Argentina: How creating a company and investing can allow foreigners to obtain residency
Residency has become an interesting subject over the last decade, as traditional pathways to citizenship and visas in different countries have undergone some big transformations. The introduction of schemes known as ‘citizenship by investment’ has meant that the days of having to live in the location you wish to move to for a certain period of time is no longer the only option, satisfying the increasing number of people who long for an instantaneous change of scenery, exacerbated by the Coronavirus pandemic. If you are not quite sure what ‘citizenship by investment’ means or what a special residency is, they could be defined as mutually beneficial programs in which an investor is able to gain instant residency or citizenship in a country in return for a capital injection of a stipulated amount, assisting governments of developing nations and slashing naturalisation times by years.
The country we will be discussing today, Argentina, lies on the periphery of schemes such as those mentioned above. This is because while there is not a complete ‘citizenship by investment’ on offer, there are a number of residency opportunities that do come as a result of investments of some kind. With this established we can move on to the main focus of today’s article, how the setting up of a corporation can yield the reward of residency in one of Latin America’s most beautiful nations. Previously on our blog we have mentioned the potential within the Argentinian IT sector, amongst others, and so the viability of corporation establishment is becoming increasingly attractive, making this opportunity all the more important.
The Inversionista, or in English, Investor Visa, is the official name of the official program specific to Argentina that we have outlined in a broad sense above. In terms of what that means for you as a potential investor, essentially, you will have to devise and draft a business plan that fits one of three main qualities: productive, commercial or service and is of a value worth at least 1.5 million Argentine Pesos. It could be said that these criteria ensure the value of business being brought into Argentina is high and reinforces the position of schemes such as this as being mutually beneficial, affording you the peace of mind that, if accepted, your investment is valuable not only economically, but also socially.
Please find below a list of the requirements of any potential candidate for this program that will be submitted to the Ministry of Industry and Tourism in Argentina:
1. Clean criminal record, police certificate and affidavit
2. Proof of financial solvency and funds