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Sumary
The Argentine Congress approved Act No. 26.994 (New Civil and Commercial Code), which entered into force on 1 August 2015. The Code included amendments to the Companies Act 19.550 (Annex II in Act No. 26.994). One of the main modifications regarding corporate matters is the creation of a new category of corporate structure called “Sociedades incuidas”. This type of corporation is more flexible than traditional permitted types of corporate structures available for association. Moreover, the new legal standard entitles “Sociedades incluidas” even to register goods in the Real Estate Registry Office. This regime is applied to Companies that do not comply with mandatory registration and has been modified to recognize the terms and conditions agreed by the partners, in connection with relationships between the partners and with third parties affected by the terms and conditions. Consequently with this amendment, businessmen are encouraged to link with third parties fairly and transparently. |
