Rentista passive income through irrevocable trust?

[Lienohi]

Trucho said it would sail through. Other people have had different experiences. My near three-year odyssey (admittedly complicated by the pandemic) with a real estate-based, lawyer-supported and perfectly documented Rentista application has been reported several times on this board.

Could you give me an indication on whether or not it seemed like they looked into the real estate you mentioned to determine if the rental market rate matched the $ amount you were renting it for, am I expecting them to be too competent in this regard?

Is it true that the real emphasis is on you actually holding title to a piece of real estate in your name +bank statements and lease agreement showing someone is renting this real estate at a sufficient $ amount to satisfy passive income requirement.

One more question, if you can share—ultimately what it ended up costing you with regards to lawyer fees for the rentista? Was this a top well connected lawyer in BA?

 

[Alby]

They are just box tickers. They are not resourced or smart enough or interested in doing the kind of checking you are imagining. That's why they don't even worry about the likelihood that the income is taxed and, therefore, not necessarily even available to you.

Whatever low level of competence you imagine for them, lower that by about another 100%, and you might be getting close. That is why you must get a lawyer to manage all this for you. As you are indeed doing. They don't cost too much, especially given the awful chore of dealing with Migraciones staff that they save you from.

Your second sentence is 100% correct, in my experience. You just need to document those three things carefully, and you have enough. But that doesn't mean, as my case showed, that before they work out that those three things are enough, they won't invent other requirements because someone is having a bad day or doesn't understand his or her own rules, or they won't ask you to provide information that the documents you have provided already clearly shows. If you are a control freak and want to get everything in order and 100% correct to prevent delays and disappointments (I was more or less like you at the start), you are going to be disappointed. But with time you adjust your expectations, and eventually, it works out.

 

[Lienohi]

They are just box tickers. They are not resourced or smart enough or interested in doing the kind of checking you are imagining. That's why they don't even worry about the likelihood that the income is taxed and, therefore, not necessarily even available to you.

Whatever low level of competence you imagine for them, lower that by about another 100%, and you might be getting close. That is why you must get a lawyer to manage all this for you. As you are indeed doing. They don't cost too much, especially given the awful chore of dealing with Migraciones staff that they save you from.

Your second sentence is 100% correct, in my experience. You just need to document those three things carefully, and you have enough. But that doesn't mean, as my case showed, that before they work out that those three things are enough, they won't invent other requirements because someone is having a bad day or doesn't understand his or her own rules, or they won't ask you to provide information that the documents you have provided already clearly shows. If you are a control freak and want to get everything in order and 100% correct to prevent delays and disappointments (I was more or less like you at the start), you are going to be disappointed. But with time you adjust your expectations, and eventually, it works out.

Thank you very much for taking the time to explain this. I feel much better and realize much will be out of my control once I submit the documents but at least with a top tier immigration law firm handling this, I’ll at least put myself in the best position for things to move through successfully and with a bit of luck quickly.

If anyone out there has a top tier BA immigration law firm to recommend, I’d be most grateful. Willing to pay a premium for the most competent/connected lawyer possible.

 

[Ceviche]

Thank you very much for taking the time to explain this. I feel much better and realize much will be out of my control once I submit the documents but at least with a top tier immigration law firm handling this, I’ll at least put myself in the best position for things to move through successfully and with a bit of luck quickly.

If anyone out there has a top tier BA immigration law firm to recommend, I’d be most grateful. Willing to pay a premium for the most competent/connected lawyer possible.

Celano is most famous one for Rentista visa

 

[Pedro154]

Hi All. Does anyone have experience with getting your completed FBI Background Check document apostilled in a faster way than just mailing it to the State Department (for those who are from the USA)? There are various express services it seems, but it's hard to tell who, if anyone, is legit.

 

[arvest]

Hi All. Does anyone have experience with getting your completed FBI Background Check document apostilled in a faster way than just mailing it to the State Department (for those who are from the USA)? There are various express services it seems, but it's hard to tell who, if anyone, is legit.

