How to open a bank without a DNI

[Alby]

No need to scare people unnecessarily. Yes, the number 5 could change to 6 or 7, or more at any time, but there were special circumstances that saw the current system brought in. Migraciones staff themselves openly admit that the requirement for 5 x the monthly minimum wage was a one-off to stem the massive influx of Russians at the time. Also, the resolution explicitly started that the purpose of the new system was to avoid the need for Migraciones to keep issuing changes to the number to keep pace with inflation.

(It would be interesting to know if, in practice, Migraciones are applying the rule to both members of a couple, i.e., each has to open their own sepárate account and each has to deposit the amount, each month.)

 

[steveinbsas]

...the resolution explicitly started that the purpose of the new system was to avoid the need for Migraciones to keep issuing changes to the number to keep pace with inflation

"Keep issuing charges to the number to keep pace with inflation" implies, at least as far as I understand the meanings of those words, that the number has changed frequently.

When I first applied for the visa rentista in 2006 the income reqirement was most often expressed in dollars and the figure actually used by migraciones was $700 pr $750 USD which was a little over $2000 peso. The exchange rate at the time was a little over thee to one.

In 2010 migraciones "suddenly" increased the monthly income reqirement to $8000 peso/$2000 USD (about four to one) and I wrote about here:

Shocking new income requirement for visa rentista?

In a yahoo group forum of BA expats I just read a post that "reported" new visa rentista/pensionado income requirements of $2000 U$D per person per month (up from $700U$D per family per month). I wonder if this is true and if the new income requirements will be "applied" to those renewing visas...

baexpats.org

The next time the rate was officially increased the exchange rate was fifteen to one and the new monthly income reqirement was set.at $30.000 pesos and, according to khairyexpat (who started the "immigration for dummies" thread), expats were still able to qualify for temporary residency at the $8000 peso pet month level until it was increased to $30.000. I don't know if they actually granted temporary residency at the $30.000 pesos per month rate until the change to five minimum monthly wage took effect. By then, that would have been an absurdly low amount in dollars, but I don't remember reading any posts by members who were required to.meet a higher income threshold before the latest increase.

So, as far as I know, there have been only three official increases of the monthly income reqirement since my arrival. The change to five minimum monthly wages was made when my monthly cost of living was about $150 USD. I have made no changes to my lifestyle since then and my monthly cost of living is now creeping towards $600USD.

I was granted permanent residency in 2009 and never had to show an income of more than $700 USD per month. I started the residency process shortly after getting my one and only 90 day prorroga just before my.tourist visa would have expired. I got my precaria in late October of 2006 and was able to get permanent residency just before the $2000 monthly income reqirement took effect in 2010. I still had to provide the proof of my income for the third and final renewal, so it all came down to lucky timing. I was never close to a monthly income of $2000 and, even now, it's 20% less than half that amount.

I'm not complaing. I am happy with my life here, living in a house I saw in person for the first time, fifteen years ago today.

 

[steveinbsas]

The change to five minimum monthly wages was made when my monthly cost of living was about $150 USD. I have made no changes to my lifestyle since then and my monthly cost of living is now creeping towards $600USD.

As Sergio wrote in snother thread, most expats would not want to live as 'frugal' lifestyle as I do. Of course his observation was accurate: very few would, but any foreigner applying for the rentista or pension visa today would only need to show monthly income of just under $1,500. If they have to pay rent and live in CABA I wish them well and hope they enjoy the lifestyle there as much as I enjoy mine in el Campo

(It would be interesting to know if, in practice, Migraciones are applying the rule to both members of a couple, i.e., each has to open their own sepárate account and each has to deposit the amount, each month.)

Yes, it would be very interesting.One current member has mentioned that he is struggling to survive on a monthly pension income of about $1200 USD, paying half of it in monthly rent, not eating in restaurants or even drinking coffee.

I cannot imagine a foreign couple being able to live happily (or even survive) on one income of five minimum monthly salaries, without trying to make some money in Argentina.

And I wonder how much they would enjoy the low quality of life such a low income would provide. I imagine they would become dependent on the public health care system and only be 'happy' because it's '"ftee" (not really/.

I think that basing the monthly income requirement for the temporary residency on minimum monthly salaries was brilliant. The salario can be increased little by little so as not to have a significantly negative impact on Argentine workers whose jobs could be at risk if the minimum is increasedt oo much too fast,

Obviously, job preserbation is not something that applies to foreigners who aren't working and should be able to carry their own weight, never becoming a drain on the resources of their host county.

Even if the monthly income requirement was raised to seven salaries tomorrow it would be very close in dollars to the requirement of 2010 Anyone who was here then should be able to remember how much more two thousand dollars would buy, but most expats who were here then have already left.

As I posted in another thread;