As part of its ambitious economic liberalization program, the Argentine government has formally entered Phase 3 of its economic plan with the elimination of exchange controls and the implementation of far-reaching regulatory reforms. The Central Bank of Argentina (BCRA) made this official through Communication “A” 8226 and Decree 269/2025, both effective as of April 14, 2025.
🔍 Key Highlights:
Access to Foreign Currency: Residents may now purchase and hold foreign currency (for savings or deposits) without prior authorization from the BCRA.
Repatriation of Dividends: Financial institutions may process transfers abroad for profits and dividends to non-resident shareholders, based on audited financial statements from fiscal year 2025 onward.
Import Flexibility:
- Import payments may now be made without minimum waiting periods.
- The SIRA/SIRASE system is eliminated, and access to the FX market is permitted from the time goods are cleared for domestic use, without minimum holding periods.
- For advance payments on capital goods, access to the market will be allowed for up to 30% of the FOB value, with a cap of 80% for the total of advance, sight, and unregistered debt payments.
- Services contracted from abroad may be paid as they accrue, except for transactions between related parties, which must observe a minimum 90-day delay.
- SMEs (MiPyMEs) will have access to immediate payment for goods shipped as of April 14, 2025.
- For capital goods, advance payments of up to 30% of the FOB value are permitted, and up to 80% in total (including debt), provided there are no tariff restrictions.
Service Payments:
- Payments for services provided by unrelated foreign parties may be made immediately.
- Payments to related parties must observe a 90-day delay.
Market Transactions: Restrictions on the buying and selling of securities in foreign currency have been relaxed.
Simplified Documentation: Declarations for transactions prior to April 11, 2025, are no longer required to access the FX market.
⚖️ Legal and Business Implications
These measures represent a substantial easing of Argentina’s foreign exchange regime, facilitating:
- The repatriation of capital and dividends
- Cross-border M&A and project financing
- More agile import/export operations
- Renewed confidence among foreign investors
This new phase aims primarily at sustained inflation reduction. At the same time, the lifting of exchange restrictions is intended to stimulate economic activity, encourage investment, promote job creation, and increase productivity—ultimately reinforcing domestic savings and private sector credit.
Our firm is actively assisting clients in adapting to this new landscape and identifying strategic opportunities across sectors.
These regulations came into force on April 14, 2025.
If you would like to receive our detailed brief on Communication “A” 8226 or discuss how these changes may impact your operations, please don’t hesitate to contact us.
