Proof of source of funds - Rentista visa

StephOlive

Registered
Hi There,

i know i have asked a similar question on the forum just need a bit more info regarding this, on a previous thread Steve talked about a irrevocable trust and this seems to be the best way for us to prove our income on a monthly basis.....

Regarding the rentista visa, we have a business and have now registered it as a PTY Ltd similar to the LLC. What i want to know is how can i show proof of funds with this business as part of the rentista visa application process?
When we immigrate it will keep running here from South Africa, we wont be working on it ourselves. Note that this is a Online business mostly as it is where people go and make their own websites and it is international but it is run from South Africa.

Please can you give me some advise as to how i can do this?
Do i have to make myself a shareholder and my husband stays the director so i get the shares paid in the equivalent of $1500 per month or actually more than that or what must i do? put our savings (equivalent to 2 years of income) in a irrevocable trust and get paid from the trust?
How many bank statements do they need? as i will only have the irrevocable trust start paying out once our application has been accepted?

Does the business have to earn a certain amount before i can take shares from it or can i just stipulate that it will pay out a certain amount monthly. and do i need to show bank statements for this?
THe business will always be there, i just dont know how to prove that we will get monthly payments from the business? or as i said keep the business running and then just put our savings equivalent to the 2 years of ARS$30000 per month in the trust ( we can always deposit whatever we have used in a year back at the year of the year to stay ahead).

I hope this makes sense

Please if you can help me with this as this is our only obstacle before we can start the process.
 

StephOlive

Registered
No im still in Cape Town, South Africa getting all my documents ready before we head over there. Was just wondering if someone maybe knew of a way for me to do this or who has maybe gone through it themselves.
 

Rich One

Registered
You may need legal advise, it may be difficult to evaluate from S.A. how migraciones may interpret your Fund. Passive income.
Bajo_Cero may offer some advice?
 

Wilhelm

Registered
Hi There,

i know i have asked a similar question on the forum just need a bit more info regarding this, on a previous thread Steve talked about a irrevocable trust and this seems to be the best way for us to prove our income on a monthly basis.....

Regarding the rentista visa, we have a business and have now registered it as a PTY Ltd similar to the LLC. What i want to know is how can i show proof of funds with this business as part of the rentista visa application process?
When we immigrate it will keep running here from South Africa, we wont be working on it ourselves. Note that this is a Online business mostly as it is where people go and make their own websites and it is international but it is run from South Africa.

Please can you give me some advise as to how i can do this?
Do i have to make myself a shareholder and my husband stays the director so i get the shares paid in the equivalent of $1500 per month or actually more than that or what must i do? put our savings (equivalent to 2 years of income) in a irrevocable trust and get paid from the trust?
How many bank statements do they need? as i will only have the irrevocable trust start paying out once our application has been accepted?

Does the business have to earn a certain amount before i can take shares from it or can i just stipulate that it will pay out a certain amount monthly. and do i need to show bank statements for this?
THe business will always be there, i just dont know how to prove that we will get monthly payments from the business? or as i said keep the business running and then just put our savings equivalent to the 2 years of ARS$30000 per month in the trust ( we can always deposit whatever we have used in a year back at the year of the year to stay ahead).

I hope this makes sense

Please if you can help me with this as this is our only obstacle before we can start the process.
Hi we are also from SA. We do online teaching, but they won't accept the income. As soon as they see "work" or "business" they want to issue a work visa etc.... We are trying the investment with fixed payments
Hi There,

i know i have asked a similar question on the forum just need a bit more info regarding this, on a previous thread Steve talked about a irrevocable trust and this seems to be the best way for us to prove our income on a monthly basis.....

Regarding the rentista visa, we have a business and have now registered it as a PTY Ltd similar to the LLC. What i want to know is how can i show proof of funds with this business as part of the rentista visa application process?
When we immigrate it will keep running here from South Africa, we wont be working on it ourselves. Note that this is a Online business mostly as it is where people go and make their own websites and it is international but it is run from South Africa.

