Oct 18, 2023·edited Oct 18, 2023Liked by BowTiedMara
Great article as usual. I'm seeing more demand from Ex-Pats. Just today I was chatting with a new client that was buying a slightly under $1 million US dollar house. This was my third in a few weeks. Most of these Ex-Pats are married to Porteñas that have moved back to be close to their families.
I really think all real estate at these levels will do well over the next 5-6 years. I believe it might even possibly double within 6 years depending on if Milei follows some of our advice.
If he does a Golden Visa, forget about it. Things will EXPLODE!
Yeah I agree, a Golden Visa would be very interesting. Many foreigners who want to buy a property do not want to go through the rentista hassle and still want permanent residency. A GV could grant permanent residency straight away (for example for a minimum purchase of 200k)
Oct 18, 2023·edited Oct 18, 2023Liked by BowTiedMara
Milei's office reached out to me last week. This is what I told his office.
Golden Visa Plan (Drafted by
@BuySellBA
for Javier Milei’s office)
Terms and conditions:
- $250,000 to $400,000 (TBD) minimum investment into Argentina. That investment must be made into real estate or a business or software technology that will drastically improve the lives of Argentines with technology.
- If it is for real estate, then the buyer of the real estate must hold it a period of at least 3 years before selling it. They would get a temporary DNI for 3 years and after the 3 years they are eligible for an Argentine passport for a set fee that is reasonable.
The buyer of the real estate if they want the passport option and they want to take advantage of the Golden Visa must pre-pay 3 years of property tax upfront on that property. Property tax isn’t much. Typically, 1% per year but those funds would go into a special fund for Argentina.
- After they hit the 3-year period they pay a one-time fee of $X,XXX to get their actual passport issued and it will be very quick.
- Once they get their passport, they are free to go as they please through Argentina and there will be No physical requirement period to stay in Argentina.
Holders of a Golden Visa passport will NOT be taxed on any assets they hold outside of Argentina. Only on assets held INSIDE Argentina.
This was my advice. I have many ideas like this that could bring in billions and billions of dollars into Argentina relatively quickly.
It just needs to be roadmapped out and carefully planned but I already know many financial institutions that can handle this type of volume.
* As usual, the buyer will have to undergo a background test to make sure that person has not been arrested, doesn't have any drug trafficking or weapons charges. They must pass ALL background checks before they are allowed to quality for this program.
Looks like a great list! I think the most important thing is to give residency based on buying property. Right now that is not an option. It could even be permanent, or the traditional route of 3 years and then permanent. The big things with good functioning Golden Visa programs is:
- It provides residency based on property purchase
- It requires only LIMITED days/year of physical presence.
Right now, ALL of Argentina's residency paths require at least 6 months of physical presence in order to maintain status. This is the most important item to address in the Golden Visa. Portugal has set it to a 7-day physical presence per year, or 14 days every 2 years. This is why the program was so popular.
The thing is that they cannot do, is change the timeline for citizenship, since that is set in the constitution. Anyone, no matter through what route or even staying illegally, can apply for citizenship after 2 years as long as they can provide proof of their ties to the country. A property is sufficient proof.
I like the fiscal suggestion of only taxing the assets in Argentina, that is a good idea (not sure how hard it would be for them to implement this)
Everyone can be done. With planning, thinking, time and money. ANYTHING. To FIX Argentina (I'm talking systemic change it's going to take time). But EVERYONE must be thought out. Everything.
Great article as usual. I'm seeing more demand from Ex-Pats. Just today I was chatting with a new client that was buying a slightly under $1 million US dollar house. This was my third in a few weeks. Most of these Ex-Pats are married to Porteñas that have moved back to be close to their families.
I really think all real estate at these levels will do well over the next 5-6 years. I believe it might even possibly double within 6 years depending on if Milei follows some of our advice.
If he does a Golden Visa, forget about it. Things will EXPLODE!
Yeah I agree, a Golden Visa would be very interesting. Many foreigners who want to buy a property do not want to go through the rentista hassle and still want permanent residency. A GV could grant permanent residency straight away (for example for a minimum purchase of 200k)
Milei's office reached out to me last week. This is what I told his office.
Golden Visa Plan (Drafted by
@BuySellBA
for Javier Milei’s office)
Terms and conditions:
- $250,000 to $400,000 (TBD) minimum investment into Argentina. That investment must be made into real estate or a business or software technology that will drastically improve the lives of Argentines with technology.
- If it is for real estate, then the buyer of the real estate must hold it a period of at least 3 years before selling it. They would get a temporary DNI for 3 years and after the 3 years they are eligible for an Argentine passport for a set fee that is reasonable.
The buyer of the real estate if they want the passport option and they want to take advantage of the Golden Visa must pre-pay 3 years of property tax upfront on that property. Property tax isn’t much. Typically, 1% per year but those funds would go into a special fund for Argentina.
- After they hit the 3-year period they pay a one-time fee of $X,XXX to get their actual passport issued and it will be very quick.
- Once they get their passport, they are free to go as they please through Argentina and there will be No physical requirement period to stay in Argentina.
Holders of a Golden Visa passport will NOT be taxed on any assets they hold outside of Argentina. Only on assets held INSIDE Argentina.
This was my advice. I have many ideas like this that could bring in billions and billions of dollars into Argentina relatively quickly.
It just needs to be roadmapped out and carefully planned but I already know many financial institutions that can handle this type of volume.
* As usual, the buyer will have to undergo a background test to make sure that person has not been arrested, doesn't have any drug trafficking or weapons charges. They must pass ALL background checks before they are allowed to quality for this program.
Looks like a great list! I think the most important thing is to give residency based on buying property. Right now that is not an option. It could even be permanent, or the traditional route of 3 years and then permanent. The big things with good functioning Golden Visa programs is:
- It provides residency based on property purchase
- It requires only LIMITED days/year of physical presence.
Right now, ALL of Argentina's residency paths require at least 6 months of physical presence in order to maintain status. This is the most important item to address in the Golden Visa. Portugal has set it to a 7-day physical presence per year, or 14 days every 2 years. This is why the program was so popular.
The thing is that they cannot do, is change the timeline for citizenship, since that is set in the constitution. Anyone, no matter through what route or even staying illegally, can apply for citizenship after 2 years as long as they can provide proof of their ties to the country. A property is sufficient proof.
I like the fiscal suggestion of only taxing the assets in Argentina, that is a good idea (not sure how hard it would be for them to implement this)
Everyone can be done. With planning, thinking, time and money. ANYTHING. To FIX Argentina (I'm talking systemic change it's going to take time). But EVERYONE must be thought out. Everything.