Argentina restructures legal framework

The country has announced a set of measures to modernise its legal framework governing entrepreneurship and company formation.

Mauricio Macri, president of Argentina, amd Mariano Mayer, national secretary of entrepreneurship, have announced measures to modernise the country's laws around startups, according to TechCrunch.

The so-called Ley del Emprendedor ("Entrepeneur's Law") would, among other things, make it possible for entrepreneurs to register and open a new startup online within 24 hours.

Ley de Sociedades de Beneficio de Interés Colectivo ("Law for Companies of Collective Benefit and Interest") meanwhile would formally recognise businesses governed by sustainable, environmentally-friendly or social impact policies. It would be the region's first such law.

The government is also looking at the creation of 10 funds – three of these would receive $30m by year's end – that would invest in local startups. Additionally, Argentina's executive hopes to pass legislation that would legalise crowdfunding.

The measures would follow in the footsteps of similar ongoing initiatives in neighbouring Brazil and in Mexico City.

See more from this Government Report: Argentina

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