It is no secret that President Javier Milei wants to position Argentina as the ideal destination for investments in the technology sector. 

A bill sponsored by Deregulation Minister Federico Sturzenegger, which was recently sent to the Argentine Congress, is a concrete step in that direction.  

If the initiative, which seeks to reform the General Companies Act, is approved, it would grant legal status to “non-human companies”— i.e., managed exclusively by AI — and would also create the legal entity of decentralized organizations. 

The Companies Act regulates the creation, operation, and dissolution of companies operating in Argentina. Under the guise of modernizing it — the law dates back to the 1970s — one of its main changes would be introducing the concept of an “automated company.”

According to a report by the Legal and Social Sciences School at the National University of La Plata (in Spanish, UNLP), this means “a company that can operate completely autonomously through algorithms or artificial intelligence, without the need for employees for its day-to-day operations.”

The legislation “enables a business model where decision-making and the execution of operations are handled by the automated system, not by individuals during working hours.”

María Eugenia Lafuente, the general counsel for the multinational legal and business advisory firm Binder Dijker Otte (BDO) in Argentina, told the Herald that, “if approved, the draft bill will be the first legislation of its kind in the world.”

According to attorney Pablo Serdán, the closest thing to an automated entity is AI agents. This means systems that “execute operations, enter into contracts, and move funds on their own, for example, in trading.”

He clarified, however, that they “always exist within a company with human owners.”

“What is unprecedented about the bill is that it would give that agent........

© Buenos Aires Herald