How to bring in USD Legally to buy property?

Val555

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Hi, I'm in a bit of a pickle.

I need to bring in USD cash Legally (for paper trail for escribano) but I don't know how.

I called up https://www.puentenet.com/ and one other capital markets company and they both said they only do transfers to bank account only.

Of course , seller only wants cash in Argentina!!

Anyone know of service to bring in USD cash for a fee , legally? thanks!
 

antipodean

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Talk to your bank. If you have a DNI and are in a regular situation and all you should be able to open a USD account here to send yourself USD from your own USD account abroad (names must be identical.) You then go to your bank here and withdraw your USD from your USD account in USD cash.
 

Val555

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Talk to your bank. If you have a DNI and are in a regular situation and all you should be able to open a USD account here to send yourself USD from your own USD account abroad (names must be identical.) You then go to your bank here and withdraw your USD from your USD account in USD cash.
I'm on a tourist visa but I have argentinian gf.

Even if I had dni, and bank account here, trusting an argentinian bank to release say 100$k USD seems risky?
 

lunar

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I even trust "illegal" cuevas more than argentinian banks.
I think you should go to calle Florida and ask around who can bring 100k USD into the country for you then. Throw some 100 dollar notes along the way to leave the paper trail.
 

nikad

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I'm on a tourist visa but I have argentinian gf.

Even if I had dni, and bank account here, trusting an argentinian bank to release say 100$k USD seems risky?
We did it 6 years ago no problem. The only real problem I see is that you are not residing here legally and transferring that amount to your girlfriend will not work as she will not be able to prove the source of funds. The easiest way is to get married. Or try to get some kind of legal residency that allows you to open your own bank account and wire the money. If you use a cueva, you will get the cash ok, you might be able to buy no problem, but when you try to sell the property you will have a lot of trouble with afip, etc.
 

Val555

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I think you should go to calle Florida and ask around who can bring 100k USD into the country for you then. Throw some 100 dollar notes along the way to leave the paper trail.

It's no wonder all real estate sales in Argentina are done in USD cash? Surely, because argentinian banks are so safe.
 

steveinbsas

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You should (I hope) be able to transfer the funds through a financial institution like Banco Piano and you should be able to get a CDI from AFIP to buy the property in your name, using your passport.

That's what I did when I bought my apartment in Recoleta in 2006. I did not actualy use Banco Piano. I used another financial institution that was suggested by the real estate broker who had the listing for the apartment I was buying, but I don't remember the name of the finincial institutiion at the moment. I recently spoke with the real estate broker who handled the sale of both of my apartments in Capital Federal (in 2009 and 2010). after another expat asked the same question about how to get USD into Argentina to buy property. He strongly suggests using Banco Piano.

If you don't have a DNI you may not be able to transfer more than the amount stated on the escritura plus the escribano's fees and taxes. I am not sure about the current rules. My Argentine girlfriend in 2006 wanted me to send the funds from my bank to a "special account" her lawyer was going to open. She also insisted I put her name on the title or I would be arrested and go to jail for money laundering.

I dumped the girlfriend and the lawyer before the ecsritura and everything went well. The escritura took place in a private room of the exchange company I used to receive the funds sent from my US bank. I did not actually have to have an Argentine bank account to receive the funds and the property I bought was in my name only. No one ever came after me for, as my Argentine girlfriend actually said, "Washing the money."
 
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Val555

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The escritura took place in a private room of the exchange company I used to receive the funds sent from my US bank.
Hi Steve, do you remember the exchange company you used ?

Seems to me , companies don't deal in cash now. Though , I will contact banco piano if they can provide cash if I transfer USD from my foreign account.
 
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