Advantages Of Doing Business In Argentina
Despite the generally low economic environment in Argentina, people from other countries still make investments in the country causing an improvement in the number of greenfield investments. 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. The process of online business registration which usd to take close to one month now takes less than twenty four hours due to the passing of the new law. The registration process enables an entrepreneur to register a simplified business entity, a bank account and an identification number. An entrepreneur is also allowed to register a temporary business address.
Argentina has the greatest potential when it comes to recording of money balance electronically on a store-value card or other device.The people of Argentina started using cryptocurrencies early because they lacked 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.
Argentina has made a strong investment in renewable energy so that it is able to sustain itself.Having the national electric energy consumption consisting of up to twenty percent renewable energy is the main aim of the strong investment in renewable energy and they plan to achieve this by 2025. So as to achieve this goal Argentina started auctions for renewable energy so as to attract investors from other countries. It also offers rewards such as early VAT recovery, quicker deprecation, no minimum national income tax, no import duties and relief from other relevant taxes.
Argentina has ensured that it gets involved in the international market. It has become a member of MERCOSUR which enables it to gain access to the member countries with lower taxes and legal requirements this increases the trading capacity of the country and thereby attracting business with other countries.
Argentina has ensured it grows the young local talent making it a great investment location. Investors are able to get the local talents to run their businesses as majority of the young people are able to speak both English and Spanish and have also attained secondary education 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.