Maximum US Dollars Brought In -- Per Person or Per Family?

I understand the maximum cash able to be brought in without declaring it to customs is $10,000 USD.

1. Is that correct?
2. Is that per person (i.e., per adult) or per family?


Thanks in advance,

dc

Hello DC-- You are correct, the maximum allowed to bring in is indeed USD 10,000 - please note that you are allowed to carry more, only you must declare any amount in excess of USD10,000 or you will be subject to fines/potential confiscation/etc. if you fail to do so and are caught.

I understand that this 10,000 limit is per person... although when you travel as a family the same limit will apply. However, if you wish to bring in more and can solve this with the 20K maximum, I suggest you and your spouse each fill in customs forms separatetly and just line up in separate cues... this will give you both the 10K limit.

Gaucho I will defer to your statement, guess I was told the incorrect amount

That is for US Customs but my understanding is a limit of $5,000 USD per person for entering Argentina. A major problem can be if an agent finds the money during a rare inspection of your bags then he might not steal it outright but they may indeed telephone a "friend" to let them know of your arrival. I have been "told" of people who have brought in substantial sums of money sewn into their clothing...illegal and dangerous if you are caught.

Sam

Thank you both for the quick replies.

Sam... you were indeed given the wrong amount. Please see link below to the AFIP (Argentine IRS) resolution where the 10K amount is mentioned.

http://www.inmueblesynegocios.com/le....asp?idley=164

The limit of US$5000 applies if the traveler is under the age of 16.

The Argentine customs declaration form definitely lists US$10,000 as the maximum amount that can be brought into Argentina undeclared.

The strategy of having a spouse etc. fill out a separate customs form also applies to the US$300 limit of new items that are allowed into the country (excluding used personal property). If you're bringing in gifts or new items (e.g. in their original packing), make sure you have receipts to prove their worth.

Customs searches for both citizens and non-citizens are quite usual. I get searched maybe 30% of the time - only once was a bribe solicited from me ... but be prepared to argue for your rights. The customs forms are written in both English and Spanish. Unlike the US, the customs agents don't have access to your previous travel into Argentina.

The items that will get the most attention are high end electronic items and cameras (obvious items in the X-ray screening, and with a potentially very high resale value in Argentina). One of my friends from the US had a HD-video camera impounded by customs (which would have been returned to him when he left the country). So he bought a refundable ticket EZE-MVD a few days later, returned to EZE, collected his camera and went back to his apartment in BsAs, then refunded his ticket.

John

John

Is that a baggage search or a personal search John?

Only a baggage search. I've never been personally searched. I always have receipts handy too, but usually I just tell the agents that I have less than the allowance, and that I have receipts as proof. They are usually satisfied and let me proceed, since I can quote the applicable law.

Lately, when the customs screening has been inundated during the morning arrivals bank, the agents seem to be more interested in Argentine citizens, so it's not unusual to get waved through if you have a US passport.

John

Eviltwin -

If you're bringing cash into the country for a real estate purchase, you will have trouble with AFIP (Administración Federal de Ingresos Públicos) if you need to sell your property if you can't account for it coming into Argentina

John

And then the assumption is that you earned the money in Argentina and didn't pay tax on it.

And/Or that you brought in the $$$ using an informal channel and are thereby breaking the various Central Bank regulations which add on additional fines & costs to the whole thing... etc. etc.

If you are closing on a real estate purchase... its SUPER important that you get proper advice on how you will not only close on the actual purchase, but on how you will work out the "financial engineering" of the payment of the transaction.

There are various additional costs to purchasing real estate in Argentina that many foreigners are unaware of (and/or just dont take into account when doing the numbers).... one of the most overlooked costs is that when you bring in money through the proper channels and doing things according to the law, you will be forced to convert your foreign currency into Pesos, even if you want your money to be deposited into your account as US Dollars (which you will do in 99% of all cases as transactions are cleared in Dollars). Considering this currency sway back & forth, you incur in considerable costs.... which can be up to 4-5% if you dont have a good relation with your local banker and get converted at retail rates of exchange. The devil is in the details.... watch out!!!

There's an excellent summary of buying and selling real estate in Argentina on Mike Koh's web site www.apartmentsba.com (look under the Argentina Real Estate Consulting & Property Management tab).

John

I can confirm that.

The only time we had a problem was when my wife went before me at the scanning belt and they asked her to open a case up. We had brought a bag of daffodil bulbs from the UK and they confiscated them.
All the other times I have gone first and let it be known I was from the UK - (act stupid when I was asked something in Spanish) and we have just been let through without a problem.

I always give my best Bambi caught in the headlights look. Y no hablo castellano.

I remember having to explain why I had a TV remote control, but no TV (they were sure I was lying...)

John

John... I was about to quote the above link in my post as I agree with you that Michael Koh is a great resource to help in the closing of a real estate transaction.... he actually has a full service inmobiliaria set up as far as I understand it. Mike is a great guy and has a very well earned excellent reputation in doing business here.