The Public Registry of Commerce of the city of Buenos Aires- Inspección General de Justicia (IGJ)- published General Resolution 09/2015 in the Official Gazette of the Argentine Republic, in which, among other measures, IGJ demands local, foreign, binational companies, association contracts and trusts to inform their final beneficiary owner. This must be submitted once per calendar year, starting November 2, current to December 31, 2016, exceptionally determined, in order to regularize the required periodicity since the following year.

Final beneficiary is defined as the individual who has at least 20% of the capital stock or the voting rights of a legal entity or by any other means exercises the final, direct or indirect control over a legal entity.

This must be reported by filing an affidavit, signed by the legal representative of the entity, or the beneficiary itself, whose signature must be certified by Public Notary and, if signed abroad, it must be legalized or with the apostille of the Ministry of Foreign Relations.

The affidavit must be submitted with the PRC in the first opportunity in which the filing for registration of any corporate act is requested, being sufficient proof to mention its compliance in subsequent procedures that are performed within the same calendar year.

It could also be filed when the annual informative regime is submitted in the case of foreign companies.

In the case of trust agreements, the final beneficiary /ie s owner/s of the trustor, and the trustee should be individualized , and of the beneficiary/ies and the final trust beneficiary, if determined.

In the event of association contracts, the final beneficiary / ies owner/s of the entities who enter into such contracts should be individualized.