Realistic to Move to Argentina and Live Off Investments?

[oddDistribution]

it's more expensive for sure. but it is also economically stable.

I took a quick look at numbeo for Montevideo and it looks a bit pricey to be honest. Economic stability is not very important to me because I will not be working in the country. I think I may focus my efforts on Colombia if I can't live in Argentina.

 

[Cordoba]

Another option is to hide your wealth. I think the US and Argentina so far do not exchange information about people's assets, but most European countries do to some extent. You have to decide for yourself if this is what you want to do.

I believe they signed the agreement last December and are sharing it right now. I don't know the extent of the information shared. I think prior to this they had to request individually but now they automatically share. I wish I had the details or could find them. Do they each give a list of citizens/residents?

 

[Alby]

It's irrelevant. To obtain the Rentista category, you have to disclose chapter and verse your assets. The Argentine government doesn't need to get the information from another government. It just needs to get it from itself.

 

[sts7049]

I took a quick look at numbeo for Montevideo and it looks a bit pricey to be honest. Economic stability is not very important to me because I will not be working in the country. I think I may focus my efforts on Colombia if I can't live in Argentina.

even if your income comes from outside, the economy/inflation in argentina absolutely will still affect you. just not the same way as the locals. if you live in argentina long enough, trust me, it will be a constant to deal with.

 

[on the brink]

Uruguay is more expensive than Argentina - always has been. Right now, everything costs about 50% more: groceries, gas, utilities, household help - whatever.

 

[HectorH]

The wealth tax is major reason for me to have left Argentina this year.

The advice of the lawyer I visited was: try to avoid triggering becoming an Argentine resident. To be safe with migraciones, you could not stay more than 180 days per year in Argentina. The Argentine taxes have another criterium, for them you need to have spent less than 90 days per year out of Argentina, this is less strict. (Once you are a resident it is harder to get rid of this status). The biggest issue is migraciones, if you overstay without being a resident, you risk being denied entry to Argentina after you go abroad.

Another option is to hide your wealth. I think the US and Argentina so far do not exchange information about people's assets, but most European countries do to some extent. You have to decide for yourself if this is what you want to do.

Another option tax-wise is Uruguay. Uruguay only taxes what you earn inside Uruguay and does not care about your assets abroad. It is not the same country though, but it is close to Argentina, so Argentina is easy to visit.

The wealth tax is presently at $700,000.
Who are you guys leaving a country where you live amazing on $12,000 a year over a tax on $700,000 in wealth?

 

[HenryNisental]

In my modest opinion, it will be an excellent move, becausse:
A) You income will be in USD, an the crazy local inflation will only benefit you.
B) It is easy to get a resident visa with your income
C) You can get funds without bringing any cash, there are places and people who will will give you USD in cash (with a 5 % discount)
by making a bank to bank transfer within the USA. NO Arg banking system involved.
D) Or you can get USD from ATM in neighboring Uruguay (900 USD a day).
E) It is possible that things will change and improve after the next election in Nov 2023.

 

[ashton]

I took a quick look at numbeo for Montevideo and it looks a bit pricey to be honest. Economic stability is not very important to me because I will not be working in the country. I think I may focus my efforts on Colombia if I can't live in Argentina.

Just to save you time — you'll be a tax resident in Colombia (to include Global income and assets) if you spend over 183 days/year in the country.

If tax consequences are what concerns you, you'll need to focus efforts on countries that don't tax worldwide income once you're a tax resident. In Latam, this would be Uruguay, Paraguay, and most of the central american countries.

 

[JonJLA]

You don’t need to get a resident visa. Argentina is still very easy to stay without a visa by border runs and extending tourist visa. Most of my foreign friends have lived in BA with no problems.

Better not to even get on the radar of their tax authority AFIP

 

[earlyretirement]

Many people are in the same situation as the OP. Where they might have passive income like rentals or investment income, etc. I don't know why in the world you would want to get on the radar of AFIP (Argentina IRS). You can live in Argentina as a sort of "perma-tourist" for years.

Even if you lived in Argentina, I doubt you'd want to stay in only Argentina. There are a lot of great places to visit like Uruguay and especially Brazil. As well as trips back to the USA.

I don't see any upside at all for wanting to get permanent residency in Argentina. I'd recommend just going down there first and seeing how you like it first and then you can see.

I actually DID go through the time and trouble when I moved to Argentina many years ago to getting my DNI and I have permanent residency but I honestly don't feel like there is too many benefits vs. hassles.