On April 12, 2017, the Executive published Decree Law No.
252/2017 on the Official Gazette by which Law 27,349 was enacted
(the "Entrepreneurs´ Law" or the "Law").
This Law introduces mechanisms that simplify the process of
creation and development of enterprises, as well as tax benefits
and the creation of funds for their financing.
Nowadays, the process for the creation of an enterprise lasts
between 45 and 60 days in addition to the related high costs. In
this sense, the Entrepreneurs´ Law facilitates the opening of
small enterprises introducing a new legal concept: the
"Simplified Joint-Stock Company". So, the enterprise may
be created via Internet in 24 hours. This includes the immediate
opening of a simplified bank account and the creation of a Tax
Identification Code (CUIT) issued by the Argentine Tax Authorities
(AFIP).
