The property was sold suddenly and my wife recieved a plastic bag of pesos! Classic Argentina. The ex husband didnt consult with my wife how he would handle things. The money is in a safe place for now but its in pesos....
Do you think it will it be possible to deposit the money from the sale of the property into my regular dollar savings account with the bank converting the pesos to dollars? The money is officially my wife's - as a donation from her ex husband. She doesnt have an account as she doesnt have work en blanco. She got a 'declaracion de venta' of the sale from the escribano but its not the official comprobante de venta as that takes time to process. Presuming I can use my account to deposit the money would the bank accept simply the declaracion or would we have to wait until we get the comprobante?
It makes sense now as I guess you had no control whatsoever on the property sale and conditions. If you guys have the donation papers, ie her ex donates this money to her, that should suffice, but the money has to go into her bank account. The donation is a contract written and certified by an escribano. if this is what you have she should have no problems opening a bank account in pesos and dollars. Deposit pesos and buy dollars via homebanking. She can then wire the money abroad to your bank account abroad. It would be best if she can get the official proof of sale papers. But in the meantime she can keep the usd deposited into her bank account and in usd. If money goes into your account, you could have problems proving the source of funds. I do not recommend doing this.
Buying usd and keeping them in a safe deposit box at a bank: you need to know that this money in cash is taxed and must be declared as Bienes Personales. As I told you before, the money should go into a bank account under your wife's name: get her to open an account in pesos and usd, whether she has a job or not, the bank is obligated to open an account for her. If your idea is to wire the money out of the country, use a bank that is easy with this type of transactions by individuals such as Frances, Galicia or Rio.
Not sure about the amounts in usd, but it might not be a bad idea to have the donation contract apostilled, in case you need to present it to your foreign bank at some point. In my experience, transactions that reflect the reality are the ones that are easier to prove and cause less trouble.
thanks nikad. twb103 thats what we were looking for. i have been reading this site for as long as i have owned property in argentina to try to learn the lay of the land. its complicated and interesting at the same time. i call it my foriegn business management class. good luck
last comment and lets close the thread. nikad, are you sure, the bank knows what in the safety deposit box verifiable by documents? i know someone that sold a department for 278,000.00 US and keeps it in a box for whatever reason. taxes, central bank, transfer requirements, security from foriegn husband, what ever. really curious