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Last days: How to buy a used or new apartment for more than US$100,000 with laundered money and without paying a fine - La Nacion Propiedades
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October 16, 2024
Last days: How to buy a used or new apartment for more than US$100,000 with laundered money and without paying a fine
There is a way in which a property can be purchased with the declared dollars without the AFIP retaining taxes
By Candle Contreras
It is possible to invest in the real estate market with laundered money and without paying taxes Shutterstock
Just a few days before the end of the first stage of the Asset Regulation Regime , better known as money laundering, in which those who want to declare cash that until now “was under the mattress” can do so without paying any tax if the amount is up to US$100,000. If it is a higher amount, they must pay a 5% rate. The closing date of the first stage is October 31, depositing it in a Special Asset Regulation Account (CERA).
For those with larger sums , a viable option is to invest the money in one of the investments authorized by the Ministry of Economy , such as, for example, in properties under construction that are registered in the Registry of Real Estate Projects (REPI) of AFIP and have up to 50% progress of work , which exempts them from paying taxes in the money laundering process.
But also, this benefit provided by the Federal Public Revenue Administration (AFIP) allows the regularization of other types of assets (in addition to cash, which can only be entered until October 31) that are outside the financial system: if it is up to US$100,000, no type of tax is paid and if larger amounts are laundered, rates are paid depending on when they enter the system: 5% until October 31 ; 10% until January 31, 2025 ; 15% until April 30, 2025.
“The outlook for the money laundering process is very good . Developers are receiving a large number of enquiries. We believe that this money laundering process will have a positive impact on the sector in the medium term ,” said Mali Vázquez, executive director of the Chamber of Urban Developers (CEDU).
The possibility of regularizing cash is particularly beneficial for investors who opt for the real estate market , since properties are not only a safe investment, but also an opportunity to preserve and multiply capital . And, for this, there is the option of buying used, brand new or unfinished properties with more than 50% of the work completed that cost more than US$100,000 but without paying any penalty . But how is this possible?
Investing in real estate is always a safe option to preserve capitalShutterstock
The answer is quite simple: transfer from one CERA account to another CERA account , since as long as the laundered money remains within the financial system until December 2025 or is used for any of the placements authorized by the Ministry of Economy, no tax is paid .
“A possible situation is that a person wants to sell a property (which is worth more than US$100,000) and invest the money from the transaction in shares, for example. Then they accept that a person who laundered cash transfers the funds to their CERA account and neither of them pays the laundering rates,” explains Sebastián Domínguez, accountant and CEO of SDC Tax Advisors.
This option is contemplated within the regulations and there are already developers with projects that are more than 50% complete that are accepting it , since their projects do not fall within the options authorized by the Ministry of Economy. “ This can become a wheel that goes on and on if everyone starts doing it . Because that developer can have an arrangement with the company from which he buys cement, for example, that also accepts a transfer to a CERA account or uses it to invest in another project,” adds the tax specialist.
“Another case could be that a person decides to buy a brand new apartment from another person and the seller uses the money to buy a property in a condominium with less than 50% of the work completed and registered in the REPI, invest in one of the placements authorized by the Ministry of Economy, or can follow the cycle and transfer to another person in his CERA account for some purchase, such as another property,” adds Domínguez.
There are many possible examples, but the important thing is to know what the CERA account generates : that until the end of 2025 , as long as the money remains there, no type of tax is paid regardless of the amount . Therefore, as long as the money circulates within the accounts, the payment of rates is avoided . It is important to remember that cash can only be laundered within the first stage, that is, until October 31 of this year.
As long as the laundered money remains within the financial system or is used to invest in, for example, greenfield projects, no taxes are paid.
Another option is to keep the money in the financial system until December 2025. “Leaving the money in the account without moving it is not the best alternative, because, for example, property prices are expected to rise due to high demand (due to mortgage loans, a square meter value below the historical minimum and the option of buying with laundered money),” says Domínguez.
Leaving money idle is therefore not advisable because it can end up losing value due to inflation . “In any case, it must be invested in some instrument that generates some type of return, such as mutual funds, government securities, stocks or bonds,” concludes the accountant.
2) Deposit the money into the CERA account
3) Transfer the laundered funds in the CERA account directly to the seller's CERA account
As for the CERA account, the accountant explains that there is no requirement to open it “although there are banks that say that it is not possible without the declaration of adherence to money laundering. The person can decide to open it without laundering and that its only objective is to receive money from another account ”. In addition, it is key to clarify that there is no specific deadline to do so .
