Doing Business in Argentina
[Excerpt] Foreign investors enjoy the same rights and undertake the same duties as domestic investors when investing in financial or productive activities. Generally, Argentine Law does not set any restrictions or prohibitions on foreign investments. They are no longer subject to prior government approval beyond those applicable to any domestic or foreign investor in each particular activity. The Ley de Inversiones Extranjeras (Foreign Investment Law) (hereinafter referred to as the “FIL”) (Law No. 21,382/76) was amended several times for the purpose of achieving a liberalization and deregulation of said investments. It was recently amended by Law No. 23,697 and Executive Order No. 1,853/93. The FIL sets forth that foreign investors shall be treated as local investors, provided they invest in productive activities. (i.e., industrial, mining, agricultural, commercial, service or financial activities, or any other activities related to the production or exchange of goods or services). Investments may be made in: (i) foreign currency; (ii) capital assets, (iii) profits from other investments; (iii) repatriable capital resulting from other investments made in the country; (iv) capitalization of foreign credits; (vi) certain intangible assets; (vi) other forms acceptable to the foreign investment authorities or contemplated by special legislation.
Argentina; foreign investment; law; trade; commerce
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