How to bring in USD Legally to buy property?

[gringoexpress]

If anyone can recommend a money transfer firm that can bring money in for a foreigner with no DNI, please let me know. I've checked with every single company and name I've seen posted on this board and all of them require a DNI or a local account in dollars. As far as I can tell, there is no legal way except for making a few trips across the border unless you have a DNI. For this (cheap) purchase, I don't see why making multiple border runs to mule 9900 bucks at a time in wouldn't be plausible, but in the future I may want to buy something more expensive.

 

[Utopos]

The difference between using a bond swap and a simple transfer into a dollar account from a foreign bank is this: with the bond swap, dollars are obtained. Normal transfers are converted into pesos at the official rate, dollars will not received.

I personally do not know of any other way to transfer in dollars. And I don't know of any way to do so without a DNI and an Argentine dollar bank account. Perhaps there are ways... perhaps things will change... This is just the best of my knowledge based on my experience while purchasing house in Argentina.

 

[Ronnie Hotdogs]

OK BBVA tell me I can transfer receive USD under the concept of repatriation of funds and there is no limit on this, as long as account names are the same.

 

[nikad]

If anyone can recommend a money transfer firm that can bring money in for a foreigner with no DNI, please let me know. I've checked with every single company and name I've seen posted on this board and all of them require a DNI or a local account in dollars. As far as I can tell, there is no legal way except for making a few trips across the border unless you have a DNI. For this (cheap) purchase, I don't see why making multiple border runs to mule 9900 bucks at a time in wouldn't be plausible, but in the future I may want to buy something more expensive.

Bringing cash from Uruguay or using a cueva or financiera are the same, as long as you can prove the source of funds at the time of purchasing ( depending on the amounts it is not required either )

 

[Utopos]

OK BBVA tell me I can transfer receive USD under the concept of repatriation of funds and there is no limit on this, as long as account names are the same.

I wanted to do this when I bought my house.

However BBVA repeatedly stated, orally and in writing, that I might receive dollars... OR... I might receive pesos. I would not know until AFTER I'd initiated the transfer. This despite my abundant documentation as to the source of the funds, etc.. I spoke with them several times to verify this, as did the seller of the property. We all thought it sounded like B.S.

I was not willing to cross my fingers, hoping BBVA would do the right thing. Perhaps you can try a small test transfer, but BBVA gave me no reason to trust them.

 

[desde_Holanda]

I am going to buy a house here from somebody I trust 200%. He has a dollar account in Argentina, I believe at BBVA. Seems that the easiest way would be to just transfer the official price in dollars net to his account, and that's it. I do realise that this is unusual, since normally the to be paid sum will be transferred first to a notary, who will state that the money is there, contract will be signed and then the notary will transfer the money to the seller. At least that's how it's done in my home country.

Any remarks? Anything important I don't see but is relevant for my situation?

 

[Ronnie Hotdogs]

I am going to buy a house here from somebody I trust 200%. He has a dollar account in Argentina, I believe at BBVA. Seems that the easiest way would be to just transfer the official price in dollars net to his account, and that's it. I do realise that this is unusual, since normally the to be paid sum will be transferred first to a notary, who will state that the money is there, contract will be signed and then the notary will transfer the money to the seller. At least that's how it's done in my home country.

Any remarks? Anything important I don't see but is relevant for my situation?

Main thing is that you can’t do that unless you already have the USD here in Argentina in a USD account.

 

[desde_Holanda]

Main thing is that you can’t do that unless you already have the USD here in Argentina in a USD account.

I don't get it. If I transfer USD from legal bank account X on my (buyer's) name from outside Argentina to legal bank account Y on seller's name in Argentina: that's the most usual bank transaction I can imagine. And to me seems to be equivalent to taking the dollars in a suitcase, declared, into Argentina. What makes this impossible?

Note that - contrary to what I read a lot here - seller doesn't want the USD cash.

 

[antipodean]

He has a dollar account in Argentina,

The issue is that to send USD from an account abroad that needs to end up in an Argentine USD bank account, both accounts need to be under the exact same person's name. It's part of current capital control regulations that you don't have in the Netherlands but we do have here. Otherwise if you do this transfer you describe, that account owner in Argentina will receive a bunch of pesos at 378,50 or worse - and then to change them back into dollars need to pay at least 905 pesos for each dollar.

Did they actually suggest this to you? As I'd be suprised that any Argentine resident would not understand this already....

It might be worth waiting a few months (until March) to see what changes with the new government if you can.

 

[Ronnie Hotdogs]

I don't get it. If I transfer USD from legal bank account X on my (buyer's) name from outside Argentina to legal bank account Y on seller's name in Argentina: that's the most usual bank transaction I can imagine. And to me seems to be equivalent to taking the dollars in a suitcase, declared, into Argentina. What makes this impossible?

Note that - contrary to what I read a lot here - seller doesn't want the USD cash.

What makes it impossible is that the BCRA will oblige the bank to convert the transfer to ARS at the official rate.