[Last updated: 1 February 2026, unless otherwise noted]
Generally, foreign companies wishing to issue securities and offer the same through the BYMA must comply with the same requirements applicable to the local issuers. When submitting a request to participate in a public offering, such companies are required to prove that they are not subject to any legal restriction or prohibition imposed by their country of incorporation.
In addition, when submitting a request to participate in a public offering, foreign issuers should evidence that: (i) they have one or more branches and/or permanent establishments in the country; (ii) they own non-current assets in other companies; and (iii) they have fixed assets in the country of incorporation of the company.
No special difference is made for registration or listing purposes based on whether the offering involves a primary or secondary listing.
General regime for foreign entities
The same requirements apply to local issuers and apply to foreign issuers wishing to issue securities in Argentina.
To apply for a primary or secondary listing, foreign entities must provide the following documents:
- Certified copy of the by-laws of the company and their subsequent amendments, if any.
- Certified copies of all legal provisions applicable to the company in its country of incorporation.
- Professional legal opinion signed by an attorney in the country of incorporation certifying that the company is not subject to any legal restriction or prohibition.
- Financial statements of the company corresponding to the last fiscal year, duly approved by the company. If the applicable law of the country of incorporation does not require the preparation of financial statements, supplementary documentation may be requested by the CNV.
- Unless otherwise provided in the company's by-laws, an audit committee shall be appointed by the board of the issuer. The audit committee will issue its own internal regulations, which shall be registered in the Public Registry of Commerce. Appointment of its members, as well as any modification to it shall be communicated by the issuer to the markets in which the shares of the issuer are traded, within three business days.
- The committee shall review the plans of the external and internal auditors, evaluate their performance and issue an opinion on the presentation of the annual financial statements. Please note that the CNV does not require any specific accounting/auditing standards.
- The ordinary shareholders' meeting of an entity making public offer of its securities shall designate an external auditor who will issue the audit report of its annual financial statements and for intermediate periods.
In addition, foreign entities shall meet the following requirements:
- Permanent establishment in Argentina.
- Indicate if the company has publicly listed securities outside Argentina and, if so, indicate the applicable requirements that must be met in such countries.
All documentation to be filed must be submitted in compliance with the requirements of the country of incorporation, and should have the corresponding apostille (Hague Convention 1961) or be legalized by the corresponding Ministry of Foreign Affairs. Additionally, all documentation must be translated into Spanish by a sworn public translator.
Special regime for foreign entities
The CNV may agree to lesser requirements for foreign companies already authorized to offer their securities to the public in: (i) countries which have entered into a cooperation agreement with Argentina; or (ii) countries whose regulations are considered by the CNV to reasonably protect local investors and ensure an adequate information regime.
Prospectus
Companies wishing to make a public offering of their securities must prepare a prospectus using a template provided by the CNV, in plain and understandable language. The prospectus must be signed by a person duly authorized by the issuer, describing in detail the placement efforts to be carried out.
In addition, the CNV may require the issuer to include in the prospectus additional information, warnings and/or considerations as are deemed necessary, or to provide additional documentation. Furthermore, where the company is issuing securities other than shares, the information included in the prospectus should be consistent with the nature of the security being offered.
A sufficient number of copies of the prospectus must be printed to cover the demand of potential interested parties and it must also be published in the Financial Information Gazette. For the purposes of the latter publication, the company may prepare a short version of the prospectus including a summary with all the information required by the CNV, without the need to include the complete financial statements. In such case, the complete version of the prospectus must be available for investors: (i) at the registered office of the issuer; (ii) if applicable, at the premises of the placing and distribution agents; or (iii) in any other place indicated by the issuer.
Finally, please note that it is not necessary to prepare a prospectus in the following cases: (i) issuance of shares for capitalization of reserves, accounting adjustments, profits or other special accounts recorded in the financial statements; (ii) issuance of shares with suspension of pre-emptive subscription rights; or (iii) issuance of shares by conversion or exchange of other securities.
Typical process and timetable for a listing of a foreign company on the BYMA