Buying assets in Buenos Aires

[RKroberts]

If you have a lot of money in the bank in Europe (Luxembourg) and moved permanently in Buenos Aires would you get taxed by the Argentinian government if you bought assets ie: 1 apartment worth 3 million dollars a house worth more than 4 million dollars and 3 apartments worth in total 900,000 dollars.
New Cars: 2 Mercedes A class, 1 BMW 3 series, 1 Peugeot 208

 

[Ronnie Hotdogs]

Keep it in Europe.

 

[RKroberts]

Keep it in Europe.

Absolutely! I would leave all my funds in the bank in Europe. I don’t trust banks in Latin America. Would probably open an account with banco piano and transfer basic amounts each month to enable me have credits cards etc.

 

[Ronnie Hotdogs]

Why put $5 million USD of your money into Argentina unless you have more money than sense?

 

[RKroberts]

My life my choice

 

[WoodbridgeNJ]

Can I have a small loan of 1 million dollars

 

[Ronnie Hotdogs]

You will be taxed on your "bienes personales" on a sliding scale from 0.5% to 1.75% Annually.

https://www.afip.gob.ar/gananciasYBienes/bienes-personales/conceptos-basicos/que-es.asp

 

[earlyretirement]

Yep as Ronnie mentioned, you'll get taxed on your actual assets you OWN in ARGENTINA. But if you keep these funds and assets you won't get taxed in Argentina on those assets unless you got permanent residency. But even then, Argentina is really unorganized. It's not likely they would know what you own outside of Argentina. Realistically you would get taxed on assets like real estate or cars that you buy inside Argentina.

You wouldn't need a DNI to buy real estate or automobiles inside Argentina. And if you decided you did want to get your DNI, it's recommended that you change those assets (bank accounts or real estate) into an LLC (or whatever the similar corporation is in your country).