Argentina Rentista Visa: The Ultimate Guide 2024

Argentina draws people from all over the world with the dynamic energy of Buenos Aires and the awe-inspiring natural wonders of Patagonia. This country is not just a destination for tourists but also a home for expatriates and long-term visitors, thanks to its diverse visa programs. For those aiming to reside in Argentina for an extended period, the Argentina Rentista Visa is a notable option. This visa caters specifically to individuals who can demonstrate a steady income from investments or other non-labor sources, allowing them to enjoy the rich culture, scenic landscapes, and warm hospitality of Argentina without engaging in local employment.

Argentina Rentista Visa Overview

The Argentina Rentista Visa is a special visa program designed for individuals with a reliable source of income, allowing them to live in Argentina without the need for employment. This program was established in 2010 under the legal framework of Act No. 25.871, specifically outlined in Decree No. 616/2010 and further modified by Decree No. 70/2017. 

As for the popularity of the program, it has gained attention among expatriates and individuals seeking a peaceful and culturally rich environment. The attractiveness of Argentina's diverse landscapes, vibrant culture, and relatively lower cost of living compared to some other Western countries contribute to the appeal of the Argentina Rentista Visa.

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Argentina Rentista Visa Latest Updates in 2024

In 2023, significant updates were introduced to Argentina's Rentista Visa regulations, marking a departure from the previous guidelines established in 2016. The initial requirement of a mere ARS 30,000 of minimum monthly income, which was set in the context of the Argentine peso's substantial devaluation, is no longer considered viable.

Recognizing the impracticality of fixing the amount in pesos due to ongoing devaluation, Argentina has revamped the regulation. The new criterion for the Rentista Visa now dictates that applicants must have foreign income equivalent to 5 times the minimum salary. This alteration not only reflects the economic reality but also ensures that the specified amount automatically adjusts to changes in minimum wages, which typically track inflation trends and hover around USD 200–300 per month. 

This adjustment is a strategic move, eliminating the need for frequent updates to the fixed amount and aligning the visa requirements with the minimum wage. As of February 2024, the minimum wage in Argentina is ARS 180,000.

Argentina Rentista Visa vs Retirement Visa

Argentina offers two main visa options for foreigners: the Rentista Visa and the Retirement Visa. The Rentista Visa is designed for individuals with a steady source of income, requiring applicants to demonstrate a monthly passive income from foreign sources. In contrast, the Retirement Visa is geared towards those who have already retired and receive a pension, social security, or retirement benefits. Both visas generally grant temporary residency and may lead to permanent residency or citizenship after a qualifying period. Applicants for either visa must meet specific financial requirements, and the process involves submitting various documents, such as proof of income and a clean criminal record. The choice between the Rentista Visa and the Retirement Visa depends on the individual's financial situation and whether they are still in the workforce or have already retired.

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Argentina Rentista Visa Benefits

Whether you are an Argentine citizen or a foreign national, Argentina's allure lies in its unparalleled diversity, captivating millions of visitors annually. From those seeking a taste of the gauchos' lifestyle to individuals looking to spend their golden years in a country that caters to every taste. With over 60,000 US expats, the nation, particularly in and around Buenos Aires, has become a hub for diverse communities. Beyond its American residents, Argentina also boasts a rich history of European migration, particularly from Italy and Spain, leaving an indelible mark on the country's architecture and culture. 

For those considering a move to this high-quality Europeanized nation without breaking the bank, Argentina's Rentista Visa offers an enticing opportunity along with the following benefits: 

Residency and Citizenship Status

The primary benefit is obtaining temporary residency in Argentina. This allows individuals to live in the country for an extended period. The first visa is issued for one year and can be extended for up to 3 years. After 2 years of residency, it is possible to get Argentine citizenship by naturalization. There is no need to spend the majority of time in Argentina. 

No Employment Requirement

Unlike some other visa types, the Rentista Visa does not typically require the visa holder to engage in employment in Argentina. It is designed for individuals who have a source of income from outside the country. In fact, statistics reveal that a significant number of Rentista Visa holders are retirees or individuals with passive income, contributing to the cultural and economic diversity of Argentina without the need for local employment.

Ease of Renewal

The Rentista Visa is usually renewable, allowing individuals to extend their stay in Argentina without significant complications.  Notably, a substantial percentage of Rentista Visa holders choose to renew their visas, highlighting the enduring appeal of Argentina as a long-term destination for those seeking a harmonious blend of lifestyle and financial sustainability.

Access to Healthcare and Education

Visa holders may be eligible to access the public healthcare system in Argentina. Additionally, they may enroll their children in public schools. According to data from the Study on Access and Perception of Healthcare in Argentina ("Estudio sobre acceso y percepción de la salud en Argentina"), more Argentines rely solely on the private system than on the public system. The majority of residents (34%) have private health insurance and use either system.

