Transfering a large sum of money from Canada to Argentina


You should seriously consider flying out here first, getting your Argentine papers in order, opening a bank account here. And then just doing a wire transfer.

This will be the best rates, and probably well worth the extra effort, assuming everything is above board, and also assuming you don't have pressing time constraints to first get your papers in order.

Also, for your price range of property, you may have a significant portion of sellers who have accounts outside of Argentina. In which case being able to do a deal where payment is made in full or in part through external accounts, becomes not only a negotiating element for you, but is a win-win in any case.

Good Luck! ;)
Best advice. Go to a major bank, if possible their central office and do it. DO not risk bringing that money in in any other way, it will cause problems when buying, problems with Afip, etc. You are an Arg citizen. It is the safest and cheapest.


You can deposit large sums of money in any bank safely, as long you do not leave there for decades, since once every ten years or so there is a fiscal crisis that goverments try to solve by, somehow, confiscating banks accounts, specially those nominated in foreign currency.
But for short terms, usually thee is no danger.


My advice is just do everything legally. Right now it's fairly straightforward as long as you do everything legally. If you were born in Argentina I assume you have a DNI. If it's not updated, go and update it to the new electronic version as the old paper books aren't valid anymore. Banks don't recognize them.

As far as fees when purchasing a property figure you will have to pay a buyer's agent about 4% (plus IVA although you can typically negotiate to waive much of the IVA which is 21% on the amount you pay a realtor). An Escribano/lawyer which you have to hire and you have the right to select as a buyer will run about 2% (again legally 21% IVA but you can often negotiate to waive this if you don't need an official receipt). Then stamp tax is about 1.85% of the amount on the title deed.

It's also perfectly legal to pay the owner of the property abroad. So really try to see if the owner of the property you are buying has an account outside of Argentina. You will have to declare on the escritura (title deed) that you're paying abroad but that will save you the hassle of getting the cash into Argentina.

With the recent elections, it's clear that Fernández (Kirchner will really be running the country) will win the election in October. And with that will probably spell more currency controls, restrictions, red tape, etc. So I can't emphasize enough to bring in the funds in white/legally. It's never a problem getting funds into Argentina as that can be managed in blue/black. The issue you always want to be concerned about is EXITING the funds out of Argentina when you're ready to sell. Even though you say you are retiring and might not sell or leave Argentina soon. Eventually most people end up leaving Argentina. It's a VERY chaotic place and over the long haul, very few people stay permanently.

You can easily bring in the funds legally but before you do, first identify the property and first see if the owner won't accept to be paid abroad. On many high dollar properties it can be easily negotiated.