIP), the independent entity which answers to the Ministry of Economy and Public Finance,
is responsible for the taxation of income, wealth and consumption.
The main taxes levied at national level include: Income Tax, Value Added Tax, Presumed Minimum
Income Tax, Internal Taxation, Personal Estate Tax, and Taxes on Debits and Credits in Bank Accounts
and Other Operations.
In the provincial ambit, taxation is collected and administered by the provincial Duties Departments,
entities subordinate to the respective Ministries of Economy in the provinces. The main provincial taxes
are Income Tax, Stamp Duties and Real Estate Tax.
Finally, at municipal level, revenue arises from the collection of a number of taxes and duties.
a) national taxation
Income tax: All income, including capital gains, is subject to this tax. Companies resident in Argentina
pay taxes on their global income, although they may submit as payment on account of these taxes
those amounts effectively paid as similar taxes on their activities abroad up to the limits established of
the increase in tax obligations arising from the incorporation of the earnings gained abroad.
Argentines and nationalized foreigners, foreigners with permanent residence in the Argentine Republic
or those who have legally resided in the country for twelve months are considered residents, as are
the following; the undivided estate of taxpayers who fulfill the condition of Argentine residents on the
date of decease; incorporated business companies and other business forms (one-person companies,
civil associations, foundations, etc.) established in the country. Branches established in the Argentine
Republic of companies established abroad are considered resident entities and thus subject to taxation.
The tax applicable to resident companies and branches set up in this country belonging to non-resident
companies is 35% of total earnings.
Non-resident companies that do not own branches or any other permanent establishments in the
Argentine Republic are only subject to taxes on income earned in Argentina. The tax is withheld by
a payment agent in Argentina according to a taxation scale dependent on the kind of income. These
taxes arise from the application of a 35% levy on presumed earnings as established in the Law on
Income Tax.
Double Taxation Treaties: The Argentine Republic has signed Broad Agreements with different countries
in order to avoid double taxation. The agreements seek to avoid companies or individuals being taxed
twice with regard to income, capital and/or wealth taxation. (See Annex II).
value added tax (vat): VAT is a tax applied on the price of the sales of goods and services at each
stage of the commercialization process, taking as payment on account the amounts erogated by the
payment of this tax during earlier stages in the process.
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12. General VAT is 21% while the differential VAT rate is 10.5%, half the general rate. The latter is applied
to different goods and services: the sale of capital goods, transport (except for international travel, the
sale of newspapers, magazines, brochures and periodicals, prepaid health coverage and interests on
foreign and domestic bank loans.
Imports are also subject to this tax at the same rates as domestic goods or services. Exports are not
taxable and exporters may thus apply for VAT refunds on their purchases.
The provision of certain services such as electricity, natural gas and water to properties not for
residential use is subject to greater taxes.
Payments must be made monthly, unlike fiscal credits arising from purchases and fiscal debt arising
from sales operations.
tax on Presumed minimum Income: This tax is applicable to all assets (located both in the Argentine
Republic and abroad) of Argentine companies at an annual rate of 1%. It is also applied to goods
located in Argentina which are the property of permanently-established foreign individuals or entities.
The amount to be paid as Income Tax is considered as payment on account for this particular tax. If the
Income Tax to be paid is greater than the Tax on Presumed Minimum Income, only the former is to be
paid. If, however, the Tax on Presumed Minimum Income is greater than the Income Tax established,
the excess may be used for a maximum period of 10 (ten) years to compensate for the potential over-
charge of Income Tax defined concerning the allowance mentioned in the first instance.
The calculation of tax credits for parallel taxes paid abroad for goods located outside Argentine
territory may be admitted. Similarly, advances received on account of the taxes to be levied in each tax
period should be recorded.
tax on Personal estate: This is a wealth tax as it is applied to personal goods owned up to December 31
each year, and is applicable to both individuals and undivided estates.
Individuals residing in the country are obliged to pay this tax on an annual basis, consisting of a sum
equivalent to 0.5% of their personal estate with a value of between AR$ 305,000 and AR$ 750,000.
