Positive Changes for Real Estate investors in Argentina and also non-resident foreigner investors with Milei's Omnibus law

[earlyretirement]

A couple of questions about the proposal. 1) Anybody who invested prior to the proposal, would that carry over to if and when a GV program realizes. And maybe details to be worked out, but is there a time limit if so? IE somebody who invested 10-20 years prior vs 1-2 years, would the amount of previous investments be counted towards the proposed amount required. and 2) With regards to the bolded, is that something that can truly be enforced or written in a way to truly be permanent? I would think that if the the terms changes in the future with another administration, those that applied and met the qualifications but not fully completed would still be accepted, but even still I think I'd probably have concerns much more so if planning further than the immediate future.

Hi @FuturoBA,

Keep in mind none of this is anything the government has agreed to. These are just things that I have recommended to President Milei and his administration. However, eliminating the requirement to get a permit to sell as a foreigner was also recommended by me and my firm. We were the largest buyers of residential real estate in Buenos Aires over the past 2 decades.

To answer your questions, no we are advising the Golden Visa on NEW purchases made only since Javier Milei has been elected. Or possibly within the past 12 months. The intent of this would be to give an incentive to new investors that are investing in Argentina because they believe in President Milei's administration. I would recommend doing it in a way where everything is expedited. I wouldn't recommend to keep it open ended over a long period of time but mostly to spur investments during President Milei's first 4 years in office.

Obviously another administration could come along and change laws but once someone is granted permanent residency or Passport I doubt anyone can easily revoke that. I'm sure you could craft legislation around it so the investor wouldn't have any issues. It's been very successful in other countries around the world so I'm confident that it could also successfully be done in Argentina.

Obviously, there are no guarantees but very few things in life are guaranteed and governments around the world are always changing the rules but I wouldn't be worried if it was crafted correctly from the start. I was very happy to see President Milei very quickly eliminating the transfer tax but especially getting rid of the requirement for non-resident foreigners to get a permit to sell. It's a great first step.

A golden Visa is a no brainer for Argentina. Up for discussion would be the amount needed that is required to invest. I believe it should be a high enough amount. Not as high as Portugal at $500,000 USD but possibly $250,000 which is significant. I believe the possibilities exist to build various retirement communities all over Argentina. Maybe the amount could be reduced if there was some type of retirement community and in these cases, maybe the property prices would be far lower than $250,000. Especially outside of CABA. In these cases, I believe it would be wise to reduce the amount. These communities would spur the development of supermarkets, restaurants, cafes, stores, etc. A tremendous amount of economic activity would be realized.

It would be a tremendous win/win for everyone. There is really no downside at all for establishing a program like this. Argentina is already allowing so many poor people from Mercosur countries for free and only taking from Argentina and not giving. The people bringing money and coming to Argentina would be bringing so much and contributing to Argentina.

 

[Betsy Ross]

Hi @FuturoBA,

Keep in mind none of this is anything the government has agreed to. These are just things that I have recommended to President Milei and his administration. However, eliminating the requirement to get a permit to sell as a foreigner was also recommended by me and my firm. We were the largest buyers of residential real estate in Buenos Aires over the past 2 decades.

To answer your questions, no we are advising the Golden Visa on NEW purchases made only since Javier Milei has been elected. Or possibly within the past 12 months. The intent of this would be to give an incentive to new investors that are investing in Argentina because they believe in President Milei's administration. I would recommend doing it in a way where everything is expedited. I wouldn't recommend to keep it open ended over a long period of time but mostly to spur investments during President Milei's first 4 years in office.

Obviously another administration could come along and change laws but once someone is granted permanent residency or Passport I doubt anyone can easily revoke that. I'm sure you could craft legislation around it so the investor wouldn't have any issues. It's been very successful in other countries around the world so I'm confident that it could also successfully be done in Argentina.

Obviously, there are no guarantees but very few things in life are guaranteed and governments around the world are always changing the rules but I wouldn't be worried if it was crafted correctly from the start. I was very happy to see President Milei very quickly eliminating the transfer tax but especially getting rid of the requirement for non-resident foreigners to get a permit to sell. It's a great first step.

