Banking Credit Card real-world rate "MEP" transaction repo (Dec2023)

[Uncle Wong]

Can't wait for our trip @Johnny! Have a lot of stuff planned. I hope I don't run you ragged like last trip. LOL.

Can't wait to meet you guys in 2 weeks. @Johnny Mike told me the story how you were going from meeting to meeting all week and you almost fell asleep in a meeting from exhaustion!

client just sent me that video. He claims that the realtor in it tried to make it sounds like the "Michael" he is working with was me and his client back in 2018. That is NOT true. I have never worked with him. I find it a coincidence that he is using Michael but many realtors try to say they work with me when they don't. Hilarious.

Crazy! So he was trying to imply in the video that you were his client? Do you know where in the video he does that?

Just because Milei doesn't care does NOT mean the next administration will be the same. Remember something, up until Milei foreigners had to get a PERMIT to sell and part of the permitting process was seeing how you brought your cash into the country. Just because it went away doesn't mean that it could change with another administration.

This is a great point! Argentina doesn't seem like the type of country that you want to have issues when you go to sell. Hopefully Milei and LLA last a long time. Hopefully the days of Peronism are over. But you never know. Seems like half the country are socialist.

Nope totally wrong. A huge difference declaring 99% vs. 20%. Not to harp on this but these are huge differences. People that go that low are just begging for problems IMHO. I would venture to guess I have more knowledge of Argentina real estate than anyone in the world and I'm confident I'm the largest buyer of real estate here No way in hell I'd declare that low.


Ha. I can't believe that site is still archived. It went down long ago but the owner is still paying hosting charges. I posted on that site a long time ago. I've been posting help and advice just to help people since 1995 when the Internet started. I've been a Moderator on City-Data and other large websites. 90% of the internet are consumers. They only consume knowledge. Only 10% are givers and give data free. I've always been a giver all my life. I love sharing knowledge.

I read almost all your posts on the old Expats forum. That owner is an idiot for chasing you away. I saw you posted over a decade there. All helpful advice. Sharing your advice on doing business, real estate and other stuff. Seems crazy they would just delete your posts for no reason. That owner of that site Igor sounds like he has a screw loose. That forum looks like it's on its last legs. Barely any activity now.

20% to 40% is NOT common for a foreigner buying in Argentina. You need your head examined. One thing for an Argentine and another for an American. Two different things.


Wow. I thought he knew Argentina. Just goes to show you that even someone that knows Argentina well doesn't. mean they know real estate well. I would never buy pozo here unless it was a big developer. I wonder how much he lost. I wonder why he bought so many like this. Maybe it was a bankruptcy and sometimes they sell properties very cheap but then they never get off the ground. I have a friend that bought one of these and he thought he was getting a good deal. Paid about 30% of the cost of an apartment. That was 10 years ago and the project is still stalled. No thanks.

I was very surprised to hear someone experienced like him would make the mistake of buying pozos where they did not finish. I wonder if he will ever be able to get his cash out of that. I would rather pay 2x more for a finished place than buy from a developer with no reputation. I would think they would just sell the land or something and someone else would take over? A good lesson why you only listen to someone that has been around a long time and knows what they are doing.

@StatusNomadicus maybe I am missing something?? Why did you declare so low? Is it that the seller would not sell to you unless you listed that low? Was it so they did not have to pay capital gains taxes? Or some other reason. Or was your money not legal or declared? What will you do if when you sell it you have to show how you legally got the cash into Argentina? I think I remember you said you only entered one time? So that is only $10,000 you can show you brought in cash. Maybe I am missing something with the crypto. On the title deed did it just show you paid cash even though you paid crypto?

I remember people on this forum telling you that crypto won't be accepted here for a long time and it is all cash. That sounds like it is the case. That is why I like the idea of buying from an established builder. I can just wire to their USD account outside of Argentina. No fees and it is all legal.

 

[Digital Nomad]

How are MEP prices on credit cards. Is it still 7% less than published prices like before? I haven't been to BA in a few months. Is this still accurate? @StatusNomadicus you still keeping track?

