New Laws? 60% state tax when foreigner sells property?
I have recently spoken to a lawyer here and he enlightened me that since around 5 months there have been some big changes in law.
Basically couple things:
1. If you are foreigner and you own property - while selling it you have to pay around 60% of tax on sell.
This second thing for me connected with the first one to totally fuck up:
2. There's no way to get Argentinian citizenship other than marriage right now, even if you are getting pension or confirmed income from other country, or you are investor - visa extends but status will never to citizen. Which is basically closing some ways, also screwing foreinger property owners.
Anyone heard of it, in hw many % is it true?
Regards!
Thomaso--please explain how this tax on sale applies
Thanks Rock--I guess that I'll have to take my accountant to lunch
I have been using the same accountant for 7 years. He is a friendly reliable chap who is a third generation accountant and sits behind his grandfather's desk. I bring him some New Yorker magazines and he practices his english. I have been through enough with him that I trust him.
After 3 (THREE) years of residency-
After 3 (THREE) years of residency you can change to permanent residency.
After 5 (FIVE) years (incl. the 3 years residency) you can get the Argentina-citizenship.
With DNI as a citizen of the EU I can travel to any Mercosur country.
As a visa is necessary for Brasil for US-citizens, that causes probs just with Argentine-DNI.
The usual and legal way to bring in usd not using CentralBank (with two arbitrajes changing usd-Ps-usd) is via the recommended casas de cambio. They charge between 3% and 7% for their service.
You wire to their NY bank account and in the moment, your transfer gets in there in NY), you will receive the money in their office Argentina.
Inform everybody you meet, when exactly you are getting the money, as so they can rob you, leaving the c.d.c.
No PLEASE use a Prosecur or any other value-transport-truck!