The Law No. 26.737 limits the amount of rural land foreigners can purchase in Argentina and subjects such acquisitions to an authorisation certificate issued by the National Registry of Rural Lands. "Rural land" is defined as all land that is outside of an urban area. Total foreign ownership of rural land cannot exceed 15% of Argentina's total land mass, and foreign individual owners cannot own more than 1 000 hectares in "core areas". Foreign legal entities are defined as any legal entity registered as an owner of rural lands (whether incorporated in Argentina or abroad) in which foreign individuals or legal entities, directly or indirectly, control the majority vote. Since 2016, restrictions no longer apply with regard to land located in industrial zones, industrial areas or industrial parks. These lands are no longer considered to determine the hectares of rural land owned by a foreign person or entity.
"ARTICLE 1 - This law governs the entire territory of the Argentine Nation, as a matter of public order.
It must be observed according to the respective jurisdictions, by the authorities of the federal, provincial and municipal governments, and will apply to all natural and legal persons who, by themselves or through a third party, own rural lands, whether for agricultural or forestry uses or production. , tourist or other uses.
For the purposes of this law, rural lands shall be understood to be any property located outside the urban ejido, regardless of its location or destination.
[...]
ARTICLE 3 - For the purposes of this law, foreign ownership of the property or possession of rural lands shall be understood as any acquisition, transfer, assignment of possessory rights, whatever the form, denomination imposed by the parties, and extension temporary of the same, in favor of:
a) Natural persons of foreign nationality, whether or not they have their real domicile in the territory of the Argentine Nation, with the exceptions established in article 4 of this law;
b) Legal persons, according to the framework provided in article 32 of the Civil Code, constituted in accordance with the corporate laws of the Argentine Nation or abroad, whose capital stock, in proportion greater than fifty-one percent (51%), or in proportion necessary to form majority corporate will regardless of the shareholding percentage, whether owned by natural or legal persons, of foreign nationality, under the conditions described in the preceding paragraph. [...]
ARTICLE 8 -The limit to all ownership of domain or possession of rural lands in the national territory is established at fifteen percent (15%), with respect to the persons and cases regulated by this chapter. Said percentage will also be computed on the territory of the province, municipality, or equivalent administrative entity in which the rural property is located.
ARTICLE 9 - In no case may natural or legal persons of the same foreign nationality exceed thirty percent (30%) of the percentage assigned in the preceding article to foreign ownership or possession of rural lands.
ARTICLE 10. -The rural lands of the same foreign owner may not exceed one thousand hectares (1,000 ha) in the core zone, or equivalent area, depending on the territorial location.
[...]
ARTICLE 14. - The National Registry of Rural Lands is created within the scope of the Ministry of Justice and Human Rights, with integration of the Ministry of Agriculture, Livestock and Fisheries of the Nation, which will be the enforcement authority with the following specific functions: [...]
c) Issue the authorization certificates for all acts by which property or possession rights are transferred over rural lands in the cases covered by this law. The authorization certificates will be regulated by the regulations of this law and will be processed by the notary public or judicial authority involved; [...]" (Law No. 26.737 on Rural Land (22 December 2011), Articles 1, 3, 8, 9, 10 and 14 [google translation])
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"ARTICLE 2 - [...]
2.2. Counting of rural land area in special cases [...]
(viii) Legal persons considered foreign according to Law No. 26,737: The area must be computed to the legal person considered foreign according to Law No. 26,737, owner of the domain of rural lands. In addition, for the sole purpose of computing the limit provided for in Article 10 of Law No. 26,737, the area must be computed to the foreign controlling human or legal person in proportion to their holdings, or to the foreign controlling human or legal persons in case of control jointly, or to foreign human or legal persons in the event that there is no control.
ARTICLE 3 - 3.1. For the purposes of Article 3, subsection b) of Law No. 26,737, a foreign legal entity shall be understood to be one in which foreign persons -human and / or legal-, directly or indirectly, form the majority will, regardless of their social participation. It is presumed, unless proven otherwise, that in the event that a foreign person - or more than one in the case of joint control - is the owner of more than FIFTY-ONE PERCENT (51%) of the capital stock of a legal entity, said person legal entity will be considered foreign for the purposes of Law No. 26,737.
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ARTICLE 14. - 14.1. For the purposes of article 14, subsection c) of Law No. 26,737, the notary or judicial authority involved must request from the NATIONAL REGISTRATION OF RURAL LANDS the authorization certificates for the acts of transfer of ownership of rural lands in favor of human persons or legal requirements reached by law. The request for the authorization certificate must contain the information that the NATIONAL REGISTRATION OF RURAL LANDS determines for each case, and will be made by the interested parties or professionals involved, who must accompany the duplicate of the cadastral plan and the corresponding report of ownership of the object property transfer.
The qualification certificate will have a validity period of ONE HUNDRED AND TWENTY (120) days computed from its issuance.
The notary public or professional involved must notify the NATIONAL REGISTRATION OF RURAL LANDS the granting of the act within the period of TWENTY (20) days of authorization, in accordance with the form determined by said Registry.
In addition, within said period, the notary public must communicate the domain transfers that he had authorized, granted by foreigners in favor of persons not covered by Law No. 26,737.
14.2. Authorization certificate should not be requested in the following cases: [...]
(iii) Transfer of ownership of rural lands that, regardless of their cadastral nomenclature, are located within an "Industrial Zone", "Industrial Area" or "Industrial Park". In addition, said area will not be computed for the purposes of the limits set by articles 8 to 10 of Law No. 26,737. [...]" (Decree No. 274/2012 approving the regulation of Law No. 26.737 on Rural Land (28 February 2012), as amended by Decree No. 820/2016 of 30 June 2016, Articles 2, 3 and 14 [google translation])
Law No. 26.737 on Rural Land (22 December 2011), as amended by Regulatory Decree 820/2016 of 30 June 2016, Articles 1, 3, 8, 9, 10 and 14
Decree No. 274/2012 approving the regulation of Law No. 26.737 on Rural Land (28 February 2012), as amended by Decree No. 820/2016 of 30 June 2016, Articles 2, 3 and 14
[<a href="http://servicios.infoleg.gob.ar/infolegInternet/verNorma.do?id=192150">Law</a>],[<a href="http://servicios.infoleg.gob.ar/infolegInternet/verNorma.do?id=194378">Decree</a>]