Residency Visas

[PK]

What are the pros and cons to getting residency visas in Argentina? We plan on living in country 6 months a year. We are US citizens. How costly/difficult is the residency process? If you are a resident do you know how income earned outside the country are handled as it relates to taxes? Is it better to go for residency vs doing the 3 months in country and run across the border routine?

Thanks for your help!

Paul

 

[VMSmith]

If you are not buying real estate or shipping furniture down or in need of a DNI, the case for residency is not really that strong.If you are planning to own real estate, being a resident will apparently make the sale process quicker and easier when and if you sell.If you are shipping furniture, it will eliminate a whopping surcharge or tax or whatever on the value of your shipment.A DNI is handy for a lot of things, but not critical. You cannot get one, though, unless you are on a residency track.If you do have residency, you are theoretically subject to some income taxes, although at this point I don't know exactly how that works. I've heard various stories about it, but nothing definitive yet. I know a lot of people who are living here for the long run without residency. At this point, the only apparent hassle they have is the quarterly visa renewal process. They've all managed to get utilities in their names, bank accounts, medical plans, and other things that living here requires. So if you don't fit into one of those three situations I mentioned, there is no apparent necessity to do it, and a potential downside regarding income taxes.

 

[PK]

Thanks for your input! We have bought property already so we may look into residency and will try to figure out the tax ramifications. I appreciate your information.

 

[KatieF]

PK - Just curious as to who you went through to buy property (or did you go it on your own)? We are moving to BA January 3rd and are interested in purchasing something in the city but are still looking into the process.

 

[PK]

Katie we bought property in Mendoza in Valle de Ucco a grape growing area. Went through a company there. We get on here as its been helpful learning about the country. Not everything posted is accurate but its been more right than wrong.

 

[VMSmith]

Thanks for your input! We have bought property already...

If you own property and want to sell it, apparently the AFIP will be much more stringent in examining your taxes and such if you are a non-resident. I have two friends who are selling properties as non-residents, and it's taking them quite a while -- like several months -- just to get AFIP's approval. That's the sort of thing that can change in a heartbeat, though. I have also heard that non-residents pay some sort of tax when they sell that residents do not have to pay. This is strictly anecdotal, and I have heard just as often that that's not true. Just something you might want to investigate further.

 

[PK]

Thanks VN. We probably will seek out some type of residency as we plan on spending a good part of time each year in country. Thanks for your help.

 

[KatieF]

Steve/PK - Thanks for the information. I've been doing a lot of online research and everything seems to be saying that it is still a good time to get in the housing market down there. We are just starting out and want to make good investments, but also don't mind taking a risk. Just from your points of view - good choice?

 

[KatieF]

Steve - Thank you for your positive and informative posts! I was getting a bit discouraged from some of the messages I had been reading. We will be arriving in BA in January and are planning on keeping an open mind to whatever may come our way. Thanks again - very helpful! Katie

 

[PK]

Good point Steve. I am amused by people who go to another country and expect totally different experiences and then are upset if things are not just like home. If someone from Argentina moved to the states and copped an attitude he would be treated poorly. And vice versa I am sure. How long does the visa process take??