Advice on bringing in declared income from the US?

[steveinbsas]

My rentista Visa stipulates that I bring the money into the country via SWIFT transfer from my US bank to my bank here and that's the only way it counts when I'm up for renewal (a new rule they added recently to the process-Western Union used to work fine). It's not great as they raised the amount needed to 5x the monthly minimum but the banks only allow you to bring in 4x the monthly minimum as they're trying to avoid anything that could appear as laundering, I'm assuming. Immigration still insists on 5x so no clue how my renewal will go next year. I appreciate your help, though. Every few months immigration or banking likes to throw a small and sturdy wrench in my plans.

Since the 4x limit imposed on monthly transferers and deposits by the banks (at least Santander Rio) applies to anyone who has not registered with AFIP regarding their ingresos, all anyone should have to do for the banks to allow the higher level of monthly deposits is to regularize their offical "status" with AFIP.

The current limits were set by the bank(s), not by AFIP and expats with temporary visas were never the "specific targets" of these limits. It is certainly nota case of "one hand (migraciones) not knowing what the other hand (AFIP) is doing (as "scoffingly" asserted in another thread about the "new mandates.:

i seriously doubt that anyone whose foreign income was accepted by migraciones will have any probem with AFIP if they can provide the same paperwork that they submitted to migraciones when they applied for residency.

 

[Paige55]

Since the 4x limit imposed on monthly transferers and deposits by the banks (at least Santander Rio) applies to anyone who has not registered with AFIP regarding their ingresos, all anyone should have to do for the banks to allow the higher level of monthly deposits is to regularize their offical "status" with AFIP.

The current limits were set by the bank(s), not by AFIP and expats with temporary visas were never the "specific targets" of these limits. It is certainly nota case of "one hand (migraciones) not knowing what the other hand (AFIP) is doing (as "scoffingly" asserted in another thread about the "new mandates.:

i seriously doubt that anyone whose foreign income was accepted by migraciones will have any probem with AFIP if they can provide the same paperwork that they submitted to migraciones when they applied for residency.

I suppose I could just try to make an appointment at AFIP and have them advise me on how to register my income and what my situation would call for. Thank you for your reply. It's helpful. I get varying advice, even from the lawyers I've talked to...advising against registering with AFIP or telling my bank about my trust. But, I honestly just want to run by the book, renew my temporary VISA once more then roll that into a permanent VISA and live my humble, little life here. I don't have property or large sums of money tied up in stocks, crypto, savings. This trust is it and then income once I begin freelance work again down the line (which seems more straight forward as I'd just register Monotributo).

 

[steveinbsas]

I suppose I could just try to make an appointment at AFIP and have them advise me on how to register my income and what my situation would call for.

It's easy to make a turno to meet with AFIP 8n person, but before you do that, it would be helpfull to knowifyour Argentine bank has blocked any of your wire transfers

In my opinion, they haven't done so yet, it may be a "good idea" to wai until that happens, especially if you don't bank with
Santander Rio and you have not recieved a similar email about a monthly transfer/deposit limit.

Thank you for your reply. It's helpful. I get varying advice, even from the lawyers I've talked to...advising against registering with AFIP or telling my bank about my trust.

An accountant will give you the "best" advice regarding all things AFIP. I get all of my information directly from AFIP, includingon Monday, the 8th of July, when I had an appointment at their office in Punta Alta.

I asked about the limit on deposits and transfers and was told that the limits were set by the bank(s).

I have been inscripted for the bienes personales tax since 2009, when I was in the process of selling my apartment in Recoleta and owed the tax for 2006 through 2008. Since then I have not had to pay bienes personales tax and never have had to pay any income taxes in Argentina.

The easiest way to know the taxable level of income at any moment in time is to go to the AFIP website, having searched for the (monthly) piso de ganancias. My monthly income has always been below that "floor."

