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sandra_cdp

Hi all

I'm trying to help a cousin that wants to go back to Argentina, after 40 years of living in Canada. He is 70 years old and currently is only with his mother, of 90.

He has some savings after these 40 years of working in Canada, but he and his family (including me) are trying to see how he can take his money to Argentina. Maybe to buy a house, for example.

We know that he can bring any money to Argentina, and if it's more than 10,000 dls, you need to declare it. But does anyone know how to bring, let's say 100,000 dls legally? We are all trying to find a way that we can bring his money and lose as less as possible...

Do you know what are the options? or... do you know any buffet or any organization that he can reach out to for this?

Any help will be much appreciated!


Thanks!


Sandra

OsageArcher

One big problem even if you can bring USD in to Argentina, is that the official government rate will short-change you compared to what the USD is worth on the free market (often called the black market) , the "blue" rate.  The political climate in Argentina is such that inflation is destroying purchasing power more with each day.


You will have to do the research yourself - with that much money you are a target for scammers.


Do some internet searches for

argentina blue rate

bring USD into argentina

argentina buy home with USD   

sandra_cdp

Thanks!

Yes... I know about the big issues with inflation these days... terrible.

Will do a search, but was trying to see if anyone had a similar situation and what s/he did.

Thanks!

elpostizo


I don't know about Canada, but it would be wise to contact a bank specialist at a bank in both countries because there may be many complications in taking money out of Canada to Argentina. When I say a bank specialist, I do not mean a banker who says they are good to help you because only a very limited number of bankers actually have the expertise to help you, and those are likely in Major cities. Another way to do this would be to set up your funds with a Canadian bank that sends you a monthly check instead of trying to transfer all of your money out of Canada. That way, you get your money monthly, but most of your funds remain in Canada until they are dispersed to you every month as needed. Banks are also likely more stable in Canada than in Argentina, meaning your money is more secure there anyway.


I would recommend a group like [link moderated].  They could probably connect you with the right people, including an attorney, if necessary. Also, beware that there is probably an exit tax if you transfer your money to another country. If you plan to buy a property, the custom is usually to pay in American $. This would suggest that you should probably deal with a real estate company that exists in both countries since they could probably offer some advice on minimizing your expenses and how to make a purchase. Real estate in Argentina is usually paid for in Cash on the day of the sale. Mortgages are very unusual. International moving companies could also offer some advice on how to minimize expenses when you bring your belongings so as to minimize expenses and trouble going through the aduana (customs) in Argentina. You might also need to check how best to get a car if you feel you need one, as that can be very complicated. You might want to consider an adjacent country like Uruguay that is nearby but less restrictive on the Importation of cars and vehicles. Once in Uraguay, you could probably move to Argentina later if you still wanted to, and it would be less trouble.


Casadecabrel

@elpostizo,

how do You feel about Crypto currency?

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