BuySellBA
Administrator
Up to what amount can properties be purchased without declaring the origin of the dollars? - La Nacion Propiedades
Source:
www.lanacion.com.ar
June 11, 2025
The changes were published in a resolution in the Official Gazette; how will it affect properties?
The Government seeks to encourage the use of dollars "under the mattress" Gonzalo Colini
As part of the measures the government is promoting to encourage the use of dollars "under the mattress," LA NACION obtained Resolution 78/2025, published last Thursday in the Official Gazette , which will relax controls on the purchase of real estate, cars, and cash bank deposits.
The regulation significantly raises the threshold for real estate purchase and sale registrations that must be reported to the Financial Information Unit (UIF). Until now, transactions above a certain amount had to be reported to the UIF. With this regulation, the minimum amount for systematic and monthly reporting is raised to 750 Minimum Living Wages (SMVM), or $235,050,000 (approximately US$200,000 at today's exchange rate) , up from 200 salaries, or $62,680,000 (US$53,500). The resolution also establishes that registries must continue to report this information digitally until the 15th of each month.
In the words of the resolution, the regulations respond to a “current gap in existing threshold values” and the need to adopt a risk-based approach, as recommended by the Financial Action Task Force (FATF).
The new regulations would raise the minimum amount for systematic and monthly reporting to 750 Minimum, Vital and Mobile Salaries (SMVM), that is, $235,050,000.Freepik
This new regulation adds to the measures announced by the government to encourage the use of dollars "under the mattress." Among them is the decree establishing a new simplified income tax regime for individuals, which no longer requires reporting assets at the beginning or end of the fiscal year. This indirectly eliminates the infamous "asset cross-check," a tool the tax authorities have relied on until now to detect inconsistencies between income and assets. The elimination of the COTI (Tax and Customs Tax Code), the regime that required prior tax reporting of any real estate transaction valued at more than $66,833,000, to the tax authorities.
The difference between last Thursday's measure and the latter is that the COTI was information for ARCA (it functioned as an essential requirement to move forward with the public deed, which from now on will no longer be necessary). The latest measure published Thursday in the Official Gazette concerns the information sent to the UIF (Financial Intelligence Unit), the agency that analyzes data to prevent Money Laundering (ML), Terrorist Financing (TF), and the Financing of the Proliferation of Weapons of Mass Destruction (FMD); in other words, it raises the threshold for a separate inspection channel.
However, experts warn of possible consequences. "This doesn't mean you can go shopping with undeclared cash and no one will question you ," warns tax expert Sebastián Domínguez, adding: "If the tax authorities catch you, they can file a criminal complaint for evasion or adjust your taxes. This is just one more step, but the necessary legal amendments are still needed to translate what the government says into action."
In this regard, tax expert Roberto Murmis opines: "This is in line with the easing of controls and bureaucracy, which will eventually be incorporated into the real estate or automotive circuit, or simply for consumption with those dollars that are 'in the mattress,' without stopping to review how you got those bills, but reserving the powers of inspection, reversing the position: it is presumed that everything is fine until the State can prove otherwise ."
Market specialists anticipate that this could boost market operations.Gonzalo Colini
The experts consulted agree that this measure will further boost the real estate market, as it will allow those who were hesitant to buy a property because they couldn't justify the deed value to move forward. "It opens a higher purchasing threshold, as it will boost sales, for people who aren't necessarily criminals. Many people used to carry white pesos, which they then converted into blue dollars, thus becoming dirty money, but with an honest source," adds another expert consulted.
“It's all helpful news, helping people who had doubts get active in the real estate market and make buying and selling decisions. The only issue is that it's a regulation, so it doesn't mean you can't be investigated by others tomorrow. Ideally, it would have been legal , but there are many people who might take the plunge and move forward; it's something we'll see in the coming months,” shares Santiago Mieres of the eponymous real estate agency.
"Any relaxation of the information requirement, which means buyers do not have to provide proof of origin of funds, results in a greater number of sales transactions, because today a significant percentage of transactions are frustrated when the buyer cannot provide proof of the source of the funds ," reveals another market specialist.
