Selling land in Argentina

[barkatthesun]

Hi
Just looking for some advice on this as I keep getting conflicting information from my Argie family and friends.
We have a piece of land in Patagonia that we are looking to sell. We would want to advertise it abroad -i.e. here in the UK- but I'm told foreigners can't legally buy land in Argentina. I've also been told that law only applies to property in the areas that border neighbouring countries.
Just wondering if anyone has any experience on the matter?

 

[steveinbsas]

I did a google search with the words "restrictions on foreigners buying land in patagonia" and found this:

http://www.nuwireinvestor.com/articles/argentina-real-estate-still-holding-up-54020.aspx

Buying property in Argentina

While foreigners are allowed to buy in Argentina, there are some restrictions regarding owning land in border areas. "Foreigners are allowed to buy property," said Jamie Schectman owner of Bariloche Vacation Rental (www.barilochevacationrental.com). They have the same rights as Argentineans in most parts. That said, there are some restrictions buying in areas that fall under the Zona Seguridad - "roughly within a 100 kilometer of the Chilean border," according to Living in Patagonia (http://www.livinginpatagonia.com), a blog chronicling the lives of an American couple, Jamie and Shanie Schectman.

However, recent changes to the laws governing such purchases have made it easier to acquire property in that part of Argentina. Non-Argentineans can now buy real estate without much ado as long as the property under consideration is located in an urban or suburban area, is less than 5,000 square meters, and isn't bought for commercial purposes.

 

[barkatthesun]

Thanks Steve. That's the sort of info I was looking for... However, I guess we're doomed. It is only 40 km from the Chilean border and 1ha in size :-(

 

[soulskier]

Thanks Steve. That's the sort of info I was looking for... However, I guess we're doomed. It is only 40 km from the Chilean border and 1ha in size :-(

You can still sell the property, it just requires that the new owner, if they are a foreigner, to go through an additional process of getting approval.

Here is an article my wife wrote that is applicable.

And the update with the new law, though in your case, it doesn't really apply.

Feel free to PM if you have other questions. Suerte!

 

[schef4711]

some additional info : the rule that a foreigner doesn't have a property near the border is often only for foreigner on other side of the border. So In Patagonia it is for citizen of Chile. Like in north of Argentina it is for citizen of Paraguay and in Paraguay it is the same on their border within 50km area and not allowed like for Argentinian and Brazilian citizen.

 

[mini]

I'm not sure why you are "doomed". What is the reason you can't sell to Argentines?

 

[schef4711]

I'm not sure why you are "doomed". What is the reason you can't sell to Argentines?

read --> "but I'm told foreigners can't legally buy land in Argentina"

 

[steveinbsas]

I'm not sure why you are "doomed". What is the reason you can't sell to Argentines?

Perhaps it's because the Argentines won't pay as much as double the value (as opposed to foreigners).

And, clearly, foreigners can buy land in Argentina.

 

[mini]

read --> "but I'm told foreigners can't legally buy land in Argentina"

Yeah. I read that thanks. Is it obligatory that he sell to foreigners?

Perhaps it's because the Argentines won't pay as much as double the value (as opposed to foreigners).

It was a rhetorical question really. Sadly, that's pretty much what I figured the answer would be.

 

[Fabe]

Here is some advice.
Ihad a situation here with squatters.
READ THE LAW. READ THE LAW YOURSELF.
If you hire a lawyer , make sure you pin him down to a contract and a milestone of some sort in reference to what is going to happen , when , timeframe , and strategy.
Argie lawyes are NOTORIOUS for separating you from your monies for an extended period of time , then resigning your case and leaving you high and dry.
MAKE sure you stick to a LEGAL procedure , run fast and far when some lawyer suggests a connection , that makes you a mark , andthere is always a high price to pay for participating in corruption.
Good Luck