Minimum investment for residency?

[steveinbsas]

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?

If the money is in a foreign bank, producing foreign income, wouldn't the OP need at least another 100K (if not much more) to start a (decent) hostel in BA? I think he wants to own and run his own business (as opposed to working for someone else) and used the 100K figure because he believed "in some places if you invest $100k you are entitled to become a resident."

 

[elhombresinnombre]

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

Hmmm... In answer to your original question, I was going to direct you to the website of the Argentine Embassy in London but I see they no longer seem to be displaying an investor category of resident (Translation: I can't find it there any more, but maybe you have better eyesight than me.) In answer to your revised question, after looking at your earlier posts about Ireland etc, while I'm not convinced that settling anywhere else just because it isn't Ireland is going to be a successful strategy for a happy and fulfilling future, I'd just like to give Paraguay a heads-up.

To declare an interest, I like Paraguay: I support an education project there and visit from time to time but it may not be everybody's gourd of terere.

There is reason to think that tourism in Paraguay is on the up and is going to increase even more: Bradt guides have just published the first ever stand-alone, English-language guide to the country http://www.bradt-travelguides.com/details.asp?prodid=220 so it might be a place to consider a business start-up of the kind you were suggesting. Also, from discussions in another place, http://britishexpats.com/forum/showthread.php?t=698098 it appears that the price of economic citizenship is quite low. But I haven't checked or verified the assertion: I'll leave that to you.

 

[mini]

If the money is in a foreign bank, producing foreign income, wouldn't the OP need at least another 100K (if not much more) to start a (decent) hostel in BA? I think he wants to own and run his own business (as opposed to working for someone else) and used the 100K figure because he believed "in some places if you invest $100k you are entitled to become a resident."

Yes of course. It depends what the end goal is. Does he want to live in SA and thinks investing in a business is the only way to get a visa? Or does he want to own a business in SA? If the former than with 100k he can get a rentista. If the latter then no go, not with 'only' 100k in AR.

ETA:
I'm sure I read on here that the investor visa was no longer being offered but I can't find it. Wasn't it Katti that had this problem? Anyone remember/can find the thread?

 

[jb724]

thanks to those who replied.I want to be able to work if I invest in something not just sit on my ass I am only 38 years old so bit too young for that.. so owning a business was the original idea i had.Can you work on a rentista visa? Elhombre -my strategy for leading a more fulfilling life by living anywhere that isnt Ireland is not what I am trying to do. Currently the future here and lifestyle isnt too appealing to me.Having travelled a lot of the world with work (including S America) to be honest I liked the 'feel' of Argentina/S America if thats understandable. Thanks for opinions all ..keep them coming please

 

[mini]

Can you work on a rentista visa?

IIRC, yes. Once you have your rentista visa you can work. I'm sure others will come by and give you more details.

 

[fred mertz]

Have you thought about Suriname?

 

[jb724]

Suriname? No havent thought of it.Can you elaborate as to why there please?

 

[Gilani]

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.

Steve, what are the requirements for worldwide income tax, if the resident/citizen does not stay in Argentina for more than 3-5 months a year...and has zero income in Argentina.

 

[steveinbsas]

Steve, what are the requirements for worldwide income tax, if the resident/citizen does not stay in Argentina for more than 3-5 months a year...and has zero income in Argentina.

Generally, temporary and permanent residents as well as citizens do face the tax liability on worldwide income and assets. I do wonder how many Argentine citizens living and working abroad are paying taxes in Argentina on their foreign income, but since it will probably never affect me (even if I become a citizen here) I haven't sought the answer.


Temporary residency requires six months physical presence now to renew, so that would be lost at the "renewal" date, ending the tax liability on foreign income and assets. Foreigners who own property in Argentina are always liable for the bienes personales tax on all of their assets in Argentina, even if they do not set foot in the country in any given year.