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. Argentina also ranks fifth in the foreign direct investment in South America which is another improvement.
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 make a formal recording of a simplified business entity, a bank account and an identification number here. 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 . In the recent days Argentina has been ahead in digital currencies in Latin America and many businesses have begun making use of the bitcoin and other cryptocurrencies in their stores.
Argentina has made a strong investment in energy that can be renewed so as to become more sustainable. The main purpose of this is to have renewable its national electric energy consumption consisting of up to twenty percent renewable energy and they plan to have this by 2025. In order to achieve this goal Argentina started auctions for renewable energy which is aimed at attracting investors from other countries. Argentina also offers bonuses such as early VAT recovery, quicker depreciation, no minimum national income tax, no import duties and relief from other relevant taxes.
Argentina has ensured more involvement in the international market.It has become a member of MERCOSUR which enables it to gain access to member countries with lower taxes and legal requirements, this ensures that the country increases its trading capacity and making it attract business with other countries.
The fact that Argentina has grown its young local talent 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. It is important for one to make a visit to the country in order to learn more about the people and other things such as their culture before deciding to invest there.