How often can you apply for the rentista visa if you are denied?

[Vos]

Hello everyone,

I understand that there are numerous threads regarding the rentista visa but I wanted to ask specific questions pertaining to my situation.

1) If I'm currently receiving monthly dividends of $300 USD from a US ETF in a taxable brokerage account, would it be worth applying for the rentista visa? I've heard that migrations is looking for around $2,000 but given that $300 is still almost double the outdated 30,000 ARS limit at the official exchange rate, I figured it might be worth trying.

2) How often can you apply for the visa if your application is denied? I'm not in Argentina yet as I'm debating whether I should wait until I can increase the dividend payout to a more substantial amount ($1,000+) using my remote job income or start applying soon in Argentina and keep applying every 6 to 12 months while continuing to invest until I'm approved. Worst case, I will have to leave at some point by paying the overstay fine on my way out.

Any thoughts or suggestions would be highly appreciated!

 

[lunar]

1) If I'm currently receiving monthly dividends of $300 USD from a US ETF in a taxable brokerage account, would it be worth applying for the rentista visa?

Please read

Visa run being a dual national

I want to stress this as someone whose background is in International Relations (not specific to OP, just people in general) that it's never a good idea to mix passports. Keep the following in mind to avoid problems: - ALWAYS use the same passport to enter and exit a country, not just...

baexpats.org

and later, and pay attention to the words "uninterruptible" and "trust".

 

[Vos]

Thanks for providing this. It seems that there is no clear cut way of showing proof of income (other than the monthly amount being close to $2,000) although setting up a trust is one way to do so.

I was hoping to keep it as simple as possible by having some funds in a ETF that pays monthly dividends, which would qualify as "investments in foreign companies" (Inversiones en empresas del exterior) as outlined under requirements for rentistas on the government website. Also, I figured getting approved while the monthly payout is lower would result in a lower tax liability.

 

[Redpossum]

Given that the average US retiree gets about 1665 USD in Social Security, that 2000 dollar figure is rather steep.

 

[lunar]

Given that the average US retiree gets about 1665 USD in Social Security, that 2000 dollar figure is rather steep.

This type of visa is for passive investors. Retired people are supposed to apply for visa pensionado.

 

[chris]

Given that the average US retiree gets about 1665 USD in Social Security, that 2000 dollar figure is rather steep.

Is the 1665 USD figure gross or after deductions - and is the $2,000 use figure a gross figure or net (after taxes)?

 

[lunar]

Is the 1665 USD figure gross or after deductions - and is the $2,000 use figure a gross figure or net (after taxes)?

I don't know where this $2,000 USD figure comes from. The government website says that the minimum is 30,000 pesos per month. This is 87 dollars according to the currrent blue rate.

 

[Redpossum]

Is the 1665 USD figure gross or after deductions - and is the $2,000 use figure a gross figure or net (after taxes)?

1665 is average Social Security amount received, so gross.

SS is taxable in theory, but in actual practice the vast majority of retirees don't have enough income for it to be an issue, so there are no deductions.

 

[steveinbsas]

I don't know where this $2,000 USD figure comes from. The government website says that the minimum is 30,000 pesos per month. This is 87 dollars according to the currrent blue rate.

The last two times the monthly income requirement for the visa rentista was increased, the result was $2000 USD per month.

The first time was in 2010 when the exchange rate was 4 pesos to one USD. The monthly income requirement was increased frm $2.500 pesos to $8.000 pesos:

https://baexpats.org/threads/shocking-new-income-requirement-for-visa-rentista.9787/

The second time was when the exchange rate was 15 pesos to one USD. The montly income requirement was increased form $8.000 pesos to $30.000 pesos, but I am not certian of the exact year the increase went int effect.

If I remember correctly, migraciones was granting the visa rentista at the $8.000 pesos level right up to the official change in the income requirment to $30.000 pesos.

I don't recall anyone posting recently that they were able to qualify at the $30.000 level.

Perhaps that's why some have indicated that is is almost impossible to get approval for the rentisat visa in recent years.

I am reasonably (but not absolutely) certain that migraciones would calculate the foreign income at the official rate.

 

[steveinbsas]

1665 is average Social Security amount received, so gross.

SS is taxable in theory, but in actual practice the vast majority of retirees don't have enough income for it to be an issue, so there are no deductions.

Those receiving Social Security income do not have to meet a specific monthly income requirement to be granted the visa pensionada.

Migraciones does not ask for US tax returns (which would be easly to fake).

A benefit letter from the SSA which, hopefully, can receive the Apostille and then be translated in Argentina, should provide adequate evidence of the "lifetime income from a government pension" (which is exactly what is specified on the migraciones website).

Perhaps US bank statements showing the monthly deposits from the SSA as well as the debits for WU transfers to Argentina would also be helpful.