Is A Huge Income Increase For The Visa Rentista Longoverdue?

[sesamosinsal]

In fact, the exchange does on occur in Argentina.

Not as far as MMT is concerned. The receipt one signs explicitly states otherwise. Xoom tells More that the recipient should receive x in pesos. Hear no evil, see no evil. Xoom is untouchable by Argentine courts.

So, the onus will be on you to explain how you were able to transfer $1,000 via Xoom (that's who debits the funds from your account, not MMT) and receive $14,000 ARS here in Argentina.

 

[steveinbsas]

Not as far as MMT is concerned. The receipt one signs explicitly states otherwise. Xoom tells More that the recipient should receive x in pesos. Hear no evil, see no evil. Xoom is untouchable by Argentine courts.

So, the onus will be on you to explain how you were able to transfer $1,000 via Xoom (that's who debits the funds from your account, not MMT) and receive $14,000 ARS here in Argentina.

The explanation is the simple truth. (There was a typo in my previous post: "on" should have been "not".) The "exchange" is NOT made in Argentina. Argentina cannot control exchange rates of dollars for pesos that take place in other countries.

The question of a taxable gain is a different issue. There is no issue regarding "washing the money" if the funds that were exchanged were acquired legally.

If receiving the pesos in Argentina was not legal, the Argentine partner (MMT) could not accept them and will not accept them without proper documentation regarding the origin of the funds when required by Argentine law.

 

[ghost]

Steve, your headline is misleading!

 

[steveinbsas]

Steve, your headline is misleading!

How so? What do you think is "misleading" about asking this question?

When I started the thread the official monthly amount on the migraciones website was (and still is) $8000 pesos. If an official increase has been decreed, the website does not reflect it. What has been reported since I started the thread is that migraciones is telling foreigners that they need $2200 USD per month to qualify for the visa. I am sure that there are foreigners who read the info on the website and believe that $8000 pesos per month is enough. One member recently asked me if the amount was $8800 and not $8000. Apparently the answer is neither.

An official increase (from $8000 to at least $18,000) is long overdue.

If anything, the information on the migraciones website is misleading.