A golden Visa is a no brainer for Argentina. Up for discussion would be the amount needed that is required to invest. I believe it should be a high enough amount. Not as high as Portugal at $500,000 USD but possibly $250,000 which is significant. I believe the possibilities exist to build various retirement communities all over Argentina. Maybe the amount could be reduced if there was some type of retirement community and in these cases, maybe the property prices would be far lower than $250,000. Especially outside of CABA. In these cases, I believe it would be wise to reduce the amount. These communities would spur the development of supermarkets, restaurants, cafes, stores, etc. A tremendous amount of economic activity would be realized.

It would be a tremendous win/win for everyone. There is really no downside at all for establishing a program like this. Argentina is already allowing so many poor people from Mercosur countries for free and only taking from Argentina and not giving. The people bringing money and coming to Argentina would be bringing so much and contributing to Argentina.

This is actually a great idea. Honestly, it's not too difficult to get permanent residency here. You do have to renew the DNI a few times to get permanent residency but it's easy enough to pay a lawyer a few thousand dollars. Or you could have a child here and probably get Citizenship that way. I doubt many will want to do that or be too old for that option. Not sure I would buy real estate just for a passport.

 

[earlyretirement]

This is actually a great idea. Honestly, it's not too difficult to get permanent residency here. You do have to renew the DNI a few times to get permanent residency but it's easy enough to pay a lawyer a few thousand dollars. Or you could have a child here and probably get Citizenship that way. I doubt many will want to do that or be too old for that option. Not sure I would buy real estate just for a passport.

Absolutely I agree with you @Betsy Ross that one could get residency in Argentina without investing in Argentina. And permanent residency after several years. What I'm discussing probably wouldn't make sense for people that just want another passport. There are easier methods. However, a Golden Visa for Argentina would probably be more applicable for people that believe in the long term prospects for Argentina, believe in a fundamental turn around, believe things are at the bottom or close to it and also savvy investors that invest in real estate around the world.

The Golden Visa in Argentina would just give them another big reason to buy right now and also would make sense on the timing. It would bring in billions of dollars at a time when Argentina really needs it and would be a stamp of approval for President Milei. But it is important to change certain things and lining up things properly which President Milei is doing right now in the right steps. No doubt, Argentina has a lot of problems but I saw the same opportunities after the corralito. Everyone told me 22 years ago it was crazy to invest in Argentina. I ignored that because I saw the potential.

Areas like Palermo Soho and Hollywood weren't anything back then. Nothing really there. I pointed out how and why they would grow and it happened. I see the same type of potential now with this Golden Visa program. It just needs to all be thought out and planned. But I believe that people that believe in the long term vision and potential of Argentina will be rewarded. The type of people it would attract to become Citizens would be the ideal candidates and no one can argue against that logical thinking, especially when they are already allowing all of Mercosur to come and become Citizens here.

It would totally be a missed opportunity not to do this.

Here is an old interview from a UK magazine that I did an interview for at the end of 2005 predicting what Soho and Hollywood would turn into.

Property Investor News Magazine - UK

By Mark Hempshell

buysellba.com

 

[FuturoBA]

Hi @FuturoBA,

Keep in mind none of this is anything the government has agreed to. These are just things that I have recommended to President Milei and his administration. However, eliminating the requirement to get a permit to sell as a foreigner was also recommended by me and my firm. We were the largest buyers of residential real estate in Buenos Aires over the past 2 decades.

To answer your questions, no we are advising the Golden Visa on NEW purchases made only since Javier Milei has been elected. Or possibly within the past 12 months. The intent of this would be to give an incentive to new investors that are investing in Argentina because they believe in President Milei's administration. I would recommend doing it in a way where everything is expedited. I wouldn't recommend to keep it open ended over a long period of time but mostly to spur investments during President Milei's first 4 years in office.

Obviously another administration could come along and change laws but once someone is granted permanent residency or Passport I doubt anyone can easily revoke that. I'm sure you could craft legislation around it so the investor wouldn't have any issues. It's been very successful in other countries around the world so I'm confident that it could also successfully be done in Argentina.

Obviously, there are no guarantees but very few things in life are guaranteed and governments around the world are always changing the rules but I wouldn't be worried if it was crafted correctly from the start. I was very happy to see President Milei very quickly eliminating the transfer tax but especially getting rid of the requirement for non-resident foreigners to get a permit to sell. It's a great first step.