Amounts over this figure and up to AR$ 2,000,000, are taxed at 0.75%; from AR$ 2,000,000 to AR$
5,000,000, at 1%, and values over these figures are taxed at 1.25%.
It should be noted that subjects established in Argentina are liable for taxes on goods located both in
the Argentine Republic and abroad.
Individuals domiciled abroad are only subject to taxes on goods located in the Argentine Republic. The
regime applied is that of liable proxy subject to a tax of 1.25%.
Nonetheless, as from the 2002 tax year there is a presumption in force which does not admit evidence
to the contrary, according to which, individuals domiciled abroad or undivided estates established
there may indirectly own stock and/or shares in the capital of Argentine companies whose owners are
companies or any other kind of legally valid entity, companies, stable establishments, appropriation of
wealth or exploitations, domiciled or established abroad.
Likewise, as from then, Argentine companies are obliged to calculate and pay the taxes on the stock
and/or shares in the capital of Argentine companies as liable proxy, calculating the rate on the basis of
a 0.50% charge on the value assigned to the stock/shares (net assets of the Argentine company as of
December 31 of each year, excepting certain circumstances).
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13. Internal taxes: These are applied to the consumption of certain products at different rates and
according to different payment and declaration regimes. In general, these taxes are applied to
manufacturers or importers at the moment of selling their product.
tax on Debits and Credits in Bank Current accounts: This tax is applied to credits and debits incurred
in the bank accounts of the company account holder at a rate of 0.6% for debits and 0.6% for credits.
All movements or transfers of money will be taxed at 1.2% when carried out using payment systems
which replace the use of banking current accounts. It should be noted that there are certain differential
rates and exemptions which may be applied to specific operations.
tariffs on the Import of goods: Import duties are levied at between 0 to 35%, except in specific cases
where minimum thresholds are applied or the goods are from a category which receives special tax
treatment.
Generally, goods from ALADI members are subject to preferences on a percentage basis. As far as
MERCOSUR is concerned, import duties for inter-zone trade have virtually been eliminated. At the same
time, a common external tariff has been established for goods sourced and originating outside the zone.
Other taxes that importers must pay are: Statistics Duty (0.5% on cost, insurance and freight – CIF up to
USD 1,750) and in some cases, Destination Confirmation Tax (2% of CIF). Imports are also subject to VAT
(21% or 10.5% in certain cases) and Income Tax (usually 3% in most cases.
B) Provincial taxation
Income tax: All Argentine jurisdictions (provinces and the City of Buenos Aires) apply this tax to
the gross income of any company carrying out a commercial, industrial, agricultural, financial or
professional activity.
The tax is levied on each commercial transaction and no fiscal credits are awarded for taxes paid during
preceding stages. The taxes levied differ according to the kind of activity and the Law in force in each
jurisdiction varies from 1.5% to 4%. (Primary and industrial activities in general are exempt). The taxes
are paid over a calendar year with payments made on a monthly basis or every two months, depending
on the jurisdiction.
stamp Duties: These are provincial taxes levied in each province generally applicable to the
transactions, partnership agreements and operations of any value in the form of public or private
instruments.
In general, the tax rate charged is 1% although it may vary according to the deeds and legislation in
force in the jurisdiction where the afore-mentioned deeds apply. In the City of Buenos Aires, this tax is
only applied to the transfer of ownership for property and lease contracts or the sublet of properties in
which commercial activities are carried out. The rate applicable to the transfer of property is 2.5% and
to the lease or sublet of the same is 0.5%.
Property tax: Properties in every jurisdiction are liable for annual taxes which are calculated by
applying the rates fixed by the Law on the taxation of the fiscal valuation of land free of improvements,
and of improvements.
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14. Property Tax is a realty tax applied to the value of the land and buildings without taking into account
the personal situation of the taxpayer. The amount is set by the application body and is calculated
according to the tax laws of each fiscal period which establish the valuation and rate scales to be
applied on taxable income according to the system foreseen for each kind of property.
C) municipal taxes
retributive services taxes: Municipal tax departments charge rates for providing industrial health and
safety and other services on the basis of income or other fixed parameters such as numbers of person-
nel, driving force capacity/horse power, etc.
