Even if you use Xoom it won't allow more than about US$3,000 a month and surely you house will cost more than that.

And regarding bring "cash" into Argentina, being an American I can't bring over more than US$10,000 each trip and surely your house will cost more than that.

We built vineyards in San Rafael and after opening a Bank Account with Bank Of Nacion, obtaining a CUIT Number etc. we wired over more than US$500,000 but unfortunately our dollars were converted into the official peso rate.

If you come up with a way to bring large sums of US or Canadian dollars into Argentina please let us ex-pats know how you do it. The same goes for getting AR pesos out of the country into the US without taking a severe haircut.

Welcome to Argentina, the land of Queen Christina.

.

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A bank transfer into the account of the seller in Argentina may work best. Although you'll get the official exchange rate which is about 60% less than if you handle dollars bills.
Some people have found a way thru bordering countries such as chile or uruguay. Get a bank account (chile has commercial ties with the US) in a bordering country and withdraw your money as needed. You may have to do several trips, but for a 60% more per dollar, the trip will pay itself and give yourself vacations! i am live in Córdoba let me know if you need anything here.

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Hows it done, ....... informal value transfer system (IVTS) is any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form. Informal value transfers generally take place outside of the conventional banking system through non-bank financial institutions or other business entities whose primary business activity may not be the transmission of money. The IVTS transactions occasionally interconnect with formal banking systems, for example, through the use of bank accounts held by the IVTS operator.

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Carlyb gives good advice but don't forget AFIP (the IRS of Argentina) might someday knock on your door and say, "Gee, we're curious how you bought (as evidenced by a transfer of Deed) your lovely house worth US$100,000 without declaring any income in Argentina or Bank transfers to Argentina".

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Is important what said Tom, but let me explain an options, for example.
Price property: 100.000 usd real price.
you sing tittle of the property (escritura) for 40.000 usd around.
If you trip a lot of time to Canada to Argentin you can say to afip when you move to argentina you move with 10.000 usd in different times.
Now a lot of sellers want to sell their properties only if you pay in Uruguay or US bank accounts.
goog luck

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I won't go in details about some suggestions, but allow me to say I am completely against false statements or deceiving AFIP or any institution. Lying about your property value or moving funds in an illegal way may get you in deep trouble; specially if you are a foreigner. Opening an account in a neighboring country, bringing any amount of money into the country and declaring it if it is over U$S 10000 is not against the law. If for any reason you get audited by the AFIP you show where the funds come from and what you are planing to do with it, no pain. It is completely legal to bring U$S dollars into Argentina for purchase or investment. There isn't any obligation to use an Argentine bank to move funds.

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Yes, you can bring money into Argentina and not through a Bank but if from the US only $10,000 at a time. I suppose if the Seller offered terms over a period of time you could make many trips with $10,000.

Regarding stating a lower purchase price to AFIP, say $40,000 when reality is $100,000 you will have effectively lowered your cost basis to $40,000 and when you sell the taxing Agency whether AFIP or the IRS ir both will read a $60,000 profit and tax it accordingly.

Regarding being "Audited" by AFIP, in 5 years we have been audited twice and each time thanks to our Argentine CPA and our insistance everything be done legally we came out squeaky clean.

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Sorry for you that decide it to go to Argentina. I'm was born there and I'm planning to move to Cuenca. Gov. in arg will take your money at the rate that they decide and if you need to travel, will be more expensive. Today house are high priced, tomorrow who knows.
Eduardo

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I think Eduardo makes a good point, however, what "expensive" means to one person may not be the same for another.

In 2008 when we moved to Mendoza Argentina into one of the nicest Condo buildings in town we were paying about US$600 a month and when we moved in 2013 from an even better Condo building next to the Diplomatic Hotel we were paying US$1,250. When compared to NYC or San Francisco it's a bargain.

If you come to Argentina today with limited funds, e.g. a few thousand US Dollars a month you will indeed see what Eduardo means, it doesn't go very far. Five years ago it did but not today.

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I thought you could bring any amount as long as you declared it. Am I wrong about that?

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I can only speak as an American but when I fly to Argentina on the flight you must declare on a form if you are bringing to a country more than $10,000.

I don't know about other countries.

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That's what I read too and I declared the amount I was bringing from the states. Of course nobody from Customs looked at or took the form.

The problem I worry about is stateside. You are supposed to declare there if you are taking more than 10K out with you, but I don't know where you do that. I've left the U.S. mostly from LAX but the last couple of times it has been from DFW and I have never seen a sign 'Declare More then 10K here' so I ignore that part.

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Not only this, now the have dogs sniffing if you have green cash. They go for bribes, is worse than Mexico.
You are supposed to sell at the rate of the official gov.

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The currency sniffing dogs are for Argentines taking money out of the country, not bringing in in. Christina loves Ben Franklins flowing into Argentina.

