Intelligent Or Stupid To Move To Ba Now?

[86andcounting]

My company (a big global company) has offered me a transfer from Western Europe to the BA office. The new contract is open so I am able to negotiate some conditions into it. I am struggling with the decision as all I hear about Argentina are negative issues especially regarding the instability of the economy. The reasons that I am considering it are: career growth and possible career change as well as personal interest in moving into a different culture and traveling the region. The move would be with my wife, we're both in our mid thirties, and our dog. We both speak Spanish and like change and easily adapt to new cultures. We do have a nice relaxed life in Europe, but we want a change.

Can you please advise us on what I should ask for the work contract to include, as well as anything we should consider before making the decision, and mainly how can we go around the money situation.

In conclusion, is Buenos Aires a smart move?

Thank you,

 

[camberiu]

As long as you are not paid in local currency, you should be fine. I am here on a one year assignment and the crisis has not affect me directly at all.

 

[Matiasba]

ask for your wage in dollars!!!

edit: camberiu said it before

 

[camberiu]

Also, it is not like Europe is not falling apart either

http://youtu.be/Z-f2Qf2NT2o

 

[86andcounting]

As long as you are not paid in local currency, you should be fine. I am here on a one year assignment and the crisis has not affect me directly at all.

Thanks Camberiu and Matiasba,

How do you get paid in $ there? Into a local bank or a foreign bank? Cash? I read there are quite a lot of restrictions on $ and exchanging. And what about the rent? Do you have to pay it in $ (1x1 with peso) if you're a foreigner and don't have a garantia?

Thanks,

 

[camberiu]

Your best bet is to bring dollars from abroad and exchange them in small amounts, as needed via arbolitos or cuevas, so you get the blue rate. Other option is to use xoom.com, which will get you near blue-rate exchange rates.

In terms of rent, it will vary from landlord to landlord. some landlords will be happy to be paid via bank transfers to their foreign accounts if they have one. Other will put your rent in dollars to be paid locally, and you will need to negotiate the exchange rate. Rent prices are going down, as lots of people are putting their apartments up for rent, since the no one is buying anything right now. So, you could have lots of leverage on that.

 

[JamJam]

Have you been to BA before? I would strongly recommend you visit beforehand.
Some people really like it here others hate it. All depends on what you want out of life.

It could be a good option to come here for a year or two.

I would request my wages to be paid in dollars to your European account. You'll find it almost impossible to transfer money out of the country.

Its a bit difficult to travel out of the country because of the money restrictions plus there isn't much to visit near BA less than 1000km away.

 

[Lamb]

Why is it necessary to be paid in dollars on a European account? Why not just euro's? I dont know where in Europe he lives, but most likely he gets paid in euro's already (unless its the UK obviously), so what would be the reason to change that?

 

[jdr7137]

I'm on a one year assignment (in another city in Argentina, not BsAs) and I can tell you what I have in my contract. I get paid as much or as little of my salary as I want into an Argentine bank account (pesos). This is a requirement of my work visa, to get paid in ARP into a Argentine account, but it doesn't have to be your full salary. The rest I get paid into my USA bank account. My company pays all my taxes in Argentina as well as any different in income tax between what I would normally be paying to the US and what I would pay now (with all of these new allowances). My company works with a local firm to pay for my apartment, so they pay the rent and all the securities. This is pretty standard in international transfers. I get a stipend (in US), car allowance (in US - but you might not need a car in BsAs), and some assistance with home maintenance for my house in the states. I also get currency protection. All of this is in my contract.

 

[86andcounting]

Thanks JamJam and Lamb,

We traveled for a month in Argentina before, but there were no currency restrictions then, plus it must be different just being a tourist than actually staying there. We're up for a change but we read a lot of negative stuff on how complicated Argentina can be.

It will be a new contract so the currency is not yet defined. But if I get paid in $ or Euros, will I be able to take that out from the bank in that currency or will they just give me the pesos at the govt exchange rate?

Thanks,