Following years of currency restrictions and economic turbulence, recent policy reforms in Argentina have begun easing capital controls and improving access to foreign exchange.
Combined with comparatively low property prices, a skilled workforce, and abundant natural resources, Argentina now offers opportunities across real estate, agriculture, and financial markets for those willing to navigate its complexities.
For expats, Argentina’s appeal lies in its potential upside undervalued assets, dollar-linked investment options, and a diversified consumer market within South America’s second-largest economy.
Yet the same traits that make it attractive also demand caution. Inflation remains among the world’s highest, the peso continues to fluctuate, and regulatory rules can shift with little notice.
This guide outlines the general expat investment advice in Argentina needed to make smart decisions: banking and currency access, tax and residency requirements, available financial instruments, property ownership laws, and strategies to hedge against inflation and devaluation.
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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.
Is Argentina a good place to invest?
Essentially, Argentina is suitable for expats who value opportunity over predictability. Those who understand how to structure around inflation, taxation, and exchange-rate movement can find meaningful investment value, especially in dollar-linked assets and urban real estate.
However, one must understand that Argentina’s investment climate in 2025 is in a transition phase. The government has begun loosening the tight capital controls, or cepo cambiario, that long restricted access to dollars and foreign transfers.
This policy shift, supported by an updated IMF program, allows residents and foreigners to buy and remit foreign currency more freely through regulated financial channels.
The reform aims to stabilize the foreign-exchange market, attract investment inflows, and rebuild investor confidence.
Still, the broader environment remains unpredictable. Inflation remains above 150% year-on-year, eroding peso-denominated savings and creating a dual incentive for investors: hedge against inflation while positioning for long-term recovery.
The removal of currency restrictions has opened speculative opportunities in the bond and equity markets, particularly through CEDEARs, which are Argentine depositary receipts that mirror the performance of global stocks in local currency.
How to Open a Bank Account in Argentina as a Foreigner
To open a bank account in Argentina, an expat must present a valid passport, proof of address, and a tax identification number known as a CDI (Clave de Identificación), which functions similarly to a local tax ID.
Long-term residents will also need a DNI (Documento Nacional de Identidad), but short-term foreigners may open limited accounts using only a passport and CDI, depending on the bank’s policy.
Major banks such as Banco Galicia, BBVA, and Santander offer accounts in both Argentine pesos (ARS) and US dollars (USD).
Dollar accounts, however, are typically restricted to residents or foreigners with legal residency status, due to local anti–money laundering regulations.
Non-residents can still hold ARS accounts for daily transactions and investment transfers, but direct access to dollar accounts may require proof of income or a rentista visa.
Digital banking is expanding but remains constrained by identification requirements. Some fintechs, such as Ualá or Brubank, allow remote onboarding but still require local residency documentation.
Therefore, most expats rely on traditional banks for opening and funding accounts, especially if they intend to invest or purchase property.
Account opening usually takes one to two weeks, and all documentation must be translated into Spanish and notarized if issued abroad.
Once the account is active, transfers from overseas are typically routed through the official exchange system, with conversions at regulated rates. For those seeking better rates or greater flexibility, investment channels like MEP dollar exchanges provide legal alternatives for obtaining USD value.
In practice, working with a bilingual accountant or notary familiar with Central Bank rules is highly recommended. They can streamline CDI registration, verify bank requirements, and ensure transfers comply with Argentine foreign exchange regulations, reducing the risk of blocked or delayed funds.
Why does Argentina have multiple currency rates?
Argentina operates with a multi-tiered currency system because government controls limit access to foreign exchange, creating parallel markets where the peso trades at different values for official, financial, and informal transactions.
Although recent reforms have narrowed the gap between official and market rates, these tiers still significantly affect investment returns and purchasing power.
- Official Rate: Set by the Central Bank, this rate applies to formal banking and trade operations. It often undervalues the dollar relative to market conditions, making it unfavorable for converting large sums.
- Blue Dollar (Black Market): This informal rate emerged from years of restrictions on dollar access. Though widely referenced, it operates outside official channels and is illegal for large transactions. It remains a barometer of real-market sentiment and economic instability.
- MEP Dollar (Mercado Electrónico de Pagos): The preferred legal alternative for investors. It allows individuals to convert pesos to dollars through the purchase and sale of certain government bonds or CEDEARs on the local exchange. The MEP dollar closely mirrors the blue rate but operates within official regulations, making it both legal and practical for expats.
- Tourist Dollar or Card Rate: Used for foreign credit and debit card purchases, this rate automatically aligns with the MEP rate, offering better value for short-term visitors and digital nomads spending abroad income in Argentina.
For expats, the key takeaway is to manage all inflows and conversions strategically. Those earning or remitting funds in foreign currency should avoid unnecessary conversions at the official rate and instead use regulated investment mechanisms (MEP) to maintain dollar-equivalent value.
Businesses, landlords, and investors in Argentina often transact in U.S. dollars, even when the official rate applies. Understanding how to legally convert funds and maintain value parity is crucial to avoid devaluation losses. Keeping part of one’s reserves in CEDEARs or offshore accounts provides additional protection against currency instability.
Argentina Taxes and Residency: What Expats Need to Know
Taxation in Argentina hinges primarily on residency status. Foreigners are considered tax residents if they spend more than 183 days within a 12-month period or if their center of vital interests like family, business, or economic activity is based in Argentina.