When you fly to Argentina and enter through Buenos Aires or Santiago, Chile I have never been asked about money or a suggestion made a bribe was i order.

In fact living for five years in Argentina I have never had to make a bribe although I have heard of such things and this is true even when my wife who drives has been stooped three times for traffic violations and where we have built a vineyard and a house and well that necessitates many Inspectors.

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Well I'm not sure what is best but wouldn't it be possible to use Bit-coin? Surely their are lots of Argentinians that would rather have Bit-coin than the local currency.

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I am not sure what you mean, are you suggesting that a person buy more than $10,000 of Bit-coins and bring them to Argentina?

If the person brings less than $10,000 he/she can get AR 9 - 10 pesos compared to the official rate of AR 5.7. That is a 100% spread.

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Bit-coin is an electronic currency you don't "bring" it anywhere its traded online(though it is possible to put it on a USB and trade it physically). You could have a million dollars worth and no one would know about it except perhaps the bank you traded your other currency from to get it. If you sent money from a bank. It can be traded in person as well.
For example you could buy say US$20,000 worth of bit-coin go to Argentina and advertise that you want to sell it there.

Here is a youtube video their are others. http://www.youtube.com/watch?v=e__m-w4N7NI

I'm no expert so do your own research just throwing it out as a suggestion.

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Not sure but since bit-coin isn't a recognized currency it may be legal to trade in Argentina where dollars are not.

If you have a monthly income in a US $ account outside the country you could trade it for Bit-coin online then sell locally.

Of course I don't know the local rate and their is always risk when you go to physically trade with someone. Use caution.

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I believe that Argentina is one of the countries that the Bit-coin is strong but again I ask, why buy Bit-coins when you aren't sure you can sell them or get an attractive rate when you can bring in US dollars and receive almost a 100% premium?

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good points TomP. BitCoin is good but again you might lose in the exchange while coverting them from dollars into pesos. Hardly anyone will pay the blue market dollar valuer for your bitcoin. Most people are looking to buy from the desperate to sell. I have some BitCoins (just have them for fun) I tried to sell some when it was under US$100 each, I got a few interested in them, all willing to pay under US$90. Get Dollars but don't hold them too long, our money is also depreciating.invest in precious metals.

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Well it would allow you to exchange more than 10k if you can find a buyer. You don't need to even buy them till you do find a buyer so not much risk of getting stuck with them.

I heard one mention of people getting a premium for bitcoins in Argentina but it was a month old.

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I haven't followed up on it for several months but I too heard that Argentines liked Bit-coins so the question is how much will they pay for them opposed to bringing in US Dollars and having people stand in line to give you AR 9 - 10 pesos per 1 US Dollar.

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Just found a site to connect local traders of BitCoin for cash of the 5 listed for Cordoba 3 are offering a premium 2 are 29% or more. But only a max of 10k AR pesos.
Of the 5 in Buenos Aires all are offering a premium 10-35% one is about 30% up to 50k pesos. not as good as the blue rate but not bad either.
https://localbitcoins.com/country/AR

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I know about people exchange 1 dollars to 7$AR, you transfer this money and they pay cash in the place. It isn´t bad. Best Regards

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Are you referring to Xoom?

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I am referring a person, you make a bank transaction of Uruguay bank and he pay here in Argentina. Is very normal, without use bank. When you use xoom you pay commission.

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I am not being rude but are you saying I give a Bank in Uruguay US$10,000 and hope someone I don't know in Argentina gives me my money back ?

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Forget Bitcoins its used to change Pesos to USD $, Not the other way round!

Money for buying Properties need to come in threw official channel and the official rates, its the ONLY way, don't try it any other way if you are a Foreigner you will end up lost ( in translation!)

The only good part if you are a Foreigner when you sell with today's laws you can Buy US $s and take them out, at least for the moment.

Expect for Monitory Controls, especially on out going US $s for the next 2 Years.

I would only bring in USD $10,000 cash each time I travel, as its legal, this goes for Argentina and all other countries of the World except some where the Euro is King and there its 10,000 Euros max!

We should be going into some kind of melt down in Argentina, each crises is different, but it will effect us all in some ways, some for the better , some for the worse, see where you stand to see if you invest or ride out the wave, ....... Xoom and other ways of transfers are OK for small amounts if you don't mind loosing a 10 perscent or more, .......... other more, other wise its wise to find some one who does, ....... "IVTS"! Even if it seems strange, its the oldest way of transfer Money in the world! And still going strong!

IVTS, ............. ....... informal value transfer system (IVTS) is any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form. Informal value transfers generally take place outside of the conventional banking system through non-bank financial institutions or other business entities whose primary business activity may not be the transmission of money. The IVTS transactions occasionally interconnect with formal banking systems, for example, through the use of bank accounts held by the IVTS operator.

