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  • Restricted stock and RSUs

    Securities

    As long as:

    • The offer is not advertised or publicized
    • The stock is not traded in Argentina
    • The offer is limited to employees
    • The offer is intended to compensate employees and not to raise capital, no securities law requirements apply

    Foreign exchange

    Since September 1, 2019, the Argentine government reenacted FX controls and regulations. These FX regulations are applicable to certain operations.  Notwithstanding there are no foreign exchange restrictions applicable to restricted stock or RSUs, local employees may face difficulties in purchasing the foreign currency if the options are in foreign currency, or to transfer money abroad.

    Tax

    Employee

    The employee is taxed on restricted stock upon grant and on RSUs upon vesting (may include personal assets tax).

    The employee is subject to a flat tax of 15 percent on any net gain resulting from the sale of the shares by Argentine Tax residents, or, alternatively, 13.5 percent on the gross sale price by non-residents.

    Employer

    Withholding & Reporting

    Tax withholding and reporting are required upon grant for restricted stock and upon vesting of RSUs.

    Deduction

    Argentine subsidiaries are allowed to deduct the amount reimbursed to the parent company for the cost of the benefits if a Reimbursement or Recharge Agreement is in place.

    Social insurance

    Social insurance contributions are generally payable by the employee and employer.

    Data protection

    Obtaining an employee's written consent for the processing and transfer of his or her personal data is the most common approach to comply with certain aspects of data protection requirements. The employer also is required to register any database that includes an employee's personal data with the Argentine privacy authorities.

    Labor

    Benefits received from restricted stock or RSUs may be considered part of the employment relationship and included in a severance payment if the awards are repeatedly granted to an employee. Upon involuntary termination of employment, an employee may be entitled to continued vesting and other rights with respect to his or her award. In order to reduce the risk of employee claims, the award agreement signed by an employee should provide, among other things, that vesting of restricted stock or RSUs ceases upon termination of employment, and that the plan and any awards under it are discretionary.

    Communications

    Although plan materials are not required to be translated into Spanish, it is recommended, to ensure that employees understand the terms of their awards. Award materials should be addressed to individual employees in order to avoid securities law requirements.

  • Stock options

    Securities

    As long as:

    • The offer is not advertised or publicized. 
    • The stock is not traded in Argentina.
    • The offer is limited to employees.
    • The offer is intended to compensate employees and not to raise capital, no securities law requirements apply.

    Foreign exchange

    Since September 1, 2019, the Argentine government reenacted FX controls and regulations. These FX regulations are applicable to certain operations.  Notwithstanding there are no foreign exchange restrictions applicable to restricted stock or RSUs, local employees may face difficulties in purchasing the foreign currency if the options are in foreign currency, or to transfer money abroad.

    Tax

    Employee

    The employee is taxed on the spread upon exercise (including personal assets tax, if applicable). 

    The employee is subject to a flat tax of 15 percent on any net gain resulting from the sale of the shares by Argentine Tax residents, or alternatively 13.5 percent on the gross sale price by non-residents.

    Employer

    Withholding & Reporting

    Tax withholding and reporting are required upon exercise.

    Deduction

    Argentine subsidiaries are allowed to deduct the amount reimbursed to the parent company for the cost of the benefits if a Reimbursement or Recharge Agreement is in place.

    Social insurance

    Social insurance contributions are generally payable by the employee and employer when an option is exercised.

    Data protection

    Obtaining an employee's written consent for the processing and transfer of his or her personal data is the most common approach to comply with certain aspects of data protection requirements. The employer is also required to register any database that includes an employee's personal data with the Argentine privacy authorities.

    Labor

    Benefits received from an option may be considered part of the employment relationship and included in a severance payment if options are repeatedly granted to an employee. Upon involuntary termination of employment, an employee may be entitled to continued vesting and other rights with respect to his or her option. In order to reduce the risk of employee claims, the award agreement signed by an employee should provide, among other things, that vesting of an option ceases upon termination of employment, and that the plan and any awards under it are discretionary.

    Communications

    Although plan materials are not required to be translated into Spanish, it is recommended, to ensure that employees understand the terms of their awards. Award materials should be addressed to individual employees in order to avoid securities law requirements.

  • Stock purchase rights

    Securities

    As long as:

    • The offer is not advertised or publicized. 
    • The stock is not traded in Argentina. 
    • The offer is limited to employees.
    • The offer is intended to compensate employees and not to raise capital, no securities law requirements apply.

    Foreign exchange

    Since September 1, 2019, the Argentine government reenacted FX controls and regulations. These FX regulations are applicable to certain operations. Notwithstanding there are no foreign exchange restrictions applicable to restricted stock or RSUs, local employees may face difficulties in purchasing the foreign currency if the options are in foreign currency, or to transfer money abroad.

