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. Another plus it that Argentina ranks fifth in the foreign investment stock in South America.
A new law called the Ley de Emprendedores has been put into existence by the government of Argentina, tis law allows the entrepreneurs to make a formal recording of their business online. Previously the process of online registration of businesses took close to one month but due to these new law the process now takes less than twenty four hours.The registration process enables an entrepreneur to make a formal recording of a simplified business entity, a bank account and an identification number here. A temporary business address can also be registered by the entrepreneur.
Argentina has the greatest currently unrealized ability when it comes to recording of money balance electronically on a stored-value card or other device. The use of cryptocurrencies now by the people of Argentina began long ago because the people had no trust in the government and in the banks. In the recent days Argentina has been ahead in digital currencies in Latin America and many businesses have begun making use of the 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. In order to achieve this goal Argentina started auctions for renewable energy which is aimed at attracting 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 more involvement 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 grown its young talent, there are so many young educated people which makes it a great investment location. The young people are also able to speak English and Spanish and have also attained secondary education therefore they can make it easy for an investor to find 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.
Supporting reference: straight from the source