Hope I have been of help! Bob Frassinetti

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PS, ......... Yes, that's right, if you brought into the country money through the correct channels and bought Real Estate in Argentina, in the past, and now, say, you want to sell it, you can, ............

Of course you need to sell in Pesos, but, with the right paper work in front of the AFIP, you will be able to exchange it into USD $s, when you show that you are a Foreigner, and want to move out, you will be able to exchange the Pesos into USD $ and transfer them out, at least for the time being, .......

............unless you are caught in between the changes that are coming, a risky deal so close to the elections, ........ another possibility would be to cash in exchange for your Real Estate "Cedins"!, .......... but this would be near Science Fiction to find a Buyer who would pay you in this Certified USD $ coupons, .........

How desperate are you in "leaving" Argentina?

I would if you could ride out the wave for the next 2 years when we should have a New President and Government, ........... prices should go up! Everything that goes down always goes up, ........... eventually!

South America an be disappointing, but, as I have learnt also can be very successfully, .............

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Tom, remember I am Argentinian and Realtor, I know about different options to don´t move to money here in Argentina. Is very normal you pay in Bank account and recive your pesos here, lot of Argentinian are thinking to move money to other countries. Mendocinian open bank account in chile also is very difficult and porteños in Uruguay. Other options is if you buy a properties here is only move to argentina the price of escritura and the rest in dollars.
Why exchange company not close here in Argentina, because they change a lot of money in blue (famosas cuevas). Is possible you buy and not move your money to argentina and pay afip.

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Tom, remember I am Argentinian and Realtor, I know about different options to don´t move to money here in Argentina. Is very normal you pay in Bank account and recive your pesos here, lot of Argentinian are thinking to move money to other countries. Mendocinian open bank account in chile also is very difficult and porteños in Uruguay. Other options is if you buy a properties here is only move to argentina the price of escritura and the rest in dollars.
Why exchange company not close here in Argentina, because they change a lot of money in blue (famosas cuevas). Is possible you buy and not move your money to argentina and pay afip.

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Here is how to send you money to Argentina: Take a trip to uruguay and open a bank account there. You can transfer your funds from Canada to Uruguay very easily. Then you can go to Uruguay, take out 10.000 at a time and cross over to Argentina. Yes, you might need to do this several times, but if you take a trip with four friends then you can bring 50.000 in each trip. Urugay is just crossing the river. This is an easy, cheap and totally legal way to bring your money to Argentina.

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For purposes like buying real state, you can open a USD-denominated bank account in Argentina and transfer directly to it.

It is the simplest and fastest option for this case, you just need to be sure to provide all the required documentation regarding the transfer to the bank prior to the actual transfer to avoid any delays.

I have had a decent experience using Banco Hipotecario, and have been told BBVA and Santander Rio are good options, but never had a chance to try.

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Ismael raises an interesting point, I have never heard of opening a US denominated bank account in Argentina where for example you send $50,000 and receive in Argentina $50,000 US and can withdraw US dollars.

I have wired many hundreds of thousands from the USA to Argentina, Bank Nacional, to build my Argentine vineyards and when notified that my US money had arrived my balance at Bank Nacional was always in pesos and at the "official rate".

I would love to know how to send US dollars and receive US dollars ...///

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don't you wish you held on to those little bitcoins till they were worth $1200... ;-)

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If you had a US based account established with an international bank like Chase, wouldn't you theoretically be able to withdraw dollars in Argentina without an exchange to pesos being necessary? I could see them charging some fee for this service but it would be less costly than losing value in the exchange. Anyone using a setup like this?

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First, the bank branches here are not really branches, they are separate legal entitites. The fact that you have an acoount or priveledges for your US bank account , it does not mean you have the same priveledges here with the "same" bank. Second, it is the law that dollars cannot be given except for certain citizens or legal residents who have applied for and given a limited priveledge by AFIP, the national tax agency..... If it costs less, it is only because of a policy giving you priveledges from your home bank, like the home bank waiving their normal rights to a service fee for using their card.

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Santier,

Chase is my bank and I have sent more than US$500,000 to Bank Nacion in Argentina so I could build vineyards. Each transfer was paid by Bank Nacion at the "Official" rate when received.

As far as using an ATM in Argentina the ATMs will not pay in US Dollars, only pesos.

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HI, if you bring money into the country it has to be at the official rate of exchange, otherwise the AFIP will check your finances alerted by the transaction of buying a house, same goes with a car. The blue does not apply you have to justify your income, period. Forget about the blue if you want to do everything straight otherwise check with your Notary.
When the4re is a will there is a way. Good luck!!

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You have to bring US cash into Argentina to get the black market rate, or the blue dollar rate. If you want to buy a house, that is quite a truckload that you have to bring in.

