Why You Should Do Business In Argentina
The general economic environment in Argentina is quite low but people from other countries still make investments in the country in spite of this causing a rise in the number of greenfield investments. Another improvement is that in the foreign direct investment stock in South America Argentina ranks fifth.
A new law called the Ley de Emprendedores has been put into existence by the government of Argentina, tis law allows the entrepreneurs to make a formal recording of their business online. Previously the process of online registration of businesses took close to one month but due to these new law the process now takes less than twenty four hours. 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 potential when it comes to recording of money balance electronically on a store-value card or other device. The citizens of Argentina began the use of cryptocurrencies long ago as they had no 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.
Argentina has made a strong investment in renewable energy so that it is able to sustain itself.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. It also offers rewards such as early VAT recovery, quicker deprecation, 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.
Argentina has grown its young talent, there are so many young educated people which makes it a great investment location. The young people are also able to speak English and Spanish and have also attained secondary education therefore they can make it easy for an investor to find 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.