ARS Rates - Check Argentina Blue Dollar Rate Easily

View the latest exchange rates for the Argentine Peso against the US dollar, including the official rate, Blue Dollar, VISA, MasterCard, and Western Union rates.

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[FuturoBA]

Interesting discussion. Anyone know what happens if AFIP/ARCA finds out? Is there a fine or any possibility of fraud charges, and if so more so on the buyer or the seller? @StatusNomadicus I believe your goal was to get citizenship, and do you know if this could in any way affect that? My understanding is Argentina is most things are about level of risk tolerance - such as the many of thousands of permatourists, tax evaders, etc. The seller sounded like he was stubborn, but if I was dead set on the house and worried about any potential consequences of too low declared price, I'd consider negotiating paying over agreed amount for peace of mind.

 

[BuySellBA]

Interesting discussion. Anyone know what happens if AFIP/ARCA finds out? Is there a fine or any possibility of fraud charges, and if so more so on the buyer or the seller? @StatusNomadicus I believe your goal was to get citizenship, and do you know if this could in any way affect that? My understanding is Argentina is most things are about level of risk tolerance - such as the many of thousands of permatourists, tax evaders, etc. The seller sounded like he was stubborn, but if I was dead set on the house and worried about any potential consequences of too low declared price, I'd consider negotiating paying over agreed amount for peace of mind.

Lots of various penalties. Escribanos can lose their license. Realtors can lose their licenses. Buyers and sellers can pay penalties and interest and fines. No one goes to jail over this but there can be HUGE penalties and interests. It's not the thing ANY non-resident foreigner should be doing declaring this low. Better to walk away from owners asking to only declare 20% to 40% of true values.

You never know if Milei loses and a Peronist wins and they go back and scrutinize all the non-resident foreigners or put in place permits again to scrutinize each aspect of the purchase, where the assets came from, how money was brought into Argentina. Argentina is not a cake walk. Our firm has been buying here for 23 years since after the corralito and it always changes. So do the administrations.

The point it sounds like some people are making that have lived in Argentina a long time or have experience buying properties here is it's not a good idea to declare that low. Probably we can leave it at that. No sense taking up the entire forum and thread harping on this point.

 

[Avocado]

40% is absolutely not crazy, though. many people have been doing less, like 20%, for many years. cops, judges, realtors, notaries, etc

One thing that I take pleasure in is that you will never get Citizenship here now. I just called my friend that works for the ARCA tax office and told them to look for Americans that purchased in Mendoza for 40% of normal values. They said they will look into it. This commie is tired of you foreigners coming to my country and doing illegal things to cheat on taxes. It is not enough you come here all high and mighty but then brag about breaking the law. My friend tell me today the government want to send people like you back to America. Any law violation and they send you back. I hope it worth it cheating on taxes in my country. Now you go back home.

 

[Avocado]

Interesting discussion. Anyone know what happens if AFIP/ARCA finds out? Is there a fine or any possibility of fraud charges, and if so more so on the buyer or the seller? @StatusNomadicus I believe your goal was to get citizenship, and do you know if this could in any way affect that? My understanding is Argentina is most things are about level of risk tolerance - such as the many of thousands of permatourists, tax evaders, etc. The seller sounded like he was stubborn, but if I was dead set on the house and worried about any potential consequences of too low declared price, I'd consider negotiating paying over agreed amount for peace of mind.

I call today to my friend that works at ARCA to look into American that bought house last year in Mendoza for cheating taxes and bragging about it on forum. He laugh and say government changing law now and these kind of people they dont' want in Argentina. They sent them out and deport them. I am not sure what happens to the house. My friend at ARCA say all involved will be punished. Realtor, escribano, buyer, seller.

He couldn't believe American come here to our country break the law and brag about it on forum. He say once they find him they deport him asap.

 

[Larry]

I call today to my friend that works at ARCA to look into American that bought house last year in Mendoza for cheating taxes and bragging about it on forum. He laugh and say government changing law now and these kind of people they dont' want in Argentina. They sent them out and deport them. I am not sure what happens to the house. My friend at ARCA say all involved will be punished. Realtor, escribano, buyer, seller.