Residents are taxed on worldwide income, while non-residents are only taxed on Argentine-source income.
The personal income tax (Impuesto a las Ganancias) applies progressive rates up to 35%. Brackets and deductions are adjusted semi-annually for inflation, so figures can vary between the first and second half of the year.
Income from local employment, investments, or property rentals falls under this tax, while most foreign-source income must also be declared once residency is established.
Does Argentina have a wealth tax?
Argentina also maintains a Wealth Tax (Bienes Personales), levied annually on total net assets. As of 2025, the general exemption threshold is around ARS 100 million, with a higher allowance of ARS 350 million for a principal residence.
Rates range from 0.5% to 1.25% depending on total wealth. Residents pay on global assets; non-residents only on Argentine-based holdings.
For non-residents, income from dividends, royalties, or bond interest is subject to withholding tax, typically between 15% and 35% depending on source type and any applicable double-taxation treaty.
Argentina maintains treaties with countries such as Spain, Germany, Switzerland, and the United Kingdom.
Expats should obtain a CDI (tax identification number) early, as it is required for nearly all investments and property transactions. Filing deadlines generally fall in June each year.
Foreigners often work with bilingual accountants or trusted expat financial advisors who specialize in expat taxation, ensuring proper reporting and crediting of foreign taxes.
Failure to comply with AFIP (Argentina’s tax authority) can lead to fines or difficulties in transferring assets abroad.
Expat Investment Options in Argentina
Expats in Argentina can invest through CEDEARs, government and corporate bonds, mutual funds, and inflation- or dollar-linked instruments that hedge against devaluation and inflation.
These regulated investment options provide exposure to both local and international assets while allowing flexibility in currency management.
- CEDEARs (Argentine Depositary Receipts) – Most popular entry point. Each CEDEAR represents shares of a foreign company such as Apple, Coca-Cola, or Petrobras held by a custodian bank abroad and traded on the Buenos Aires Stock Exchange (BYMA) in pesos.
- The local peso price automatically reflects the stock’s USD performance and the MEP exchange rate, giving investors an effective hedge against devaluation. CEDEARs are easily accessible through local brokerage accounts and require no foreign-exchange approval.
- Government and corporate bonds – Offer options in both pesos and dollars.
- CER-linked bonds adjust principal and interest based on inflation (measured by the Coeficiente de Estabilización de Referencia), preserving purchasing power for peso-denominated portfolios.
- Dollar-linked bonds are issued in pesos but track the USD rate, paying higher yields during devaluation periods.
- Hard-currency sovereign bonds (“Globales”) trade internationally and carry credit risk tied to Argentina’s restructuring history; they suit investors seeking external exposure rather than local liquidity.
- UVA time deposits – Short-term savers can use these, where principal is indexed to inflation plus a small fixed return. These instruments are popular among locals as a quasi-savings hedge, though early withdrawals are restricted.
- Mutual funds (Fondos Comunes de Inversión, or FCI) – Offer daily liquidity and diversification across fixed-income, equity, and inflation-linked assets. Many investors use them for cash management between transactions or property purchases. FCIs are supervised by the Comisión Nacional de Valores (CNV) and accessible through banks or brokers.
- To participate, expats must open an account with a licensed brokerage (sociedad de bolsa) and provide identification, CDI, and proof of address. Most trading platforms are bilingual and allow remote order placement.
How to Invest in Real Estate in Argentina
Foreigners can invest in property in Argentina without residency, but transactions are formal and document-heavy. You will need a CDI (tax ID), a passport, and a licensed escribano (notary) who leads due diligence, drafts the deed, and manages escrow-like functions.
Most urban deals especially in Buenos Aires are USD-quoted. Mortgages for non-residents are rare; assume cash purchases or offshore financing.
- Process and costs. After a purchase offer is accepted, the parties sign a boleto de compraventa (binding pre-contract) and pay a deposit (commonly 20–30%). Closing follows with title transfer at the notary’s office. Expect 8–15% in round-trip costs (notary, stamps, municipal taxes, registry, brokerage, and incidental fees). Ensure the seller’s title is clean, municipal dues are current, and the property meets condo bylaws.
- Markets and yields. Buenos Aires offers deep inventory in Recoleta, Palermo, Belgrano, and Microcentro, plus value pockets in Once, Almagro, and Caballito. Gross yields are typically modest; investors prioritize capital preservation, dollar pricing, and optionality (e.g., personal use, inflation hedging). Short-term rentals are regulated; verify building rules and city permits before underwriting Airbnb-style income.
- Rural land restrictions. Law 26.737 caps foreign ownership of rural land nationwide (15% aggregate cap, nationality sub-limits, and per-buyer hectare ceilings that vary by province and land quality). Parcels in border or security zones require additional authorization. Obtain the corresponding certificates and cadastral reports before signing a boleto.
- Tax considerations. Buyers pay stamp duty at purchase, annual ABL/municipal taxes, and income tax on net rental profits. Non-residents selling property may face capital gains tax on Argentine-source income. Factor in Bienes Personales (wealth tax) exposure if resident. Use a bilingual accountant to model annual carry and exit taxes.
For practical guidance, price liquidity conservatively when investing in Argentine real estate, and assume longer sale timelines. Work only with reputable brokers and a seasoned escribano.
If you intend to rent, confirm the lease framework (traditional 3-year leases vs. temporary) and screening norms. For portfolio construction, treat Argentine property as a tactical satellite allocation alongside diversified financial assets.
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