Rentista visa question.

[EL_TIGRE_de_Tigre]

I believe this visa is for a person of INDEPENDENT MEANS??? Meaning they have money enough to fund their life in the country without working in Argentina.

They may be participating in the retirement system of another country, or have an annuity, or something similar that pays them monthly above and beyond Argentina's minimum monthly income requirement for said visa status. What would this monthly number be currently?

Also, does a person meet the requirements of a rentista visa if they are not participating in any type of retirement program, but they have mid to upper 6 figures in an external (out of the country) USD bank account?

And if they do,

 

[steveinbsas]

I believe this visa is for a person of INDEPENDENT MEANS??? Meaning they have money enough to fund their life in the country without working in Argentina.

Exactly.

They may be participating in the retirement system of another country, or have an annuity, or something similar that pays them monthly above and beyond Argentina's minimum monthly income requirement for said visa status.
What would this monthly number be currently?

If a foreigner is participating in the retirement system of anther country they would apply for the visa pensionado. To my knowledge, there has never been an exact number specified for the visa pensionado. Migraciones seems to be flexible on this one (or at least they have been in the past).

I'm not sure if any "monthly number" for the visa rentista currently appears on the migraciones website, but the last time I saw a specific amount on the site, it was $30.000,00 ARS per month.

That figure is long overdue for an increase. The last time it increased from $8.000 ARS per month to $30.000 ARS and, at the time the exchange rate was fifteen to one, so that amount was equivalent to about $2,000 USD per month.

Also, does a person meet the requirements of a rentista visa if they are not participating in any type of retirement program, but they have mid to upper 6 figures in an external (out of the country) USD bank account?

Based on what I know, just having $100,000 USD or more deposited in a bank account won't satisfy the stable monthly income requirement, but an annuity which "pays them monthly above and beyond Argentina's minimum monthly income requirement for said visa status" should.

PS: The next monthly amount is likely to be three to four times what it is now, and new amount will apply to future renewals of existing visas.

 

[EL_TIGRE_de_Tigre]

Steven,

Thanks for your excellent reply, I really appreciate your feedback.

Let me ask you this, if I may?

If a person has a bank account with $500K USD to $750K USD - Does it change anything from Argentina's point of view?

Furthermore, could a written instruction (To the institution holding the funds.) directing them to make an adequate monthly sum deposit (Based upon The Argentine Government's requirement.) to the rentista's Argentine bank account suffice from the Argentine point of view? In this way, they would know that the rentista would be able to fund and not become a burden to the system or attempt to work outside of the law.

I am guessing a good Buenos Aires based immigration attorney would know the answer to this???

Thanks!

 

[steveinbsas]

If a person has a bank account with $500K USD to $750K USD - Does it change anything from Argentina's point of view?

I don't think having a six figure balance in your bank account will meet the requirement. You could withdraw all of the funds at any time.

I believe they will still want to see a stable monthly flow of income that will continue while the visa is valid (ne year at a time).

Furthermore, could a written instruction (To the institution holding the funds.) directing them to make an adequate monthly sum deposit (Based upon The Argentine Government's requirement.) to the rentista's Argentine bank account suffice from the Argentine point of view? In this way, they would know that the rentista would be able to fund and not become a burden to the system or attempt to work outside of the law.

If the funds are locked in an irrevocable(?) trust and the trustee (doesn't necessarily have to be someone who works at the institution holding the funds) has a legal obligation to make monthly distributions that meet the required monthly amount, I think that would suffice.

I am guessing a good Buenos Aires based immigration attorney would know the answer to this???

That's a good guess.

I suggest you contact Cassiopeia.

Meanwhile, I suggest you enter the words "visa rentista" in the search box and check "search titles only" and leave the "by" space blank.

Then click on the word "search" and start reading.

 

[EL_TIGRE_de_Tigre]

Thank you very much for your time. I appreciate it very much Steven.

I will reach out to Cassiopeia in the next few days.

Best wishes, hope to hear from you again sometime,

T