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15. 4. Legal framework for the hire of personnel in argentina
Introduction:
Employment contracts may take different forms. However, the standard rule is the non-fixed term
employment contract which aims to ensure the continuity and permanence of the working relationship.
Forms of hire:
Employment contracts are non-fixed term, unless there is a specific provision to the contrary. The Law
establishes a trial period of three months which may be extended to six under a collective agreement.
During this period the employee may be fired without receiving any form of indemnity.
Domestic legislation foresees the possibility of part-time employment contracts. Working hours may
not exceed 2/3 of a normal working day and the duration of the contract must be fixed by a collective
work agreement. A part-time regime does not allow for over-time.
annual Bonus salary:
The Law provides that full-time workers and employees may take home an extra salary as a bonus
(“aguinaldo”) paid in two six-monthly quotas in June and December. Each quota is equal to 50% of the
highest monthly salary paid during the previous six-monthly period.
vacations:
The duration of the vacations depends on the length of the working relationship to-date; if this
exceeds six months and is less than five years’ service it is 14 days; 21 days if the period served is five
to ten years; 28 days if this is 10 to 20 years, and 35 days if the employee’s period of service is 20 years
or more.
If the employee has been in service for less than six months, he/she may be given one day off for each
twenty days worked.
If the contract expires without the employee having taken his/her vacation, he/she must receive
financial compensation proportionate to the period worked, as and when this is at least three months.
redundancy:
Employment contracts must be terminated with prior notice. Prior notice shall be given by the
employee 15 days prior to the termination of the contract, while the employer must give 15 days
warning when the employee is in the trial period, one month when the employee has been employed
for a period not exceeding five years and two months when the period exceeds this.
Redundancy indemnity is equivalent to a twelfth part of the highest basic monthly salary paid to the
employee during the last year o during the time worked if this period is less, for each month of work or
fraction greater than 10 days.
The highest remuneration which is taken as the baseline may not be greater than three times the
monthly average contemplated in the collective agreement applicable to the employee in question.
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16. The minimum indemnity may not be less than two twelfths of the highest basic monthly remuneration
paid the employee during the last year of service.
When the employer fires the employee because the latter has committed a work-related offense (of
sufficient gravity) which hinders the continuity of the relationship, the latter is not entitled to receive
the indemnity provided for by labor legislation.
social security contributions:
Companies make employer contributions to cover the social security services of their employees. These
contributions cover family allowances, medical services, pension plans and unemployment funds. The
rates are 27% of the gross salary paid for employers whose main activity is the provision and lease of
services, and 23% for other employers.
In order to foster new job creation in Small and Medium-Sized Enterprises, those employers who
increase the number of persons in their full-time non-fixed term employment are eligible for
a reduction in the social security contribution rates. This discount applies to one-third of the
contributions made. At the same time, all the companies based outside the metropolitan area whatever
their size may offset against VAT a percentage of the amounts paid as employer contributions.
working hours:
Normal working hours are 8 hours a day, or 48 hours a week. The working day may be extended to
include hours worked over-time which should be paid at an additional 50% of the normal hourly rate.
The hourly rate on Saturdays after 1 pm, Sundays and national holidays is double the normal rate. Night
work is permitted but may not exceed the daily period of 7 hours between 9 pm and 7 am.
There are twelve national holidays in the year
Month Date Reason for holiday
January 1 New Year’s Day
March 24 National Day of Memory for Truth and Justice
March/April * Holy Week – Good Friday
Day of the War Veteran and those Fallen in the South Atlantic
April 2**
Conflict (Guerra de Malvinas)
May 1 Labor Day
May 25 Anniversary of the First National Government
June 20*** National Flag Day
July 9 National Independence Day
August 17*** Anniversary of the death of General José de San Martín
Octuber 12** Columbus Day
December 8 Feast of the Immaculate Conception
December 25 Christmas
* Variable date.
** If this holiday falls on a Tuesday or a Wednesday it is passed to the preceding Monday, and if it coincides with a Thursday or
Friday, it is passed to the following Monday.
