Argentina: How investing in a company 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.
Before introducing you to all the information related to Argentina, if you are considering options for citizenship or recidency by investment programs,contact us!. Our specialized team can help you with all your concerns. Click here.
What is it?
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 invest a value worth at least 1.5 million Argentine Pesos, roughly US$15,000 in a company in Argentina.
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.
What are the requirements?
Please find below a list of the requirements of any potential candidate for this program:
1. Clean criminal record, police certificate and affidavit
2. Proof of financial solvency and funds
3. Translation of documents above into Spanish
This list is quite short, and when you take into account that no nationality is prohibited from making an application, and that Argentina do allow their passport to be held as part of a dual nationality, the benefits, at least in terms of the criteria for application, seem unparalleled. It is, however, also important to know what additional documentation you will need to supply as part of the application, this can be found here:
1. Proof of address
2. Passport-sized photo
3. Source of funds
4. CV and evidence of your experience in business
Again, a relatively short list considering the scale of investment and the reward of a one- year residency that can be renewed for up to three years until you are eligible for permanent residency.
At Creimerman, we have a wide investment primer so that our client can choose according to their needs. In this way you can develop businesses that allow you to obtain a residence in Argentina, as well as annual profits.
Now that we’ve covered the main basis of this program, it’s interesting to apply it to one of Argentina’s sectors seeing the biggest growth right now. Argentina has a population of almost 45 million people, and by 2025 the number of internet users is expected to reach 35.2 million, topping 78%, a 7% increase from 2019 alone, demonstrating the rapidly developing connectivity in the region and making the prospect for digital growth a really intriguing trend to keep an eye on.
If we dive into the numbers, it becomes clear that the market is large and expanding, with over 115,000 workers in the IT sector and a majority of this number operating at semi- senior level or higher (76%), the investment potential becomes more viable as the infrastructure already in existence is of high quality and is only getting stronger.
IT is ever more popular in the nation for higher education study as well, and by 2030 there are aims to double the number of workers in the sector, making the availability of talent and highly educated individuals and teams greater, meaning if you decide to put your investment into a technology company, the potential returns look to be healthy!
So, if you are interested in finding out more about Argentina contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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