On February 19, 2026, the Government of Argentina published Decree No. 105/2026 (“Decree 105”), which amends the regulatory framework of the Large Investments Incentive Regime (“RIGI”) set forth in Decree No. 749/2024 (“Decree 749”) (please see our previous comments on these regulations here, here and here).
The key takeaways of Decree 105 are summarized below:
1. Extension of the opt-in period to RIGI
Decree 105 extends, on a one-time basis, the deadline to adhere to the RIGI until July 8, 2027.
2. Changes in technology and oil & gas
2.1. Technology sector
The list of activities is expanded, defining the sector as activities whose primary purpose is the innovative production of technological goods and services, including biotechnology and nanotechnology; mobility based on new propulsion technologies, fully electric and/or hybrid, and energy-transition technologies; aerospace and satellite; nuclear; software; robotics; artificial intelligence; and armaments and defense.
2.2. Oil and gas sector
Decree 105 broadens the scope of the oil and gas sector by incorporating the development and production of new onshore liquid and gaseous hydrocarbon projects. Additionally, Decree 105 amends the oil and gas minimum investment thresholds, setting US$ 200,000,000 for offshore exploration and production, while establishing US$ 600,000,000 for new onshore developments.
3. Expansions
New provisions are established for the technology sector and any expansions in connection thereof. Pursuant to Decree 105, an expansion for a pre-existing project shall be those by which:
- The new product incorporates technological or functional innovation, differing by at least 50% of its components by economical value;
- the Project’s minimum investment amount is at least US$ 250,000,000; and
- the new product has a market useful life of ten (10) years or less, as evidenced by a Useful Life Cycle Technical Report issued by a competent, independent professional.
4. RIGI suppliers and imports
Decree 105 redefines the scope of goods that RIGI‑enrolled suppliers may import to supply RIGI Projects, expressly including those used to manufacture or produce another finished good required for infrastructure works.
Decree 105 also adds a three-year trade balance and foreign exchange cash flow to the filing requirements for suppliers seeking to register as a RIGI supplier with imported goods. If the filing shows a net foreign exchange demand in the official market, the Enforcement Authority must involve the Central Bank of the Argentine Republic (“BCRA”) to assess potential distortions based on the project’s consolidated foreign exchange flow.
5. Tax and Financial Changes
5.1. Accelerated Depreciation for Investments
Decree 105 keeps the optional structure and the 1.6 coefficient set by Decree 749, but broadens eligibility to certain infrastructure works and processing and treatment plants (including integrated capital goods), subject to professional technical certification of the depreciation method. It also extends the treatment to investments for modifications/expansions of approved projects, and requires the Enforcement Authority to notify ARCA once authorized.
5.2. Dividends and profit distributions
Under Decree 749, the RIGI special rate applied to dividends and profits distributed by the SPV once seven (7) years had elapsed from enrollment, regardless of when the underlying profits were generated, with SPV-sourced amounts deemed distributed first, including for non-computable amounts upon onward distribution to individuals or undivided estates.
Decree 105 keeps the provisions of Decree 749 but introduces several clarifications:
- Confirms a seven percent (7%) rate, unless a more favorable general income tax rate applies;
- Expands the scope to any dividend, dividend-equivalent profit or remittance linked to the Project;
- For non-computable amounts, the rate applies only upon onward distribution to individuals or undivided estates, whether resident or foreign, up to the amount previously distributed by the SPV; and
- It also regulates remittances through the Sole Purpose Branch, requiring withholding only on the portion of profits attributable to the SPV.
5.3. Tax and customs exemptions
Decree 105 maintains the exemption for qualifying capital goods and IT/telecom goods of Decree 749, but tightens the exception: importing non-listed goods now requires the SPV to submit an independent engineer’s certification evidencing that the goods are technically essential and operationally available.
6. Foreign exchange market
For purposes of the foreign exchange market entry requirement under Section 100 (c) of Decree 749, Decree 105 clarifies that, in addition to foreign currency brought in from abroad and sold in the foreign exchange market directly by the SPV, it also includes funds from non-resident contributions and external financial indebtedness, including securities issuances, brought in and sold by members or parties to temporary joint ventures or other associative arrangements acting as a RIGI-enrolled SPV, as well as by the SPV’s shareholders and partners, and the company holding a Sole Purpose Branch, provided are destined to the single-project and comply with the BCRA regulations.
7. Procedural changes
7.1. Suppliers Registry
Decree 105 allows the voluntarily withdrawal from the RIGI Suppliers Registry, provided that the supplier submits a certification confirming that, at such time, it is in full compliance with the obligations arising from completed operations and that no final breaches or sanctions are outstanding.
7.2. Project Evaluation Committee
Registry requests filed by suppliers involving imported goods will be referred to the Secretary of Industry and Commerce, which will act as the competent authority for its review and decision.
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For additional information, please contact Nicolás Eliaschev, Javier Constanzó, Leonel Zanotto, Matías Castrillón, Victoria Barrueco, or Fermín Bartos.