He couldn't believe American come here to our country break the law and brag about it on forum. He say once they find him they deport him asap.

I don't like the guy and he is annoying but that is a low blow @Avocado! It won't be difficult for them to find him immediately. I would bet there aren't many foreigners buying in Mendoza. And not many that used so low on the sales value. The only good thing is nothing works quickly in Argentina.

 

[Wally]

no i don't have my Escritura because the commies at the office of putting-a-stamp-in-5-seconds-on-this-piece-of-paper-takes-8-months haven't gotten off their WhatsApp phone call to do their job. chainsaw incoming, i hope. Argentina will be a serious country when you pay and get your Deed the same day, like most non-savage countries

Annoying but it has always taken months and months here to get the title deed back. Mine took 7 months.

Nope totally wrong. A huge difference declaring 99% vs. 20%. Not to harp on this but these are huge differences. People that go that low are just begging for problems IMHO. I would venture to guess I have more knowledge of Argentina real estate than anyone in the world and I'm confident I'm the largest buyer of real estate here No way in hell I'd declare that low.


Ha. I can't believe that site is still archived. It went down long ago but the owner is still paying hosting charges. I posted on that site a long time ago. I've been posting help and advice just to help people since 1995 when the Internet started. I've been a Moderator on City-Data and other large websites. 90% of the internet are consumers. They only consume knowledge. Only 10% are givers and give data free. I've always been a giver all my life. I love sharing knowledge.

Wow I just spent a few hours going through that old forum. You sure made a lot of predictions that came true. It is great that you have chosen to share information. Thanks for making the forum available and free.

Interesting discussion. Anyone know what happens if AFIP/ARCA finds out? Is there a fine or any possibility of fraud charges, and if so more so on the buyer or the seller? @StatusNomadicus I believe your goal was to get citizenship, and do you know if this could in any way affect that? My understanding is Argentina is most things are about level of risk tolerance - such as the many of thousands of permatourists, tax evaders, etc. The seller sounded like he was stubborn, but if I was dead set on the house and worried about any potential consequences of too low declared price, I'd consider negotiating paying over agreed amount for peace of mind.

Well if they find out you can kiss Citizenship goodbye. Not saying it is a high likelihood that it will happen but just goes back to my point why risk it if you are a foreigner and trying to get citizenship here. Counterintuitive. Just like all of us telling you crypto on real estate is not going to happen for a long time and all cash and you fought me on this. Some of us that have been here a long time will share advice and you can choose to listen or not.

One thing that I take pleasure in is that you will never get Citizenship here now. I just called my friend that works for the ARCA tax office and told them to look for Americans that purchased in Mendoza for 40% of normal values. They said they will look into it. This commie is tired of you foreigners coming to my country and doing illegal things to cheat on taxes. It is not enough you come here all high and mighty but then brag about breaking the law. My friend tell me today the government want to send people like you back to America. Any law violation and they send you back. I hope it worth it cheating on taxes in my country. Now you go back home.

NOT cool Avocado. I know you two fight all the time but that is taking things too far. There is a reason there is a mute button. Just ignore one another and stop calling one another names.

I don't like the guy and he is annoying but that is a low blow @Avocado! It won't be difficult for them to find him immediately. I would bet there aren't many foreigners buying in Mendoza. And not many that used so low on the sales value. The only good thing is nothing works quickly in Argentina.

What will most likely happen is the ARCA agent will go to @StatusNomadicus's house and shake him down for a payoff. Not sure how much but stuff like that happens all the time. That is why they had to make the salaries so high at ARCA so they wouldn't do things like this. But foreigners are at the mercy because they can get deported.

 

[sophos]

Wow I just spent a few hours going through that old forum. You sure made a lot of predictions that came true. It is great that you have chosen to share information. Thanks for making the forum available and free.

Your wisdom is missed @earlyretirement on the other forum. It is not the same since you left. Activity has died down and many expats have moved out.

