Originally Posted by
Eastbay1K
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!!!