New rentista requirements: 2000 usd per person

[TruchoTango]

It took a couple hours to come up with a way for someone (like me) who has a monthly income in the USA that is well below the new requiremet ( about $1,420 USD) for the "Rentista Jublacion" in Argentina.

I would come as a tourist and immediately open whatever bank account I could and begin to transfer (I would use Western Union) at least $355.000 pesos per month or what ever amount is required for that month

At the present WU rate, that's less than $1000. (perhaps slightly more,depending on the WU fee).

Soon I would have two months statenments from an Argentine bank to submit to migracciones with my other docs.

Of course I could make the transfers for more than two months if that is necessary, but I woud want to bring my FBI report with me to submit before its 90 day limit ran out.

Anyone who can is most welcome to add to or shoot holes in this plan.

In my recent experience with Migraciones, as a holder of a residencia rentista, Migraciones is demanding bank statements that show DIRECT transfer of monies from my pertinent bank account in the US to my Argentine bank account. Your experience may vary, but it's possible the Western Union end around that you contemplate, will not comply.

 

[Alby]

That is interesting. Migraciones have previously required this for the Rentista category only. The Disposición says the requirement continues for the Rentista, but does not extend it to the Pensionista residency.

 

[steveinbsas]

That is interesting. Migraciones have previously required this for the Rentista category only. The Disposición says the requirement continues for the Rentista, but does not extend it to the Pensionista residency.

That was my first impression.

 

[steveinbsas]

In my recent experience with Migraciones, as a holder of a residencia rentista, Migraciones is demanding bank statements that show DIRECT transfer of monies from my pertinent bank account in the US to my Argentine bank account. Your experience may vary, but it's possible the Western Union end around that you contemplate, will not comply.

My plan actually included transferring funds from the US bank account to an Argentine bank account.

The reason I shot it down was that I thought migraciones might calculate the foreign income that was being transferred at the official rate.

But now that I have given it more thought (thanks to your post), I wonder if that would matter if the income requirement is stated in pesos and the deposit in Argentina meets the monthly requirement.
,
I don't think my "bank to bank idea constitutes an "end around plan" as long as the end result satisfies migraciones.

 

[Alby]

In my recent experience with Migraciones, as a holder of a residencia rentista, Migraciones is demanding bank statements that show DIRECT transfer of monies from my pertinent bank account in the US to my Argentine bank account.

May I ask you to clarify this?

1. At what point in the process did Migraciones demand these bank statements (for example, were you seeking to renew a 12-month temporary pensionist residency for another 12 months and to grant it they wanted to see that you had been bringing funds in through the banking system over the previous 12 months)?
2. Given that until now there has been no minimum amount specified, did Migraciones also require that these transfers total a certain amount in pesos, and if so, what was that amount?
3. How did you respond to meet this new (and apparently not backed by legislation) requirement?

 

[steveinbsas]

My plan actually included transferring funds from the US bank account to an Argentine bank account.

...by using Western Union from within my bank accountto transfer the funds directly into my Argentine bank account.

This raises the question, why would that not be direct enough?

My US bank statements show the source of the funds and my Argentine bank statements show the source of the deposits.

If I transferred dollars directly to my Argentine bank account and migraciones calculated their value in pesos I would have to transfer twice as much each month to satisfy the required amount in pesos in BC_2's post.

That would put me out of the running, even if I could withdraw the dollars and convert them at the blue rate.

 

[Alby]

Yes, by using Western Union from within my bank account.
This raises the question, why would that not be direct enough?

My US bank statements show the source of the funds and my Argentina bank statements show the source of the deposits.

I don't think it's got anything to do with directness, nor does it even specify that the funds have to go into a bank account. This is why Trucho's post is so interesting (quite apart from the fact that it refers to Pensionista residency, which hasn't (and still doesn't, according to the Disposicion) require funds to enter the country at all).

The Disposicion (and the one it replaces) says the following, in respect of the Rentista residency:

"...por intermedio de instituciones bancarias o financieras autorizadas por el BANCO CENTRAL DE LA REPÚBLICA ARGENTINA"

I read that as allowing one to bring in money (via Western Union, for example, assuming it is authorized by the Banco Central, which I guess it must be), and not even necessarily then depositing it in a bank account.

 

[arvest]

Can someone provide clarification on allowable sources of income for the rentista visa? Is it strictly passive, can it be from remote work for example?

 

[Alby]

Can someone provide clarification on allowable sources of income for the rentista visa? Is it strictly passive, can it be from remote work for example?

The new Dispocion says:

ARTÍCULO 3°.- Establécese que la renta a acreditar deberá constituir un beneficio proveniente de activos incorporados al patrimonio del solicitante (instrumentos financieros, inmuebles, participaciones en empresas, u otros extremos a juicio de la DIRECCIÓN GENERAL DE INMIGRACIÓN) no incluyéndose en esta categoría retribuciones obtenidas por el trabajo personal.

So there is almost no complete clarity possible in that (i) the terms instrumentos financieros, inmuebles, participaciones en empresas are somewhat vague and (ii) by saying otros extremos a juicio de la DIRECCIÓN GENERAL DE INMIGRACIÓN they seem to be giving themselves leeway to consider other structures that applicants might come up with. The one thing that seems completely clear (no incluyéndose en esta categoría retribuciones obtenidas por el trabajo personal) is that they will NOT accept income from work or employment.

 

[Bajo_cero2]

Can someone provide clarification on allowable sources of income for the rentista visa? Is it strictly passive, can it be from remote work for example?

No. This is the DN.