Benefits Of Doing Business In Argentina
Argentina has a generally low economic environment but people from other countries still make investments in the county in spite of this making the number of greenfield investments to rise. Argentina also ranks fifth in the foreign direct investment in South America which is another improvement.
Entrepreneurs are able to make a formal recording of their business online due to these new laws called Ley de Emprendedores which has been put into existence by the government of Argentina. In the past the process of online registration of businesses took close to one month but after the law was passed the process takes less than twenty four hours. The registration process enables an entrepreneur to register a simplified business entity, a bank account and an identification number. A temporary business address can also be registered by the entrepreneur.
Argentina has the greatest potential when it comes to recording of money balance electronically on a store-value card or other device. The citizens of Argentina began the use of cryptocurrencies long ago as they had no trust in the government and in the banks. Currently Argentina takes the lead in digital currencies in Latin America and more businesses have started using bitcoin and other cryptocurrencies in their stores.
A strong investment in energy that can be renewed has been made by Argentina so as to become more sustainable. The main purpose of this is to have renewable its national electric energy consumption consisting of up to twenty percent renewable energy and they plan to have this by 2025. So as to achieve this goal Argentina started auctions for renewable energy so as to attract investors from other countries. Argentina also offers incentives such as early VAT recovery, quicker depreciation, no minimum national income tax, no import duties and relief from other relevant taxes.
Argentina has ensured more involvement in the international market.It has become a member of MERCOSUR which enables it to gain access to member countries with lower taxes and legal requirements, this ensures that the country increases its trading capacity and making it attract business with other countries.
Argentina has ensured it grows the young local talent making it a great investment location. Majority of the young people can speak both English and Spanish and have also attained secondary education making it easy for an investor to get local talent to run the business. Making a visit to the county before deciding to have an investment there is advisable as you are able to learn more about the people and other things such as their culture.