Benefits 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. Another improvement is that in the foreign direct investment stock in South America Argentina ranks fifth.
The government of Argentina has put a new law called the Ley de Emprendedores into existence, the new law allows entrepreneurs to make a formal recording of their entire business online. 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. An entrepreneur is able to make a formal recording of a simplified business entity, a bank account and an identification number in the registration process. A temporary business address can also be registered by the entrepreneur.
Argentina has the greatest currently unrealized ability when it comes to digital currencies. 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 a leader in digital currencies in latin America and the use of bitcoin and other cryptocurrencies has been embraced by more businesses.
Argentina has made a strong investment in energy that can be renewed 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. In order to achieve this goal Argentina started auctions for renewable energy which is aimed at attracting investors from other countries. Argentina also offers bonuses such as early VAT recovery, quicker depreciation, 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.
The fact that Argentina has grown its young local talent makes 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. It is important for one to make a visit to the country in order to learn more about the people and other things such as their culture before deciding to invest there.