*** The holiday is celebrated on the third Monday of the month.
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17. minimum Living wage:
In Argentina, the Minimum Living Wage is set by the National Board for Employment, Productivity and
Wages, made up of representatives from the trade unions, employers’ associations and the Executive
Power. The resolutions passed by this body require a majority vote of two-thirds of its members. Currently,
the minimum living monthly wage stands at AR$ 1,400 (USD 364).
The main laws and regulations in force which regulate labor and welfare issues in Argentina are the
following:
• Employment Contract Law Nº 20.744;
• Law of Union Associations Nº 23.551 and Decree # 467/88;
• Collective Working Agreements Nº 14.250 and 25.250;
• National Employment Law Nº 24.013;
• Labor Reform Regime Laws Nº 25.013 and 25.877;
• Occupational Hazard Law Nº 24.557;
• Integrated Retirement and Pension Systems Law Nº 24.241;
• Family Allowance Regime Law Nº 24.714; and
• National Health Insurance and Coverage System Nº 23.660 and 23.661.
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18. 5. Framework of norms for investment incentives
Argentine legislation includes norms designed to encourage development in specific areas of the
economy. This chapter covers some of the incentives in force at the time which may be taken into
account when making decisions.3
1. Incentives for investment in capital goods and infrastructure
1.1. Promotion of investments in capital assets and infrastructure works
1.2. Reduction in the import allowances of capital assets
1.3. Reduction in VAT
1.4. Incentives for the production of capital goods, IT, telecoms and agriculture machinery
1.5. Import of goods to be integrated into large-scale investment projects
1.6. Used production lines
1.7. Temporary import of capital goods
2. sectoral incentives
2.1. Automotive Promotion Regime
2.2. Software Industry Promotion Regime
2.3. Promotion of the Development and Production of Modern Biotechnology+
2.4. Biofuels Promotion Regime
2.5. Mining Promotion Regime
2.6. Forestry Regime
2.7. Program of Incentives for the Exploration and Exploitation of Hydrocarbons
2.8. Public infrastructure works
3. Incentives for re-location: provincial regimes and free zones
3.1. Provincial regimes
3.2. Free zones
4. Incentives for technological development and innovation
4.1. Argentine Technological Fund (FONTAR)
4.2. Trust Fund for the promotion of the Software Industry (FONSOFT)
4.3. Fund for Scientific and Technological Research (FONCYT)
4.4. Federal Board of Science and Technology (COFECYT)
4.5. Promotion of Technological Innovation
5. employment incentives
. For more information see 5.1. Integrated plan for the Promotion of Employment: More and Better Jobs
the report entitled “Investment
Incentives”, prosperAr, 2009.
5.2. Training and Skills Certification Program
(http://www.prosperar.gov.ar) 5.3. Tax credits for SME training
5.4. Tax credit regime for technical education courses
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19. 6. Financing programs
6.1. Credit lines from the Banco de la Nación Argentina (BNA)
6.2. Credit lines from the Banco de Inversión y Comercio Exterior (BICE)
6.3. Credit lines from the Consejo Federal de Inversiones (CFI)
6.4. Subsidized rates for loans for Micro-SMEs
6.5. National Development Fund for Micro-SMEs (FONAPyME)
7. export promotion
7.1. Export refunds
7.2. Draw Back
7.3. Temporary imports for industrial improvements
7.4. Export of turn-key factory installations
