Old Topic But Out Of Touch - Can You Transfer Us$ Abroad

[OnlyMe]

I hope someone in this forum can help me, found it by chance and registered so thanks in advance for your help.
I own a flat in BA. I live in UK, and have dual Arg-Br citizenship. Born in Argentina, residing in UK since 1980.
Back in '08 I sold a flat I inherited in BA and got the money out legally, no probs.

I have another small flat in BA which is managed by a local estate agent.
I would have sold it by now except I cannot get the funds out due to the govt.restrictions on US$...unless anyone is aware of a legal way to do so... :mellow: ...

Right now the small flat is been redecorated ready for the next tenant as there's no other option.
However, the inmobiliaria tells me they cannot transfer my rental money to UK either...so it all sits in BA with estate agent devaluing in pesos (and being used to redecorate after yet another tenant destroys the place).

My question is: How do I get my rental payments transfered to UK? Agents tell me western union, etc are now impossible to use. The monthly rental payment will be modest, so when WU transfers were allowed (pre 2012) I used to request a transfer once every 3-4 months....has there been any relaxing of the rules to transfer small amounts of US$ abroad?
Or are the estate agents just working my rental money?

If you know of any places that offer the service please could you let me know and post the weblink here.

Muchas gracias!

 

[Sleuth]

I see a number of possible scenarios. Please note that most of these I do not have experience with, but am aware of them through reading this forum. Also, you do not say where the apartment is. Is it furnished or unfurnished? Do you have family members in Argentina or abroad?

Here are my thoughts:

SELL
1. Foreigners can legally sell their apartments and transfer the funds out of the country. This may or may not apply to you as you have dual-citizenship.
2. There are transfer houses that can get your money out of the country. You'll need to convert at the blue rate and pay a higher transfer fee than in the past, but it is still possible. You'll need to ask around.

RENT
1. Send the rental amounts via PayPal. While Argentine to Argentine transactions are not allowed, transactions from Argentines to foreign accounts are. (I can send money to my US account from my wife's Argentine account.)
2. Rent to expats. There are always people on this forum looking for affordable housing. Arrange to accept payment through wire transfer or PayPal. Then hire a property manager here to just handle check in, check out, etc.
3. Rent short-term on AirBNB. Set it up so that all rental amounts go directly to your UK account. How much you make depends on location, apartment, amenities, etc. Of course it would also need to be furnished. Then, just hire a property manager to do check in/check out and management.
4. Send up to U$S 1500/month to a family member outside of Argentina with ayuda familar. If you have family members here, have them send it to you. If you have family members abroad, see if you can send it to them.
5. Convert to dollars at the blue rate and save it here. Pick up when you come.

 

[mariposa]

I don't know about the dual citizenship aspect.

I just sold my house and had the money (dollars) out the next day. I know of many places that do that if you can justify the funds (as in escritura). No problem whatsoever.

 

[Splitty]

I hope someone in this forum can help me, found it by chance and registered so thanks in advance for your help.
I own a flat in BA. I live in UK, and have dual Arg-Br citizenship. Born in Argentina, residing in UK since 1980.
Back in '08 I sold a flat I inherited in BA and got the money out legally, no probs.

I have another small flat in BA which is managed by a local estate agent.
I would have sold it by now except I cannot get the funds out due to the govt.restrictions on US$...unless anyone is aware of a legal way to do so... :mellow: ...

Right now the small flat is been redecorated ready for the next tenant as there's no other option.
However, the inmobiliaria tells me they cannot transfer my rental money to UK either...so it all sits in BA with estate agent devaluing in pesos (and being used to redecorate after yet another tenant destroys the place).

My question is: How do I get my rental payments transfered to UK? Agents tell me western union, etc are now impossible to use. The monthly rental payment will be modest, so when WU transfers were allowed (pre 2012) I used to request a transfer once every 3-4 months....has there been any relaxing of the rules to transfer small amounts of US$ abroad?
Or are the estate agents just working my rental money?

If you know of any places that offer the service please could you let me know and post the weblink here.

Muchas gracias!

Many forum users are trying to find a way to get pesos or USD here from their accounts overseas. Some people here may swap $$ with you and deposit into your acct in the UK.

 

[etoile]

I see a number of possible scenarios. Please note that most of these I do not have experience with, but am aware of them through reading this forum. Also, you do not say where the apartment is. Is it furnished or unfurnished? Do you have family members in Argentina or abroad?

Here are my thoughts:

SELL
1. Foreigners can legally sell their apartments and transfer the funds out of the country. This may or may not apply to you as you have dual-citizenship.
2. There are transfer houses that can get your money out of the country. You'll need to convert at the blue rate and pay a higher transfer fee than in the past, but it is still possible. You'll need to ask around.

RENT
1. Send the rental amounts via PayPal. While Argentine to Argentine transactions are not allowed, transactions from Argentines to foreign accounts are. (I can send money to my US account from my wife's Argentine account.)
2. Rent to expats. There are always people on this forum looking for affordable housing. Arrange to accept payment through wire transfer or PayPal. Then hire a property manager here to just handle check in, check out, etc.
3. Rent short-term on AirBNB. Set it up so that all rental amounts go directly to your UK account. How much you make depends on location, apartment, amenities, etc. Of course it would also need to be furnished. Then, just hire a property manager to do check in/check out and management.
4. Send up to U$S 1500/month to a family member outside of Argentina with ayuda familar. If you have family members here, have them send it to you. If you have family members abroad, see if you can send it to them.
5. Convert to dollars at the blue rate and save it here. Pick up when you come.

Yep. Best answer definitely.
I've been doing that. Paypal----Lloyds UK

 

[OnlyMe]

Hi Sleuth, mariposa, Fried Turkey and etoile
Thank you very much for taking the time to reply, your feedback has given me some ideas and glad I found this forum!
The flat is being painted at the moment, and having the floors repolished ready to be marketed by the local inmobiliaria.
I can also try and market it via this forum and post the inmobiliaria details when ready, and maybe arrange part of rent to be paid to my paypal account in equivalent GBP or US$ currency (a portion would still need to be paid in local currency to cover building admin and agents commission and contingency for repairs).

I cannot furnish I'm in UK so it will have to go on a long time rental (the agents tell me unfurnished flats must be rented for a min 2 year period by law) but will put a new cooker in.
OR

I could try and sell it and live with the official xchange rate provided I can get the money transfered out to my UK account...
Mariposa: would you mind sharing the names of the agencies you used to transfer the funds out of Argentina? Or a link to their website...
It is such a lot of hassle to keep this flat in BA if I can get the money out legally I would...

I will consult with the Consulate in London where I stand re dual citizenship rules.
Thanks again!