Argentina Rentista Visa Overview
It is regulated in article 23 subparagraph b) of Law No. 25,871, regulated by Decree No. 616/2010. Rentista is one of the easiest and most common types of legalization in Argentina. If you have a passive and steady income, not related to hired job activities, but an income from the rent of your apartment, or anything that will prove passive income, then this option is for you. You must prove to the NATIONAL DIRECTORATE OF MIGRATION the origin of the funds and their entry into the country, through banking or financial institutions authorized by the CENTRAL BANK OF THE ARGENTINE REPUBLIC. Likewise, you must prove that the amount of income you receive is sufficient to support yourself and your primary family group. In order to be able to apply for temporary residence as an annuitant, the minimum amount required is approximately USD 1000-1500/month.
Two Years Of Legal Stay Will Lead You To Argentinian Citizenship
After two years of Legal stay under Rentista Status, you will be able to apply for Argentinian citizenship. Argentinian law allows foreign residents who stay two years legally in Argentina to apply for Argentinian citizenship. The process of citizenship will happen at the court. Poder Judicial de la Nación Judiciary of the Nation is the organization where the citizenship process happens. More about Argentinian citizenship read here.
Rentista Visa Requirements
1.- valid passport with at least two blank pages, or if you are from a neighboring country (MERCOSUR), you can present a valid ID or nationality certificate with a photo.
2.- Argentine criminal record. Incorporated into RADEX. You have to proof of the absence of offenses committed in the territory of Argentina;
3.- Criminal record of the country of origin. The Document has/must be endorsed by an Argentine consular authority or with the apostille of The Hague Convention or endorsed by the consular authority of the issuing country in Argentina (only valid for Mercosur and associated countries). Required only to foreigners over 16 years of age.
4.- Certificate of Argentinian address or public service bill in your name. You will need proof of the place of residence in Argentina (a lease agreement, an invitation from people officially residing in the country, a certificate of ownership of real estate, a contract for the sale of real estate by installments, etc.);
5.- Country entry stamp stamped on the travel document.
6.- You must prove to the National Directorate of Migrations the origin of the funds and their entry into the country, through banking or financial institutions authorized by the Central Bank of the Argentine Republic. Likewise, you must prove that the income you receive is sufficient to meet your maintenance and that of your primary family group. For the purposes of granting residency, the provisions of Law No. 25,246 on Concealment and Laundering of Criminal Assets will be taken into account. In order to access a temporary residence as an annuitant, the money required is Argentinian currency. The actual amount for the Rentista stay has to be double-checked directly with the authorities as the currency is changing very fast in the country. An estimated amount in USD equivalency is at least $ 1,500/month for a family of three ($ 700-800 per one).
In an application for a residence permit in Argentina under the Rentista visa, in addition to the applicant, you can include a spouse and children, including adult children under 25 years of age. Additional income may be required to include dependents.
7. – Finally, you need a payment confirmation of the visa fee through the RADEX system. Highly suggested to go with the Express option.
All documents must be translated into Spanish and certified in Argentina by a collegium of translators. Submission of documents is carried out in the territory of Argentina, which cannot be left while the documents for a Rentista visa are being in the processing.
Argentinian Rentista Status Explained More
Let me put the Rentista Stay description in different words. Suppose you wish to settle in Argentina as a Rentista, and obtain your temporary residence in Argentina. In that case, you have to support your stay in the Argentine Republic with your own financial resources brought from abroad, from the income you produced by property rent, or from any other lawful income from external sources. The income must come from a “guaranteed source”, such as investments in foreign banks, companies, stock capital and other sources not related to wages.
The money should be deposited to your Argentinian local bank account or any other formal financial institution. Once money lands in your local account, you have to pay 35% tax. In addition, you will need to prove that your income is legal income, in other words, not criminal money laundering. In practice, it will be enough to provide documents that you have paid taxes on your income in the country of their origin.
It is best to own the property for at least 5 years. Otherwise, the Argentinian Migration Department may be asking you about the origin of funds for the purchase of housing. Then you will have to confirm the legality of these funds with documents (for example, a donation agreement from a relative or a will (devise)(copy) is suitable. If documents for a residence permit for a Rentista are submitted on the basis of a loan, you should provide evidence of where the funds for the loan came from.
The Rentista Stay Processing Example:
1 – In your come country, you make a lease agreement as a landlord of your property, which is officially registered by authorities in your home country. You are required to register a lease for a year or more. Then you register as self-employed and pay tax exactly as self-employed.
