ANNOUNCEMENT 17 Aug 2011In August 2011, the government of Argentina announced a change for the labour market access of foreign workers.
NUMBER OF INTERVENTIONS
Fragomen, Global Client Alert of 31 August 2011: http://www.fragomen.com/newsresources/xprNewsDetailFrag.aspx?xpST=GlobalAlerts&news=1305
As of 17 August 2011, employers in Argentina are no longer required to submit company balance sheets when registering with the Registro Nacional Unico de Requirentes Extranjeros (RENURE).
According to the law firm Fragomen, an entity in Argentina must register with RENURE and have a unique corporate identification number to sponsor foreign nationals for work visas. The sponsoring employer's original Certificate of Registration, or a notarized copy, is a required supporting document for all work visa applications. Employers must also update their RENURE file annually.
It has been argued that employers with operations in Argentina should benefit from this development. Completing the RENURE registration process is one of the more complicated and time intensive parts of Argentina's immigration process, and having to present balance sheets was one of its more onerous requirements. Not having to submit balance sheets should simply the process for employers.