Help - Rentista Visa - 8000 Peso/month

[wavichian]

Saludos to all,

I'm wondering if anyone could give me some information or suggestion regarding about the new requirement of 8000 peso as minimal amount of capital to be applicable for the Rentista Visa.

I have been told by the officers at the Emigration that I need to make a transfer from my country into Argentina of 8000 Peso a 3 consegutive months either by Western Union or a collection of ATM withdrawal slips since I do not have a local bank account yet. After I have the proof of these 3 months of 8000 Peso coming in , they can submit the paperwork.

Then on the second visit to request for more information, I was told that I would need to show them a rental contract and the tittle deed showing the ownership of the property that i'm renting out in my country and have them all apostilled. The 8000 Peso has to be transferred in officially (hences by the official rate). This time, the officer didn't say anything about the 3 months and she couldn't answered by whether I will need to be transfering in 8000 peso per month for how many months?

I have also heard that some people would just have a local bank account, deposit cash of certain amont and bounce the money in and out to make monthly movement of 8000 peso in.

Any feedback or suggestion would be highly appreciated.
Happy weekend !

 

[Hybrid Ambassador]

I have a question as well to of you the savvy lobby of BAexpats, If I choose Argentina as my pensioner living terra firma,how long do I have to live in Argieland in order to qualify to initiate the process
of Permanent Resident visa application and be able to open a bank account/checking under my own name.?
Also will US$2600 monthly pension per month would do for such Visa qualification.?

 

[wavichian]

Hi Hybrid,
From my understanding is that you need to have 3 yrs (as non Mercosur) and 2 yrs (Mercosur) before being able to apply for Permanent Residency.
I could be wrong.

 

[splaying]

I might be able to give assistance but are there two people involved here or one with a second person commenting on the subject. Then how important is it for you to obtain the citizenship? How fast does it need to be done? At what cost are you willing to pay to have it actually and I repeat actually happen?

 

[Alicia karr]

I'm in the second official year of residency as a rentista. I have been using a lawyer who advised me to show a contract between myself and my tenants in the US that indicates a minimal income of 2500, but better 3000(US) a month. But that is only the tip f the iceberg. You need to have a letter from the bank where the money is deposited (apostiled) the actual rental agreement notarized and apostiled, a letter from your bank here indicating your account and that you're known and legit to them, an FBI background check also apostiled and official translations of the above, among other constantly changing requisites. Very time consuming and not cheap but if you persevere and accurately know what documents are required you can get your temporary DNI this way and after three years of annual renewals sometimes including additional documentation, you are finally eligible for full residency..I suggest you use a lawyer unless you are fabulous with detail, not easily stressed ,and pretty fluent in Castellano. Their "connections" usually assure you a positive outcome because they are informed of exactly what you will need in the ever changing world of residency requirements/ documentation. Best of luck!

 

[wavichian]

Hi Lacoqueta,

Thank you for your information. You mentioned that we'll need our a letter from our bank indicating our account here . Does that mean that you have to make a monthly transfer to your bank account here ?

I don't understand whether we will need to keep sending money in every month from our rental revenue back home for the whole year ? Or do it 3 months or just simple maintain some money movement of 8000 peso.

 

[PaulZ]

Best advice; Get yourself a specialized lawyer.

To answer your questions; If you have a local bank account, which a lawyer with the right connections can open for you as a non-resident, you have to make the transfer of 8000 pesos per month for the duration of your temporary residency. (The 8000 pesos is not a "new" requirement, but has been in place for at least 2 yrs now if I remember correctly)
Besides the income you need:
- Apostilized criminal history from the FBI
- Local criminal history
- Apostilized birth certificate. (But I have heard recently that a government issued photo id is also accepted now in some cases)
- Certificado de domicilio, or a few (say at least 3) Argentine bills in your name. (Say phone bills / cable bills / health insurance etc). But the certificado de domicilio will cost you 10 pesos at your local police station... Much easier!
- Letter from your bank confirming your income. If this is from outside Argentina, it needs to be apostilized
- Full copy of your passport (all pages!)

All documents need to be in Spanish, translated if needed by a legal translator.
Make copies of everything before filing. Be prepared to wait, to go back answer more questions/file more paperwork etc..

But seriously; If you spend about 1500-2000 dollar on a lawyer it will make your life so much easier. He can arrange the bank account, which saves you the hassle of getting the paperwork from your US bank, get your FBI records from the US without you going back to get them, ensure that you have everything before filing etc. It is well worth the money spent.
If you need a name of a competent lawyer who can assist you with this, send me a PM...

 

[wavichian]

Thanks Paul for your advices and I do think that spending 1500-2000 USD is indeed a good investment for saving all the hassles and for the connections.

However what bothers me is the amount of 8000 peso that has to be transferred in formally with the official rate. While I could have brought USD cash and change them with my friends here and get a better rate or par with the blue market rate.
It's almost as if I'll have to pay 1600 USD and get 800 USD value. And that's going to have to happen every months for 3 yrs after I can start apply for permanent residency ?

 

[PaulZ]

As long as your local bank account shows the 8000 pesos income, it should be ok.

 

[TomAtAlki]

Also remember another expense, as soon as you declare rental income, I believe you will have to pay income tax on that part of your "world wide assets" ie on the value of your rental property.

T/