    Tax

    Employee

    The employee is taxed on the spread upon purchase.

    The employee is subject to a flat tax of 15 percent on any net gain resulting from the sale of the shares by Argentine Tax residents, or, alternatively, 13.5 percent on the gross sale price for non-residents.

    Employer

    Withholding & Reporting

    Tax withholding and reporting are required upon purchase.

    Deduction

    Argentine subsidiaries are allowed to deduct the amount reimbursed to the parent company for the cost of the benefits if a Reimbursement or Recharge Agreement is in place.

    Social insurance

    Social insurance contributions are generally payable by the employee and employer when the shares are purchased.

    Data protection

    Obtaining an employee's written consent for the processing and transfer of his or her personal data is the most common approach to comply with certain aspects of data protection requirements. The employer also is required to register any database that includes an employee's personal data with the Argentine privacy authorities.

    Benefits received from a purchase right may be considered part of the employment relationship and included in a severance payment if purchase rights are repeatedly granted to an employee. Upon involuntary termination of employment, an employee may be entitled to continued participation in the plan. In order to reduce the risk of employee claims, the offer document signed by an employee should provide, among other things, that participation in the plan ceases upon termination of employment, and that the plan and any awards under it are discretionary.

    In light of restrictions on payroll deductions, alternative arrangements may be necessary for contributions to the plan.

    Labor

    Not applicable.

    Communications

    Although plan materials are not required to be translated into Spanish, it is recommended, to ensure that employees understand the terms of their awards. Award materials should be addressed to individual employees in order to avoid securities law requirements.

  • Key contacts
    Marcelo Etchebarne
    Marcelo Etchebarne
    Managing Partner DLA Piper (Argentina) [email protected] T +54 11 4114 5500 View bio

Key contacts

Argentina

Marcelo Etchebarne
Marcelo Etchebarne
Managing Partner DLA Piper (Argentina) [email protected] T +54 11 4114 5500 View bio

Australia

Kelly Morrison
Kelly Morrison
Partner DLA Piper Australia [email protected] T +61 7 3246 4126 View bio

Austria

Stephan Nitzl
Stephan Nitzl
Partner DLA Piper Austria [email protected] T +43 1 531 78 1981 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Belgium

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Frederic Brasseur
Frederic Brasseur
Lead Lawyer DLA Piper UK LLP [email protected] T +32 (0) 2 500 1544 View bio

Brazil

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Camila Caetano
Camila Caetano
Partner Campos Mello Advogados [email protected] T +55 21 2217 2047 View bio

Canada

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Richard J. Nixon
Richard J. Nixon
Partner DLA Piper Canada [email protected] T +1 416 365 3521 View bio
Allen Soltan
Allen Soltan
Partner DLA Piper Canada [email protected] T +1 604 643 2970 View bio

Chile

Luis Parada
Luis Parada
Partner DLA Piper Chile [email protected] T +56 2 2798 2606 View bio
Amory Heine
Amory Heine
Partner DLA Piper [email protected] T +562 2798 2650 View bio

China

Tina Xia
Tina Xia
Partner DLA Piper Hong Kong [email protected] T +852 6086 0307 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Colombia

Juan Manuel de la Rosa
Juan Manuel de la Rosa
Partner DLA Piper Martinez Beltran [email protected] T +57 317 366 1933
Felipe Quintero Serrano
Felipe Quintero Serrano
Partner DLA Piper Martinez Beltran [email protected] T +57 317 441 4422

Czech Republic

Miroslav Dubovský
Miroslav Dubovský
Country Managing Partner DLA Piper Czech Republic [email protected] T +420 222 817 500 View bio

Denmark

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Nina Wedsted
Nina Wedsted
Partner DLA Piper Denmark [email protected] T +45 3334 0050 View bio

Ecuador

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Dr. Josemaría Bustamante
Dr. Josemaría Bustamante
Senior & Equity Partner Bustamante Fabara [email protected] T +593-995231025 View bio

Egypt

Tamer El Hennawy
Tamer El Hennawy
Matouk Bassiouny & Hennawy [email protected]
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Finland

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Antti Paloniemi
Antti Paloniemi
Partner DLA Piper Finland Attorneys Ltd. [email protected] T +358 40 586 1051
Riikka Autio
Riikka Autio
Partner DLA Piper Finland Attorneys Ltd. [email protected] T +358 5 0344 6582

France

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Germany

Dr. Konrad Rohde
Dr. Konrad Rohde
Partner DLA Piper UK LLP [email protected] T +49 69 271 33 340 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Greece

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Konstantinos S. Issaias
Konstantinos S. Issaias
KYRIAKIDES GEORGOPOULOS Law Firm [email protected]

