Can Businesses Send Money Out Of Argentina?

[shawnmoss]

Hi Everyone,

I'm new here so please excuse me if this has already been answered.
I'm looking to start a business in Argentina however I will need to import goods which means I need to send large amounts of money out of the country (by large I mean larger than the typical remittance for family amounts).
With all the difficulties of sending money out, how do businesses do it?
Can they do it legally, or do they have to pay a service a certain percentage to do it, and where can I find these?

Any information helps,

Thank you

 

[oddflags]

If you have imported a product legally through customs, with all the documentation, you can pay the supplier through the banking system. The problem is getting authorazation to import in the first place - I think you should check with customs brokers first whether the product you intend to import will be authorized. Also be aware that even if it's authorized to start with, it could be blocked at any time - I wouldn't recommend you rely solely on importing into this country at the moment. Speaking from experience.

Also beware that there is uncertainty at the moment as to what exchange rate will be applied when paying for overseas goods - even though its through the banking system etc, it appears that the government is applying an exchange rate pretty close to the blue rate - so you won't get the "official" exchange rate anyhow - check out how this would affect your pricing in pesos here.