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Ive lived here for 5 years now. When the blue was nothing compared to what it is now. There is no real standard way of transfrring usd here. It all depends where you live. You have to do some looking in thd area you want to move to. Be sure to get all the facts before having some local do the wire. They get greedy when thdy learn of a large amount. My suggestion is to buy a home (if that is what you are asking) from someone who has a usa or canadian account, preferably a foreigner. Transactions within N America from bank to bank are still pretty easy. Getting a local guy to transfer a large amount is a little risky or at best you get hit with a pretty good % loss. Buying from a foreigner is less risky too. They tend to be more honest in the sale.

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If your travel habits take you from the US to Argentina often, best to bring lots of blue with you, trade it on the streets for pesos and put the pesos in Argentinian banks. Bank to bank wires will convert your USD to Pesos at the bank rate. It is a chore to bring the blue to Argentina, but it is worth it.

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Thats a lot of trips if someone is buying a home in Argentina. Property
prices have not gone down all that much. That is why i suggest buying a
property from a foreigner. The exchange is not done in Argentina. I know
that limits property listings but its the easiest and quickest way to do it.

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Having lived in Mendoza and San Rafael for 5 years I would try and take advantage of the Blue Rate spread which is about AR 9.3 pesos "Official" v. AR 16 pesos Blue Rate. That's a huge margin of about 60% when you are negotiating for an Argentine home in pesos.

Personally, I would not buy a home, not right away, make doubly sure you enjoy the City, the people, the politics. Rent a place for a year and then invest.

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I am a Real Estate in Mendoza, Argentina. Lot of expat are asking about sell and buy properties in Mendoza. The seller want to sell in usd but the buyer ask about Argentinos Pesos.
I have an apartment for sale in the residential área of Mendoza, the owner is an expat and you can pay in usd in Canada Account.
For more information, let me know.

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I, and some friends will be visiting Argentina starting October 10th and looking for real estate, so please send me your contact information. We need to speak to you when we get there. You can e-mail me at panamajames@gmail.com or PM me, whatever works. I love Argentina and now is the time to find some property there. I liked the idea of the wine finca for sale that I heard about recently. Looking forward to the trip.

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I highly recommend Leandro at Mendoza Homes, he has the pulse of Argentina, knows the areas good and bad and can be trusted.

Tom Phelan
La Vida Buena Vineyards

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Hey Tom is Leandro good at finding buyers y selling homes? Because i am selling mine. Im in San Rafael. 3 htr property with 2 br home, garage, guesthouse with pond, greenhouse, rootcellar y big garden. The rest is trees and blanco ready for planting....

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A word of caution, xoom is known to have stolen money. Im not talking about 2-5% extra taken, im talking ALL of the cash that was transfered vanished. Type in a search xoom complaints. There are thousands. My friend lost 2000 usd using them.

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Adam,

Didn't I meet you a year or two ago when we visited with Stewart, Peter and myself? I remember your pond.

Yes, Leandro could list your house but I have found that few if any real estate agents who live in Mendoza will ever make the trip to San Rafael to show a property.

Drop him an email and see if he would be interested.

What are you going to do after you sell your house?

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Hi Tom, ya its me. I did not realize that was you. Good to hear from you! So how are you doing?

Well i think you are correct, they probably will not come out this far. Its hard enough to motivate these people as it is, let alone a 2+ hrs drive for a sale.

The first answer is IF i sell my house. Nothing is sellilling. Sad to say, I lost too much here and with the 250-600% inflation in just two years im running out of cash. I really do not know where to move to just yet. Any suggestions? . Since things are not moving i suppose i have time to look around.

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Thank you Tomp... My recomendation is do a valuation of your property, is the farm, house in the city or where is located in San Rafael, with this information we could know is good in the market.
For more information, contact me.
mendozahomes@gmail.com

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Leandro,

My friend's house has some acreage as well and is in Rama Caida (rural).

Can you recommend someone in San Rafael who is qualified to render a "Valuation" of the property?

Thanks,

Tom

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Thanks Tom i truly appreciate the help. I will send him some photos y info. Take care!

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With all due respect, try to enter US$500,000 into USA or Canada and let me know if you can do it without paying any fees or, if it comes in a different currency, the change will apply with the official market or any illegal one?

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You can bring all the cash you want into Argentina....if it is over $10,000 US you should declare it, otherwise if you were stopped and searched, you would be subject to having it confiscated. What is the likelihood of being stopped and searched. About 1% or less...but it is a possibility. What happens when you declare it? You don't lose any of it, you just have to provide some basic information for the computer program (that many customs/aduana people know nothing about), such as your name, source of funds, purpose of funds, etc. If you have reasonable answers to these basic questions, that's all that happens. Of course if you try to give false or phony answers you will have a more difficult time. It is the same process when bringing more than $10K into the US. I have followed the declaration processes (both Argentine and US) in the past with NO problems at all...except the very real possibility that someone might try to rob me.

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