Calling It Quits In Ba After Five Years

[Ries]

I certainly believe that you can sell your property and get dollars out of the country.

But what Hybrid Ambassador (I used to own a gas powered Rambler Ambassador, with a V8- it was a great car- never saw a hybrid, though)
seemed to be asking was about buying a property in Buenos Aires, and then paying outside of the country, directly to the seller.

And what I was saying is that the government frowns on this, as they dont get their cut if you try to do it that way, so they make it complicated.
I have heard of people doing it, but it requires some hoop jumping and maybe shading the truth just a bit, and so, I recommend expert local legal and Notario help, to pull it off.

Its much easier to just do it the way everybody else does it, legally and aboveboard, and, frankly, I am not convinced you would save that much by all the subterfuge and overseas transfers. A few percent, at most, but my guess is AFIP would find a way, now or later, to get that few percent back out of you. After all, thats what they do.

 

[expatinowncountry]

I certainly believe that you can sell your property and get dollars out of the country.

But what Hybrid Ambassador (I used to own a gas powered Rambler Ambassador, with a V8- it was a great car- never saw a hybrid, though)
seemed to be asking was about buying a property in Buenos Aires, and then paying outside of the country, directly to the seller.

And what I was saying is that the government frowns on this, as they dont get their cut if you try to do it that way, so they make it complicated.
I have heard of people doing it, but it requires some hoop jumping and maybe shading the truth just a bit, and so, I recommend expert local legal and Notario help, to pull it off.

Its much easier to just do it the way everybody else does it, legally and aboveboard, and, frankly, I am not convinced you would save that much by all the subterfuge and overseas transfers. A few percent, at most, but my guess is AFIP would find a way, now or later, to get that few percent back out of you. After all, thats what they do.

There is absolutely no problem in buying and paying out of the country. If the amount is over a threshold, you need to show the origin of funds. We did it that way. Zero problem, money from one US account to another US account. The only money that was paid inside the country were the fees and taxes associated with the transfer both buyers and sellers taxes (the government always gets its cut) and the fee for the notary.

 

[Hybrid Ambassador]

I certainly believe that you can sell your property and get dollars out of the country.

But what Hybrid Ambassador (I used to own a gas powered Rambler Ambassador, with a V8- it was a great car- never saw a hybrid, though)
seemed to be asking was about buying a property in Buenos Aires, and then paying outside of the country, directly to the seller.

And what I was saying is that the government frowns on this, as they dont get their cut if you try to do it that way, so they make it complicated.
I have heard of people doing it, but it requires some hoop jumping and maybe shading the truth just a bit, and so, I recommend expert local legal and Notario help, to pull it off.

Its much easier to just do it the way everybody else does it, legally and aboveboard, and, frankly, I am not convinced you would save that much by all the subterfuge and overseas transfers. A few percent, at most, but my guess is AFIP would find a way, now or later, to get that few percent back out of you. After all, thats what they do.

_Aha, I do remeber those, an American marque! I believe it got absorbed by Chrysler corp?

OK, but suppose I meet up with the selling owner and we strike a deal for an X amount of Dollars, then the owner wanting to get paid in US currency but not in Argentina. So he can ask me to put the money into their account in foreign land? But what I should do to notarise and change the title deed for that Argentine property to my name? And who pays the tax, the sales tax I mean?

 

[ghost]

_Aha, I do remeber those, an American marque! I believe it got absorbed by Chrysler corp?

OK, but suppose I meet up with the selling owner and we strike a deal for an X amount of Dollars, then the owner wanting to get paid in US currency but not in Argentina. So he can ask me to put the money into their account in foreign land? But what I should do to notarise and change the title deed for that Argentine property to my name? And who pays the tax, the sales tax I mean?

You can do the deal in that direction. However, when you go to sell you are very likely to face the nasty end of the AFIB stick.

