Short answer
A foreign company can enter Argentina in three ways: as a shareholder of a local company (subsidiary), through a registered branch, or by carrying out only isolated acts. Most investors choose a subsidiary: an S.A. (minimum capital ARS 30,000,000) or an S.R.L. (no statutory minimum). Before subscribing shares, the foreign parent must register with the Public Registry under article 123 of the General Companies Law; since May 2026 that registration can be filed together with the incorporation of the local company.
Based on the official Argentine sources listed at the end of this page.
The three ways to operate
Argentine law looks at what the foreign company will actually do in the country. Article 118 of the General Companies Law (Ley 19.550) allows a company incorporated abroad to carry out isolated acts and to appear in court without any registration. As soon as it wants to operate on a regular basis or open a branch or permanent representation, it must prove its existence, fix a domicile in Argentina, publish and register, and appoint a local representative.
Article 123 covers a different situation: a foreign company that wants to set up or hold shares in an Argentine company must first register its by-laws and its legal representative with the Public Registry. In practice this gives three routes:
| Route | Legal basis | Typical use |
|---|---|---|
| Subsidiary (local S.A., S.R.L. or SAS owned by the foreign parent) | Art. 123 LGS for the parent + rules of the chosen company type | Most operating businesses; limits the parent's liability to its contribution |
| Branch or permanent representation | Art. 118, third paragraph, LGS | Contracts or projects the parent signs directly; separate local accounting is required (art. 120) |
| Isolated acts only | Art. 118, second paragraph, LGS | One-off transactions; no registration, but not suitable for ongoing activity |
A foreign company whose registered office or main business is in Argentina is treated as a local company for incorporation and supervision purposes (art. 124 LGS), so a foreign shell cannot be used to avoid local formalities.
Choosing the company type
Sociedad Anónima (S.A.). The classic corporation. Its subscribed capital cannot be lower than ARS 30,000,000, an amount updated by Decree 209/2024 (art. 186 LGS). At least 25% of cash contributions is paid in at incorporation and the balance within two years. The absolute majority of the directors must have their real domicile in Argentina, and every director must set a special domicile in the country (art. 256 LGS).
Sociedad de Responsabilidad Limitada (S.R.L.). Capital is divided into quotas and there is no statutory minimum; the same 25% / two-year rule applies to cash contributions, and the number of partners cannot exceed fifty (arts. 146 and 149 LGS). Often chosen for smaller subsidiaries with two shareholders.
Sociedad por Acciones Simplificada (SAS). Created by Ley 27.349. Minimum capital is twice the national minimum wage (salario mínimo, vital y móvil) at incorporation (art. 40). At least one member of the management body must have a real domicile in Argentina, and foreign members must appoint a representative and set a domicile in the country (art. 51). A SAS cannot fall within certain categories of art. 299 LGS (for example public utilities or companies that take savings from the public), nor be controlled by or hold more than 30% of such companies (art. 39).
One shareholder or two? A foreign parent can be the sole shareholder of an S.A. (a sociedad anónima unipersonal), but that company cannot itself be formed by another one-person company (art. 1 LGS), its capital must be fully paid in, and it is subject to permanent state supervision (art. 299, item 7). Many groups therefore incorporate with two shareholders, usually the parent and an affiliate.
What changed in 2026
The Inspección General de Justicia (IGJ), the registry for companies domiciled in the City of Buenos Aires, has issued a series of simplifying resolutions this year. The ones that matter most to foreign investors are:
- General Resolution 4/2026 (May 2026) unified the requirements for registering foreign companies under arts. 118 and 123, accepts apostilled digital documents, and allows the foreign shareholder's registration and the local company's incorporation to be filed together. Registration under art. 118 also exempts the company from a separate art. 123 registration.
- General Resolution 11/2026 (September 2026) removed the mandatory professional pre-qualification opinion for incorporations, allows a corporate purpose with several unrelated activities (and, for a SAS, “any lawful activity”), adds an optional electronic registered address, and expressly permits arbitration clauses in the by-laws.
Companies domiciled in a province register with that province's registry, which applies its own regulations alongside the national law.
Step by step
- Choose the structure (subsidiary type or branch) based on liability, tax and the number of shareholders.
- Collect the parent's documents: certificate of good standing issued within the last six months, by-laws (or a certified consolidated text), board resolution deciding the investment and appointing the legal representative, and beneficial-owner and politically-exposed-person declarations. Foreign documents must be apostilled or legalised and translated by a sworn translator.
- Register the parent under art. 123 (or art. 118 for a branch). Since RG 4/2026 this can be filed jointly with step 4.
- Incorporate the local company: by-laws, capital subscription, appointment of directors or managers with the required local residents, publication in the Official Gazette and registration.
- Obtain the tax ID (CUIT) of the new company with ARCA, and the CUIT of foreign directors and shareholders where required.
- Open a bank account, register as employer if you will hire staff, and complete local tax registrations.
Frequently asked questions
Can a foreign company own 100% of an Argentine company?
Yes. There is no general foreign-ownership cap. A single foreign shareholder can own an S.A. as a one-person company, although that structure must pay in all of its capital and is subject to permanent IGJ supervision. Specific sectors may have their own restrictions.
Do the directors have to live in Argentina?
In an S.A., the absolute majority of directors must have their real domicile in Argentina and all must set a special domicile in the country (art. 256 LGS). In a SAS, at least one member of the management body must reside in Argentina (art. 51, Ley 27.349).
What is the minimum capital?
ARS 30,000,000 for an S.A. (art. 186 LGS, as updated by Decree 209/2024); twice the national minimum wage for a SAS; no statutory minimum for an S.R.L., although capital must be adequate for the business.
Is a branch or a subsidiary better?
A subsidiary limits the parent's liability to its contribution and is the usual choice for operating businesses. A branch is part of the foreign company itself, must keep separate accounts in Argentina and makes the parent directly liable. Tax treatment also differs and should be modelled case by case.
Official sources
- Ley General de Sociedades 19.550 (consolidated text)argentina.gob.ar
- Ley 27.349, Title III – Sociedad por Acciones Simplificada (consolidated text)argentina.gob.ar
- IGJ General Resolution 4/2026 – foreign companies (PDF)argentina.gob.ar
- IGJ – official announcement of General Resolution 4/2026argentina.gob.ar
- IGJ General Resolution 11/2026 – incorporation and corporate purpose (PDF)argentina.gob.ar
- IGJ – official announcement of General Resolution 11/2026argentina.gob.ar
- IGJ – General Resolutions issued in 2026argentina.gob.ar
Related guides
This guide is general information about Argentine law as of the review date. It is not legal advice for a specific case, and rules—particularly foreign-exchange regulations—change frequently.