A golden Visa is a no brainer for Argentina. Up for discussion would be the amount needed that is required to invest. I believe it should be a high enough amount. Not as high as Portugal at $500,000 USD but possibly $250,000 which is significant. I believe the possibilities exist to build various retirement communities all over Argentina. Maybe the amount could be reduced if there was some type of retirement community and in these cases, maybe the property prices would be far lower than $250,000. Especially outside of CABA. In these cases, I believe it would be wise to reduce the amount. These communities would spur the development of supermarkets, restaurants, cafes, stores, etc. A tremendous amount of economic activity would be realized.

It would be a tremendous win/win for everyone. There is really no downside at all for establishing a program like this. Argentina is already allowing so many poor people from Mercosur countries for free and only taking from Argentina and not giving. The people bringing money and coming to Argentina would be bringing so much and contributing to Argentina.

100% agree it's a win/win. Especially with the international press that Argentina and Milei have been receiving I would think he'd want to strike while the iron's hot. There may be reasons for waiting and agree also eliminating transfer tax and permit is a great step. Maybe he wants to clear the hurdles and make the path as clear as possible but I think if he waits too long there's a possibility that some investors are fickle and either move on or chase the next shiny object. But then again maybe those are the investors that shouldn't be investing unless they believe in Argentina for the long haul.

 

[Vince]

This is actually a great idea. Honestly, it's not too difficult to get permanent residency here. You do have to renew the DNI a few times to get permanent residency but it's easy enough to pay a lawyer a few thousand dollars. Or you could have a child here and probably get Citizenship that way. I doubt many will want to do that or be too old for that option. Not sure I would buy real estate just for a passport.

It seems like more and more people are coming to Argentina for Citizenship. Interesting to see many Russians coming here to Buenos Aires to have anchor babies and a few Americans on the forum that moved here just to have kids so they can get Citizenship. It seems like that's the easiest and quickest way to get Citizenship here but an extreme situation and many people aren't going to be in that category. And even that option takes a few years.

Agree with @earlyretirement that Argentina is giving away Citizenship cheap and FREE to people from all over South America with the Mercosur pact. Many of these people cost a fortune with free healthcare, free education and not paying any taxes at all. Doesn't make sense not to do this golden visa. Nothing but upside for these people. My sister is thinking of buying something here. This would definitely tip the scales to do it to get an instant passport here.

I would guess tons of Russians would instantly go for this option.

 

[earlyretirement]

100% agree it's a win/win. Especially with the international press that Argentina and Milei have been receiving I would think he'd want to strike while the iron's hot. There may be reasons for waiting and agree also eliminating transfer tax and permit is a great step. Maybe he wants to clear the hurdles and make the path as clear as possible but I think if he waits too long there's a possibility that some investors are fickle and either move on or chase the next shiny object. But then again maybe those are the investors that shouldn't be investing unless they believe in Argentina for the long haul.

There is a method to President Milei's trips abroad. People can't just chalk it all up to accepting awards. It's a type of marketing where he is laying the initial groundwork. Still lots of issues to solve here but the amount of free publicity he is getting is unprecedented for a President of Argentina. I agree with you @FuturoBA that he shouldn't wait too long. But most likely deep pocketed investors will invest here anyway provided there are changes like you are seeing. Investing in Argentina is NOT for the faint of heart or pikers. The vast majority of investors out there in the world are what I call "pikers" and they won't typically go outside of the USA. That is ok.

Over the past 20+ years I've accurately predicted many events. It's fun to go back and look at some of them. Here is a very old Internet forum that doesn't work anymore but it's still preserved so you can read old posts. It was fun predicting real estate prices would explode here, the real estate market would crash in the USA and why it would happen, the stock market meltdown, when to cover short positions, recommending to invest in the real estate market as it bottomed out. Some people say it's luck. Ha, ha. Other people tell me I can see the future.


Worldwide Economic Trends - http://www.tinyurl.com/sawthefuture2

Real Estate in Argentina - http://www.tinyurl.com/sawthefuture1

 

[Betsy Ross]

There is a method to President Milei's trips abroad. People can't just chalk it all up to accepting awards. It's a type of marketing where he is laying the initial groundwork. Still lots of issues to solve here but the amount of free publicity he is getting is unprecedented for a President of Argentina. I agree with you @FuturoBA that he shouldn't wait too long. But most likely deep pocketed investors will invest here anyway provided there are changes like you are seeing. Investing in Argentina is NOT for the faint of heart or pikers. The vast majority of investors out there in the world are what I call "pikers" and they won't typically go outside of the USA. That is ok.

