Requirements for Rentista Visa

[mageesa]

So it looks like theyŕe going to raise minimum wage to $22.268 (a week?), which divided by 800 pesos per dollar, times 5 weeks a month is about $140USD. Before I couldnt apply for Rentista because you need 5x minimum salary, and it was calculated using official rate, which at the time was almost $2000USD. It seems now you would only need $700USD a month.

Am I incorrect in thinking they just made it a lot easier to have enough passive income to apply? Or am I thinking of this wrong? Any news on updates for Rentista?

 

[Alby]

In theory, the problem appears to be solved. At least for now.

Where does your number of 22.268 come from? Google the monthly sueldo mínimo and the number for December comes up as 156,000 pesos (the mechanism under the new government to update it each month for inflation doesn't appear to have been determined yet). Multiply that by 5 (780,000) and divide by 800 and the magic number (for December) is US$975. Not bad.

However, as long as the government only devalues as per the rolling peg, the second number (800) won't change much, whereas the first number (156,000) will (presumably) go up and up. Maybe not as fast as inflation, but maybe not too far behind. And if the country moves quickly to sustained hyperinflation and the sueldo minimo follows to some extent, the picture for rentistas (and pensionistas) may not be so pretty for very long.

 

[mageesa]

In theory, the problem appears to be solved. At least for now.

Where does your number of 22.268 come from? Google the monthly sueldo mínimo and the number for December comes up as 156,000 pesos (the mechanism under the new government to update it each month for inflation doesn't appear to have been determined yet). Multiply that by 5 (780,000) and divide by 800 and the magic number (for December) is US$975. Not bad.

However, as long as the government only devalues as per the rolling peg, the second number (800) won't change much, whereas the first number (156,000) will (presumably) go up and up. Maybe not as fast as inflation, but maybe not too far behind. And if the country moves quickly to sustained hyperinflation and the sueldo minimo follows to some extent, the picture for rentistas (and pensionistas) may not be so pretty for very long.

Oh, I am a fool. I googled it and got the news from Uruguay as a top answer! Bad Google. Either way, its going to be significantly less than when the official rate was artificially low, which is why I was looking. And your math proves it, using the correct (for now) figures! Thanks.