“There may be cases in which a person decides to buy an apartment and the seller does not have an open account. But he ends up accepting and just by carrying out the transaction the CERA is opened,” concludes Domínguez.
www.buysellba.com
Source:
Últimos días: cómo comprar un departamento usado o nuevo por más de US$100.000 con dinero blanqueado y sin pagar multa
Existe una forma en la que se puede comprar una propiedad con los dólares declarados sin que la AFIP retenga alícuotas
www.lanacion.com.ar
October 16, 2024
Last days: How to buy a used or new apartment for more than US$100,000 with laundered money and without paying a fine
There is a way in which a property can be purchased with the declared dollars without the AFIP retaining taxes
By Candle Contreras
It is possible to invest in the real estate market with laundered money and without paying taxes Shutterstock
Just a few days before the end of the first stage of the Asset Regulation Regime , better known as money laundering, in which those who want to declare cash that until now “was under the mattress” can do so without paying any tax if the amount is up to US$100,000. If it is a higher amount, they must pay a 5% rate. The closing date of the first stage is October 31, depositing it in a Special Asset Regulation Account (CERA).
For those with larger sums , a viable option is to invest the money in one of the investments authorized by the Ministry of Economy , such as, for example, in properties under construction that are registered in the Registry of Real Estate Projects (REPI) of AFIP and have up to 50% progress of work , which exempts them from paying taxes in the money laundering process.
But also, this benefit provided by the Federal Public Revenue Administration (AFIP) allows the regularization of other types of assets (in addition to cash, which can only be entered until October 31) that are outside the financial system: if it is up to US$100,000, no type of tax is paid and if larger amounts are laundered, rates are paid depending on when they enter the system: 5% until October 31 ; 10% until January 31, 2025 ; 15% until April 30, 2025.
“The outlook for the money laundering process is very good . Developers are receiving a large number of enquiries. We believe that this money laundering process will have a positive impact on the sector in the medium term ,” said Mali Vázquez, executive director of the Chamber of Urban Developers (CEDU).
The possibility of regularizing cash is particularly beneficial for investors who opt for the real estate market , since properties are not only a safe investment, but also an opportunity to preserve and multiply capital . And, for this, there is the option of buying used, brand new or unfinished properties with more than 50% of the work completed that cost more than US$100,000 but without paying any penalty . But how is this possible?
Investing in real estate is always a safe option to preserve capitalShutterstock
The answer is quite simple: transfer from one CERA account to another CERA account , since as long as the laundered money remains within the financial system until December 2025 or is used for any of the placements authorized by the Ministry of Economy, no tax is paid .
“A possible situation is that a person wants to sell a property (which is worth more than US$100,000) and invest the money from the transaction in shares, for example. Then they accept that a person who laundered cash transfers the funds to their CERA account and neither of them pays the laundering rates,” explains Sebastián Domínguez, accountant and CEO of SDC Tax Advisors.
This option is contemplated within the regulations and there are already developers with projects that are more than 50% complete that are accepting it , since their projects do not fall within the options authorized by the Ministry of Economy. “ This can become a wheel that goes on and on if everyone starts doing it . Because that developer can have an arrangement with the company from which he buys cement, for example, that also accepts a transfer to a CERA account or uses it to invest in another project,” adds the tax specialist.
“Another case could be that a person decides to buy a brand new apartment from another person and the seller uses the money to buy a property in a condominium with less than 50% of the work completed and registered in the REPI, invest in one of the placements authorized by the Ministry of Economy, or can follow the cycle and transfer to another person in his CERA account for some purchase, such as another property,” adds Domínguez.
There are many possible examples, but the important thing is to know what the CERA account generates : that until the end of 2025 , as long as the money remains there, no type of tax is paid regardless of the amount . Therefore, as long as the money circulates within the accounts, the payment of rates is avoided . It is important to remember that cash can only be laundered within the first stage, that is, until October 31 of this year.
As long as the laundered money remains within the financial system or is used to invest in, for example, greenfield projects, no taxes are paid.
Another option is to keep the money in the financial system until December 2025. “Leaving the money in the account without moving it is not the best alternative, because, for example, property prices are expected to rise due to high demand (due to mortgage loans, a square meter value below the historical minimum and the option of buying with laundered money),” says Domínguez.
Leaving money idle is therefore not advisable because it can end up losing value due to inflation . “In any case, it must be invested in some instrument that generates some type of return, such as mutual funds, government securities, stocks or bonds,” concludes the accountant.
Steps to follow to buy properties with laundered money without paying the penalty
1) Open the CERA account in an Argentine bank. The process is online and takes up to 24 business hours.2) Deposit the money into the CERA account
3) Transfer the laundered funds in the CERA account directly to the seller's CERA account
As for the CERA account, the accountant explains that there is no requirement to open it “although there are banks that say that it is not possible without the declaration of adherence to money laundering. The person can decide to open it without laundering and that its only objective is to receive money from another account ”. In addition, it is key to clarify that there is no specific deadline to do so .
“There may be cases in which a person decides to buy an apartment and the seller does not have an open account. But he ends up accepting and just by carrying out the transaction the CERA is opened,” concludes Domínguez.
www.buysellba.com