Over the past 20+ years I've accurately predicted many events. It's fun to go back and look at some of them. Here is a very old Internet forum that doesn't work anymore but it's still preserved so you can read old posts. It was fun predicting real estate prices would explode here, the real estate market would crash in the USA and why it would happen, the stock market meltdown, when to cover short positions, recommending to invest in the real estate market as it bottomed out. Some people say it's luck. Ha, ha. Other people tell me I can see the future.


Worldwide Economic Trends - http://www.tinyurl.com/sawthefuture2

Real Estate in Argentina - http://www.tinyurl.com/sawthefuture1

Funny. I used to read TravelSur. I guess I didn't connect that you were ApartmentsBA.com but it just clicked. Wow, cool. I'm going to read some of those old posts.

 

[Wally]

You could always just get your girlfriend pregnant. I read you are dating a local here. We are having an anchor baby here and will get our passports that way. We don't have enough to buy real estate here but this seems like the easiest way.

I saw this on X today. Many others are doing the same thing. Very easy.

https://twitter.com/x/status/1811090277999816828

What strange times we live in when people make blogs and post YouTube channels about going to move to a country to have an anchor baby. Times have sure changed!

 

[Digital Nomad]

What strange times we live in when people make blogs and post YouTube channels about going to move to a country to have an anchor baby. Times have sure changed!

I was thinking the same thing. Is it legal to purposely come to Argentina and plan to have a baby just for citizenship reasons? I would think anyone doing this would want to lie low. We are living in different times now I guess.

 

[Avocado]

I was thinking the same thing. Is it legal to purposely come to Argentina and plan to have a baby just for citizenship reasons? I would think anyone doing this would want to lie low. We are living in different times now I guess.

I agree strange to make a blog about illegally planning to break law and come in on tourism visa and overstay to have a baby here. He isn't even pretend. He post about it ahead of time. The government should kick him out of country. Tourists are welcome but surprising because Americans don't like when people cheat system to do it in USA but it's ok to do in Argentina??

 

[Betsy Ross]

I was thinking the same thing. Is it legal to purposely come to Argentina and plan to have a baby just for citizenship reasons? I would think anyone doing this would want to lie low. We are living in different times now I guess.

I am not sure if it's legal or not. Probably not as there were several pregnant Russian women that were turned away from EZE for that very reason. But Argentina is one of those countries that lets in tons and tons of Venezuelan, Bolivians, Colombians, etc so I am not sure why they would care too much about Americans. I do agree probably not the smartest thing to document that you plan to have an anchor baby. Maybe a better idea to do that after you have the child. But then again these days I don't think people really care. I watched some of his YouTube channel and the videos aren't too good. He rambles on too long. I was watching at 2 X speed and even then they were too slow and long.

 

[Bill]

You could always just get your girlfriend pregnant. I read you are dating a local here. We are having an anchor baby here and will get our passports that way. We don't have enough to buy real estate here but this seems like the easiest way.

I saw this on X today. Many others are doing the same thing. Very easy.

https://twitter.com/x/status/1811090277999816828

This guy doesn't look seem like the sharpest tool in the shed. Not sure what he is talking about working for the government and being a parasite. Some of the best jobs now are for the city, or State or County or federal government. Looks like an ex-cop that probably lost his job or something. I hope he has some dollars stashed away. His YT channel isn't too good.

The funny thing is that he expects that Buenos Aires would be some hick town that wouldn't have anything. He is amazed to have a shopping mall and an electronics store. In this day and age everyone looking for their 15 minutes of fame. Never saw a cop that gave economic advice.

 

[David]

I'm glad to hear they eliminated the need for a foreigner to sell their property without getting a permit. That was an annoying process when selling. Good to hear it is now gone.

 

[Mother Russia Argentina]

Definitely if Argentina did a investment visa to get Passport here, many Russians would take advantage of that. @earlyretirement you have more info on that program? I sent you a direct message. We have many friends that don't want kids but they want to move out of Russia. This would be great option for them. It is not only Russia. Many in Europe want to get out now and try another part of the world. EU is changing very quickly.

 

[Tango]

Looks like from reading all the news that sales volume has really gone up in CABA. I would walk by realtor's office windows this time last year and there were listings but no one was buying. Now if you walk by a realtor window almost all are already reserved or sold. There might be a recession but many locals are buying now.

