What are the regulations in Exporting Money from Argentina?

TonyDiaz

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Hola!

Selling my condo in Argentina and a BIG question is; what are the regulations (Customs) in exporting the funds from a sold property? Kind of scary when dealing with Argentine policies. I called the Argentine Consulate and they don't even know. I tried calling AFIP (the IRS of Argentina) and no one picks up. Emails also same issue.

I hope someone knows!

Tony
 
Hola!

Selling my condo in Argentina and a BIG question is; what are the regulations (Customs) in exporting the funds from a sold property? Kind of scary when dealing with Argentine policies. I called the Argentine Consulate and they don't even know. I tried calling AFIP (the IRS of Argentina) and no one picks up. Emails also same issue.

I hope someone knows!

Tony
You need to talk to your bank. If you did everything en blanco, you should have no issues wiring the money out.
 
Gracias!

I do know that wiring the money from a well known bank in Argentina is "possible"; I am not 100% on that. I know there are limits as to how much money can be wired. If over that limit, one has to declare it. It's a lot more than 10K for sure.

I wonder how much taxes I need to pay to wire that money to the US?

I could bring the entire cash on the plane, but that can be risky.

Hmmm

PS: What is Blanco? I know it means white...
 
Gracias!

I do know that wiring the money from a well known bank in Argentina is "possible"; I am not 100% on that. I know there are limits as to how much money can be wired. If over that limit, one has to declare it. It's a lot more than 10K for sure.

I wonder how much taxes I need to pay to wire that money to the US?

I could bring the entire cash on the plane, but that can be risky.

Hmmm

PS: What is Blanco? I know it means white...

Just like in the US , any amounts over 10 k must be declared. En blanco means that you payed all and any taxes owed on the sale. Wiring the money is actually very cheap ( +/- 0.03% ). There are no limits on the amounts you can wire, over 5k you need to prove source of funds ( anti money laundering regulations ). You need to talk to your bank's foreign commerce department and they will tell you what you need to present. I would not advise flying with 100-200k in cash and then try to deposit that into a US bank account...
 
I would first consult with a tax accountant in your area re how the IRS views funds derived from the sale of your property. There may be an impact as Argentina does not have a reciprocal tax treaty with the US.
 
This is also related to where you are legally resident. if you have a DNI you are subject one set of rules and if you sell you will have to pay annual taxes on the proceeds.
 
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I would first consult with a tax accountant in your area re how the IRS views funds derived from the sale of your property. There may be an impact as Argentina does not have a reciprocal tax treaty with the US.

Yes.

They added that I needed to get a figure on how much was this property worth in 1983 (dollar amount) and how much was it sold for today. They can reduce the amount of Taxes instead of the 30% or so
 
This is also related to where you are legally resident. if you have a DNI you are subject one set of rules and if you sell you will have to pay annual taxes on the proceeds.

Hola!

I had to renew my DNI since that one I had was from 1981! I am a Naturalized American and reside in the US.

Thanks!
 
Just like in the US , any amounts over 10 k must be declared. En blanco means that you payed all and any taxes owed on the sale. Wiring the money is actually very cheap ( +/- 0.03% ). There are no limits on the amounts you can wire, over 5k you need to prove source of funds ( anti money laundering regulations ). You need to talk to your bank's foreign commerce department and they will tell you what you need to present. I would not advise flying with 100-200k in cash and then try to deposit that into a US bank account...

Si!

I heard that it is recommended to to have a Bank Account in ARG and then wire the money from there. My back is a Credit Union but it is able to receive funds from
Just like in the US , any amounts over 10 k must be declared. En blanco means that you payed all and any taxes owed on the sale. Wiring the money is actually very cheap ( +/- 0.03% ). There are no limits on the amounts you can wire, over 5k you need to prove source of funds ( anti money laundering regulations ). You need to talk to your bank's foreign commerce department and they will tell you what you need to present. I would not advise flying with 100-200k in cash and then try to deposit that into a US bank account...

In Cordoba I have ReMax Real Estate selling my home. They stated that all will be properly declared as as true funds are concerned. AFIP should be satisfied with this process.

I am a nervous wreck guys. Argentina is inducing stomach pains and anxiety because everything there is so uncertain. Though I am very fluent in Spanish, that means SQUAT. I have not been there since 1982. Just before La Guerra de Las Malvinas. Total outsider.
 
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