Visa Application Question

[A&A]

So, I am planning on applying for Visa Rentista, and my wife will be my dependent (and my son), but i had a couple of questions.

We are close to having all of our documents. (Awaiting a corrected birth certificate for my newborn). We have each of our birth certificates (2 "original copies" each, 2 marriage certificates all apostille by various States), FBI crime report (not felons..whew I was worried about my wife).

So then we need to fill out application and make an appointment with the Consulate here in NY.

My questions are as follows:

Do I need to get them translated before we meet with the Consulate here, or is it something we wait to do in Argentina? (If here, does anyone have translation company in NYC they suggest?)

With respect to bank info, what is acceptable? (If personal bank account, how many months of statements, or just show you have savings? And these need to be translated too?

After going through this process here in the States, I can see why people recommend doing it before going down to Argentina. The bureaucracy lag here is painful, and i speak the language....

Thanks in advance for any info and any additional tips.

 

[steveinbsas]

With respect to bank info, what is acceptable? (If personal bank account, how many months of statements, or just show you have savings? And these need to be translated too?

After going through this process here in the States, I can see why people recommend doing it before going down to Argentina. The bureaucracy lag here is painful, and i speak the language....

According to the requirements for the visa rentista, migraciones (at least in Argentina) wants to see a stable source of "uninterruptable" income (profit or dividends from a business or income from a trust). Money in the bank is not considered income and a salary paid from abroad while you are here isn't acceptable, either. Rental income from properties may be acceptable if well documented.

The source and history of the income must be documented and the regulations stipulate that the income should continue in the future for at least three years. A letter from a CPA alone is not enough, even if it is notarized and receives the seal of the Apostille (such a letter would be easy to fake and migraciones knows it). If you have $75K to put into an irrevocable bank trust that will pay out the required income per month, you should be OK, but you will probably need more than that to live here with a decent standard of living and adequate health care.

 

[A&A]

Thanks Steve. While I don't think the $75K just lying around is an option at the moment, do you know how far back one needs to go to show a stable income of x dollars/pesos. I own my own business and have had it for over 6 years....so is it just show money has been going into the bank?

And I guess i will ask the Consulate how they handle a newborn in terms of income.

Finally, you think $US 2000/ month is not enough for a decent standard of living? What do you recommend? (Could you PM me, as I do not want to open this thread up to a whole debate on the issue...that's a whole new thread I would think, and a long debate would ensue.

Thanks so much.

And congrats, I think I read on a thread you got your DNI...I will save those questions for another time...

 

[steveinbsas]

Thanks Steve. While I don't think the $75K just lying around is an option at the moment, do you know how far back one needs to go to show a stable income of x dollars/pesos. I own my own business and have had it for over 6 years....so is it just show money has been going into the bank?

I have the impression that two years of income history will suffice, but imigraciones will want to know how the income will continue (for three years) without interruption while you are in Argentina. I don't think they want to hear that you will be involved in any way with the operation of your business while living in Argentina (especially, if it is a sole proprietorship). If incorporated, the income should be from dividends or profit sharing. You need to document that the income comes from the business, but it cannot be a salary paid to yourself. Perhaps your accountant can write a letter referring to your bank deposits as didivends, but migraciones could require additional documentation such as tax forms showing the "investment" income.

Once you have the visa rentista and live in Argentina for more than six months per year you become a resident for tax purposes and your worldwide income and assets may be subject to taxation. Few temporary residents file or pay these taxes, but that doesn't mean the liability does not exist. Migraciones never asked for any receipts from AFIP when renewing my temporary visa or when I changed it to permanent residnet status. The biggest problem with the tax man comes when a foreigner wants to sell a property here (especially without a DNI).

 

[A&A]

Hmmm, my business is incorporated, but primarily was considering my "salary" to qualify as profits, in any business can be fickle and do not necessarily track monthly... (i think many Fortune 500 companies wish they could predict steady profits for 3 years..

Thanks for the info. I have many more questions about visas and DNI (which I would like to get. I mean how do people set up internet in their apartments without it?) But i know their is a bunch of info on the board. (it can be tough though as many times the info can be contradictory.)

And your thoughts on income needed/ month? You can PM so as not to get bogged down...

 

[ElQueso]

Salary will not be considered for the rentista visa. It must be from dividends or from ownership shares, when you are talking about deriving the income from a corporation. $750 US a month should be sufficient, and my friend did not have to show a history, but a letter from the company's directors that he would be provided with that sum of money from dividends over the next two years.

Also, you need to do the translations here. If you do a translation there, they will have to be redone here.

 

[steveinbsas]

Thanks for the info. I have many more questions about visas and DNI (which I would like to get. I mean how do people set up internet in their apartments without it?)

You can get internet and cable with your passport, but the they are usually ncluded in "temporary" apartment rentals (six month "legal" maximum).

You can only apply for the DNI after you receive the visa and only do so in Argentina.

Even with a DNI you will find it problematic to rent an apartment for more than six months at a time. Long term leases (two years) usually require a guarantee from a local property owner. These properties are almost always unfurnished (renter provides fridge, light fixtures, and even curtains in some cases).

 

[Cheng]

We applied for our rentista visa from the Los Angeles Embassy. The lady who was processing our visa helped me out a lot so you might try calling the embassy in New York.

We were required to get a letter from a financial institution only. Maybe different places have different requirements but this is the criteria of the Los Angeles Embassy. Also, the dependents are just dependents, so if you have a family of three, you only have to show income for the one person. In Los Angeles as well, you do not have to proof that you will be getting the income for the next three years.

All our documents had to be translated into Spanish and then the translations apostilled. The translators had to be certified (I don't remember exactly how). But I used a company called ultratranslate.com. Maybe they are still on the web.

As others have received their rentista visas here in Argentina and have posted different info, I think that there are slightly different requirements depending on where you apply. The lady in Los Angeles told us absolutely no rental income would be considered. So, good luck with your application and check with whoever you are applying with.

 

[Attorney in BA]

I think that there are slightly different requirements depending on where you apply. The lady in Los Angeles told us absolutely no rental income would be considered. So, good luck with your application and check with whoever you are applying with.

Yes, the requirements vary depending on where you apply for your visa. The Consulate in New York has very complete information on their website: http://www.congenargentinany.com/.

 

[blackburn]

well of late this country is going a bit to the dogs......so maybe you should try somwhere else..............I luv it meseluf.....but got all the necessary now so don't have the hassle from the state inquizzzziters.....suerte