Rentista Visa And Tax Issues

[gracielle]

Not quite - you also have to live in Argentina more than 6 months of the year.

Correct. Thank you for your clarification.

 

[An_albumparty]

Thanks again for all the help.

I've just had a look online and it seems that in addition to the wealth tax, income from the sale of foreign stocks is also taxed at 35% (see: http://www.cronista....50409-0063.html). However another source says this isn't taxed (http://www.cartafina...-paga-ganancias). Yet another source says something different (http://www.marval.com/publicacion/postura-de-la-afip-respecto-de-la-disposicion-de-acciones-12761/)

Anyone have personal experience/knowledge of this?

I realise that for more complex questions on taxes (esp. on foreign sources) I should probably get an accountant. Anyone know what the approximate charge per hour would be?

 

[An_albumparty]

Also another question regarding the certificado de domicilio: I remember I got mine from a police station when I was last there. Is this still the case and could this be used as the address proof when opening a bank account?

As neither of us will be working (for the foreseeable future anyway) we won't have payslips or anything. On the websites of most banks they say that for a cuenta de ahorros you need to show them a payslip or equivalent, anyone know whether you can substitute this putting a sum of money in the account (just wanted to see if I could take advantage of the ridiculously high plazo fijo rates)?

Sorry for all the questions!

 

[GMXam]

I wasn't able to use a certificado de domicilio as proof for setting up my account, and I had a staff member of my residency lawyer's office with me to help smooth the process. That may be specific to my bank, but you may need to navigate that process when you arrive to get those firm answers. You may find it also depends on the person assisting you at that bank and their willingness to go that extra step to help you.

I had filed under a rentista visa and provided the bank a copy of my letter from my financial institution identifying my monthly distributions that would then be transferred to this newly established account for my monthly living expenses (this serving as the "or equivalent" part of the bank's requirement for proof of income).

There are options for what you are looking for, and like I said, you may get more feedback from a direct communication to a residency lawyer like my recommendation above. My experience was that it was completely worth every penny to work with him on my residency. So much so that I've recommended him to everyone I know, and everyone who has taken me up on that recommendation has said nothing but excellent things about their experience. If you have concerns about cost, try it on your own. If you later find you need assistance, he's a great option.

Regarding skirting fees, I have no advice for you on that one.

Best of luck.

 

[An_albumparty]

Thanks. We'll definitely take your advice into consideration. Do you mind me asking how much his fees were to help you get your rentista visa sorted out?

 

[GMXam]

Sent you a PM. You can get the updated fees directly from him since my process occurred three years ago.

 

[gracielle]

matt_uk
I don't have the name of an accountant to give you as a referral. AFIP regulations are very complex and can be subject to interpretation on a case by case basis. I concur with GMXam's suggestion that you seek the assistance of a qualified accountant with experience in dealing with international clients.

The accountant may also be able to advice you on the current local banking practices, as applied to foreigners who want to open a savings and/or checking account in CABA.

 

[Stevied]

Having just gone through this process (opening a bank account), as well as purchasing an apartment last year, I can give you my experience. My wife is an Argentinian citizen, and we live in NYC. Last year, we bought an apartment in both of our names. It was a rather difficult process to do remotely, and it only worked because we have family in BA. This year, I worked on getting my DNI and opening a bank account, also a difficult process. Here are some of my observations that may help you.

1. To move any substantial sums of money into Argentina, you need: (a) a CUIT from AFIP, which you can get without a DNI, but you do need the Domicilio; (b) proof of provenance of the funds (I used US tax returns and a statement from my accountant, both of which had to be translated, but they didnt require an Apostille - others have reported needing an Apostille); and ( c) a local bank account which allows international wire transfers (I used Banco Piano, which charged a rather high transfer fee, and used a NY bank as an intermediary - but I think things are easier now). While the local bank account will require a DNI, I was able to get around that by having my sister in law open the account, and then I provided her a power of attorney.

2. I tried, unsuccessfully, to get my CUIT in person during a 3 week visit in 2015 - by the time I got my Domicilio, I ran out of time to get the CUIT. You need a local address for the Domicillio; apply in person to the police station closest to the address; they will process it in about a week, and deliver it to the local address - you don't have to be there in person to receive it, but somebody has to be present with your passport in order to get the Domicilio.

3. I later found out that its much easier to use an attorney to get the CUIT from AFIP -and they can do this remotely if you have the Domicilio.

4. You absolutely need a DNI to open a local account. I checked with numerous banks, this seemed to be a firm requirement.

5. I was told that I needed to show pay stubs showing funds in order to open the account. They would take a foreign pay stub, but this bank (Santander) wanted it Apostilled and translated - in the end, we were able to use my wife's pay receipts as she is an employee of the Argentinian government.

6. Since my wife is Argentinian, my process to get a DNI wasn't too hard - it took about 2-3 months for me to get all of the docs, translated, Apostilled, etc. here in the US, then certified at the Argentine Consul in NYC. They pasted a visa in my passport indicating I was a permanent resident. I then had to enter Argentina with that visa, make an appoint at Migraciones for the DNI - I brought all of my paperwork to the appointment, they took a photo, fingerprints, and gave me a receipt with a tracking number (not the DNI). It took about 9 days, but I received the DNI at my local address (the one you use for your Domicilio). Note - you have to be physically present to receive your DNI, and have to have your receipt from Migraciones as well.

7. I admire people that are living permanently in Argentina without a DNI - I have found that, even for me as a sporadic visitor, doing many things in association with my apartment was very difficult without a DNI - it is used as a universal ID in Argentina, and I can't imagine living for any length of time without it. That said, I know many people do this.

Hope this helps a little.

S

 

[An_albumparty]

Thanks for the helpful and detailed advice Stevied. I was just wondering whether there is a difference between the CDI (https://www.argentina.gob.ar/obtencion-de-clave-de-identificacion-cdi) and the CUIT as it seems that only 'trabajadores autonomos' can get the latter?

 

[Stevied]

Yes, I typed CUIT but meant CDI. Sorry for the confusion.