7.5. Regime of in-factory Customs
7.6. Regime of in-house Customs
7.7. Refunds on exports from ports in Patagonia
7.8. Subsecretariat of SMEs and Regional Development
7.9. Export.Ar Foundation
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20. annex I
1. Algeria (2000) 28. Luxembourg (1992)
2. Armenia (1994) 29. Malaysia (1995)
3. Australia (1992) 30. Mexico (1998)
4. Austria (1994) 31. Morocco (1997)
5. Bolivia (1995) 32. Nicaragua (2000)
6. Bulgaria (1994) 33. Panama (1998)
7. Canada (1992) 34. Peru (1996)
8. China (1994) 35. Philippines(1999)
9. Chile (1991) 36. Portugal (1995)
10. Costa Rica (1999) 37. Czech Republic (1998)
11. Croatia (1995) 38. Rumania (1995)
12. Cuba (1997) 39. Russia (2000)
13. Denmark (1994) 40. South Africa (2000)
14. Ecuador (1995) 41. South Korea (1996)
15. Egypt (1993) 42. Spain (1992)
16. El Salvador (1998) 43. Sweden (1992)
17. Finland (1995) 44. Switzerland (1992)
18. France (1992) 45. Thailand(2000)
19. Germany (1992) 46. The Netherlands (1994)
20. Guatemala (2000) 47. Tunisia (1994)
21. Hungary (1994) 48. Turkey(1994)
22. Indonesia (1997) 49. Ucrania (1996)
23. India (1999) 50. The United Kingdom (1992)
24. Israel (1997) 51. The United States (1992)
25. Italy (1992) 52. Venezuela (1995)
26. Jamaica (1995) 53. Vietnam (1997)
27. Lithuania (1998)
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21. anexo II
Country DATE OF AGREEMENT LAW N°
25.332
Protocol 09/16/1996
B.O. 11/14/00
25.238
AUSTRALIA 08/27/1999
B.O. 12/31/99
22.589
AUSTRIA 09/13/1979
B.O. 05/20/82
24.850
BELGIUM 06/12/1996
B.O. 07/22/97
21.780
BOLIVIA 10/30/1976
B.O. 04/25/78
22.675
BRAZIL 05/17/1980
B.O. 11/17/82
24.398
CANADA 04/29/1993
B.O. 12/13/94
23.228
CHILE 11/13/1976
B.O. 10/01/85
26.232
Protocol 02/23/2003
B.O. 02/26/07
24.838
DENMARK 12/12/1995
B.O. 24/07/97
24.654
FINLAND 12/13/1994
B.O. 07/10/96
22.357
FRANCE 04/04/1979
B.O. 12/30/80
26.276
Protocol 08/15/2001
B.O.08/13/07
22.025
GERMANY 07/13/1978
B.O. 07/23/79
22.747
ITALY 11/15/1979
B.O. 02/24/83
25.396
Protocol 12/03/1997
B.O. 01/15/01
25.461
NORWAY 10/08/1997
B.O. 09/13/01
26.185
RUSSIA 10/10/2001
B.O. 01/03/07
24.258
SPAIN 07/21/1992
B.O. 11/19/93
24.795
SWEDEN 03/05/1997
B.O. 04/14/97
---
SWITZERLAND 04/23/1997
---
Protocol of ---
Amendments and 11/23/2000
---
Additions.-
24.933
THE NETHERLANDS 12/27/1996
B.O. 01/15/98
THE UNITED 24.727
01/03/1996
KINGDOM B.O. 12/04/96
* retroactive provisional application : 1/12/2002.-
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22. annex III
Useful information:
1. Legal framework for foreign investment in argentina: equality of treatment with national
investors:
Law 21.382 – Decree 1853/93: www.infoleg.gov.ar
http://www.infoleg.gov.ar/infolegInternet/anexos/55000-59999/56254/texact.htm
2. Legal structures that companies may adopt:
Inspección General de Justicia (IGJ)
Av. Paseo Colón 285 – Ciudad Autónoma de Buenos Aires
Tel. 0800-333-3445
www.jus.gov.ar/registros/IGJ/
3. general overview of the argentine tax system:
Administración Federal de Ingresos Públicos (AFIP)
Hipólito Irigoyen 370 – Ciudad Autónoma de Buenos Aires
Tel. 0810-999-2347
www.afip.gov.ar
4. Legal framework for the hire of personnel in argentina :
Ministerio de Trabajo, Empleo y Seguridad Social
Av. Leandro N. Alem 650 – Ciudad Autónoma de Buenos Aires
Tel. (5411) 4310-6000
www.trabajo.gov.ar
A r g e N t I N A’ s N At I o N A l I N v e s t m e N t D e v e l o p m e N t Ag e N c y - L e g a L F r a m e w o r k F o r I n v e s t m e n t s I n a r g e n t I n a 22