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Buying a property in a money laundering situation: everything you need to know - Infobae
Source:
www.infobae.com
September 19, 2024
There are expectations among construction companies and developers. What recommendations should be followed and what are the steps to allocate undeclared savings to this type of investment?
By Jose Luis Cieri
There are expectations among construction companies and developers. What recommendations should be followed and what are the steps to allocate undeclared savings to this type of investment?
By Jose Luis Cieri
The segment is confident that the Whitewashing will allow for the dynamization of operations and the creation of private employment.
The new money laundering scheme allows the purchase of houses, especially those that are in a state of disrepair. This fiscal tool offers a variety of options throughout the country and in companies in the sector. Thus, demand grew by 20% in just a few weeks .
Investing in projects under construction offers lower prices than in finished properties, providing a great opportunity for appreciation, according to the real estate market. If the regularized funds remain in the financial system until December 31, 2025, there will be no fines or caps, and they can be used for new projects with less than 50% progress as of July 8, 2024.
Sebastian Sosa , president of RE/MAX Argentina & Uruguay, told Infobae that the main benefit of this method is that the cost of laundering cash is 0%, in a fiscal context where taxes can rise to 40% or 50%; this option allows investing in properties with an estimated annual return of between 12% and 18%.
When investing in a real estate project, it is essential to have references about who is developing it, what their experience is and how many projects they have completed and are in progress.
“It is also important to know the legal vehicle through which the project is carried out, including the purchase of the land and its formalization, which is generally done through a certified ticket or a trust. Consulting with a specialized team that reviews these aspects is key to guaranteeing a safe investment,” Sosa explained.
The main benefit of money laundering is to increase investment, protect savings, stimulate the market and increase capital with the revaluation of the square meter.
Walter Fuks , from developer Ecipsa, said that when looking to invest in real estate, it is essential to carefully select the project location and analyze market trends.
“We carefully select the location of our projects. We consider it a fundamental factor when making an investment. Mil Aires, in Villa Devoto, was conceived from the very beginning as a project that puts the well-being and quality of life of its residents at its centre. From the beginning until today, the value of m2 has increased by 75%,” said Fuks.
Investments in developments can be made directly or through third parties, using various legal forms such as sales contracts, deeds of transfer of ownership, or contributions to trusts.
Mil Aires, along with thousands of developments, is suitable for money laundering. It is just a few steps from Avenida General Paz.
Matías Szpira , from Matías Szpira Bienes Raíces, stressed that the security of these investments lies in the support of the developer or builder, who incorporate the land into their assets, providing a tangible guarantee to the project. “It is crucial to verify that the land is contributed to the trust, which ensures transparency and solidity,” he said.
Once deposited, the funds can be used for projects that are less than 50% complete or for properties already built, without additional taxes. However, they cannot be used for undeveloped land or investments outside the real estate sector, except for specific exceptions in the regime.
Szpira also stressed the importance of these aspects when considering an investment: “Using a special account for transfers ensures that everything is recorded and transparent, which is vital to protect the investor’s interests and maintain a clear legal framework.”
Each of the projects must comply with all AFIP requirements and be registered in the Real Estate Projects Registry (REPI) for investments in new construction or with a degree of progress of up to 50 percent. The process to buy homes under construction through money laundering requires being an Argentine tax resident as of December 31, 2023 or reacquiring residency starting this year.
Starting in January 2024, income tax will be payable on income earned in the country and abroad. Public officials of the last ten years, their relatives and companies in which they have participation or control are excluded.
A development on Avenida Cabildo in the Belgrano neighborhood. This money laundering is an opportunity to transform undeclared money into productive funds at no cost.
Steps to buy homes under construction:
Fuks commented: “We offer tailor-made proposals with payment options during construction and even after delivery. In the final stage, there is financing for up to 48 months, with a value per m2 from USD 2,900 for units of studio to 3 bedrooms.”
The sector points out that it is a good time to invest in money laundering, especially in the medium or long term, due to its high profitability potential.
“Delivery times for homes are usually around 24 months, and are subject to cash flow, availability of materials and coordination with trade unions,” Szpira concluded.
www.buysellba.com
Source:
Comprar una propiedad en pozo con el blanqueo de capitales: todo lo que hay que saber
Hay expectativas entre constructoras y desarrolladoras. Qué recomendaciones deben seguirse y cuáles son los pasos para destinar ahorros sin declarar a este tipo de inversiones
www.infobae.com
September 19, 2024
There are expectations among construction companies and developers. What recommendations should be followed and what are the steps to allocate undeclared savings to this type of investment?
