Through the enactment of Resolution 15/2024, the local Office of Corporations has modified the rules that govern the participation of foreign companies in Argentine subsidiaries, particularly in those companies registered in the City of Buenos Aires.
In this regard, the new Resolution provides the following amendments to the outstanding rules regarding foreign companies:
It will not be necessary to prove the ownership of assets located abroad to register branches or permanent representations of companies incorporated abroad, or for registration for the purposes of participating in local companies.
The obligation for a company registered according to article 123 of the General Companies' Law in another province to re-register in Buenos Aires is eliminated. In other words, if the company is registered in any other province, said registration is valid in Buenos Aires.
The registration regime for the appointment and termination of legal representatives of foreign companies is simplified.
The annual information regime (RIA) applicable to foreign companies is eliminated.
The Registry of Isolated Acts and the obligations associated with said registry are eliminated.
The registration of off-shore companies is authorized on a restricted basis.
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