Questions about buying an apartment as a foreigner with CDI, and about acquiring residence permit

[Eszter]

Hi everyone! I would like to find out if any of you have recommendations for legal professionals who can guide me through the process of buying an apartment in Buenos Aires, and also starting the process of getting a residence permit. I speak Spanish, but I would need help understanding the legal terminology, so preferably it would be someone speaking English as well. I got my CDI, and I'm already in conversation with a financial expert (whom I contacted based on a recommendation in a previous thread here) to help me figure out how to bring in the funds necessary to buy the apartment. I would like to find out whether I need to already have a temporary residence permit in order to buy the apartment, and if so, what are the steps. I would also be super grateful if any of you who have gone through all this would share their experience (here or in a phone conversation), and especially if you had a local professional help you navigate through these processes. Thank you so much, have a wonderful day!

 

[Alby]

Compartmentalize the steps.

1) Review the website of the migration agency (DNM) to see if there is any category you fit into: https://www.argentina.gob.ar/interior/migraciones/residencias
There may not be. If there isn't, remove this element from your project. If there is, be aware that if you become a migration resident you will soon become a tax resident and open yourself up to a range of administrative complications and new taxes. Review the many threads on this website about tax and then decide whether you still want to proceed with the residency part of your project. If not, eliminate it from your project; you can still buy a property here and use it each year without ever becoming a migration and later tax resident.

2) Register with the tax authority (AFIP) to obtain your tax ID (CUIT). You can do so as a foreigner and need to do so to buy a property. This is because you must, even as a non-tax resident foreigner, pay an annual tax on the property known as the bienes personales tax. Registering is a simple process that you can undertake without professional assistance if you speak Spanish by presenting with your passport and CDI at most AFIP shopfronts.

3) Identify the property you want to buy. You may discover that the owner has an account overseas, in which case you have no need to bring money into the country and you can eliminate that element of the project too. (There are several threads--one recent and still active--about bringing money into the country to buy property, so start reading them in case this part of your project remains).

You will need different professionals with different sets of skills for each of the steps (residency, tax advice, real estate/conveyancing (escribanía)). So first compartmentalize the steps and decide if you should, can, or must eliminate any.

 

[steveinbsas]

Register with the tax authority (AFIP) to obtain your tax ID (CUIT). You can do so as a foreigner and need to do so to buy a property.

As far as I know (and unless things have changed since 2021), a non-resident foreigner cannot get a CUIT. and it is not necessary to have a CUIT or a DNI to buy a property in Argentina...just the CDI and the passport.

This is because you must, even as a non-tax resident foreigner, pay an annual tax on the property known as the bienes personales tax. Registering is a simple process that you can undertake without professional assistance if you speak Spanish by presenting with your passport and CDI at most AFIP shopfronts.

Unless somthing has changed, a non resident property owner has to find someone with a DNI and the CUIT to pay the bienes personales taxes for them. The tax is assessed to the property, not the individual, and whoever pays, has to have a CULIL/CUIT even if they are not the owner.

Tthe question of a non-resident getting a CUIL was discussed in November of 2021.

After Ries asserted that a nonresident could get a CUIT at an AFIP agency, Lunar shot that myth out of orbit.

If that has changed since late 2021, it would be good to know for certain.

.I got my CDI,..

I would like to find out whether I need to already have a temporary residence permit in order to buy the apartment,.

Based on the fact that you have a CDI, the answer is no

 

[Alby]

As far as I know (and unless things have changed since 2021), a non-resident foreigner cannot get a CUIT. and it is not necessary to have a CUIT or a DNI to buy a property in Argentina...just the CDI and the passport.

After Ries asserted that a nonresident could get a CUIT at an AFIP agency, Lunar shot that myth out of orbit.

If that has changed since late 2021, it would be good to know for certain.

I got my CUIT at an AFIP agency as a non-resident in 2015. But perhaps it is different now.

 

[Bajo_cero2]

Just fill the CDI as non resident and you need a local co signs it for notification purposes.

 

[Eszter]

3) Identify the property you want to buy. You may discover that the owner has an account overseas, in which case you have no need to bring money into the country and you can eliminate that element of the project too. (There are several threads--one recent and still active--about bringing money into the country to buy property, so start reading them in case this part of your project remains).

Thank you so much for all your recommendations! I have already found the property I would like to buy, but unfortunately the owner doesn't have an account overseas. So I will have to find a way to bring money into the country. I have read some threads on this (probably there are still more I should go through). I have contacted someone who came recommended on one of those threads - Franco Tealdi, who works with Inviu, through Banco Galicia. Honestly, working with a broker account scares me a little bit, and I wonder whether opening a bank account in Uruguay wouldn't be safer - even though it would come with its own challenges of running back and forth many times. If any one of you has thoughts/ recommendations on this subject, I'd be very grateful!

 

[Bajo_cero2]

What about Banco Piano?

 

[KristenS]

Hello! I just recently went through this process (closed on my apartment on Friday of last week) but the owners had an overseas account. I did find it really helpful hiring an Escribano to help put me in contact with people I needed - an accountant, a fianciera to help with money transactions, etc. You will need one to legitimize the transaction (as far as I know) so maybe reaching out to one now could help the process. I am happy to talk about my process in all of this if you want.

 

[Eszter]

What about Banco Piano?

Yes, I am going to go speak to them on Monday when they open. I have no idea how they work, but I would like to find out!

 

[Eszter]

Hello! I just recently went through this process (closed on my apartment on Friday of last week) but the owners had an overseas account. I did find it really helpful hiring an Escribano to help put me in contact with people I needed - an accountant, a fianciera to help with money transactions, etc. You will need one to legitimize the transaction (as far as I know) so maybe reaching out to one now could help the process. I am happy to talk about my process in all of this if you want.

Thank you so much! I would really appreciate a chance to talk to you about your process. I'll send you a private message.Thank you again!