 

[Che Vos]

One thing that I take pleasure in is that you will never get Citizenship here now. I just called my friend that works for the ARCA tax office and told them to look for Americans that purchased in Mendoza for 40% of normal values. They said they will look into it. This commie is tired of you foreigners coming to my country and doing illegal things to cheat on taxes. It is not enough you come here all high and mighty but then brag about breaking the law. My friend tell me today the government want to send people like you back to America. Any law violation and they send you back. I hope it worth it cheating on taxes in my country. Now you go back home.

I am glad for this! This guy always call me communist. When you mess with Argentines, we send you back home.

 

[Johnny]

Interesting discussion. Anyone know what happens if AFIP/ARCA finds out? Is there a fine or any possibility of fraud charges, and if so more so on the buyer or the seller? @StatusNomadicus I believe your goal was to get citizenship, and do you know if this could in any way affect that? My understanding is Argentina is most things are about level of risk tolerance - such as the many of thousands of permatourists, tax evaders, etc. The seller sounded like he was stubborn, but if I was dead set on the house and worried about any potential consequences of too low declared price, I'd consider negotiating paying over agreed amount for peace of mind.

Probably no one knows for sure. I would bet that if someone came out to interview you, it's nothing that a few hundred bucks couldn't solve. But who knows with Milei. Maybe they are making a change. It doesn't seem like he cares about people sending money outside of Argentina but not sure how they feel about losing out on legitimate income. When I bought my property I had to pay 3.6% stamp taxes. I don't know what they are in Mendoza but they probably have stamp taxes there too on property value.

The 2 new construction properties I bought there was not even any discussion at all about declaring lower. I used 100% of the true price without anyone asking me to. I also plan to apply for my DNI in the future. I wouldn't want to have anything holding me back from that. But so far I don't find anything too organized there.

 

[FuturoBA]

I call today to my friend that works at ARCA to look into American that bought house last year in Mendoza for cheating taxes and bragging about it on forum. He laugh and say government changing law now and these kind of people they dont' want in Argentina. They sent them out and deport them. I am not sure what happens to the house. My friend at ARCA say all involved will be punished. Realtor, escribano, buyer, seller.

He couldn't believe American come here to our country break the law and brag about it on forum. He say once they find him they deport him asap.

That's fucked up. You guys have your disagreements but one thing I believed you both had in common was a love for Argentina even if it came from opposing sides. Everything here is just words on a page and that nothing should be taken personal.

 

[JonJLA]

That's fucked up. You guys have your disagreements but one thing I believed you both had in common was a love for Argentina even if it came from opposing sides. Everything here is just words on a page and that nothing should be taken personal.

Totally agree. This is a reason why you can't get carried away on a message board. To let someone get you so worked up that you go to these levels means that on both sides they are doing something wrong. I have seen the back and forth and not healthy. Typically when you need to just step away from a forum.

Argentina has a lot of whacko locals. I am not saying this is you Avocado but agree with @FuturoBA. You both seem to love Argentina in your own way. I have seen similar types of behavior in all the years owning my property. Usually by the time it goes too far it is too late.

I would point out that we are just guests in their country. Always have to be respectful. Don't have to always agree but if it gets to this point it means it is not healthy.

I don't think it would be difficult if Avocado really did do this. There are not big volumes of foreigners buying in areas outside of BA. You can pinpoint the estimated time range of the purchase too. I hope you reconsider Avocado.

 

[Betsy Ross]

That's fucked up. You guys have your disagreements but one thing I believed you both had in common was a love for Argentina even if it came from opposing sides. Everything here is just words on a page and that nothing should be taken personal.

One thing I noticed living in here in Argentina for a long time is there is only so much unprovoked abuse someone will take. I don't agree with a lot of what Avocado says but I have seen many posts where she gets bashed over and over. I think it is wrong to do what she is doing but also think it makes no sense to just continually call someone names. For what?

I also think it's probably not a good idea if you're in a smaller town, a foreigner and trying to get residency to admit on the internet that you are breaking the law. With artificial intelligence it is not going to be difficult to find out who you are.

