On February 21, 2020 the Superintendency of Corporations for the City of Buenos Aires (the “Superintendency”) reinstated onerous disclosure requirements on foreign legal entities owning Argentine companies. These same rules apply also to legal entities registered in Argentina as a foreign branch.
These disclosure requirements had been in effect for several years when the Superintendency was under the helm of Ricardo Nissen, a renowned expert in Argentine corporate law who favors heavy-handed regulation as a means to assure foreign entities are not merely vehicles for tax evasion. These regulations were repealed in 2018 by the prior (Macri) administration, which sought to reduce the burden of doing business in Argentina. With the return of the Peronist government, Mr. Nissen has reassumed control of the agency and reinstated the disclosure requirements (the “Enhanced Disclosure Rules”).
The Enhanced Disclosure Rules apply…
