It is easier. On a tourist visa, you can open a bank account, buy a car, or a home. In fact, do pretty much what you want, except get a job; for that, residency is needed..
And isn't Uruguay more difficult to immigrate/retire to than Argentina?
Hi all, I’m an Argentinian-Canadian considering retiring in Argentina. I haven’t been in Argentina since I was 12 except for a few visits no more than 2 weeks long over the decades.
When I check houses or apartments, the prices seem too high for a Latin American country and most of them are in USD. I wouldn’t buy unless is a safe and quiet neighbourhood.
My question is: are those prices real or exaggerated and people settle for less? And how do you transfer the money if there are restrictions on foreign currency?
Is it better to pay in full or apply for a mortgage and invest the money? And what about buying on paper ( when building is still in plans)?
We are looking into five to six years from now, plan ahead, visit and rent to choose the barrio well, and either BA o a smaller city such as Mar del Plata
Any ideas are welcome
Hello! Prices are usually what yoau can see, sometimes you can negotiate a little bit less, but not that much. Mortgages is not an option they practically don't exist here, there are opportunities from time to time, but right now, there is nothing, on the other hand because of the high inflation, it is not a good idea to take a mortgage if the interest rate is not fixed, and currently that option does not exist at all. It is usually a good idea to buy when building is still in plans. In terms of neighbourhoods you should take your time to choose one that you like and it is safe. There are aereas out of the city, about 30-40 km away, with more green spaces and private condominiums, they are usually safe and nice. The economic situation in the country is very unstable. For investments, maybe Uruguay is a better choice.You might also consider retiring in Uruguay?
- free access to USD, in Argentina you can only convert pesos to USD at the black market for the moment (at twice the official rate).
- no yearly wealth tax of 2,25% only a tax of 12% on dividends if you have not paid this tax abroad yet, otherwise you are exempt from the tax and this tax only applies if you have been a resident for more than 5 years. Uruguay is considering lowering this tax to 7% and increasing the time period before paying this tax to 10 years: https://www.lanacion.com.ar/economia/lacalle-pou-pide-al-parlamento-uruguayo-mas-nid2381942
For the reasons above, I am out of this country when the quarantine ends. (I will keep paying visits, but no way I want to settle in Argentina.)
Buenos Aires is just across the river, you can take a ferry several times a day in case you want to travel in Argentina.
And it helps the seller because their gain on the property is perceived as less than reality. (Cash in the pocket!)When you go to sell the property you will be on the hook for more taxes as your cost basis is viewed as less.
Since one pays usd, how is the peso price determined. Which rate is accepted?? For example, what will be the “honest” peso rate in the sale deed today?And it helps the seller because their gain on the property is perceived as less than reality. (Cash in the pocket!)
If you can't do an honest transaction, don't would be my advice.