Cultural Experience

Living in Argentina provides an opportunity to immerse oneself in the country's rich culture, including its music, dance, food, and diverse landscapes. According to recent cultural surveys, approximately 70% of residents actively participate in cultural events and festivals, showcasing the strong cultural bonds within the community. Moreover, over 80% of expatriates in Argentina express satisfaction with the country's cultural richness, emphasizing the rewarding experience of living in such a culturally vibrant environment.

Potential for Permanent Residency

In Argentina, temporary residency serves as a potential gateway to permanent residency for those not ready to commit to citizenship within the initial 2 years. After 3 years of temporary residency, individuals have the option to apply for permanent residency. It is noteworthy that citizenship and permanent residency adhere to different sets of laws, each with its specific requirements. 

No Taxes 

For holders of a Rentista Visa in Argentina, the tax landscape is favorable. Individuals with this visa, which is specifically designed for those with a steady stream of income from foreign sources, enjoy the benefit of not having their passive earnings taxed by the Argentine government.

Economic Opportunities

Argentina presents a range of economic opportunities, driven by its diverse sectors. With a GDP of around USD 632.63 billion in 2024, the country boasts a sizable and varied economy, including agriculture, manufacturing, and services. In recent years, Argentina has been focusing on renewable energy initiatives, making significant strides in the sector. Moreover, the employment rate in Argentina is forecasted to 61.44% in 2024.

Low Crime Rates

Argentina has one of the world's lowest crime rates at 4.38, ranking it sixty-second in the world. Effective law enforcement agencies contribute to maintaining a safe environment for residents. Additionally, the country's focus on community policing and crime prevention programs has played a crucial role in sustaining its commendable low crime rates.

Family Inclusion

The Rentista Visa may allow for the inclusion of family members, such as a spouse and dependent children, under the same visa application, providing a unique opportunity for families to explore and enjoy the cultural richness of Argentina together. This not only enhances the overall experience but also strengthens family bonds through shared adventures in a new and diverse environment.

Argentina Rentista Visa Requirements

To qualify for the Argentina Rentista Visa, applicants must meet specific requirements outlined by the Argentine government. The key criteria include:

1. Monthly Income Requirement:

• Applicants must prove a monthly income equivalent to or greater than 5 times the minimum living and mobile wages in Argentina. The minimum monthly wage is ARS 180,000 (with a current exchange rate of ARS 850.64 per USD 1 ) as of March 1, 2024. 
• It is recommended to have a monthly income of at least USD 2,000.

2. Source of income:

• The income must be derived from resources brought from abroad, income produced remotely, or any lawful income from external sources.
• The income should be derived as a gain from assets integrated into the applicant's portfolio, such as financial instruments, real estate, or company holdings.
• Remuneration for personal work is not considered an eligible source of income.

3. Funds Entry Verification:

Applicants must demonstrate that their funds have entered the country through authorized banking or financial institutions. The applicant may open a bank account in Argentina remotely with a local or international bank operating in the country, like BBVA, National Bank, Santander, etc. 

4. Bank Statements:

It is necessary to provide bank statements that clearly show a consistent active or passive income. This serves as evidence of financial stability.

5. Residential Address in Argentina: 

Applicants have to prove their address in Argentina and submit utility bills, rental agreements, certificates of ownership, etc. They may buy or rent property in Argentina for any amount.

6. Employment Restrictions:

Working as an employee for someone else is not allowed under this visa category. However, self-employment or ownership of a business is permitted.

7. Renewal Requirements:

Each renewal of the Rentista Visa requires applicants to prove the continued sufficiency of income to support their stay in Argentina.

8. Path to Permanent Residency and Citizenship:

• The visa is initially granted for 1 year, with the possibility of renewal for up to 3 years.
• After 2 years of residency in Argentina, visa holders can apply for citizenship.

Argentina Rentista Visa Application Process

Embarking on a journey towards economic opportunities and global freedom, the Argentina Rentista Visa presents a gateway to a realm of possibilities for wealthy individuals. The application process unfolds in several key steps:

Step 1. Apply for a Tourist Visa

Begin the process by applying for a Tourist Visa to Argentina if your home country does not have visa-free access to Argentina. This serves as the initial step towards initiating the visa application.

Step 2. RaDEX Application Initiation

You need to access the RaDEX system on the National Directorate of Migration's official website to commence the visa application. Utilize the user-friendly online platform to submit the supporting documents and data.

Step 3. Visa Fee Payment

Upon completing the initial application, you need to generate a payment number. Fulfill the visa fee payment through a designated bank before finalizing the application. The government fee starts at 3 UMSM (Unit of Measurement of Migration Services). 

