Minimum investment for residency?

[jb724]

I am looking into investing/buying a hostel in S America. I am trying to find out about residency status (for tax purposes etc.) in differing countries as it will help make a more informed decision.

I want to do this all legally obviously. It differs in each country e.g. I believe in some places if you invest $100k you are entitled to become a resident.

In relation to Argentina can anyone inform me or point me in right direction as to the rules/procedures there when it comes to obtaining residency through business investment.I have been searching but cannot find any definite answers
Appreciate any assistance.

 

[Sleuth]

investment visas require a minimum investment of AR $1,500,000 plus approval of the Argentine Ministerio de Industria for your project.

 

[steveinbsas]

I believe the investor visa must be renewed annually and I don't think it leads to permanent residency.

Here are two threads on the subject:

Law change for investment visa?

Our investment visa experience

If you start and run a successful business (i.e. demonstrate "legal means of living") you can apply for citizenship after the first year you live in Argentina and receive it at the end of the second.


Meanwhile, you may be able to qualify for the visa rentista and then you can bring as much (or little) money you need into Argentina to start your business. You just need to be able to document the source of the funds.

Here are a few threads about the visa rentista:

Shocking new income requirement for visa rentista?

New rentista visa requirements

Also keep this in mind:

Temporary residency renewals require 6 months in Argentina

This creates the possibility of taxing all of those with temporary residence on their "worldwide" assets and income even they don't have any investments in Argentina. The new income level required for the visa rensista should be an attractive target for AFIP.

 

[jb724]

thanks for the answers guys.If anyone knows of a country in S America where it may be easier or less expensive to implement my plan Id apprceiate the views.While Argentina would be my preference having travelled there a bit Im open to other areas too.
Thanks again

 

[JonM]

With this kind of money in play you need professionals, as these things change.

You want a skilled international business attorney in your home country and one on the ground (preferably politically connected as well) in your target country.

 

[soulskier]

I'd suggest using a company like http://argentinaresidency.com/

 

[Davidglen77]

In my opinion and from personal experience, (of course consult a lawyer) start an SRL which you have to do with an Argentine national (same as an LLC in the USA) and then have yourself listed as an employee. Own the property in your name only to protect it from your business partner. They can only claim a percentual ownership of things held iin the name of the SRL.

 

[steveinbsas]

I'd suggest using a company like http://argentinaresidency.com/

I don't see the investor visa in the list of "visas we offer."

http://www.argentinaresidency.com/services/argentina-visa.htm

I find the phrase "visas we offer" a bit odd as only the department of migraciones can grant visas.

Is this the same company that other memebers recently posted about price "quotes" of $3200 USD for (help in obtaining) a temporary visa and $2500 USD to "get" DNIs (only) for a family of four?

...I contacted someone at ARCA, which seems to be highly recommended, and getting DNIs through them for all four of us was $2,500 US!...

 

[Bajo_cero2]

I'd suggest using a company like http://argentinaresidency.com/

Interesting, 5 years to apply for citizenship????????????????????????????????

http://www.argentinaresidency.com/services/argentina-citizenship-passports.htm

No comments.

Regards

 

[mini]

With 100k in the bank, couldn't the OP get a rentista visa with a trust set? After the visa is issued then he could work, no? Thoughts?