2 – In addition to the basic documents mentioned above, you should bring to Argentina: a lease agreement (with an apostille on the original document), a documentation of the property on your name (with an apostille on the original copy).
For example, when you rent out an apartment, you will have a lease agreement is required; also, required documents on the property, and, in some cases, extracts obtained from the tax office are required. Documentary evidence of the sale of real estate in installments is also suitable; loan agreements, which indicate the amount repaid by the borrower on a monthly basis; For a Rentista visa, it may be suitable, employment contracts with foreign enterprises or other documents that can serve as evidence of regular income. For example, if you have a company in your home country, and you have a contract with another company paying your company a steady income, and you own that company, that may also work for Rentista Visa.
Argentina requires original documents with apostilles. If you can not apostille an original document, it is necessary to make a document copy at the notary, and the authenticity of the notary, and then, needs to be confirmed by the Ministry of Justice. And then it will be possible to put an apostille on this document from the Ministry of Justice. There is no necessity to translate apostille documents into the Spanish language because translation to Spanish should be done here in Argentina by the designated organization called Colegio de Traductores. You would also need to attach a certificate from an Argentine bank stating that the money for renting your apartment is credited to your bank account. Usually, non-residents, are able to open a local Argentinian bank account at Santander Banco. The majority of other banks will ask you for a National DNI, otherwise, they just don’t open any account with your foreign passport.
So, back to the money proof. Most importantly, no one requires you to open this account immediately at a local bank, immediately upon arrival in Argentina. For the initial submission, it will be enough to show basic evidence of the receipt of your money transfer to your name in Argentina. It can be:
– Western Union receipts
– Cash withdrawal receipts from an Argentine ATM
– Even a printout of your card balance at an Argentine ATM
Argentinian authorities are well aware that a TOURIST who has arrived (and until you apply for a residence, your status is a tourist) and you CANNOT open a full-fledged bank account in Argentina. Therefore, as an exception, they will accept such primitive evidence of receipts of wealth from your home country Rent to Argentina.
Where To Submit And How To Submit Your Documents
You have to upload your documents to the migration system through the RADEX electronic system. After some time, you will be invited to an interview with the migration department to compare the documents that you sent them via the Internet with the original documents which you have to bring along with you to the interview. Here, I would personally suggest applying for the express processing option, as it cost little extra money but works really fast than normal cases which may last months. Once they confirm your original documents, you will be able to download a certificate called Residencia Precaria, which is the proof of your legal stay in Argentina. This document is issued until your real Temporary ID card is ready to print. You should renew your PRECARIA every three months. After a few months of processing, they will send you your Temporary Residency by mail to your local address in Argentina.
Once you have submitted for the Argentinian residency, you would be able to open an Argentinian bank account and organize the flow of your funds from the rent in your home country to your Argentinian bank account, providing the bank with a lease agreement as the basis for the receipt of money. Immediately send your personal Argentinian bank account statements to the migration department in order to fulfill one of the main conditions of the Rentista status. Just remember, your income must be in the country through banking or financial institutions, authorized by the central bank of Argentina. Otherwise, you are going to have issues during your renewal of your Rentista stay after a year. Because Rentista status is renewed annually. At the same time, the basis for obtaining a residence permit can be changed if you have conditions changed. For example, if you married to Argentinian citizen during the year, you can directly apply for Permanent Residency.
And so, when extending your residence, Migration Department will carefully check whether you fulfilled the MOST IMPORTANT requirement of the Rentista Temporary Residence.
Who Is Eligible For A Rentier Visa In Argentina
– foreigners who receive a permanent passive income from the rental of real estate;
– foreigners who can confirm monthly passive income not related to the implementation of work activities (interest on deposits, rent, alimony, etc.).
– After three years of renewal of the status of a Rentista, you can get permanent residence. After two – apply for citizenship. In other words, the validity of the primary visa is 1 year, renewable for up to 3 years. After that, the resident can apply for permanent residence (permanent residence in Argentina). Moreover, without waiting for obtaining permanent residence (after two years of residence in the country), you can apply for Argentine citizenship.
– Rentista Residence permit holders can set up a business or work independently in Argentina, but cannot work as employees.
– Additionally, it is worth mentioning that in Argentina there are no restrictions on dual citizenship; there is no need to give up your previous passport when obtaining an Argentine one.
– The passport of an Argentine citizen is a relatively strong document, opening up the opportunity to visit without a visa or with a visa on arrival in 170 countries and territories, including all Latin American states, Schengen, and the UK. Argentines can travel around Latin American countries even without a passport, using a Permanent ID card.
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