I’ve read also something about investing in bonds on a immigration website, but it seems to be outdated as I can’t find any mention of it here.
On prior occasions and in several threads, I have mentioned setting up a "trust account" with a bank that makes the appropriate monthly income distributions to the income beneficiary could demonstrate to migraciones that the applicant for the visa rentista will receive sufficient passive and otherwise "untouchable" monthly income to be granted residency one year at a time. I never mentioned buying bonds and I do not recall any mention of bonds on this subjecy, though on several occasions I suggested "funding a trust account" with 30 to 90 day certificates of deposit.
Whether held entirely in cash or short term cd's that convert to cash, the funds deposited in the trust account can be distrubted on a monthly basis to the income beneficiary's personal bank account and then be wired by te account holder/temporary resident as required to their Argentine bank account. The current monthly requirement is 5 salarios minimo vital y móvil is about $1,200 USD per month.
So, to pursue this path, in order to "prove" to migraciones that the passive and untouchable income to meet the income reqirement for one year already exists, it would be necessary to have at least 12 times that amount ($14,400 USD) in the account at the time of applying fortñ the visa rentista. More than that amount would undoubtedly be better.
If Ihad to do this now I would seriously cosider funding the account with double the amount ($28,800 USD), if not a nice fat $30,000 USD, and then (all things being equal one year later) be prepared to deposit another $14,400 (if not more) into the trust account prior to renew tte visa for the second year.
Somone recently posted that they had to reveal all of thier foreign assets "chapter and verse" when applying for tje visa rentista. Perhaps someone who was applying for the visa based on income from investments and/or real estate had no option. This was mentioned in about AFIP knowing about expats taxable foreign assets and the implication was that migraciones shared their information with AFIP, I have never heard of this happening, but I cannot claim that it could not. In any case, if I understand correctly, foreigners with temporary residency only become liable to pay the bienes personales tax until the second year of residency and it is their responsibiliy to make the declaracion. I did not make any declaraciones for ten years (2009-2019) and I never heard anything from AFIP. I was only asked about it when I was blocked from printing a constancia of my CUIT. I went to their main office in Bahía Blanca and was asked to make declaraciones for the past seven years. My accountant prepared and presented declarations for two years and my account was unblocked. Since then I have not had to make the declarations and I confirmed this less than three months ago at the AFIP office in Punta Alta.
But I digress...
I could be mistaken (or lacking the latest information), but I don't know why migraciones would be concerned with knowing anything more about your finances than your ability to meet the monthly income reqirement for the visa rentista. If course they will want to know the funds in the trust account were legally acquired, and even if you earned it "remotely" that might be something you don't have to reveal. All you are asking for is a one year permit to live in Argentina. You can say you put your work on hold and just want to take off a year or two to spend some time to erxperience life in Argentina and perhaps six months in Chile and Uruguay (even if you never set foot in either country.
If you already have the funds, you could first deposit them into a new, personal bank account (the one in which you will receive the monthly payments from the trust account) and then transfer them as required to your Argentine bank account. If I was doing this now, I would open and fund the accounts well in advance of applying for the visa and I would have at least two monthly deposits already sent from the trust account to the personal account. I would not use the personal account for any other purpose than compliance with the requirements set by migraciones.
The first thing to do is find a bank that can set up an account like this. There may be monthly and/annual charges that apply, but I seriously doubt that you will need to pay a lawyer for this. As someone else posted, you might be able to pay an Argentine lawyer to help you get the desired visa based on current income derived from remote work.
That would mean paying the Argentine lawyer as well as (most likely) making "other payments" many expats desperately try to avoid. It's not somthing I ever had to deal with, so I cannot relate to their anguish and/or loss of sleep worrying about crossing the tax threshold and/or attracting attention from AFIP.
As you no doubt already know, unless the laws change, you will be able to apply for citizenship without a lawyer after having temporary residency for two years. I don't know if the proposed changes (making permanent residency a requirement, e.g.) can be enacted by decree or simple legislation. Considering the possibly that the proposed changes might require a change to the constitution, I'm waiting for an internationally well known Argentine "constitutional lawer" to express his professional opinion here.
Here are my posts which include the words trust account:
baexpats.org
