Instruction for getting Rentista Visa

[yamrit]

I am looking for meaningful information on what is required for getting the rentista visa granted. I heard it has become very difficult and lengthy. What monthly payments are required, and how to document them? I understand, I can have a trust (some kind of company) and pay some monthly amount. I appreciate any external links that help. I believe many others need the same.

 

[steveinbsas]

I am looking for meaningful information on what is required for getting the rentista visa granted. I heard it has become very difficult and lengthy. What monthly payments are required, and how to document them? I understand, I can have a trust (some kind of company) and pay some monthly amount. I appreciate any external links that help. I believe many others need the same.

Many have asked and many have answered:

Search

baexpats.org

 

[DarrenKK]

Many have asked and many have answered:

Search

baexpats.org

They have Steve, yes; and on a continuum. And on a continuum things change.

 

[steveinbsas]

They have Steve, yes; and on a continuum. And on a continuum things change.

This thread was started just over a year ago and takes a deep dive into the current requirements following the most recent reforms:

New rentista requirements: 2000 usd per person

FYI: https://www.boletinoficial.gob.ar/detalleAviso/primera/287842/20230606

baexpats.org

 

[yamrit]

This thread was started just over a year ago and takes a deep dive into the current requirements following the most recent reforms:

New rentista requirements: 2000 usd per person

FYI: https://www.boletinoficial.gob.ar/detalleAviso/primera/287842/20230606

baexpats.org

Thanks for the thread and the link. I already went through the forum and the government sites, however it doesn't really give any clue and there is no concise instruction on how to document things. Spanish as language is not the problem. I believe an immigration helper with knowledge of the procedures is required. From what I saw, many applicants apparently have some US company with some amount in a corporate account, then present it as a trust somehow, do some monthly payments and after a while they get the temporary visa. For doing these procedure one would need examples and templates to follow, I guess.

 

[steveinbsas]

Thanks for the thread and the link. I already went through the forum and the government sites, however it doesn't really give any clue and there is no concise instruction on how to document things.

When I applied for the visa rentista based on income which was generated by a trust, I wrote a cover letter which was attached to a copy of the trust document. The letter was signed by the lawyer and notarized so it could recieve the Apostille by the Secretary of State in Illinois.

I also wrote a letter for an officer at the bank where the monthly checks sent by the brokerage which dispersed funds from the trust were deposited. The letter verrified the monthly deposits to my account and indicated that I couldaccess the funds in Argentina by using my ATM carboth of the letters were notarized and therefore could recieve the Apostille.

When I submitted the letters with legal translations made in Argentina in person to migraciones, I was asked if I had reciepts that showed withdrawals in pesos sufficient to meet the monthly income requirement.

Fortunately, I was able to provide them. I was not asked to provide the bank statements showing the deposits and I did not include them with the letter written on bank stationery. I did not include any communication from the brokerage, though i could have if migraciones had asked for something. Migraciones did not ask questions about the funds in the trust. It was obvious that the trust had been funded by my dad while he was living and I had already been recieving income from the trust for more than five years.

All migraciones wanted to see was that the cash flow was sufficient to meet the monthly income requirement (at the time $2500 pesos) and that it was reasonable to assume the payments would continue for the next twelve months, and that's all.

I realize there have been changes to the requirements regarding sending and recieving the funds for the visa rentista, but, if the basic requirement is still to have a stable and unterruptable as well as passive source of foreign income in whatever the current monthly amount happens to be, the "easiest" way I can think of to accomplish this is to set up a trust account with a bank that is funded in advance with enough funds to satisfy the monthly income requirement for at least a year, though I would suggest funding the account in advance with enough funds for eighteen months.

At this time that's $18,000 USD and my suggestion is to fund the trust account with $6000 in cash and two six thousnd dollar certificates of deposit that would mature and convert to cash within the account as planned in advance. I also suggest that the bank begIns paying out at least the five salarios minimum to a personal account of the income beneficiary of the trust. After the latter recieves the precaria and has an Argentine banlaccount, they can begin making the direct transfers from their US to their Argentine account.

Spanish as language is not the problem. I believe an immigration helper with knowledge of the procedures is required.

I learned from experience that an immigration lawyer was unecessary when apply for the visa rentista. All that was and still is required is having the verrifiable stable monthly income. It is undoubtedly more complicated if the passive income has nor been locked in for an extended period of time or is from a source that is difficult to predict future continuation, but when the monthly income is generated by funds 8n a trust that cannot be touched (the principle invaded) by the foreigner during the twelve month life of the residency, it's as close to a slam dunk as there ever can or will be.

