Limited Liability Company ?

[igor]

Presently I am thinking about starting an LLC in the states in order to assist with obtaining a temporary residency in Argentina.

IMHO opening an LLC elsewhere does not affect your immigration status here at all. What is it you are trying to achieve? How american LLC can help you to obtain a residency in Argentina? Are you going to register a branch here?

 

[Johnny]

IMHO opening an LLC elsewhere does not affect your immigration status here at all. What is it you are trying to achieve? How american LLC can help you to obtain a residency in Argentina? Are you going to register a branch here?

As stated previously, I am looking at options to obtain a rentista visa. I've also indicated I am not optimistic about it, but looking to see if anyone else has had succuess, or no success, in trying an LLC. That's it, pure and simple.

 

[citygirl]

As it would still be active income, not passive, I'm not sure that an LLC would be useful in obtaining a rentista visa although I personally have no experience.

If you have the disposable income, you could probably deposit a lump sum in a trust and as long as it satisfies the monthly income requirements, that might be a solution.

With regards to citizenship, well, that is really a personal question. For me personally, that is not a decision that should be undertaken lightly as citizenship is a binding commitment and entail moral, legal and financial responsibilities. For me, that certainly isn't a decision you undertake to deal with a visa situation. Others may feel differently.

PS - I don't believe you can obtain citizenship, renounce it and then get residency after the fact. If you have other information, I would be very interested to read it.

 

[Johnny]

As it would still be active income, not passive, I'm not sure that an LLC would be useful in obtaining a rentista visa although I personally have no experience.

If you have the disposable income, you could probably deposit a lump sum in a trust and as long as it satisfies the monthly income requirements, that might be a solution.

With regards to citizenship, well, that is really a personal question. For me personally, that is not a decision that should be undertaken lightly as citizenship is a binding commitment and entail moral, legal and financial responsibilities. For me, that certainly isn't a decision you undertake to deal with a visa situation. Others may feel differently.

PS - I don't believe you can obtain citizenship, renounce it and then get residency after the fact. If you have other information, I would be very interested to read it.

Citygirl-thanks for your comments, always welcome. I did talk with a lawyer about the "trust" option. A few negatives about it, the government here is looking more critically at that option, and it would require a sum of $25,000US to fund the trust. That's not including lawyer fees and incidentals. If I could make the LLC option work that would be much preferable. But I agree, I think it is a longshot.

 

[citygirl]

Thinking out loud here - do you know anyone who has a company that is registered to employee extranjeros? If so, that would probably be the easiest route. That way you could get a working visa.

Or - and this might be more headache than it's worth - you can form an SA or SRL here and then employee yourself (after you register the company to employ extranjeros). You will need a local resident initially and there would be tax implications but that might be relatively pain-free. And if you work from home, etc - you can offset some of the costs of your rent from corp profits thereby lowering your overall corp tax rate. And if you are employed as director, there are some cost savings in terms of your and the company tax obligations.

Good luck - it's a tricky situation!

 

[Johnny]

Thinking out loud here - do you know anyone who has a company that is registered to employee extranjeros? If so, that would probably be the easiest route. That way you could get a working visa.

Or - and this might be more headache than it's worth - you can form an SA or SRL here and then employee yourself (after you register the company to employ extranjeros). You will need a local resident initially and there would be tax implications but that might be relatively pain-free. And if you work from home, etc - you can offset some of the costs of your rent from corp profits thereby lowering your overall corp tax rate. And if you are employed as director, there are some cost savings in terms of your and the company tax obligations.

Good luck - it's a tricky situation!

Thanks for the in and out of the box thinking ! I'll feed it all into the sifter. I'm heading over to Montevideo tomorrow and returning Thursday. If I'm lucky I'll get another 90 days to work on the issue !

 

[Bajo_cero2]

I don't know how the US handle it, but many countries take away your citizenship once they get to know that you obtained another citizenship. I prefer having an Austrian passport over having an Argentine one.

Also please clear up the point of being able to switch from Argentine citizenship to permanent residency. I was told that argentine citizenship can not be renounced. Was that a wrong information?

Just a few countries nowadays don´t accept dual citizenship.

Argentinian citizenship can be renounced anytime, it is in decrete 3213/84.

If you qualifies for citizenship, then you qualifies for permanent residency. But you have to claim for that at court.
Regards

 

[Bajo_cero2]

If you are living in Argentina then you owe Argentina income tax which is at a substantially higher rate than the U.S, , regardless of your immigration status. My guess is that when you say you are avoiding taxes here that you really mean you are evading them, i.e. you owe them but have not paid as the government is not aware of your presence. If you apply for a visa you might be putting yourself on the radar for tax purposes.

Touché!
In citizenship you don´t do that. You have to evidence honest way of living. As far as you don´t have DNI, CUIT cannot be asked (prosecutor´s opinion). So, when you get your citizenship you apply for cuit and you pay whatever your accountant advice you. Remember that monotributo starts at about 100 pesos.

If you open a company in the US, you will have issues with the IRS, you will probably lose your tax exemption.

On the other hand, savings is enough for rentista.

http://baexpats.org/expat-life/10529-shocking-new-income-requirement-visa-rentista.html

 

[Bajo_cero2]

PS - I don't believe you can obtain citizenship, renounce it and then get residency after the fact. If you have other information, I would be very interested to read it.

Why not?
You need 3 years of legal residency for permanent residency, right? And you need 2 years of residency for citizenship. As soon as you have the 3 years, the citizenship heals your illegal residency and there is no legal reason for denying it. Quien puede lo mas, puede lo menos. You do this at Court instead of at Migraciones through amparo por omisión legislativa.

Regards

 

[Johnny]

If you open a company in the US, you will have issues with the IRS, you will probably lose your tax exemption.
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My accountant in the USA is currently investigating whether I would lose my expat tax exclusion should I go the LLC route.