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23 March 2026

Argentina extends the Incentive Regime for Large Investments application period and amends its regulations

  • Decree No. 105/2026 extends the deadline to apply for the Incentive Regime for Large Investments (RIGI) until 8 July 2027.
  • The Decree also amends the RIGI regulations to refine technical definitions and eligibility criteria.
  • Sector-specific changes are introduced, particularly for oil and gas and technology projects, including updated investment thresholds.
  • The amendments reinforce the RIGI as a central pillar of Argentina's investment promotion framework, while providing additional clarity and operational precision to its implementation.
  • Multinational groups and investors evaluating or structuring large-scale projects in Argentina should consider reassessing their investments in light of these changes.
 

Executive summary

On 19 February 2026, the Argentine Executive Branch enacted Decree No. 105/2026 (the Decree), published in the Official Gazette, introducing significant amendments to the regulatory framework of the Incentive Regime for Large Investments (Régimen de Incentivo para Grandes Inversiones — RIGI), originally established by Law No. 27,742 and regulated by Decree No. 749/2024. (For background, see EY Global Tax Alerts, Argentina enacts Bases Law and Tax Package, dated 8 July 2024; Argentina publishes decree implementing Incentive Regime for Large Investments, dated 26 September 2024; and Argentina publishes transfer pricing regulations for transactions involving Sole Purpose Vehicles in framework of Incentive Regime for Large Investments, dated 6 November 2024.)

The Decree extends the deadline to apply to the RIGI by one additional year, and introduces targeted regulatory adjustments, particularly affecting the oil and gas and technology sectors, as well as certain operational and investment thresholds.

The key amendments introduced by the Decree are listed below.

RIGI application period

The Decree exercises the authority granted to the Executive Branch to extend, for one additional year, the deadline to apply for the RIGI. The application period will now remain open until 8 July 2027.

Oil and gas sector

The Decree introduces several relevant changes for the oil and gas sector. Specifically, the Decree provides for the inclusion of new onshore upstream projects focused on the production of liquid and gaseous hydrocarbons, subject to objective criteria such as the area's development level and the absence of prior production investments.

The Decree also adjusts the minimum investment amounts for certain projects, including:

  • Reducing minimum investment to US$200m for offshore exploration and production projects
  • Setting minimum investment at US$600m for new onshore upstream projects

In addition, the Decree establishes segregation and traceability requirements for situations in which there are RIGI and non-RIGI activities in the same geographical area where hydrocarbons activities are being performed.

Technology sector — expansion projects

For the technology sector, the Decree redefines the expansion project concept to allow eligible preexisting projects to apply to RIGI.

An expansion may now be recognized if a new product is developed, even without a physical increase in installed capacity, provided that stringent conditions are met, including:

  • A minimum investment of US$250m
  • A material innovation component, measured through a significant economic differentiation of inputs
  • A market life cycle of 10 years or less, supported by an independent technical report

Implications

Multinational groups and investors evaluating or structuring large-scale projects in Argentina should reassess their investments in light of the extended window to access RIGI benefits and the updated investment thresholds and sectoral definitions, among the other changes.

* * * * * * * * * *
Contact Information

For additional information concerning this Alert, please contact:

Pistrelli, Henry Martin & Asociados S.A., Buenos Aires

Ernst & Young LLP (United States), Latin American Business Center, New York

Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific

Published by NTD’s Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor

Document ID: 2026-0704

 
 

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