Why You Should Do 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 plus it that Argentina ranks fifth in the foreign investment stock in South America.
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. In the past the process of online registration of businesses took close to one month but after the law was passed the process takes less than twenty four hours. The registration process enables an entrepreneur to register a simplified business entity, a bank account and an identification number. An entrepreneur is also allowed to make a formal recording of a temporary business address.
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 people of Argentina started using cryptocurrencies early because they lacked trust in the government and in the banks . Currently Argentina takes the lead in digital currencies in Latin America and more businesses have started using bitcoin and other cryptocurrencies in their stores.
A strong investment in energy that can be renewed has been made by Argentina so as to become more sustainable.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. So as to achieve this goal Argentina started auctions for renewable energy so as to attract investors from other countries. Argentina also offers incentives 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. Becoming a member of MERCOSUR enables the country to have access to the member countries with lower taxes and legal requirements therefore increasing the trading capacity of the country which attracts 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. Before making a choice to investing in Argentina it is important to make a visit to the country so as to learn more about the people and other things such as their culture.