Step 4. Respond to Requests

After submitting the application, promptly respond to any requests for additional documents or set appointments at corresponding delegations. This proactive approach facilitates a swift progression through the application procedure.

Step 5. Confirmation and Precarious Residence Certificate

Upon meeting the requirements, you will get an email confirming approval along with the Certificate of Precarious Residence. This document grants temporary authorization to reside in Argentina during the full residency application processing.

Step 6. Schedule Face-to-Face Appointment

At this stage, you will receive a scheduled date for a face-to-face appointment at the National Directorate of Migration. Optionally, you may expedite the process by opting for a preferential appointment, which involves an additional payment.

Step 7. Obtain Temporary Residence Permit

During the face-to-face appointment, you will register fingerprints. Upon final approval, you will be issued a National Identity Document (DNI), serving as the official ID card and marking the successful completion of the Argentina Rentista Visa application process. 

FAQs About Argentina Rentista Visa

How Much Is It to Get an Argentina Rentista Visa?

Overall, it costs around $5,000 to obtain an Argentina Rentista Visa, depending on the number of family members who apply alongside the main applicant. Application fees, processing fees, and associated costs typically incur and include fees for document processing (translation and certification), consular fees, and legal assistance fees.

How Long Does It Take to Get an Argentina Rentista Visa?

It takes around 2-3 months to get an Argentina Rentista Visa. Processing times can be influenced by factors such as the volume of visa applications, changes in immigration policies, and individual circumstances. Our team will guide you at each step and speed up the process. 

How Hard Is It to Get an Argentina Rentista Visa?

It is not hard to get an Argentina Rentista Visa as long as you can meet all the requirements. Obtaining an Argentina Rentista Visa involves demonstrating a reliable source of income, meeting specific financial criteria of at approximately USD 2,000 per applicant per month, and providing necessary documentation, including a criminal background check. 

Can I Get Residency in Argentina with a Rentista Visa?

Yes, you can get a residency in Argentina with a Rentista Visa. This is a type of visa that allows individuals to obtain a 1-year temporary residence permit in Argentina. You can renew it for up to 3 years. This visa serves as a stepping stone towards obtaining permanent residency and citizenship. 

How Do You Qualify for a Rentista Visa  in Argentina?

To qualify for an Argentina Rentista Visa, applicants must demonstrate a monthly passive income equivalent to or exceeding five times the minimum living and mobile wages in Argentina, currently set at ARS 156,000 (approximately USD 190). It is advisable to have a monthly income of approximately USD 2,000. Funds must enter the country through authorized banking or financial institutions, and bank statements reflecting a consistent active or passive income are required as proof of financial stability. Additionally, a proof of an Argentine residential address is required. 

What are Other Popular Visa Options in Argentina?

Argentina offers two other popular visa options: the Retirement Visa, catering to retirees with a stable monthly income of approximately USD 2,000 from pensions or retirement funds, and the Active Investor Visa, designed for individuals seeking to invest in the Argentine economy through qualifying investment of 1.5 million Argentine pesos (approximatley USD 2,000) in a business. 

What are Other Similar Programs in South America?

In South America, several countries offer similar residency programs to the Argentine Rentista Visa. Here are some examples:

Costa Rica

Applicants have to show proof of income of at least USD 2,500 per month for the past 6 months. The income can be from employment, self-employment, or other sources.

Honduras

Applicants need to provide proof of a monthly income of at least USD 2,500 from outside of Honduras. Unlike similar programs in Central America, the income cannot be from employment or self-employment; it must be from passive sources like rental income or savings.

Peru

Applicants must prove a monthly income of no less than USD 1,000. Similar to Honduras, the income must be from a non-employment source, such as an annuity or rental income. 

Chile

While there is no formal minimum income requirement in Chile, it is advisable to have at least USD 1,500 per month. No specific restrictions on the type of income; however, the discretion of immigration officials may apply and a passive income is recommended. 

Paraguay

For Paraguay, applicants should maintain a monthly passive income of around USD 1,300. The income should be passive, and there are no specific restrictions on the source.

Colombia 

The Colombian Rentista Visa is granted to foreign retirees who receive a pension no less than COP 3,901,818 (approx. USD 995) or to foreigners who receive a periodic income of COP 13,006,060 (approx. USD 3,300). 

With an in-depth understanding of the intricate immigration laws, regulations, and procedural requirements, the Golden Harbors team can guide applicants through the entire application process, ensuring that all necessary documents are correctly prepared and submitted. Our immigration experts can provide valuable insights into the specific financial criteria, helping applicants organize and present their source of income in a manner that aligns with the visa requirements. Our expertise can alleviate the complexities associated with navigating the immigration system, enhancing the chances of a successful and smooth application process for individuals aspiring to secure the Argentina Rentista Visa.