Please can you give me some advise as to how i can do this?
Do i have to make myself a shareholder and my husband stays the director so i get the shares paid in the equivalent of $1500 per month or actually more than that or what must i do? put our savings (equivalent to 2 years of income) in a irrevocable trust and get paid from the trust?
How many bank statements do they need? as i will only have the irrevocable trust start paying out once our application has been accepted?

Does the business have to earn a certain amount before i can take shares from it or can i just stipulate that it will pay out a certain amount monthly. and do i need to show bank statements for this?
THe business will always be there, i just dont know how to prove that we will get monthly payments from the business? or as i said keep the business running and then just put our savings equivalent to the 2 years of ARS$30000 per month in the trust ( we can always deposit whatever we have used in a year back at the year of the year to stay ahead).

I hope this makes sense

Please if you can help me with this as this is our only obstacle before we can start the process.
Hi. We are also from SA. We are trying the steady income route from investment funds. The officers in San Rafael said they only accept rental income from a property you own... We are in the process of talking to Mendoza and Buenos Aires. Will let you know how it goes.... San Rafael us great. My children walks to the park all by themselves, even at night!
 

StephOlive

Registered
Hi we are also from SA. We do online teaching, but they won't accept the income. As soon as they see "work" or "business" they want to issue a work visa etc.... We are trying the investment with fixed payments

Hi. We are also from SA. We are trying the steady income route from investment funds. The officers in San Rafael said they only accept rental income from a property you own... We are in the process of talking to Mendoza and Buenos Aires. Will let you know how it goes.... San Rafael us great. My children walks to the park all by themselves, even at night!
Yes and thats exactly the place we had in mind as well. Please let me know what they say, we have now decided on a irrevocable trust to put all our savings in and then instruct to get the fixed monthly payment from that. Am i right in saying it is AR$30 000? Thats like R7800 per month....
 

StephOlive

Registered
Are you doing the process from there obviously? how long have you been there now and how old are your kids if i may ask.
Hi we are also from SA. We do online teaching, but they won't accept the income. As soon as they see "work" or "business" they want to issue a work visa etc.... We are trying the investment with fixed payments

Hi. We are also from SA. We are trying the steady income route from investment funds. The officers in San Rafael said they only accept rental income from a property you own... We are in the process of talking to Mendoza and Buenos Aires. Will let you know how it goes.... San Rafael us great. My children walks to the park all by themselves, even at night!
 

steveinbsas

Registered
Yes and thats exactly the place we had in mind as well. Please let me know what they say, we have now decided on a irrevocable trust to put all our savings in and then instruct to get the fixed monthly payment from that. Am i right in saying it is AR$30 000? Thats like R7800 per month....
The current monthly income requirement is $30.000 pesos, but an increase is long overdue. When it was raised to that level it was the equivalent of about $2,000 USD per month. The previous level was $8.000 and when that went into effect in 2010 (?) it was the equivalent of about $2,000 USD per month. Both times, before the increases, the previous levels had "fallen" to the equivalent of less than $1,000 USD.

As I previously wrote, if you get the temporary residency rentista at the current level you should be locked into that amount for one year, based on the date of your precaria, not the date on your DNI (if it is later). You have used the figure $1,500 USD several times. That appears to be your target monthly expense level, but it may not be enough to meet the next income level required for temporary residency based on passive foreign income.
 

StephOlive

Registered
The current monthly income requirement is $30.000 pesos, but an increase is long overdue. When it was raised to that level it was the equivalent of about $2,000 USD per month. The previous level was $8.000 and when that went into effect in 2010 (?) it was the equivalent of about $2,000 USD per month. Both times, before the increases, the previous levels had "fallen" to the equivalent of less than $1,000 USD.

As I previously wrote, if you get the temporary residency rentista at the current level you should be locked into that amount for one year, based on the date of your precaria, not the date on your DNI (if it is later). You have used the figure $1,500 USD several times. That appears to be your target monthly expense level, but it may not be enough to meet the next income level required for temporary residency based on passive foreign income.
Thank you Steve, just want to clarify something is the ARS$ 30000 per person? for instance myself , my husband and my 2 year old each?
 
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