How Buenos Aires’s New Regulations Ease Compliance for Foreign Companies

In our previous post, New Simplified Regulations for Local Companies in Argentina, we outlined how General Resolution 15/2024 (GR 15/24) is transforming the regulatory landscape for local businesses in Buenos Aires. Now, we’re diving into how GR 15/24 impacts foreign companies operating in Argentina, offering a streamlined approach to compliance and enhancing flexibility for companies incorporated abroad.

If your foreign company is considering or currently operating in Buenos Aires, here’s a practical guide to the key changes and how they benefit you.

Expanded Registration for Offshore Companies

Under GR 15/24, foreign companies are no longer required to show that their activities are unrestricted in their home jurisdiction, making it possible for offshore companies to register directly in Argentina. Previously, only offshore companies recognized as investment vehicles of another entity could register, but the new resolution opens up registration to offshore companies broadly—allowing greater global business participation. However, for companies from non-cooperative jurisdictions (in tax transparency or anti-money laundering), a stricter registration review applies.

Elimination of Economic Presence Requirements

Foreign companies are now relieved of the obligation to prove economic activities or asset holdings outside Argentina, a significant shift from previous requirements. This means companies no longer need to submit detailed financial data or asset disclosures, simplifying the initial registration and ongoing compliance burden.

Streamlined UBO Disclosure

GR 15/24 also removes the requirement to disclose all shareholders of the foreign company. Instead, companies only need to identify the Ultimate Beneficial Owners (UBO) at the time of registration or for other specific filings. This targeted approach aligns with international standards, allowing foreign companies to maintain privacy around corporate ownership while ensuring transparency in line with Argentine regulations.

Abolishment of Annual Information Filing

One of the most notable changes is the elimination of the annual information regime. Foreign companies are no longer required to annually confirm their continued compliance with registration requirements. This not only reduces ongoing administrative costs but also simplifies other procedures, like the registration of local representatives’ appointments or resignations, as companies no longer have to meet previous annual information requirements.

Enhanced Representative Powers

Foreign companies can now act in Argentina through attorneys or representatives directly appointed abroad, providing greater flexibility in managing business operations. This recognition of attorneys-in-law appointed outside Argentina ensures that foreign companies can operate efficiently without requiring special domestic appointments, simplifying the procedural steps for foreign entities.

Why It Matters?

GR 15/24 represents a significant step forward in making Buenos Aires a business-friendly jurisdiction for foreign investors. By eliminating burdensome requirements, simplifying transparency, and modernizing the approach to compliance, these reforms signal Argentina’s commitment to fostering an attractive, competitive regulatory environment for international business.

For companies seeking to navigate these updates effectively, Klea’s expertise across 100+ jurisdictions offers the support needed to ensure smooth compliance, keeping your focus on business growth and cross-border success.