 

[earlyretirement]

That's fucked up. You guys have your disagreements but one thing I believed you both had in common was a love for Argentina even if it came from opposing sides. Everything here is just words on a page and that nothing should be taken personal.

I agree this is totally uncalled for. I never understand grown adults that want to fight anonymously online. I get disagreements and think that can be healthy disagreeing. I have been posting on the internet on a bunch of forums since the Internet began. I've always been fascinated by the sharing of information. I have been a moderator of national websites like City-Data and I finally quit because it was mostly just putting people in time out for arguing with one another. You would see some really nasty things like this.

People please think before posting any personal information that can be tracked back to you if you don't want it out there. When I was the Moderator of City-Data I would see people posting things about someone's real identity after figuring it out. And people just got carried away. One guy got sued and ended up losing a significant amount of money in one dispute.

This forum I created is meant to be beneficial and share information and knowledge. When it gets to the point where it's harmful it is time to just quit the forum. @Avocado, I would seriously ask you to call this off. I have had many interactions with AFIP/ARCA and was successful each time but many shakedown attempts.

You could realy cause harm and potentially cause a deportation of someone that loves Argentina so much he uprooted his life to move here. I would ask you both @Avocado and @StatusNomadicus just to take a time out and don't antagonize one another. There is free speech on my forum and I do NOT like to moderate but this is becoming unhealthy IMHO.

@Avocado. for the record, I can tell you that @StatusNomadicus is a nice guy. I have spoken to him on the phone for a consultation. Very nice and intelligent guy. He loves Argentina which is his new home. Please I ask you to reconsider any actions you are talking about.

 

[Larry]

I agree this is totally uncalled for. I never understand grown adults that want to fight anonymously online. I get disagreements and think that can be healthy disagreeing. I have been posting on the internet on a bunch of forums since the Internet began. I've always been fascinated by the sharing of information. I have been a moderator of national websites like City-Data and I finally quit because it was mostly just putting people in time out for arguing with one another. You would see some really nasty things like this.

People please think before posting any personal information that can be tracked back to you if you don't want it out there. When I was the Moderator of City-Data I would see people posting things about someone's real identity after figuring it out. And people just got carried away. One guy got sued and ended up losing a significant amount of money in one dispute.

This forum I created is meant to be beneficial and share information and knowledge. When it gets to the point where it's harmful it is time to just quit the forum. @Avocado, I would seriously ask you to call this off. I have had many interactions with AFIP/ARCA and was successful each time but many shakedown attempts.

You could realy cause harm and potentially cause a deportation of someone that loves Argentina so much he uprooted his life to move here. I would ask you both @Avocado and @StatusNomadicus just to take a time out and don't antagonize one another. There is free speech on my forum and I do NOT like to moderate but this is becoming unhealthy IMHO.

@Avocado. for the record, I can tell you that @StatusNomadicus is a nice guy. I have spoken to him on the phone for a consultation. Very nice and intelligent guy. He loves Argentina which is his new home. Please I ask you to reconsider any actions you are talking about.

Agree. I personally hate the guy and disagree with him all the time. He also calls me a commie and other negative things. I don't believe he really lives here but it sounds like if Mike is vouching for him than he really does live in Argentina. I don't want to see anyone deported or have problems with AFIP. That is not cool. As always we can agree to disagree.

 

[Avocado]

That's fucked up. You guys have your disagreements but one thing I believed you both had in common was a love for Argentina even if it came from opposing sides. Everything here is just words on a page and that nothing should be taken personal.

I don't bother this guy. He attacks me all the time. Over and over. I do nothing to him but all the time he attack me.

I agree this is totally uncalled for. I never understand grown adults that want to fight anonymously online. I get disagreements and think that can be healthy disagreeing. I have been posting on the internet on a bunch of forums since the Internet began. I've always been fascinated by the sharing of information. I have been a moderator of national websites like City-Data and I finally quit because it was mostly just putting people in time out for arguing with one another. You would see some really nasty things like this.