By Jose Luis Cieri
There are expectations among construction companies and developers. What recommendations should be followed and what are the steps to allocate undeclared savings to this type of investment?
By Jose Luis Cieri
The segment is confident that the Whitewashing will allow for the dynamization of operations and the creation of private employment.
The new money laundering scheme allows the purchase of houses, especially those that are in a state of disrepair. This fiscal tool offers a variety of options throughout the country and in companies in the sector. Thus, demand grew by 20% in just a few weeks .
Investing in projects under construction offers lower prices than in finished properties, providing a great opportunity for appreciation, according to the real estate market. If the regularized funds remain in the financial system until December 31, 2025, there will be no fines or caps, and they can be used for new projects with less than 50% progress as of July 8, 2024.
Advantages
What are the key steps and tips for whitening funds in units under construction or about to be started?Sebastian Sosa , president of RE/MAX Argentina & Uruguay, told Infobae that the main benefit of this method is that the cost of laundering cash is 0%, in a fiscal context where taxes can rise to 40% or 50%; this option allows investing in properties with an estimated annual return of between 12% and 18%.
When investing in a real estate project, it is essential to have references about who is developing it, what their experience is and how many projects they have completed and are in progress.
“It is also important to know the legal vehicle through which the project is carried out, including the purchase of the land and its formalization, which is generally done through a certified ticket or a trust. Consulting with a specialized team that reviews these aspects is key to guaranteeing a safe investment,” Sosa explained.
The main benefit of money laundering is to increase investment, protect savings, stimulate the market and increase capital with the revaluation of the square meter.
Walter Fuks , from developer Ecipsa, said that when looking to invest in real estate, it is essential to carefully select the project location and analyze market trends.
“We carefully select the location of our projects. We consider it a fundamental factor when making an investment. Mil Aires, in Villa Devoto, was conceived from the very beginning as a project that puts the well-being and quality of life of its residents at its centre. From the beginning until today, the value of m2 has increased by 75%,” said Fuks.
Investments in developments can be made directly or through third parties, using various legal forms such as sales contracts, deeds of transfer of ownership, or contributions to trusts.
Mil Aires, along with thousands of developments, is suitable for money laundering. It is just a few steps from Avenida General Paz.
Matías Szpira , from Matías Szpira Bienes Raíces, stressed that the security of these investments lies in the support of the developer or builder, who incorporate the land into their assets, providing a tangible guarantee to the project. “It is crucial to verify that the land is contributed to the trust, which ensures transparency and solidity,” he said.
Payments and how it works
Steps to take advantage of buying homes through money laundering include opening a Special Account for Asset Regularization (CERA) to deposit the funds. Typically, more than USD 100,000 is deposited in the purchase of units in the pit.Once deposited, the funds can be used for projects that are less than 50% complete or for properties already built, without additional taxes. However, they cannot be used for undeveloped land or investments outside the real estate sector, except for specific exceptions in the regime.
Szpira also stressed the importance of these aspects when considering an investment: “Using a special account for transfers ensures that everything is recorded and transparent, which is vital to protect the investor’s interests and maintain a clear legal framework.”
Each of the projects must comply with all AFIP requirements and be registered in the Real Estate Projects Registry (REPI) for investments in new construction or with a degree of progress of up to 50 percent. The process to buy homes under construction through money laundering requires being an Argentine tax resident as of December 31, 2023 or reacquiring residency starting this year.
Starting in January 2024, income tax will be payable on income earned in the country and abroad. Public officials of the last ten years, their relatives and companies in which they have participation or control are excluded.
A development on Avenida Cabildo in the Belgrano neighborhood. This money laundering is an opportunity to transform undeclared money into productive funds at no cost.
Steps to buy homes under construction:
- Open a special account to deposit the money to be laundered.
- Sign the purchase receipt with a project registered as “suitable for money laundering.”
- Transfer funds to the developer's account.
- The project must be registered with the AFIP with certification that the work is less than 50% complete.
Market
The value of a property in a current well will depend mainly on the area, where the land has a great impact, and the quality of the materials. “The price of a property in a current well depends on the area and the quality of the materials. We can establish average alternatives of USD 1,800 per m2 up to USD 2,500-3,000 per m2 in premium projects,” explained Sosa.Fuks commented: “We offer tailor-made proposals with payment options during construction and even after delivery. In the final stage, there is financing for up to 48 months, with a value per m2 from USD 2,900 for units of studio to 3 bedrooms.”
The sector points out that it is a good time to invest in money laundering, especially in the medium or long term, due to its high profitability potential.
“Delivery times for homes are usually around 24 months, and are subject to cash flow, availability of materials and coordination with trade unions,” Szpira concluded.
www.buysellba.com
