Banking In Buenos Aires

[steveinbsas]

You are assuming that she has no residence and will not apply for residence. Why? There are many options for residence that do not depend on employment ("en blanco"). She could even freelance/have a small business with clients abroad that pay in dollars, and still have residence here.

Below is a list that includes all of the "many options for residency that do not depend on employment." If you have additional information about anyone who works freelance in Argentina or has a small business with clients abroad that pay in dollars that has been able to get residency in Argentina, please share the details. A couple of individuals might have been able to pull this off (with some creative documentation from their CPA) but unless something has changed recently, I think that getting residency based on "active" foreign income is about as likely as getting migraciones to accept a home two police report in lieu of a background check from the FBI.

Residency Categories Requirements:

#2.1. Pensionado. Retired Passive Income. Monthly Minimum UNSPECIFIED. (I took a gamble and passed with ~ $1100 US. ….. Does any one know?). The only reference found is the website of the AR consulate in NY http://cnyor.mrecic....ar/en/node/2256 , clearly stipulating $2500 pesos. (obviously outdated … )​

#2.2. Rentista. Monthly Minimum very clearly specified (currently = $8000 pesos) and can NOT be changed arbitrarily without a new law or decree !. ... it hasn´t changed since the Dollar was 3 pesos. This is an ANOMALY (in your favor, … welcome to Argentina!!!) that can not last for much longer, and may never happen again. Non negotiable $8000 pesos. Immigration Agents have no DISCRETION on it. They don´t estimate, asses or evaluate, what it SHOULD be on an individual basis, how many members in your family, cost of living, … nothing of the sort. …. But they have to verify if the source is acceptable, if it´s laundry, ... etc.​

35]· MONTHLY PASSIVE INCOME is the criteria, e.g. Rent, Stock dividends, trust fund, interest, Capital Gains, etc (NO assets, NO Salary).​

35]· If you have a million Dollar sitting in the Bank, only the interest is your Monthly Income. If the interest is below $8000 peso, then you have to convert some of your $1 million to a Trust Fund that will pay you Monthly Passive Income. Or buy a real state property that pays you Monthly Passive INCOME (rent).​

35]· Set up a Panamanian company (they say it´s easy to do), with creative accounting it will regularly pay you a Passive Monthly INCOME in the form of stock Dividends (NOT Salary).​

#2.3. Work. Employee sponsored by an Argentine Employer (Certified to hire foreigners).​

35]· Some employer will sponsor your Work Res if you accept min. wage. (Teach English, IT, .. etc).​

35]· With an Argie partner, you could legally register an Argentine Business to get a Work Res. for your self as a Manager of that Business. ( notice you are not applying for or getting an Investor Res. #2.5..).​

#2.4. Family.​

#2.4.1.. .Marriage to Argentine Permanent Resident. doesn't have to be Argentine Native or Citizen, (Perm. Res.). #15.​

#2.4.2... Parenting an Argentine Child. (Perm. Res.). #15.​

#2.4.3... Being a Child of an Argentine Parent. (Perm. Res.). #15.​

#2.4.4... Family re-union. (Temp. Res.).​

#2.5.....Investor: Minimum of $300,000 pesos (latest figures) investment to employ and Create Work for Argentines. .​

#2.6.....Student. Certified institution will give you the 1 Individual document. Student Residency is outstanding. If you comply with all it´s conditions, you could work legally and on 3[sup]rd[/sup] renewal you qualify for Perm. Res. #13., #19.​

#2.6.1. Full Program will grant you a Temp. Res.​

#2.6.2. Short minor programs only lead to Trans. Res.. (even studying Spanish will qualify).​

#2.7......Medical Purposes.
#2.8......Religious Members.
#2.9......Artists.
#2.10....Sports.
#2.11....Political Asylum.
#2.12....Refugees.
#2.13....Scientists.
#2.14....Academics.
#2.15....Diplomat.
#2.16....Humanitarian.
#2.17....Special.​

Source: http://baexpats.org/...on-for-dummies/

And if she were to live here with no residence then I would probably not recommend to exchange dollars at a "casa de cambio". Cuevas, even banks usually have better exchange rates.

If cuevas and banks have better rates than a casa de cambio, of course they would be better places to exchange dollars to pesos than a casa de cambio (I don't use any of them). I do wonder if a bank would make the exchange for a foreigner with an expired tourist visa, that is if Ann stays in Argentina without residency and doesn't make the "visa runs" to Colonia (which I do not recommend).

 

[r2d2]

Aren't those enough options already?

 

[steveinbsas]

Aren't those enough options already?

Not if you don't qualify for any of them and, unless there has been a change by AFIP that allows payment for work in blanco in dollars in Argentina, Ann won't be able to get temporary residency based on work.

She didn't actually say she was coming to work or how long she planned to stay. The use of the word "paid" doesn't necessarily mean that work is involved but it is clear that she will receive the dollars in Argentina. If she's in Argentina for less than six months it wont really matter if she has temporary residency.

If you actually know someone who works freelance in Argentina or has a small business with clients abroad that pay in dollars who was able to get temporary residency, please share the details regarding the documentation they provided to migraciones.