 

[import export]

Absolutely I agree with you @Betsy Ross that one could get residency in Argentina without investing in Argentina. And permanent residency after several years. What I'm discussing probably wouldn't make sense for people that just want another passport. There are easier methods. However, a Golden Visa for Argentina would probably be more applicable for people that believe in the long term prospects for Argentina, believe in a fundamental turn around, believe things are at the bottom or close to it and also savvy investors that invest in real estate around the world.

The Golden Visa in Argentina would just give them another big reason to buy right now and also would make sense on the timing. It would bring in billions of dollars at a time when Argentina really needs it and would be a stamp of approval for President Milei. But it is important to change certain things and lining up things properly which President Milei is doing right now in the right steps. No doubt, Argentina has a lot of problems but I saw the same opportunities after the corralito. Everyone told me 22 years ago it was crazy to invest in Argentina. I ignored that because I saw the potential.

Areas like Palermo Soho and Hollywood weren't anything back then. Nothing really there. I pointed out how and why they would grow and it happened. I see the same type of potential now with this Golden Visa program. It just needs to all be thought out and planned. But I believe that people that believe in the long term vision and potential of Argentina will be rewarded. The type of people it would attract to become Citizens would be the ideal candidates and no one can argue against that logical thinking, especially when they are already allowing all of Mercosur to come and become Citizens here.

It would totally be a missed opportunity not to do this.

Here is an old interview from a UK magazine that I did an interview for at the end of 2005 predicting what Soho and Hollywood would turn into.

Property Investor News Magazine - UK

By Mark Hempshell

buysellba.com

That was a great call @earlyretirement on Palermo Soho and Hollywood. I remember when there was nothing in that area at all. How it has changed tremendously. I've been going to Argentina for decades for work and that town keeps improving every decade. Nothing was in Puerto Madero. Did you buy any properties there when you moved to Buenos Aires?

I like the Golden Visa idea. Portugal had a lot of success with that. My brother got his Portugal passport there investing about €500,000. That was a great call. I regret not following his lead but things seem to be going to sh*t in much of the EU. Still a great passport to have. I would consider investing in Argentina if they had a Golden Visa. Saw this online today. These kind of immigrants probably are the type that the visa program would attract.

https://twitter.com/x/status/1811747112356389142

 

[Vero]

Amazed with how great their Spanish is. There were a lot of Koreans that immigrated to Buenos Aires in the 1980's. I remember there was some investment visa for them to come here. Very expensive at the time. But a great group as they learned the language and many started businesses. Most are in the Flores area.

 

[Digital Nomad]

That was a great call @earlyretirement on Palermo Soho and Hollywood. I remember when there was nothing in that area at all. How it has changed tremendously. I've been going to Argentina for decades for work and that town keeps improving every decade. Nothing was in Puerto Madero. Did you buy any properties there when you moved to Buenos Aires?

I like the Golden Visa idea. Portugal had a lot of success with that. My brother got his Portugal passport there investing about €500,000. That was a great call. I regret not following his lead but things seem to be going to sh*t in much of the EU. Still a great passport to have. I would consider investing in Argentina if they had a Golden Visa. Saw this online today. These kind of immigrants probably are the type that the visa program would attract.

https://twitter.com/x/status/1811747112356389142

Wow. That is probably the best BBQ grill set up I've seen here in Argentina. I've gone to many asados but never saw a set up like that. So wonderful they speak so fluently. They look very happy in Argentina.

I didn't realize that were so many Koreans here. Besides Chinatown I don't see too many Asians here because the at the corner stores. I got curious and looked it up. You are right @Vero there was an investment visa. Said they had to invest $100,000 at the time.

Koreans in Argentina - Wikipedia

en.wikipedia.org

 

[import export]

Damn that is a great set up. I wonder how much that set them back.

 

[Jeb Spencer]

I agree strange to make a blog about illegally planning to break law and come in on tourism visa and overstay to have a baby here. He isn't even pretend. He post about it ahead of time. The government should kick him out of country. Tourists are welcome but surprising because Americans don't like when people cheat system to do it in USA but it's ok to do in Argentina??

The thing about Argentina is I don't think they care about people coming to have anchor babies. As long as they will be good additions to Argentina. I saw this American on Twitter. I think he is a bit optimistic about how easy things are here in Argentina. From interviews I listened to, he doesn't even speak Spanish. I am not sure what he does for work but he will be welcomed here.

https://twitter.com/x/status/1814478906973429952