Work Abroad but earn in USD

Saturday, August 13, 2005

"Physical Presence Test" For Argentine Visas

I received a question from a reader today about a "physical presence test" in order to renew the financier (rentista) visa.

Reader's Question

I was wondering if you knew whether you are required to stay in Argentina for a certain number of days during the year after you've been given say, a Rentista Visa. Aside from the passive income requirements for this visa, is there an actual "physical presence" like requirement, or can you come and go and simply renew it in year two. The goal is to get to permanent residence status but be free to come and go and travel in and out of Argentina...laying the foundation for permanent residency because it's where I'd like to live on and off for the rest of my life.

My Response

There is no physical presence requirement for the renewal of the financier visa. I first got my rentista visa a full year before I moved to Argentina permanently. In fact, renewal of the visa was very simple. The only requirements were that I showed my passive income would continue. I just got another notarized letter from my CPA stating that I still owned my business and that's all that was required.

I sent my documents off and my passport off to ARCA and a week or two later they returned my passport to me with the renewed visa in it. Very simple. I only need to renew it twice more. Next year, I'll renew it for one more year. The year after that, I'll renew for the third time and get a permanent visa. I'll then be able to come and go as I please for the rest of my life.

For this reason, it's best to go ahead and start the visa process as soon as possible. Since there is no physical presence requirement, just get the visa as soon as you can so that the 3 year countdown is started. Since I started one year early, I'll have only lived here 2 years when I actually get my permanent residency.

I intend to apply for citizenship and a second passport after I get my permanent residency. That's one of the reasons I'm in a hurry to get my permanent residency. It is my personal belief that no single country ought to have dominion over an individual's sovereign right to travel and migrate. As much as I respect laws of the United States, I don't believe they have the legal or moral right to control my movements.

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3 Comments:

Blogger Chris said...

Thanks for the clear answer about Argentine visas and the "physical presence" issue. In your last paragraph you mention obtaining your citizenship and "second" passport. Can you actually keep your US Passport and obtain an Argentine passport (without jeopardizing either)? I read recently that dual citizenship is no longer the problem (from the US side) that it once was, but my memory of that article is somewhat vague and I could be wrong. Again, thanks for the clarity.

8/13/2005 07:08:00 PM  
Blogger weekendteflcourses said...

I enjoy reading your blog, but I must say, this last comment was like reading stereo instructions. Anyway, thanks for the free consultation to my friend robert at ARCA. Also, See you at Meetup.com at the Buenos Aires American Ex-Pat meetings. Chau. - A.R

8/17/2005 06:01:00 PM  
Anonymous joel said...

thanks for the informative posts. The financier visa looks interesting. But does it allow you to bring in your wife and kids permanently? Or does each family member have to apply for their own financier visa and show that they generate at least $900 in income monthly?

2/15/2007 10:33:00 AM  

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