Starting a Business in Buneos Aires

[iStar]

I was thinking of starting a business in Buenos Aires and was wondering how difficult is the process?

Do I need to be a citizen? Would it be easier if I have a local business partner?

Does anyone own or operate a business here? I'd love to hear from you.

Any suggestions, advice is welcomed

Thanks so much.

 

[Attorney in BA]

What type of business? There's a thread about opening a bar that has some helpful information.
Do you have a resident visa that allows you to work in Argentina? If not, you should get one.
When opening a business you can do it either on your own name or start a company (SA or SRL). Incorporation is a fairly simple process and neither the shareholders or directors need to be Argentine (though he majority of the Board of Directors must live in Argentina). A local partner might be of help depending on the type of business you will pursue. This could also be covered with a local employee or a good lawyer and accountant. If you want more information about the legal vehicles to operate a business in Argentina or details of the tax laws and labor regulations send me an email or a pm. Good luck with your venture.

 

[citygirl]

Depends what type of business - some require long waiting periods for permits, etc, others can be done very quickly. We did a full incorporation in about 7 weeks. There is A LOT of paperwork - I would definitely recommend getting a good lawyer who can explain everything clearly. PM me if you want my lawyers name - he is good and has done most of the expat businesses.

Attorney in BA - you said "neither the shareholders or directors need to be Argentine" - While true, the director of the company must be a RESIDENT of Argentina (therefor if the OP doesn't have residency, s/he would need a local partner).

Star - are there specific questions I can answer for you?

My 2 cents - as I mentioned - having a good lawyer and accountant is essential IMO. My accountant is worth every penny we pay him as he not only does books but assists with employee matters (setting up bank accounts, etc)

assuming you will have employees - it is a PITA and there are lots and lots and lots of rules and regulations that are required if your employees are en blanco. I swear, I pay more in taxes and such than I do in their salaries. And no, I'm not really joking.

Opening a bank account is a PITA and again, this is where I would say having a local partner will be invaluable.

There are lots of steps you have to follow to do the incorporation but generally, the process is a lot more painless than I thought it would be.

 

[iStar]

Thank you both for your posts, much appreciated!

I was interested in opening a small cafe. Just coffee and desserts. Nothing else.

Regarding employees, I would have myself and my business partner mainly run the place, although, I can see having 2 part-time employees.

Citygirl, I did have some questions. Thanks for asking

Do you know if I would require any special permits for this type of business?

Any idea how much should I expect in legal fees?

How much is it to hire an accountant?

Thanks so much for your assistance & time

 

[Attorney in BA]

You asked CityGirl, but I'll go ahead and answer as well. Regarding local regulations, banks, taxes, etc. (including lawyer fees) you can check out this blog: http://argentinabusiness.blogspot.com/

As for the permits, you may see http://www.buenosaires.gov.ar/areas...abil_permisos/comosehabilita.php?menu_id=4274

CityGirl, btw, i did mention that the majority of the members of the board of directors must live in Argentina.

 

[citygirl]

Attorney - si, just clarifying that one must have "legal" residency, not just live in Argentina on a tourist visa.

1 - Can't comment on the permits required for a cafe - that is outside of my experience.

2 - We spent probably over 10K USD but there were complications (had to register both the foreign companies here then move the ownership from individuals to foreign entities, etc). This is a quick guideline for a price estimate from my lawyer for basic incorp:

(ii)Incorporation of an SRL: US$ 1600


(iv)Expenses for registration of SRL (publications in the official gazette, deposit, etc.): US$ 1,157.14



3- Our accountant is about 1000 USD per month. That includes audit, payroll services, book-keeping, pretty much everything. I had quotes as low as 400 USD per month.


Let me know if I can help in any way.

 

[iStar]

Thanks so much... Citygirl and Attorney In BA This is a great start.

 

[Bairesgirl]

Just in case it is of use, my accountants (at Estudio Kaizen) are very correct, diligent and reliable. Also they charge everybody pesos (wherever you may hail from)

Both partners have worked at the tax/and accounting departments of Grupo cencosud (Supermakets Jumbo/ Disco and Easy) in hierarchical positions (being audited to ISO 9001 standards and such)

They are currently charging I have just checked
From AR$ 3000 for incorporation of a SRL (all charges citygirl described included) depending on size of SRL
And from AR$ 1100 monthly all they require includes audit, payroll services, book-keeping, pretty much everything.

If you or anyone wants their details let me know.....

best of luck in your endeavours.....

 

[Bairesgirl]

i Star, Sorry for the delay in replying,

You wanted the accountants details, no problem I will PM them to you.

best,

Victoria

 

[Bairesgirl]

Hi some people PMd me asking for my accountant details and their current fees.

As mentioned then are very correct, diligent and reliable. Also they charge everybody pesos (wherever you may hail from)

Both partners have worked at the tax/and accounting departments of Grupo cencosud (Supermakets Jumbo/ Disco and Easy) in hierarchical positions (being audited to ISO 9001 standards and such)

They are currently charging I have just checked (as I was asked by)
From AR$ 5000 for incorporation of a SRL (all charges citygirl described included) depending on size of SRL
And from AR$ 1850 monthly all they require includes audit, payroll services, book-keeping, pretty much everything.

best to all