Originally from:
International Protection of Foreign Investment - 2nd Edition - Looseleaf
International Protection of Foreign Investment - 2nd Edition - Electronic
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Argentina
María Fraguas and Verónica Sarratea
Nicholson y Cano
Buenos Aires, Argentina
Introduction
Argentina is receptive to, and has liberal policies toward, foreign investment. At present,
such investments are not subject to any government restrictions or limitations. Foreign
Investment Law 21,382, amended by Decree Number 1853/93, provides that:
. . . foreign investors will have the same rights and obligations that the Constitution
and laws afford to national investors when they invest in economic or productive
activities.
Therefore, it can be said that foreign investors have the same rights and obligations as do
local investors in Argentina. Under Law Number 21,382, foreign investors are defined as
all persons or organisations with a legal and/or real domicile outside Argentina who own
an investment in foreign capital and local enterprises formed by foreign capital.
Admission and Regulation of Foreign Investment
Registration and Business Formation
In General
Foreign individuals who intend to invest in Argentina are not required to obtain prior
authorisations; nor are they required to register their investment with any specific registry.
In 1989, when the Foreign Investment Law was amended, all previously existing
registration requirements for foreign investment were eliminated. Decree Number 1225
of 1989 provided for the ‘establishment of the general principle that all foreign investment
may be realised without the need for prior approval’. Additionally, special taxes on
payments abroad were repealed, thereby subjecting foreign investment in Argentina to
the same treatment as local investors.
Decree Number 1853/93 provides that foreign investors may make investments in
manufacturing, mining, commerce, finance, service, production, or any industry related
to the exchange of goods and services in the same manner as local investors without
obtaining any prior government approval. As a result, no industry, with the exception of
radio and television broadcasting, is subject to any restrictions or conditions that apply
exclusively to foreign investors. In addition, Argentine law does not provide for any
