Enter With Dollars, Change A Substantial Amount Of Dollars

[shoush]

hey!!! so i found a place im really thinking seriously about buying! yeeeea!
but he wants pesos and ofcourse using the negro cambio its is quite a bit cheaper to buy! so here are 2 questions, i obviously cant do a bank transfer because ill automatically get the crap cambio. so if i go to Canada, get the usd (around 80000usd) will i have to pay any taxes if i declare it????? ofcourse ill have to give the reason why, but it should be all good right? or should i be weary of problems?
also i really need a recomendation for a trusty cueva, thats really going to give me the best rate possible,,,tipo, 7.2
does anyone know of one that is super trust worthy?
thanks in advance!!!

 

[Davidglen77]

You really need to stop and think about what you are doing. When you buy a property, you had better be able to "source" those funds. The day you go to sell it if the source of the funds you bought that place with are not clear you will never get it sold and you will have MAJOR problems with AFIP. Alot also depends on your residency status, if you have a DNI, Argentine bank account, you really need a good assessment from an escribano before you do this or you will have major problems down the road. Just my advice. Good luck.

 

[Bajo_cero2]

Ypu are confused. 7.2 is the price they sell dollars. If they buy they pay less. Take a look at dolarblue.net.
According to this website, the price for selling is 6.65.
I have a guy who changes dollars and he goes to your place, he paid me 6.9 yesterday.

Regards

 

[Bajo_cero2]

You really need to stop and think about what you are doing. When you buy a property, you had better be able to "source" those funds. The day you go to sell it if the source of the funds you bought that place with are not clear you will never get it sold and you will have MAJOR problems with AFIP. Alot also depends on your residency status, if you have a DNI, Argentine bank account, you really need a good assessment from an escribano before you do this or you will have major problems down the road. Just my advice. Good luck.

Buying/selling real state is under the table. So, the day you sell it you take your dollars and leave with them in the same way you enter them 1) declaring them 2) under the table.
Over 10.000 dollars you have to declare them, in theory, and pay taxes. You should find out how much. Regards

 

[cbonanni]

I suggest you take Bajo_Cero2 advise.

To elaborate on his 2) : , if you place the funds you want to bring down in it own account (source of funds) , transfer them to a known and trusted money house here , get your pesos at a good rate , and buy the place. Nothing to declare to anyone. Same way getting funds out. Sell property ,Take pesos back to money house , they change to dollars , and send wherever you want. Again , nothing to declare. Easy. Of course commissions are involved. 2-3% in and 5-7% out. More or less. As Bajo_Cero2 says "In Theory."

As DavidGlen77 said: find a good Escribano and get his advice.Residency , DNI , Afip # all play into it.

Finding a money house is the hard part. Mine is NOT taking new customers.

 

[el_expatriado]

Or you could do this legally with contado con liquidación:

• Buy Argentine stocks abroad with dollars
• Transfer those stocks to a broker here
• Sell those Argentine stocks here for pesos

This is 100% legal, you can report it in the escritura as the source of your funds here and it will give you an exchange rate of 7.16 or so. Not bad at all.

Just make sure you have your money and accounts abroad declared to the AFIP because this operation is 100% en blanco.

Saludos!

 

[shoush]

wow thanks so much for all the advice, im married here and still in the process of getting my residency, but me and my husband are both sharing in the house, so would it be easier to put it in his name for tax purposes? and yes, thanks so much for the thought of doing everything from here, with someone who would like to trade, and i do a transfer, i would rather not declare everything.
thanks so much everyone

 

[cbonanni]

if you are married to an Argentine , and you bring in funds to buy real estate , you really have no worries.

If you put the property in your spouses name , have some sort of agreement as to how proceeds would be divided in a future sale.

Not declaring will cost a little more in commissions , but save tons on exchange rates and AFIP.

Good Luck !!

 

[Xeneizes]

I was under the impression you are taxed 50% on everything over $10,000 but I could be wrong.

 

[cbonanni]

Declared. Who wants to declare and pay taxes ? Not me......

Under the table/radar....