At any time I can go to the AFIP website and generate a "constancia of my CUIL/CUIT. Mine shows that I am registered for the bienes personales, but that's all. I have a clave fiscal, but I don't have to use it to generate the constancia.


PS: I showed the bank in Bahía Blanca a copy of the translation of the trust which was generating my income when I opened the account in early 2012, at the same time I stopped usinh my Schwab ATM card and started making transfers. I could not have opened the Santander Rio account otherwise. I have never owned or had any control over the assests in the trust, so they have never been subject to the bienes personales tax.

 

[Paige55]

It's easy to make a turno to meet with AFIP 8n person, but before you do that, it would be helpfull to knowifyour Argentine bank has blocked any of your wire transfers

In my opinion, they haven't done so yet, it may be a "good idea" to wai until that happens, especially if you don't bank with
Santander Rio and you have not recieved a similar email about a monthly transfer/deposit limit.

An accountant will give you the "best" advice regarding all things AFIP. I get all of my information directly from AFIP, includingon Monday, the 8th of July, when I had an appointment at their office in Punta Alta.

I asked about the limit on deposits and transfers and was told that the limits were set by the bank(s).

I have been inscripted for the bienes personales tax since 2009, when I was in the process of selling my apartment in Recoleta and owed the tax for 2006 through 2008. Since then I have not had to pay bienes personales tax and never have had to pay any income taxes in Argentina.

The easiest way to know the taxable level of income at any moment in time is to go to the AFIP website, having searched for the (monthly) piso de ganancias. My monthly income has always been below that "floor."

At any time I can go to the AFIP website and generate a "constancia of my CUIL/CUIT. Mine shows that I am registered for the bienes personales, but that's all. I have a clave fiscal, but I don't have to use it to generate the constancia.


PS: I showed the bank in Bahía Blanca a copy of the translation of the trust which was generating my income when I opened the account in early 2012, at the same time I stopped usinh my Schwab ATM card and started making transfers. I could not have opened the Santander Rio account otherwise. I have never owned or had any control over the assests in the trust, so they have never been subject to the bienes personales tax.

That is so very helpful. I do bank with Santander and thought about just doing that when two lawyers advised against telling the bank about my trust. Thought it seemed if I could show them the money is legit, they may allow me to transfer the full amount to meet the immigration requirements. I don't own/have control over the assets in the trust either. It is a trust my father set up during the pandemic, as during that time I was caring for him and his brother (who lives in the unit upstairs from him), using it to purchase them groceries, household goods, so they wouldn't have to leave the house during the thick of the virus spreading. I'm now using the remainder of that trust to live here/obtain my residency until it's permanent. I do still use some of that money to order things for him online when he needs and to pay down US credit cards but then the rest I wish to transfer to my Santander dollar account here without any flags going up. Again it's not a huge sum but just substantial enough to meet the rentista requirements.

 

[carride]

I wonder if anyone plans to use the new scheme that allows assets declared and brought into the country. As a result of the recently passed laws. AFIP implemented the rules of the law yesterday.

Noticias | AFIP

Micrositio de noticias de AFIP

servicioscf.afip.gob.ar

AFIP reglamentó el blanqueo: los detalles y cuánto podría captar el Gobierno

La Administración Federal de Ingresos Públicos puso en marcha el procedimiento para adherir al Régimen de Regularización de activos. Cuáles son los beneficios y las particularidades de esta medida.

www.ambito.com

The Federal Administration of Public Revenues (AFIP) regulated the procedure to adhere to the Asset Regularization Regime, contemplated in Law 27,743 "Palliative and Relevant Fiscal Measures", through General Resolution No. 5528 published today in the Official Gazette. The laundering is aimed at both residents in the country and all Argentines who moved their tax residence to another, and today can decide to return under this process.

Any amount can be regularized at no cost, if the money is kept in the financial system until December 31, 2025 , or if it is invested in some of the placements authorized by the Ministry of Economy. Nor will those who regularize any type of assets or possessions for a value of up to US$100,000 be subject to paying taxes.