 

[mariposa]

[background=rgb(252, 252, 252)]OK, but suppose I meet up with the selling owner and we strike a deal for an X amount of Dollars, then the owner wanting to get paid in US currency but not in Argentina. So he can ask me to put the money into their account in foreign land? But what I should do to notarise and change the title deed for that Argentine property to my name? And who pays the tax, the sales tax I mean? [/background]

whether you sell your place for cash inside argentina and have it transferred out or you sell to a foreigner who wires the money from abroad into your foreign bank account, you still make the escritura in argentina with an argentine escribano and an argentine contador and you pay the various transactions fees (stamp tax etc) required. this is how it works! there is no mystery involved.

 

[citygirl]

Its much easier to just do it the way everybody else does it, legally and aboveboard, and, frankly, I am not convinced you would save that much by all the subterfuge and overseas transfers.

You must be joking right? I have NEVER heard of an all in white real estate sale here, porteño or extranjero alike. To say most are done legally and aboveboard is so far from the truth, it's funny. 95% of the sales are done in 2 parts. The smallest amount that is legally required is paid here in pesos in white. The vast majority of the transaction takes place outside of Arg in black.

EJ: Property is listed for 300,000 pesos which is the declared value of the property. You pay 300,000 pesos here. The actual price of the property is 300,000 USD. The other 250 (+/-)K is paid in dollars outside of the country.

 

[Jaredberryman]

You must be joking right? I have NEVER heard of an all in white real estate sale here, porteño or extranjero alike. To say most are done legally and aboveboard is so far from the truth, it's funny. 95% of the sales are done in 2 parts. The smallest amount that is legally required is paid here in pesos in white. The vast majority of the transaction takes place outside of Arg in black.

EJ: Property is listed for 300,000 pesos which is the declared value of the property. You pay 300,000 pesos here. The actual price of the property is 300,000 USD. The other 250 (+/-)K is paid in dollars outside of the country.

I'm not sure how long it's been since you bought, but I highly doubt that you can claim that the property you purchase is 50,000 when it is really 300,000. That is virtually impossible now I think.

 

[expatinowncountry]

I'm not sure how long it's been since you bought, but I highly doubt that you can claim that the property you purchase is 50,000 when it is really 300,000. That is virtually impossible now I think.

Agree. Because of the ridiculously low fiscal value, there are now fair market values estimates and the AFIP will not allow you to register the house for less than that. In practice in means that you could have an 80% in white and 20% in black real estate deal but never something where the "white" part is only 20% of the value.

 

[Hybrid Ambassador]

So who pays all the fees and taxes involved for an Argentine RE purchase there? 1/2 and 1/2 between the seller and the buyer? Anyone in the know here? Is the acv ( actual cash value ) of property can it be altered/manipulated for tax advantage purpose? Also can anyone purchase a property there just with a temporary residency? or is it no can do till permanent residency? If in Chile,I have been advised from the Expats that, any gringo expats can buy property once get the temporary residency carnet numbers?
How is stature or rights for an "Extranjeros" works there.? Much obliged to all of you.!

 

[expatinowncountry]

So who pays all the fees and taxes involved for an Argentine RE purchase there? 1/2 and 1/2 between the seller and the buyer? Anyone in the know here? Is the acv ( actual cash value ) of property can it be altered/manipulated for tax advantage purpose? Also can anyone purchase a property there just with a temporary residency? or is it no can do till permanent residency? If in Chile,I have been advised from the Expats that, any gringo expats can buy property once get the temporary residency carnet numbers?
How is stature or rights for an "Extranjeros" works there.? Much obliged to all of you.!

Buyers pay notary, real estate agent, and several registration taxes (depends on the value of the property, if it is first home, etc)
Seller pays to AFIP (tax authority)
I am almost sure foreigners can buy with temporary residency, they need to apply for a CDI (tax number). I think there are tax advantages of buying/selling when you are permanent resident but you need to ask a local accountant. Also, if you own property in Argentina but live abroad, your annual wealth tax (bienes personales) rate will be higher.