People please think before posting any personal information that can be tracked back to you if you don't want it out there. When I was the Moderator of City-Data I would see people posting things about someone's real identity after figuring it out. And people just got carried away. One guy got sued and ended up losing a significant amount of money in one dispute.

This forum I created is meant to be beneficial and share information and knowledge. When it gets to the point where it's harmful it is time to just quit the forum. @Avocado, I would seriously ask you to call this off. I have had many interactions with AFIP/ARCA and was successful each time but many shakedown attempts.

You could realy cause harm and potentially cause a deportation of someone that loves Argentina so much he uprooted his life to move here. I would ask you both @Avocado and @StatusNomadicus just to take a time out and don't antagonize one another. There is free speech on my forum and I do NOT like to moderate but this is becoming unhealthy IMHO.

@Avocado. for the record, I can tell you that @StatusNomadicus is a nice guy. I have spoken to him on the phone for a consultation. Very nice and intelligent guy. He loves Argentina which is his new home. Please I ask you to reconsider any actions you are talking about.

It too late. I already gave him the information. He said he busy now but next month he will start it. He say it very easy to find non resident foreigner American that buy in Mendoza. He said he can find in 2 minutes and give me he name. The guy is my cousin. So very easy for me to find. I am tired of all attack on me. I do nothing to this American but all the time attack me.

I feel bad if he gets deported but unfortunately the laws are changing and ANY crime will get foreigner deported. My cousin at ARCA say declaring 40% huge problem. He tell me all people involved with transaction will have penalties and consequence. He say how it works is they will get first person to turn on others and admit to crime. First person will not have problem but all others. Maybe @StatusNomadicus better turn himself in to ARCA first and turn in other realtor and escribano and spare himself from getting deported. I dont know how all works.

 

[Uncle Wong]

I don't bother this guy. He attacks me all the time. Over and over. I do nothing to him but all the time he attack me.


It too late. I already gave him the information. He said he busy now but next month he will start it. He say it very easy to find non resident foreigner American that buy in Mendoza. He said he can find in 2 minutes and give me he name. The guy is my cousin. So very easy for me to find. I am tired of all attack on me. I do nothing to this American but all the time attack me.

I feel bad if he gets deported but unfortunately the laws are changing and ANY crime will get foreigner deported. My cousin at ARCA say declaring 40% huge problem. He tell me all people involved with transaction will have penalties and consequence. He say how it works is they will get first person to turn on others and admit to crime. First person will not have problem but all others. Maybe @StatusNomadicus better turn himself in to ARCA first and turn in other realtor and escribano and spare himself from getting deported. I dont know how all works.

It would NOT be cool to post private information about someone. If your cousin really works at ARCA and can get this, I would like that Mike would have some TOS on this board that prevent this type of thing. I think everyone needs to calm down a bit. You are talking about getting someone deported! I wouldn't have thought it was a big deal before but reading this new law about deporting foreigners for ANY crime makes me think this is very dangerous.

 

[Avocado]

It would NOT be cool to post private information about someone. If your cousin really works at ARCA and can get this, I would like that Mike would have some TOS on this board that prevent this type of thing. I think everyone needs to calm down a bit. You are talking about getting someone deported! I wouldn't have thought it was a big deal before but reading this new law about deporting foreigners for ANY crime makes me think this is very dangerous.

The only way I will change my mind is if @StatusNomadicus apologizes to me for being rude and constantly harassing me. Promises not to harass anyone else or call names and behaves. He also has to admit he was wrong with doing this behavior. If he does this then I will tell my cousin to stand down. That is the only way.

 

[fool in love]

It would NOT be cool to post private information about someone. If your cousin really works at ARCA and can get this, I would like that Mike would have some TOS on this board that prevent this type of thing. I think everyone needs to calm down a bit. You are talking about getting someone deported! I wouldn't have thought it was a big deal before but reading this new law about deporting foreigners for ANY crime makes me think this is very dangerous.

Probably will be the last time he posts on a public forum about breaking the law in Argentina!