Overview
- The Milei government formally transmitted a draft Ley General de Sociedades to the National Congress, which was announced on Friday and will enter the parliamentary agenda for debate in early June.
- The proposal shifts power to company bylaws by making many statutory rules supplementary so that the company statute will govern internal organization and operations.
- The draft allows full digital corporate life, including electronic domicile, digital books, remote assemblies and company formation by digital signature.
- Companies could choose foreign substantive law for internal disputes and include arbitration clauses in their statutes, a change aimed at aligning Argentina with international business centers.
- The text creates new entities such as 'Sociedades Automatizadas' and recognized DAOs, introduces convertible investment instruments, default indefinite director mandates and easier intra‑group absorptions, raising fresh questions about governance, liability and regulatory oversight.