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

[TejanoExpat]

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 I've heard that migrations is looking for around $2,000 but given that $300 is still almost double the outdated 30,000 ARS limit at the official exchange rate, I figured it might be worth trying.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!

I have a couple of ideas ...

Convert your ETF into an annuity that will pay you USD $2,000 per month. You can live in ARG on a lot less than $2,000, so you could re-deposit the excess into an ETF or money market account at your brokerage.. Fidelity is currently paying 3.96% in some of their money market accounts which hold US Treasury funds (e.g., SPAXX and FZFXX: https://fundresearch.fidelity.com/mutual-funds/summary/31617H102?type=sq-NavBar)

Do you own a home or condo in the USA or another country? If so, you could contract with a renter for a long-term lease, a form of passive income.

 

[mageesa]

I have a couple of ideas ...

Convert your ETF into an annuity that will pay you USD $2,000 per month. You can live in ARG on a lot less than $2,000, so you could re-deposit the excess into an ETF or money market account at your brokerage.. Fidelity is currently paying 3.96% in some of their money market accounts which hold US Treasury funds (e.g., SPAXX and FZFXX: https://fundresearch.fidelity.com/mutual-funds/summary/31617H102?type=sq-NavBar)

Do you own a home or condo in the USA or another country? If so, you could contract with a renter for a long-term lease, a form of passive income.

Just curious, (and I'm not sure I understand the ins and outs) you're required to get your $2,000/mo in pesos paid out in ARG. I assume that's via WU, or must it be through a bank? Then, you want to use $1,000 of it for expenses, and put the other $1,000 (now in pesos) back into the Fidelity account. What is the mechanism for sending it to Fidelity, if you don't have a local bank account?

 

[elhombresinnombre]

Remember, this process doesn't have to satisfy a consensus of panelists on an expats forum: it has to satisfy the Dirección Nacional de Migraciones of Argentina who have their own criteria. In my opinion, if an application is anything short of plain vanilla, use an experienced lawyer.

 

[Alby]

Remember, this process doesn't have to satisfy a consensus of panelists on an expats forum: it has to satisfy the Dirección Nacional de Migraciones of Argentina who have their own criteria. In my opinion, if an application is anything short of plain vanilla, use an experienced lawyer.

For the rentista visa, use an experienced lawyer even if it is plain vanilla.

 

[TejanoExpat]

Just curious, (and I'm not sure I understand the ins and outs) you're required to get your $2,000/mo in pesos paid out in ARG. I assume that's via WU, or must it be through a bank? Then, you want to use $1,000 of it for expenses, and put the other $1,000 (now in pesos) back into the Fidelity account. What is the mechanism for sending it to Fidelity, if you don't have a local bank account?

My understanding of the income requirement is that you have to submit documentation of your income, not that you have to transfer your income to ARG. So if you meet the income requirement and other requirements and you are approved for residency, you could continue using your US credit/debit cards and Western Union for local expenses.

Getting a local bank account might be useful because that would allow you to get cash back up to 30,000 pesos at over 1,000 participating stores. Unfortunately, foreign debit cards aren't connected with the national banking system that enables cash back. I tried twice without luck!

I agree with the other members who recommend consulting with an experienced immigration attorney.