The Treasurer’s Guide to Trade Finance

Argentina

Bank accounts

ƒ Resident companies can hold local currency
(ARS) bank accounts outside Argentina.

ƒ Resident companies can hold foreign currency
bank accounts within and outside Argentina.

ƒ Non-resident companies can hold local
currency bank accounts within and outside
Argentina.

ƒ Resident and non-resident companies

can hold USD and EUR-denominated

time deposits and, with prior approval

from the BCRA, deposit accounts in other

foreign currencies as long as identification

requirements are met.

Argentina imports exports

market to stabilise the peso exchange rate.

ƒ The BCRA establishes foreign exchange
regulations.

ƒ The BCRA authorises financial institutions
for the settlement of certain types of forward
contracts and other derivatives transactions
involving non-domestic financial institutions.
Different exchange controls apply to different
types of financial institution.

ƒ Individuals exporting over the equivalent of
USD 10,000 in foreign currency are required
to gain prior approval from the BCRA.

ƒ Export proceeds are required to be fully
repatriated within15, 90 or 360 consecutive
days from the date of shipment depending
on the goods or services exported, and sold
in the foreign exchange market within 15
business days from the date of collection
abroad. An extension to the repatriation
period may be granted in certain cases.

ƒ All exchange transactions must be made
through authorised entities, including banks,

exchange agencies, houses or offices, and

financial companies.

ƒ Proceeds from invisible transactions

and current transfers are required to be

repatriated and sold in the foreign exchange

market within 15 business days.

ƒ Argentina requires financial credits from a

non-resident to a resident to be repatriated

and sold in the foreign exchange market.

There is a minimum indebtedness period of

one year.

ƒ Financial credits to non-residents from

residents are generally capped at

USD 2 million per month. Investments

exceeding the cap require BCRA approval.

ƒ Businesses and individuals are required

to obtain prior authorisation from AFIP, the

federal tax agency, in order to purchase

foreign currency. The sale of foreign

currency to non-residents and credit and

debit cards transactions outside Argentina

are exempt from the requirement.

Trade information

Key trading partners

Imports by origin

Brazil 28.4%

EU 16.1%

China 15.1%

USA 10.7%

Mexico 3.4%

Other 26.3%

Source: WTO, September 2012

Exports by destination

Brazil 20.7%

EU 16.9%

China 7.4%

Chile 5.8%

USA 5.1%

Other 44.1%