Hong Kong, SAR

Anderson Lam
Anderson Lam
Partner DLA Piper Hong Kong [email protected] T +852 2103 0722 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Hungary

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

India

Sajai Singh
Sajai Singh
J. Sagar Associates (JSA) [email protected]
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Indonesia

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Ireland

David Carthy
David Carthy
Country Managing Partner, Ireland DLA Piper Ireland [email protected] T +353 1 436 5460 View bio
Éanna Mellett
Éanna Mellett
Partner DLA Piper Ireland [email protected] T +353 1 436 5468 View bio
Maura Dineen
Maura Dineen
Partner DLA Piper Ireland [email protected] T +353 1 436 5459 View bio

Israel

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Shachar Porat
Shachar Porat
Herzog Fox & Neeman [email protected]

Italy

Fabrizio Morelli
Fabrizio Morelli
Partner DLA Piper Italy [email protected] T +39 06 68 880 1 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Japan

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Masahiko Ishida
Masahiko Ishida
Country - Managing Partner Japan DLA Piper Tokyo Partnership [email protected] T +81 3 4550 2808 View bio

Malaysia

Andreanna Ten
Andreanna Ten
Partner Zaid Ibrahim & Co (in association with KPMG Law) Kuala Lumpur, Malaysia [email protected] T +603 2087 9925
Kellie Allison Yap
Kellie Allison Yap
Partner Zaid Ibrahim & Co (in association with KPMG Law) Kuala Lumpur, Malaysia [email protected] T +603 2087 9907
Yong Hon Cheong
Yong Hon Cheong
Partner Zaid Ibrahim & Co (in association with KPMG Law) Kuala Lumpur, Malaysia [email protected] T +603 2087 9963

Mexico

Edgar Romo
Edgar Romo
Partner DLA Piper Gallastegui y Lozano [email protected] T +52 55 5261 1858 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Netherlands

Roderik Bouwman
Roderik Bouwman
Partner DLA Piper Netherlands [email protected] T +31 (0)20 5419 894
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

New Zealand

David Johnston
David Johnston
Special Counsel DLA Piper New Zealand [email protected] T +64 9 300 3812 View bio

Nigeria

Samuel Salako
Samuel Salako
Partner OLAJIDE OYEWOLE LLP [email protected] T +234 1 279 3852
Olufunke Fawehinmi
Olufunke Fawehinmi
Legal Director OLAJIDE OYEWOLE LLP [email protected] T +234 (01) 279 3670 View bio

Norway

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Philippines

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Poland

Agnieszka Lechman-Filipiak
Agnieszka Lechman-Filipiak
Partner DLA Piper Poland [email protected] T +48 22 540 74 61 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Portugal

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Nuno Azevedo Neves
Nuno Azevedo Neves
Partner DLA Piper ABBC [email protected] T +351 21 358 36 20 View bio
Ana Isabel Vieira
Ana Isabel Vieira
Senior Associate DLA Piper ABBC [email protected] T +351 21 358 36 44 View bio

Russia

Saudi Arabia

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Singapore

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Slovak Republic

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
JUDr. Dr. Michaela Stessl
JUDr. Dr. Michaela Stessl
Advokátka/ Country Managing Partner DLA Piper Slovak Republic [email protected] T +421 2 5920 2122 View bio

South Africa

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

South Korea

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Spain

María Alonso
María Alonso
Legal Director DLA Piper Spain S.L.U. [email protected] T +34 91 788 7315 View bio

Sweden

Erik Björkeson
Erik Björkeson
Partner DLA Piper Sweden [email protected] T +46 73 518 81 04 View bio

Switzerland

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Taiwan, China

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Thailand

Timothy Tan
Timothy Tan
Partner DLA Piper (Thailand) Limited [email protected] T +662 686 8550
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Turkey

Maral Minasyan
Maral Minasyan
Partner Kolcuoğlu Demirkan Koçaklı Attorneys at Law [email protected] T +90 (212) 355 99 00
Ezgi Hamamci
Ezgi Hamamci
Associate Kolcuoğlu Demirkan Koçaklı Attorneys at Law [email protected] T +90 (212) 355 99 00
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Ukraine

Anastasiya Bolkhovitinova
Anastasiya Bolkhovitinova
Partner in the Kyiv office of Kinstellar The head of the local TMT sector, and the co-head of the firm-wide Telecommunications [email protected] T +380 44 490 9567

United Kingdom

Lynda Finan
Lynda Finan
Legal Director DLA Piper UK [email protected] T +44 (0) 113 369 2439 View bio
Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio
Nick Hipwell
Nick Hipwell
Partner DLA Piper UK [email protected] T +442 0 77966131 View bio

Venezuela

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio

Vietnam

Dean Fealk
Dean Fealk
Partner DLA Piper US [email protected] T +1 415 836 2521 View bio