How to get money *out* of Argentina?

[nikad]

nikad, I don't know how to PM on here but we have a substantial amount of US$ to transfer out of Argentina, entirely legal and provable. Result of a house sale and my wifes fathers legacy but we cannot seem to find a route to do it. Can you help? Edited to clarify, my wife is an Argentinian national, but an expat. She will be in Argentina to finalise the paperwork in two weeks, we have had a lawyer trying to solve this for weeks, but still don't have an answer on how things work. We are in the EU, and your posts have looked like the most informed we can find. Happy to pay a fee of course for a solution.

Just emailed you

 

[Ngh]

In a very similar position to you Captchaos... were you able to get the money out? I have dollars from a house sale (inheritence) which I'm looking to move to the UK.

 

[Rich One]

It's an act of faith... you give them the pesos here and THEN they will credit your account in the USA...

Now if you have a local bank account here have a dollar account , may be different. your Argie bank can arrange for you to purchase Argie stocks quoted in the NY stock exchange paying here in pesos and then sell them sending the dollar amount to your USA bank account.

 

[MilHojas]

Now if you have a local bank account here have a dollar account , may be different. your Argie bank can arrange for you to purchase Argie stocks quoted in the NY stock exchange paying here in pesos and then sell them sending the dollar amount to your USA bank account.

There is no reason to do this anymore. As long as you can justify origin of the funds and have a dollar account here, just go to your bank and request a wire transfer. The account needs to be approved first for "comercio exterior" and it may take a week or two, but everything is done through the bank.

 

[earlyretirement]

There is no reason to do this anymore. As long as you can justify origin of the funds and have a dollar account here, just go to your bank and request a wire transfer. The account needs to be approved first for "comercio exterior" and it may take a week or two, but everything is done through the bank.

Yep. Totally correct. It used to be a major pain but these days as long as the funds are legal and declared you can wire it to yourself. I sold an apartment recently and was able to wire the $275,000 US to my USA bank. There was a commission of about 0.5% but that was much lower than what private exchange houses wanted.

The rate these days is CRAZY high at private institutions to wire funds out. There are so many people trying to do it it's caused the rate to skyrocket to about 5.5% as of last week. I've never seen it that high in 16 years of working in Argentina.

 

[notebook.fix]

Is there any way to send money FROM Argentina TO the US/Europe?

Now I'm asking nicely so please no making fun of me for my ignorance - I know this is probably near impossible/difficult to do. But my question is, is someone has investments/income (in pesos) here and wants to send money to themselves/someone else abroad, is there any alternative to actually coming here, changing the money to dollars on the black market, then trying to haul it away in your money belt and hope the dogs don't catch you?

Thanks in advance for your wisdom.

Maybe you could consider opening an account with coinbase.com - then buying crypto/bitcoin here in order to transfer across into your new coinbase account where you then exchange back to US dollars ..but there'll be fees too. Just at thought.

 

[Flower]

Yep. Totally correct. It used to be a major pain but these days as long as the funds are legal and declared you can wire it to yourself. I sold an apartment recently and was able to wire the $275,000 US to my USA bank. There was a commission of about 0.5% but that was much lower than what private exchange houses wanted.

The rate these days is CRAZY high at private institutions to wire funds out. There are so many people trying to do it it's caused the rate to skyrocket to about 5.5% as of last week. I've never seen it that high in 16 years of working in Argentina.

I am selling a property right now and have ran into a similar problem, however, I do not have an Argentina bank account, and will only be in Argentina for a week. Is there something similar that I can do?

 

[earlyretirement]

I am selling a property right now and have ran into a similar problem, however, I do not have an Argentina bank account, and will only be in Argentina for a week. Is there something similar that I can do?

Can you ask the buyer to just wire the funds to your bank outside Argentina? Just make it a condition of the sale.

 

[cinereus]

Yep. Totally correct. It used to be a major pain but these days as long as the funds are legal and declared you can wire it to yourself. I sold an apartment recently and was able to wire the $275,000 US to my USA bank. There was a commission of about 0.5% but that was much lower than what private exchange houses wanted.

The rate these days is CRAZY high at private institutions to wire funds out. There are so many people trying to do it it's caused the rate to skyrocket to about 5.5% as of last week. I've never seen it that high in 16 years of working in Argentina.

What does one do if only in Argentina for a few weeks (so no bank account here) and needs to get pesos/dollars out to an account in Europe? Can you set up a SWIFT transfer somehow?

 

[sts7049]

a significant amount?