While Argentina has its rough spots, it is a country welcoming to expats, and has several visa programs designed to bring in new-comers.

September 11, 2023

B​y: Bobby Casey, Managing Director GWP

T​here was a romcom that came out in 1995 called “While You Were Sleeping”, starring Sandra Bullock. There was a holiday dinner scene where they were carrying multiple conversations at once, and the grandmother starts a new thread about pot roast, to which the Jewish godfather responds:

Grandmother: “​I could never make a good pot roast…”

Godfather: “​You need great beef. Argentina has great beef. Beef and Nazis.”

I​t comically calls out the best and worst of Argentina. It’s true of every country, right? They all have their greatest hits and greatest blunders.

I​n some cases, however, one country’s economic blunders can be another country’s citizen’s future greatest hits.

W​hat do I mean? A little over a year ago, we compared and contrasted Argentina and Zimbabwe. Argentinians were protesting in the streets over proposed austerity measures. This was their condition:

Leading up to that was a tax scheme that would ostensibly course correct the country, which we also covered in 2020 just prior to the pandemic hitting.

Needless to say, Argentina economically leaves much to be desired. But the “Blue Dollar” remains. They tried to crack down on it, but we all know that the tighter you try to grip sand, the more that it falls out. Which makes cash dealings in Argentina particularly good for those with US dollars.

F​or those who might not know what this is, the Blue Dollar rate is:

“… the cost of buying and selling a physical dollar bill in a cueva, or clandestine financial house in Buenos Aires. This is the best price you’ll get if you are buying or selling physical bills, and the transaction is done with no involvement of any government-sanctioned or licensed entity (like a bank).”

So how can you parlay this into an opportunity? You’ll recall my rule for residency or second citizenship is they can be two of these three things: Easy, Fast, or Cheap, but it will never be all three.

A​ll three are relative to what other countries impose, not relative to what you think they should be.

I​n Argentina, you can qualify for citizenship in two years and legal residency after three. That is relatively quick.

I​f you are looking to just visit Argentina, there are several short-term visas for folks around the world. Some countries like the US or Schengen Zone members don’t even need to get a tourist visa. They are eligible for a 90 day stay. People from non visa free countries would need to apply for an Electronic Travel Authorization or a short term visa according to their purpose for travel (i.e. study, work, travel, etc.).

But for you folks looking for residency, you need a long-term visa.

T​he first is MERCOSUR citizens. MERCOSUR is an acronym for Mercado Común del Sur (Southern Common Market). The member countries are Argentina, Brazil, Uruguay, and Paraguay. They are eligible for a renewable two-year visa. They can also apply for permanent residency after two years.

T​hen there is the Passive Income Visa. This is for people who can prove they are making a minimum of $2,000/month working. This is perfect for digital nomads, contractors and remote workers who can work virtually, and virtual business owners who can operate from anywhere.

T​his is a one-year visa renewable up to three years. During which time you can start the process of getting your citizenship or permanent residency.

Similar to the Passive Income Visa above, there is the Retiree Visa. The only difference is, the income requirement is a lower.

Investment visas are higher in financial requirements, as you’d expect. High Net Worth Individuals, as is the case in many other countries, are of course welcome. High Net Worth includes those who are worth over $1MM USD, business owners looking to physically expand into Argentina with some track record for success, or high investment in Argentinian businesses. The evaluation time for something like this is longer than the turn time for retirement or passive income visas.

I​t is a one-year visa renewable up to three years, and likewise makes you eligible for permanent residency.

T​here are two different types of worker visas. One is if an Argentinian company invites you in, the other is if your foreign company assigns you to go to Argentina. Either way, there are documents required for proof of assignment and work. Likewise, either way, family is eligible to join you and that time spent can go toward your two year obligation to seek a passport.

Finally, there is the family reunion visa which applies to minor and dependent children as well as spouses and parents.

Extended-stay (or long-term) visas like student visas and medical tourism visas also exist although they cap out before the two-year marker. Naturally, they require sponsorship and verification from the respective institutions. That said, visas are transferable. You can go from a student visa to a passive income visa or a family reunion visa if you marry an Argentinian national. It’s not some shady loophole. It’s actually designed that way.

Depending on the visa you’re looking at anywhere from a few hundred dollars to just under $1,000 USD to get things going. The processing time is anywhere from a 4​5 days to 4-5 weeks or even several months depending on the visa. All visas require a criminal background check.

While the turn times are reasonable, and costs are relatively affordable when compared to some other countries, the ease of getting these visas are a little finicky.

For example, what they require on paper financially, and what they are actually looking for aren’t always what they seem. They often want to see more than the minimum. Getting approval on your documentation might be a bit sticky as well. In the end, your best bet is to get a lawyer who specialized in this to level set what to really expect, and how to get ahead of some of these roadblocks.

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