New Property Law for non residents BE WARNED

[treborbb]

Be warned, now the AFIP require if your a non resident and selling a property in Argentina, you will now need an Argentian national to sign a full power escritura taking liability for any taxes the AFIP may think you should pay over the next 10 years. Also as it has to be a full POA you will be giving them the right to sell, buy open, close bank accounts etc etc. So make sure it's someone you can trust as you lose total control over your property and of course your money. Without this in place you can't now get the permission from the AFIP to sell your property.
Treborbb

 

[fifilafiloche]

What is in your opinion, the message, the motivation behind this law...Wouldnt it be a protective law against foreign investment that might feed a housing bubble in terms of local salaries buying power? Or is it because local laws make it too easy for foreigners to escape taxes?

Thanks for that important warning, trebor.