Argentina published Decree 105/2026 amending the RIGI investment incentive program by extending the application deadline to 8 July 2027, expanding oil and gas eligibility to onshore projects requiring a minimum investment of USD 600 million, redefining the technology sector "expansion" to include innovative products with 50% component differences and USD 250 million threshold, and clarifying tax benefits and foreign currency regulations.
Argentina’s Executive Branch published Decree 105/2026 in the Official Gazette on 18 February 2026, introducing a series of amendments to Decree 749/2024, which implemented the incentive regime for large investments known as the Régimen de Incentivo para Grandes Inversiones (RIGI).
The Decree entered into force on the date of publication.
Decree 105/2026 modifies and extends the Incentive Regime for Large Investments (RIGI). The decree formally prolongs the application period for the program by one year, starting in July 2026, to accommodate massive projects with long-term development cycles.
Key updates include expanding the eligibility for the oil and gas sector to include onshore developments and refining the definition of “expansion” for technology-driven industries. It also establishes specific minimum investment thresholds, such as USD 600 million for certain hydrocarbon projects and USD 200 million for offshore exploration.
Furthermore, the text clarifies tax benefits related to accelerated depreciation and dividend distributions while streamlining the currency exchange regulations for foreign capital contributions.
The key measures are as follows:
Accession deadline extension
The original legal framework (Decree 749/2024) established a two-year deadline to join the RIGI, starting from its entry into force on 8 July 2024.
Recognising that large-scale projects often require longer periods for structuring and evaluation, the National Executive Power has exercised its authority to extend this deadline by one additional year. Consequently, the period to apply for the regime will now extend for an additional year, starting from 8 July 2026.
Withholding tax and dividends
A 7% rate (or a more favourable one if applicable under general law) applies to dividends and remittances. This rate applies to distributions made seven years after the accession date, regardless of when the profit was originally earned.
The decree clarifies that when dividends must be sent abroad through a parent company (rather than directly from the dedicated RIGI branch) due to pre-existing contracts, the preferential rate still applies. In such cases, the titular company acts as the withholding agent for the proportion of profits attributable to the VPU (Single Project Vehicle).
Import exemptions for VPUs
The decree outlines import duty exemptions for Virtual Production Units (VPUs) on goods directly tied to their Investment Plans.
VPUs receive duty-free treatment for new capital goods (BK), spare parts, and IT/Telecom equipment (BIT). Goods outside these classifications may qualify for exemptions if deemed “technically essential” to the project, verified by independent engineering certification.
Raw materials and production inputs are explicitly excluded from these tariff benefits.
Oil and gas sectors
The decree expands and refines the activities included in the oil and gas sector. The regime now explicitly includes the exploitation and production of new onshore developments for liquid and gaseous hydrocarbons.
To qualify as a “new development,” the project must occur in areas that did not have a significant level of development at the time Law 27.742 was enacted and have no exploitation or production investments at the time of the RIGI application.
For these new onshore developments, the minimum investment is set at USD 600,000,000, aligning it with the threshold for gas projects intended for export. The minimum investment for the exploration, exploitation, and production of offshore hydrocarbons is set at USD 200,000,000, reflecting the sector’s high risk and capital intensity.
If RIGI-promoted activities coexist with non-RIGI activities in the same area, they must be separated and traceable via independent measurement systems.
Technology sectors
A new decree recognises that technology industries—including biotechnology, AI, robotics, and software—generate value through innovation rather than physical capacity expansion due to shorter product lifecycles.
For existing technology sector projects, “expansion” now encompasses development of new products that demonstrate technological or functional innovation with at least 50% component differences by economic value from current products.
These innovation-focused projects must meet a minimum investment threshold of USD 250,000,000 and produce goods with market lifecycles of 10 years or less, verified through independent technical certification.
Foreign currency computations
The decree clarifies how currency inflows are calculated for the purpose of accessing the foreign exchange (FX) market.
Beyond currency liquidated directly by the VPU, the system will now compute currency entered by shareholders, partners, or members of joint ventures (UTEs). This includes capital contributions and external financial debt (such as negotiable securities).
To be counted, these funds must be effectively destined for the Unique Project, registered in the accounts as such, and satisfy traceability procedures established by the Central Bank.
Suppliers and importers
The regulations regarding suppliers of goods and services have been adjusted to ensure they support RIGI projects without distorting the local market.
Suppliers can import inputs or intermediate goods for transformation into Capital Goods (BK) or IT/Telecom Goods (BIT), or import final BK/BIT goods for a RIGI project. Imported goods used in infrastructure works cannot exceed 50% of the total contract value.
The Secretariat of Industry and Commerce is designated as the authority to evaluate and resolve supplier adherence requests. Suppliers must provide a three-year currency flow report, and the Central Bank may intervene if a net demand for foreign currency suggests potential market distortion.
Administrative and procedural measures
The decree introduces structural changes to program oversight and participant withdrawal procedures. A dedicated Project Evaluation Committee will review VPU adhesion applications, while the Secretariat of Industry and Commerce processes Registry of Suppliers requests.
Suppliers may voluntarily exit the RIGI Registry after fulfilling obligations and resolving all legal proceedings. VPUs facing formal investigations receive a maximum of 30 business days to submit defence evidence.
Earlier, in August 2024, Argentina’s Executive Branch enacted Decree 749/2024, implementing regulations for the RIGI (Incentive Regime for Large Investments) under Law 27,742. The regime provides customs, tax, legal, and foreign exchange benefits to projects exceeding USD 200 million, targeting both domestic and international companies.
RIGI aims to create predictable, stable, and competitive conditions to attract substantial capital investments to Argentina.