Post covid there is no more in person appts, just gotta suck it up

You may consider legalizing the document through an embassy instead, could be faster if the Argentina embassy agrees to legalize the document https://eeeuu.cancilleria.gob.ar/en/legalizations

 

[broc]

Could anyone recommend any specific services that would help with this exact process for the irrevocable trust and the cover letters for purpose of the rentista visa? Although not incredibly complex, this is out of my comfort zone and I would prefer to have someone else write it up for me. I see that Charles Schwab has a trustee fee of $5,000 USD per year but that's too much for me (specially considering the asset value would only be $27,000 USD). I would prefer to keep the fee under $1,000 USD if possible.

To restate what steveinbsas has already said regarding this topic in my own words for my own clarity:
As of March 2025, the minimum wage is 296.832$ARS. The bank rate is 1064, so the US equivalent is $279 USD. 5x the minimum wage in dollars would be $1395 USD. The trust should be funded with $27,000 so that there will be 18 months of distributions of $1,500 USD (in order to comfortably surpass the minimum required amount and account for any taxes and fees).

I understand that I need to have the trust document created, open the trust account, fund the account, have a cover letter written which explains the purpose and exact terms of the trust and should refer to the attached copy of the trust, and have the cover letter signed, notarized, apostilled, translated in Spanish, and legalized in Argentina.

I also understand that I should have a cover letter written for the bank statement which shows deposits and distributions from the trust account and should specifically refer to the attached bank statement, and have the cover letter signed, notarized, apostilled, translated in Spanish, and legalized in Argentina. I also understand that it's better to have at least 1-2 months (if not more) of distributions already shown in the bank statement.

 

[Ries]

Could anyone recommend any specific services that would help with this exact process for the irrevocable trust and the cover letters for purpose of the rentista visa? Although not incredibly complex, this is out of my comfort zone and I would prefer to have someone else write it up for me. I see that Charles Schwab has a trustee fee of $5,000 USD per year but that's too much for me (specially considering the asset value would only be $27,000 USD). I would prefer to keep the fee under $1,000 USD if possible.

To restate what steveinbsas has already said regarding this topic in my own words for my own clarity:
As of March 2025, the minimum wage is 296.832$ARS. The bank rate is 1064, so the US equivalent is $279 USD. 5x the minimum wage in dollars would be $1395 USD. The trust should be funded with $27,000 so that there will be 18 months of distributions of $1,500 USD (in order to comfortably surpass the minimum required amount and account for any taxes and fees).

I understand that I need to have the trust document created, open the trust account, fund the account, have a cover letter written which explains the purpose and exact terms of the trust and should refer to the attached copy of the trust, and have the cover letter signed, notarized, apostilled, translated in Spanish, and legalized in Argentina.

I also understand that I should have a cover letter written for the bank statement which shows deposits and distributions from the trust account and should specifically refer to the attached bank statement, and have the cover letter signed, notarized, apostilled, translated in Spanish, and legalized in Argentina. I also understand that it's better to have at least 1-2 months (if not more) of distributions already shown in the bank statement.

One thing to consider is that migraciones can and does change the rules whenever they feel like it.
We first were required merely to show proof of SS payments, for our pensionista visa.
Then, with zero advance notice, one month they instituted the transfer to argentine bank rule.
Then, they changed it from 30,000 pesos a month to the five times wage.
But often, they would not update the new monthly minimum officially for 2 or 3 months at a time,
Sometimes they spring new rules on you only when you file for your yearly renewal.
All of which is to say, dont cut it too close.
Make sure you have access to enough money, so if you have to make a last minute deposit to meet a minimum they didnt tell you about, in mid december, you can do it.

 

[Paige55]

Could anyone recommend any specific services that would help with this exact process for the irrevocable trust and the cover letters for purpose of the rentista visa? Although not incredibly complex, this is out of my comfort zone and I would prefer to have someone else write it up for me. I see that Charles Schwab has a trustee fee of $5,000 USD per year but that's too much for me (specially considering the asset value would only be $27,000 USD). I would prefer to keep the fee under $1,000 USD if possible.

