Deposit for Rentista Visa

[steveinbsas]

It will be very difficult to find a job in Argentina if you do not speak Spanish very well,

What I mean by this is that it will be very difficult for you to find a job in Argentina, especially working for a compnay that is registered with migraciones and is authorized to hire foreigners, thus making it possible to obtain a work permit (aka a "work visa") that would allow you to stay in the country (legally) after your student visa expires, asumng you can actually get one.

Of course you can come as a tourist and overstay the tourist visa and apply for citizenshp at some point with legal representation that will cost about $6,000 to $7,000 USD. In the meantime you will not be able to open a "storefront" bussines or a bank acount or even sell online using Mercado Libre, provided you coud think of something to sell/resell after buying it in the first place.

Whe you apply for citizenship the court will still require that you "deonstrate an honest means of living" in Argentina and that does not mean just having savings in a bank account that you will not be able to open in the first place, unless you become the first person to open a special bank account that is for "tourists" only, but I don't know what would happen to the funds in the account or if the acount would remain open after your tourist visa expires.

I know of (and actually "produce" with almost no effort whatsoever) several products that can be sold on Mercado Libre in quantities small enough (if my information is correct) not to have to register with AFIP as a monotribusta, but would probably generate sufficint revenue" to satisfy the citizenship requirement, but for me it is not worth the effort to do so at ths time.

 

[steveinbsas]

I am not Ukrainian but my business suffered a lot last 2 years due to Covid and now deeply affected by the inflation in the world and will permanently close this month with huge loses so after finishing everything with business, expenses, taxes ......etc i will be left with around 20000 -25000 USD where i would like to have fresh start in new country in next few months as i will have no job after closing business and don't want to waste my money sitting few months without income

I been searching a lot and Argentina seems ideal according to the amount of money i have that will be enough to start a small business with that money and also the culture in Argentina is very close to what i am looking for

Before you seriously consider startig a business in Capital Federal I suggest you search for posts by Davidglen77.

He closed his business about ten yars ago, but I think his story will help you understand what would be in store for you if you try to open one now.

Here is a thread about what he went through before permanently closing his candy store:

Buenos Aires - not for the faint hearted

So today I am in my store, organizing all of the Christmas merchandise as this is the busiest week of the year for us retailers. About 10:00 two inspectors come in and tell me that my store is not within guidelines for businesses allowed in the area and that they would have to shut me down. So...

baexpats.org

Here's somthing he later wrote in another thread:

Sep 30, 2012 am not familiar with CASABAR, but having owned a business in Argentina (thank goodness I closed it), I can certainly sympathize with the business owner, and being a client of retail businesses I know how upsetting it can be to feel ripped off and treated poorly. Here you have to be a genious and a magician to be able to maintain a profitable business and happy customers. For example, the taxes here businesses pay are unbelieveable, and your average pizza shop pays the same percentage of taxes as IBM. Here's a short list - IVA 21%, Ingresos Brutos 3%, Ganancias 35%, Impuesto al debito / credito, 1,2%, rent, accountant, utilities, supplies, salaries, social security taxes, PLUS you have to pay bribes to the municipal inspectors if you don't want to get closed down every so often. This is why things cost SO much in Argentina, I know the government likes to blame the "empresarios" and "almacenero" but trust me, I owned a small retail business here, it's extremely difficult to operate.

lacasa bar sucks

the prices have gone up....but literally beyond inflation and when there is an event like tonight (all blacks vs pumas) they DONT have happy hour (normal plus higher prices) really? when theres a night you're sure to have a lot of clientel, you hike uo the prices???? I've worked at loads of bars...

baexpats.org

What David experienced happened ten years ago, but I seriously doubt that the situation would be much (if at all) better today for a foreigner who just started a business in Capital Federal, especially if that foreigner doesn't speak Spanish.

 

[Dani80]

Before you seriously consider startig a business in Capital Federal I suggest you search for posts by Davidglen77.

He closed his business about ten yars ago, but I think his story will help you understand what would be in store for you if you try to open one now.

