USD account for prospective rentista visa

[EduardoLF]

Hello everyone. I am considering moving to Argentina via the Rentista route. I am aware of the new 2000 USD / month requirement. I have a couple of questions however:

1. Would it be possible to open a USD account in Argentina for my application?
2. To meet the monthly transfer requirement , could I have my income transferred to the USD account to meet the requirement?
3. Alternatively, could I have my 2000 USD income transferred to an argentine account in pesos via a service that lets me use the blue rate?

Thanks for any input you may have.

 

[cumana]

Hello everyone. I am considering moving to Argentina via the Rentista route. I am aware of the new 2000 USD / month requirement. I have a couple of questions however:

1. Would it be possible to open a USD account in Argentina for my application?
2. To meet the monthly transfer requirement , could I have my income transferred to the USD account to meet the requirement?
3. Alternatively, could I have my 2000 USD income transferred to an argentine account in pesos via a service that lets me use the blue rate?

Thanks for any input you may have.

Hi, I am also trying to apply for a Rentista residence, but I am stuck with the opening of the bank account for the application... were you able to solve it or to open an account? thanks in advance

 

[julia_en_ruta]

In my experience, you will be able to submit the initial rentista application before having the bank account -- and you'll need to, since you'll need to bring the precaria to the bank to have any hope of opening an account.

Getting a bank account without a DNI, though technically legal, is a challenge. Banks are apparently not required to give you one, just allowed to give you one (according to the manager of my branch). You do have to get an account and start showing transfers before you get the DNI, though. I was able to get an dual account at Santander by escalating the issue to the branch manager and arguing repeatedly that the bank and Migraciones had conflicting rules with circular logic. He said they would close my account after 90 days if I didn't bring a DNI by then, but so far they haven't. By default it was a dual dollar/peso account, and I was able to receive dollars via Swift and then extract them as USD cash.

Our attorney advised us that the rules on this are changing, so I believe the new rules are that it has to be transferred in USD via Swift transfer. Previously you could transfer the correct peso amount through Western Union to your bank account. Essentially the amount per month has doubled.

 

[Alby]

Essentially the amount per month has doubled.

But, presumably, next month, it will halve again, given the devaluation this week (also depending on how far up the minimum monthly salary moves in January).

 

[cumana]

In my experience, you will be able to submit the initial rentista application before having the bank account -- and you'll need to, since you'll need to bring the precaria to the bank to have any hope of opening an account.

Getting a bank account without a DNI, though technically legal, is a challenge. Banks are apparently not required to give you one, just allowed to give you one (according to the manager of my branch). You do have to get an account and start showing transfers before you get the DNI, though. I was able to get an dual account at Santander by escalating the issue to the branch manager and arguing repeatedly that the bank and Migraciones had conflicting rules with circular logic. He said they would close my account after 90 days if I didn't bring a DNI by then, but so far they haven't. By default it was a dual dollar/peso account, and I was able to receive dollars via Swift and then extract them as USD cash.

Our attorney advised us that the rules on this are changing, so I believe the new rules are that it has to be transferred in USD via Swift transfer. Previously you could transfer the correct peso amount through Western Union to your bank account. Essentially the amount per month has doubled.

Thank you for the quick response! The consulate says it is a must to submit the application... Do you know if it is better/easier/possible to start the process locally in Argentina?

 

[julia_en_ruta]

I've only applied from within the country, so I don't know what the difference is, sorry!

 

[cumana]

I've only applied from within the country, so I don't know what the difference is, sorry!

Thank you, I am thinking of doing the same, going there and applying there... What are the first steps I need to take? Where to go?How long it takes etc... Sorry to bother, but all the info/details you send will be very helpful

 

[julia_en_ruta]

I think if you search the forum you'll find a lot of threads about the rentista visa, and more complicated questions might be good to ask an attorney.

Search results for query: rentista

baexpats.org

 

[barbablanca]

@julia_en_ruta with this double currency bank account, how one is able to spend the money in Argentina? If it’s spending in pesos, are they converted from usd on official rate? Or is it possible to withdraw dollars?

 

[julia_en_ruta]

I always extract the money in dollars, but I pay rent in dollars so I don't need them to be pesos. I haven't gone through the process of pesifying at the bank, so I don't know anything about converting it there.