To restate what steveinbsas has already said regarding this topic in my own words for my own clarity:
As of March 2025, the minimum wage is 296.832$ARS. The bank rate is 1064, so the US equivalent is $279 USD. 5x the minimum wage in dollars would be $1395 USD. The trust should be funded with $27,000 so that there will be 18 months of distributions of $1,500 USD (in order to comfortably surpass the minimum required amount and account for any taxes and fees).

I understand that I need to have the trust document created, open the trust account, fund the account, have a cover letter written which explains the purpose and exact terms of the trust and should refer to the attached copy of the trust, and have the cover letter signed, notarized, apostilled, translated in Spanish, and legalized in Argentina.

I also understand that I should have a cover letter written for the bank statement which shows deposits and distributions from the trust account and should specifically refer to the attached bank statement, and have the cover letter signed, notarized, apostilled, translated in Spanish, and legalized in Argentina. I also understand that it's better to have at least 1-2 months (if not more) of distributions already shown in the bank statement.

I used a credit union to hold the trust funds and an estate lawyer in the U.S. to create the trust paperwork. They notarized in-office and I hauled it to the nearest Secretary of State office for an apostille. It simply states the trust account (name on account, which bank, last 4 digits of account number) and the amount of funds transferred into my personal account each month (my bank, last 4 of account and of course my name as beneficiary). The starting balance of the trust. I paid less than $500 for the original trust set-up/paperwork. Each year the lawyer charges me a couple hundred to rework a cover letter to update the trust amount and state, again, how much money is being transferred to me each month.

I would also advise to put a padding in that account incase they increase the amount again. It's a royal pain trying to maneuver a change that large. I would count on having at least $2,000 to send yourself per month to somewhat anticipate fluctuations in currency values and also try to have a few more months of trust dispersement under your belt before applying so it doesn't appear as if you made the trust solely for this purpose, that's what I was advised. I think I was 8 months into my trust before applying (but, I was also held back by the pandemic).

I wish you the best of luck in the process.

A lawyer mentioned here often has an instagram that lists the monthly transfer requirements each month that I find very helpful. https://www.instagram.com/celanolaw/

 

[steveinbsas]

This is my low cost, no lawyer to pay stratagy to use when applying for the visa rentista:

Create the trust document which details how the funds will be invested and distrbuted. There are sample forms available online for creating an irrevocable trust. I have downloaded one of them, but I will have to afapt it to use for the visa rentista. I need some time to do so before I post my version.

Select a trustee (as well a sucesor trustee) who will open a checking account in the name of the trust, deposit the fundsas desired by the grantor/beneficiary and make the monthly distribtions by "sending" a check to the beneficiary's personal bank account in the amount that meets the requirement set by migraciones.

Fund the "trust account" with (more than) enough money to make the monthly distributions for at least a full year at the present required amount of five salarios mínimos, which is currently slightly over $296,000 pesos x 5 = slightly less than $1,500,000 pesos.

The trustee can write and sign a cover letter with a copy of the trust document attached.
The letter can be notarized and recieve the Apostille. Together, they can be translated and the translation can be legalized in Argentina. The letter can detail the terms of the terms of the trust document and that the beneficiary has no access to the principle.

I suggest starting the monthly deposits at least two months prior to applying for the visa rentista in order to have at least two months bank statements to show to migraciones.

I suggest that the applicant for the visa rentista open a new, personal checking account at a local bank in the USA and use it for this purpose only. A local bank is more likely to have an officer who would be willing to write a cover letter for the bank statements that show the deposits from the trust account and the subsequent wire transfers to their Argentine bank account.

Hopefully, won't be necessary to reveal all of their financial information "chapter and verse" as one member recently indicated that was required when they applied for the visa rentista, and using a personal account for this purpose only will keep the rest of their financial information private.

I would not be surprised if migraciones asks about the source of the funds which have been deposited in the trust account. I think personal savings from previous legal work would be acceptable (if verrifiable). However, if anyone is planning on working remotely (under the table) while they are living in Argentina with a visa rentista, I think it will be wise to plan ahead when it comes time to renew their visa.

As always, other members are welcome to add to or dispute anything I have written in this post. I'm a long time DIY guy as well as an economizer, doing as much as I can on my own, at the lowest cost possible.