Here is a thread about what he went through before permanently closing his candy store:

Buenos Aires - not for the faint hearted

So today I am in my store, organizing all of the Christmas merchandise as this is the busiest week of the year for us retailers. About 10:00 two inspectors come in and tell me that my store is not within guidelines for businesses allowed in the area and that they would have to shut me down. So...

baexpats.org

Here's somthing he later wrote in another thread:

Sep 30, 2012 am not familiar with CASABAR, but having owned a business in Argentina (thank goodness I closed it), I can certainly sympathize with the business owner, and being a client of retail businesses I know how upsetting it can be to feel ripped off and treated poorly. Here you have to be a genious and a magician to be able to maintain a profitable business and happy customers. For example, the taxes here businesses pay are unbelieveable, and your average pizza shop pays the same percentage of taxes as IBM. Here's a short list - IVA 21%, Ingresos Brutos 3%, Ganancias 35%, Impuesto al debito / credito, 1,2%, rent, accountant, utilities, supplies, salaries, social security taxes, PLUS you have to pay bribes to the municipal inspectors if you don't want to get closed down every so often. This is why things cost SO much in Argentina, I know the government likes to blame the "empresarios" and "almacenero" but trust me, I owned a small retail business here, it's extremely difficult to operate.

lacasa bar sucks

the prices have gone up....but literally beyond inflation and when there is an event like tonight (all blacks vs pumas) they DONT have happy hour (normal plus higher prices) really? when theres a night you're sure to have a lot of clientel, you hike uo the prices???? I've worked at loads of bars...

baexpats.org

What David experienced happened ten years ago, but I seriously doubt that the situation would be much (if at all) better today for a foreigner who just started a business in Capital Federal, especially if that foreigner doesn't speak Spanish.

I don't know how to thank you, i can't afford any more loses and your last replies saved me

I keep reading all your last messages for hours and the qoutes from other posts, i wouldn't imagine the situation will be that worse to open a retail shop in Argentina

Can't express my words but your sincere reply is really appreciated and i will never go into having a shop in Argentina, i like the culture there but the reality of business there is very scary

Don't know about the online website you mentioned and the few things that can be sold online to make profit (please share it with me it might be worthy for me to make small profits)

I would like also to inquire about the interest rate for deposited money in Argentinian bank, is it really 40%? If i deposited 10k Usd will i get 4k Usd after 1 year? (Regardless of the 50% inflation rate) i will just look for any profit from online or bank interest to cover cost of living till i can find a job or come up with a new business idea away from retail or till i finish studying

And with ur sincere advice, do you have any suggestions for another country that can suit my case and amount of money and of course don't have bad business environment like Argentina, is Paraguay a good place to start ( if you have any idea or a post that will be great)?

Again my words can't describe my appreciation to your honest advice that saved me from losing what i have left

Thank you

 

[Dani80]

First, you need to contact the university to confirm that they will help you obtain the visa and the requirements. Contact the university of Buenos aires. You should be able to chat with them online. After confirming the process then go to Argentina.

After you arrive and start the student visa process, look for a job at the same time. A work visa is a million times better than a 3 month student visa. Long term student visas requires a real career path.

After obtaining the student visa go to immigrations and apply for the DNI. After receiving the DNI register yourself to get a CUIT which allows you to open a business.

Only apply for citizenship if you do not find a job to get a work visa. Applying for citizenship immediately requires a lawyer and will cost between 5-7k. But it will provide you protections. Only do that if you can't get a job.

If you find a job and get a work visa you can be in the country legally 2 years and then apply for citizenship without a lawyer.

I will contact the university tomorrow

Based on advice from Steveinbisas i will not think about having a retail shop and will be left with option of finding a job

If i find a job it will be worth hiring a lawyer and staying in the country other than that it will be difficult to spend money for 2 years without any income

I will start searching websites to figure the Argentinian job market and see the courses in universities as well hoping to find a solution

Thanks for your patience and understanding to my case

 

[acrio2]

Of course you can come as a tourist and overstay the tourist visa and apply for citizenshp at some point with legal representation that will cost about $6,000 to $7,000 USD.

Whe you apply for citizenship the court will still require that you "deonstrate an honest means of living" in Argentina and that does not mean just having savings in a bank account...

Steve, could you provide a little more info about this? I've never heard of overstaying then applying for citizenship. So, according to the "honest means of living" part, you could only do that if you're employed? Does that mean working in the country (or does having foreign clients and working online count)?

How long would one be in administrative limbo between being irregular (having overstayed) and getting paperwork on the path to citizenship?

 

[Bajo_cero2]

Steve, could you provide a little more info about this? I've never heard of overstaying then applying for citizenship. So, according to the "honest means of living" part, you could only do that if you're employed? Does that mean working in the country (or does having foreign clients and working online count)?

How long would one be in administrative limbo between being irregular (having overstayed) and getting paperwork on the path to citizenship?

There is no limbo. To be an inhabitant is a second class citizenship while legal residency (precarium, transitory and permanent) are in the best scenario a 3rd class citizenship.
For citizenship you can provide witnesess, the same evidence than for rentista, retirement or accountant certifications, among many others.