A melting pot of Latin American charm and European flair
With spectacular natural landscapes in Patagonia to vibrant city life in Buenos Aires, Argentina certainly has something to offer to everybody.
There is so much more to this vast country than its world-famous footballers, the tango, and delicious food. Boasting one of the largest economies in Latin America and home to an estimated 45 million people, Argentina is endowed with a vigilant workforce making it a place of interest for foreign investors and entrepreneurs.
Argentina is admirable not only in administration, business, and education but also in its culture and general welfare of its population. Due to its long history of immigration, the nation is often labelled as one of the most expat-friendly countries in the world. Argentina is also notorious for its European influences, and many will pick up on the European feel of many of its attractive cities.
There are numerous benefits that foreign investors will obtain if they start business in Argentina. One of the most notable advantages of setting up a business here is that Argentina is an active member of MERCOSUR (Southern Common Market). This makes it an attractive marketplace for global investors, as companies here have free access to trade agreements within Latin America with limited taxes and minimum legal requirements.
However, settling in Argentina can be confusing, particularly the process of applying for a visa which is known to be a complicated and drawn-out process. By partnering with a PEO company, such as Procorre Global, we can ensure that you and your valued workforce are in compliance with Argentina's latest employment regulations - giving your business more time to focus on what’s important.
Working in Argentina
Many foreign companies have already settled here as Argentina’s business culture involves significant existing foreign investment, highly proficient English speakers, and work habits that complement American work culture.
Minimum wage
As of 2023, the minimum wage in Argentina is ARS 65,427.00 per month. Wages in Argentina may not be as high as in most Western countries, but employees benefit from employment protection policies and a friendly working environment
Working hours
Normal working hours are a maximum of 8 per day and 48 per week. Lunch breaks are typically longer than in European countries and happen anytime between 12 pm and 2 pm for an hour or a 90-minute period. Outside of the big cities, lunch breaks tend to be longer, and many employees return home to have lunch and rest.
Some Argentinian workplaces and universities have started embracing siestas, such as Google and the University of Buenos Aires who have designated napping spaces to fight afternoon exhaustion.
Leave entitlement
The minimum statutory paid annual leave entitlement ranges from 14-35 days per year, depending on the seniority of the employee.
Female employees are entitled to 90 days' paid maternity leave, paid at their base salary rate. This is usually taken in the 45 days before giving birth and the 45 days afterwards. However, the employee can instead choose to take 30 days' leave before giving birth and 60 days' leave afterwards.
New fathers are entitled to 2 days of paid paternity leave, although some CBAs establish longer periods.
Public holidays
Argentina celebrates the following public holidays:
- New Year's Day
- Carnival Monday and Tuesday
- Day of Remembrance for Truth and Justice
- Day of the Veterans and Fallen of the Falklands War
- Good Friday
- Labour Day
- May Revolution
- Anniversary of the Passing of General Martín Miguel de Güemes
- General Manuel Belgrano Memorial Day
- Independence Day
- General José de San Martín Memorial Day
- Day of Respect for Cultural Diversity
- National Sovereignty Day
- Immaculate Conception Day
- Christmas
If a public holiday lands on a Thursday, the government will often declare the following day a holiday to allow for an extended weekend.
Visas
For people wanting to call this South American wonderland home, there are plenty of visa options.
Most employees planning to work in Argentina longer than 90 days will need a 23 A or 23 E visa. These are the two most common work visas.
23 A: the most commonly used Argentina work visa that covers the majority of workers and is valid for one year with the option to extend.
23 E: a specialised visa for highly qualified workers working in sectors such as science, technology, and upper management.
After just two years of legally living in Argentina, you can apply for citizenship.
The MERCOSUR visa is available for nationals of MERCOSUR member states who want to relocate to Argentina for 2 years.
Taxes
| Corporate tax rates | |
| ARS 0-5 million | 25% |
| ARS 5 million-50 million | ARS 1,250,000 + 30% on the amount that exceeds ARS 5 million |
| Above ARS 50 million | ARS 14,750,000 + 35% on the amount that exceeds ARS 50 million |
| Withholding tax | Dividend distributions: 7% Branch profit remittances: 7% |
Employee deductions for taxes range from 5% to 35% depending on income level.
Cultural information
The culture of Argentina is as varied as the country's geography. Most notably, their culture is relationship-driven, so it's extremely important for expats to network and build meaningful relationships if they want to succeed in the business world.
It should come as no surprise that football in Argentina is more than just a sport - it is a fundamental part of the culture, and one of their greatest passions. For generations, Argentinians of all ages have filled out stadiums and streets to celebrate victories and support one another during defeats.
Languages
The official language of Argentina is Spanish, spoken by the majority of the population. It is not unusual to hear Arabic, Italian, German, English, and French in some pockets of the country because of the extensive international migration. Buenos Aries also has its own slang language called "Lunfardo," which is heavily influenced by the Italian language.
English is also widely spoken throughout the country, especially in business circles, and it is a compulsory subject in state schools.
Religion
Laws and the constitution provide for freedom of religion and the right to practice freely one's faith. Although the majority of Argentinians consider themselves Christians, religious practice and affinity are declining, particularly among younger generations.
The Argentinian Market - Did you know?
- Legendary sportsman Lionel Messi has inspired millions across the world, so much so that government officials banned parents from naming their children Messi in the football star’s hometown.
- Argentina is home to the southernmost city in the world, Ushuaia. It is located on the island of Tierra del Fuego, which translates as Land of Fire.
- Arguably one of the most famous Latin American dances, the tango originated in the capital Buenos Aires during the 19th century. It was traditionally a popular dance among European immigrants, former slaves, and the working and lower classes.
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