tax for foreigners

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maxilopez830

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Hello guys ,I plan to live in BA on Rentista Visa but the net worth tax here is very frustrating. It seems once you legally live in argentina for a year except student visa ,you will become a tax resident and your overseas incomes and assets will be taxed regardless of liability.

As a result I decide to reside in uruguay and get the permanent residency there .Afterwards I will go to BA as a tourist every year and live in BA as longer as possible . As a tourist, I can stay in BA for 90 days and no need to apply for a visa .But i wonder is it possible to extend for another 90 days without go back.to uruguay and come back again?

It seems unless you stay in argentina for more than a year ,otherwise you won't be a tax resident .Hence is it possible come here as a tourist and live for 90days then extend for 90days Afterwards go back to uruguay for a few days and come back again for another 90 days then extend again ?

As you know the living expense in uruguay is relatively high ,so hopefully I can live in BA at least for 10 months a year then uruguay for the rest of time .

To rent an apartment in Colonia del Sacramento uruguay where is the nearest city to BA ,However the rental price shown at mecardo libre uruguay is really high .Can anybody tell me the average price to rent an one bedroom apartment in Colonia uruguay ? Thank You!
 

steveinbsas

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Hello guys ,I plan to live in BA on Rentista Visa but the net worth tax here is very frustrating. It seems once you legally live in argentina for a year except student visa ,you will become a tax resident and your overseas incomes and assets will be taxed regardless of liability.

Ignoring the last three words of the second sentence, you would be liable to pay the personal asset tax after one tax year of temporary residency based on the rentista visa.

As a result I decide to reside in uruguay and get the permanent residency there .Afterwards I will go to BA as a tourist every year and live in BA as longer as possible . As a tourist, I can stay in BA for 90 days and no need to apply for a visa .But i wonder is it possible to extend for another 90 days without go back.to uruguay and come back?

Yes, you can ask for a 90 day extension (proroga de permencia) of the 90 day tourist visa at the offce of migraciones (if you are ever able to enter as a tourist in the first place).

seems unless you stay in argentina for more than a year ,otherwise you won't be a tax resident .Hence is it possible come here as a tourist and live for 90days then extend for 90days Afterwards go back to uruguay for a few days and come back again for another 90 days then extend again ?

Depending on the whim of the border agent, it may be able to come back and get a new 90 day tourist visa (after returning to Uruguay for a few days), but it's doubtful (in my opinion) that the office of migraciones woud grant an extension of that visa.
 

jeff1234

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If you are only making the trip to Buenos Aires a few times each year, why limit yourself to Colonia? When transportation returns to normal there will be a wide variety of places a few hours away by ferry or plane.
 

steveinbsas

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If you are only making the trip to Buenos Aires a few times each year, why limit yourself to Colonia? When transportation returns to normal there will be a wide variety of places a few hours away by ferry or plane.
If I understand the OP's first post, Colonia would only be a destination to visit for a few days, hopefully, just once a year befoe returning to Argenina to continue to live as a tourist in order to avoid paying the tax on foreign assets.

Since the visas runs aren't "legal" anyway, the chioce is to overstay the tourist visa or leave Argentina prior to the expiration of the prorroga and live in another country for at least 183 days of the year.
 

steveinbsas

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Hello guys ,I plan to live in BA on Rentista Visa but the net worth tax here is very frustrating. It seems once you legally live in argentina for a year except student visa ,you will become a tax resident and your overseas incomes and assets will be taxed regardless of liability.

Just to clarify, the asset tax (bienes personales) does not apply to your "net" worth. It applies to the "gross" value of your taxable assets. Any debts you have will not reduce the total amount subject to the tax.
 
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steveinbsas

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It seems unless you stay in argentina for more than a year ,otherwise you won't be a tax resident.
An additional clarification: Based on other posts, if you stay in Argentina more than 183 days of the tax year (Jan 1-Dec31) you become a tax resident,

Others have also posted that you become a tax resident after one full year of temporary residency.

I don't recall anyone posting about AFIP going after a foreigner who never declared or paid tax on their foreign income or assets prior to being granted temporary residency.

On a related note: AFIP does "go after" non-residents who do not pay the bienes personales on property they own in Argentina.

I was granted temporary resdency in late 2006 and bought an apartment a few days after I received the precaria.

I paid the bienes personales on that property in 2006, 2007, and 2008 but I have not had to pay any bienes personales on my Argetine assets since 2008.

I have never had to pay bienes personales on assets outside of Argentina, but that's only because I don' have any.
 
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maxilopez830

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An additional clarification: Based on other posts, if you stay in Argentina more than 183 days of the tax year (Jan 1-Dec31) you become a tax resident,

Others have also posted that you become a tax resident after one full year of temporary residency.

I don't recall anyone posting about AFIP going after a foreigner who never declared or paid tax on their foreign income or assets prior to being granted temporary residency.

On a related note: AFIP does "go after" non-residents who do not pay the bienes personales on property they own in Argentina.

I was granted temporary resdency in late 2006 and bought an apartment a few days after I received the precaria.

I paid the bienes personales on that property in 2006, 2007, and 2008 but I have not had to pay any bienes personales on my Argetine assets since 2008.

I have never had to pay bienes personales on assets outside of Argentina, but that's only because I don' have any.
yes 183 days may become a tax resident in argentina . Actually i am from Asia Hong Kong and sold my apartment recently which is around USD 700000. Regardless of the tax here in argentina ,it is a good place to live .cheap price ,beautiful environment and weather ,very decent private health care service . But it's wealth tax will be levied once assets over ARS 2 million ,ARS is depreciating at the same time that means you need to pay a lot . So i am afraid I can only live here for 6 months a year . Now I am contacting uruguay property agent ,their rental price in colonia isn't expensive only usd 400,500 a month for an two bedrooms apartment .So I plan to reside in uruguay first then very year come to argentina as a tourist .Unless they change the tax policy .
 
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maxilopez830

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If you are only making the trip to Buenos Aires a few times each year, why limit yourself to Colonia? When transportation returns to normal there will be a wide variety of places a few hours away by ferry or plane.
yes montevideo is another city I can consider but need two hours ferry to argentina and the rental price is around usd 600,700 per month for an one bedroom apartment which is acceptable too . Of course i can come here by aeroplane .
 

on the brink

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For a change from BA I'd choose Colonia over Montevideo, which in some ways is a smaller, watered down version of BA.

Colonia is a small riverside town, with a slow, relaxed pace of life - good alternative to BA's sometimes frenzied pace. Ferry service to Colonia is more frequent, shorter - one hour - and cheaper than to Montevideo.

Just my two cents.....
 
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