Investment regulation - Argentina
There are applicable limits for foreign investments regarding media and communication sector companies under Argentine laws.
Foreign investors can invest in up to 30% of the capital and votes of an Argentine media and communications entity. Media and communication companies comprise newspapers, magazines, publishing companies, broadcasting services, production of visual and digital contents, advertising companies, and internet providers. In the particular case of broadcasting companies, no foreign individual can directly purchase stock.
Some limits are applicable on gas and energy sector companies for local and foreign investors.
Transfer and repatriation of capital
Effective 17 December 2015, the Central Bank introduced some modifications (Communication “A” 5850 and Resolution 3/2015) on foreign exchange regulations applicable to foreign investors in Argentina. Please see the Creation Link Guide - Argentina for further information.
Clearing and settlement restrictions
On 29 December 2015, the Comision Nacional de Valores (CNV) published Resolution number 651/15 and the Central Bank of Argentina (BCRA) published Communications "A" 5861 and "A" 5864 , removing the "three business days" holding period, that local brokers had to comply with when transferring securities from a local account at Caja de Valores S.A. or CRYL to an international central depository or to the local comitente account of such international central depository.