From what I saw, many applicants apparently have some US company with some amount in a corporate account, then present it as a trust somehow, do some monthly payments and after a while they get the temporary visa. For doing these procedure one would need examples and templates to follow, I guess.

I had already been living outside of the USA for more than five years before arrivng in Argentina and had no business intrests since leaving Chicago on November of 2000. I started recieving income from the trust just prior to my dearture. I had no templates to follow or sample letters to copy to have the lawyer or bank officer in the USA write. I developed the stragety an executed it after firing the Argentine lawyer my first (and only) Argentine girlfriend use. Then I fired her, too.

I did go to migraciones with a "friendly interpreter" when I applied for the visa rentista. She only acted as a translator and her help was instrumental in my easily obtaining (and a year later renewing) my temporary residency.

 

[steveinbsas]

...I would suggest funding the account in advance with enough funds for eighteen months.

At this time that's $18,000 USD and my suggestion is to fund the trust account with $6000 in cash and two six thousnd dollar certificates of deposit that would mature and convert to cash within the account as planned in advance. I also suggest that the bank begIns paying out at least the five salarios minimum to a personal account of the income beneficiary of the trust

Correction: Given the fact that five salarios minimumo mensuales is currently total close to $1,400 USD, I think it would be advisable to initially fund the trust account with sufficient funds to disperse at least $1,500 USD per month for 18 months ($27,000)....per person.

 

[yamrit]

When I applied for the visa rentista based on income which was generated by a trust, I wrote a cover letter which was attached to a copy of the trust document. The letter was signed by the lawyer and notarized so it could recieve the Apostille by the Secretary of State in Illinois.

I also wrote a letter for an officer at the bank where the monthly checks sent by the brokerage which dispersed funds from the trust were deposited. The letter verrified the monthly deposits to my account and indicated that I couldaccess the funds in Argentina by using my ATM carboth of the letters were notarized and therefore could recieve the Apostille.

When I submitted the letters with legal translations made in Argentina in person to migraciones, I was asked if I had reciepts that showed withdrawals in pesos sufficient to meet the monthly income requirement.

Fortunately, I was able to provide them. I was not asked to provide the bank statements showing the deposits and I did not include them with the letter written on bank stationery. I did not include any communication from the brokerage, though i could have if migraciones had asked for something. Migraciones did not ask questions about the funds in the trust. It was obvious that the trust had been funded by my dad while he was living and I had already been recieving income from the trust for more than five years.

All migraciones wanted to see was that the cash flow was sufficient to meet the monthly income requirement (at the time $2500 pesos) and that it was reasonable to assume the payments would continue for the next twelve months, and that's all.

I realize there have been changes to the requirements regarding sending and recieving the funds for the visa rentista, but, if the basic requirement is still to have a stable and unterruptable as well as passive source of foreign income in whatever the current monthly amount happens to be, the "easiest" way I can think of to accomplish this is to set up a trust account with a bank that is funded in advance with enough funds to satisfy the monthly income requirement for at least a year, though I would suggest funding the account in advance with enough funds for eighteen months.

At this time that's $18,000 USD and my suggestion is to fund the trust account with $6000 in cash and two six thousnd dollar certificates of deposit that would mature and convert to cash within the account as planned in advance. I also suggest that the bank begIns paying out at least the five salarios minimum to a personal account of the income beneficiary of the trust. After the latter recieves the precaria and has an Argentine banlaccount, they can begin making the direct transfers from their US to their Argentine account.



I learned from experience that an immigration lawyer was unecessary when apply for the visa rentista. All that was and still is required is having the verrifiable stable monthly income. It is undoubtedly more complicated if the passive income has nor been locked in for an extended period of time or is from a source that is difficult to predict future continuation, but when the monthly income is generated by funds 8n a trust that cannot be touched (the principle invaded) by the foreigner during the twelve month life of the residency, it's as close to a slam dunk as there ever can or will be.


I had already been living outside of the USA for more than five years before arrivng in Argentina and had no business intrests since leaving Chicago on November of 2000. I started recieving income from the trust just prior to my dearture. I had no templates to follow or sample letters to copy to have the lawyer or bank officer in the USA write. I developed the stragety an executed it after firing the Argentine lawyer my first (and only) Argentine girlfriend use. Then I fired her, too.

I did go to migraciones with a "friendly interpreter" when I applied for the visa rentista. She only acted as a translator and her help was instrumental in my easily obtaining (and a year later renewing) my temporary residency.

 

[yamrit]

Thank you, all that is helpful and gives some good outline of the steps and requirements. I will give it a try, and hopefully I can get it done by way of trial and error with Migraciones.