For his part, Daniel Obetko, Interwin's premium residential manager, explains which property segment the measure could impact: "It will obviously boost sales in the segment below US$200,000 , given that these are also those who have US$50,000, US$100,000, or US$150,000 in savings and have not been included in the money laundering scheme. Much of that money is in mattresses or safes, so it may be worth using the bills to buy real estate, without justifying the origin."
www.buysellba.com
Source:
Hasta qué monto se pueden comprar propiedades sin declarar el origen de los dólares
Los cambios salieron publicados en una resolución del Boletín Oficial; cómo afectará a las propiedades
www.lanacion.com.ar
June 11, 2025
The changes were published in a resolution in the Official Gazette; how will it affect properties?
The Government seeks to encourage the use of dollars "under the mattress" Gonzalo Colini
As part of the measures the government is promoting to encourage the use of dollars "under the mattress," LA NACION obtained Resolution 78/2025, published last Thursday in the Official Gazette , which will relax controls on the purchase of real estate, cars, and cash bank deposits.
The regulation significantly raises the threshold for real estate purchase and sale registrations that must be reported to the Financial Information Unit (UIF). Until now, transactions above a certain amount had to be reported to the UIF. With this regulation, the minimum amount for systematic and monthly reporting is raised to 750 Minimum Living Wages (SMVM), or $235,050,000 (approximately US$200,000 at today's exchange rate) , up from 200 salaries, or $62,680,000 (US$53,500). The resolution also establishes that registries must continue to report this information digitally until the 15th of each month.
In the words of the resolution, the regulations respond to a “current gap in existing threshold values” and the need to adopt a risk-based approach, as recommended by the Financial Action Task Force (FATF).
The new regulations would raise the minimum amount for systematic and monthly reporting to 750 Minimum, Vital and Mobile Salaries (SMVM), that is, $235,050,000.Freepik
This new regulation adds to the measures announced by the government to encourage the use of dollars "under the mattress." Among them is the decree establishing a new simplified income tax regime for individuals, which no longer requires reporting assets at the beginning or end of the fiscal year. This indirectly eliminates the infamous "asset cross-check," a tool the tax authorities have relied on until now to detect inconsistencies between income and assets. The elimination of the COTI (Tax and Customs Tax Code), the regime that required prior tax reporting of any real estate transaction valued at more than $66,833,000, to the tax authorities.
The difference between last Thursday's measure and the latter is that the COTI was information for ARCA (it functioned as an essential requirement to move forward with the public deed, which from now on will no longer be necessary). The latest measure published Thursday in the Official Gazette concerns the information sent to the UIF (Financial Intelligence Unit), the agency that analyzes data to prevent Money Laundering (ML), Terrorist Financing (TF), and the Financing of the Proliferation of Weapons of Mass Destruction (FMD); in other words, it raises the threshold for a separate inspection channel.
However, experts warn of possible consequences. "This doesn't mean you can go shopping with undeclared cash and no one will question you ," warns tax expert Sebastián Domínguez, adding: "If the tax authorities catch you, they can file a criminal complaint for evasion or adjust your taxes. This is just one more step, but the necessary legal amendments are still needed to translate what the government says into action."
In this regard, tax expert Roberto Murmis opines: "This is in line with the easing of controls and bureaucracy, which will eventually be incorporated into the real estate or automotive circuit, or simply for consumption with those dollars that are 'in the mattress,' without stopping to review how you got those bills, but reserving the powers of inspection, reversing the position: it is presumed that everything is fine until the State can prove otherwise ."
Market specialists anticipate that this could boost market operations.Gonzalo Colini
The Party Brokers
"I have someone interested in buying a property. The owner wants to register the deed for the actual value, which is US$120,000. During last year's money laundering process, the potential buyer only laundered US$100,000, leaving them with US$20,000 undeclared. With this new measure, this frees up my negotiation time," a source in the sector, who preferred not to give his name, told LA NACION .The experts consulted agree that this measure will further boost the real estate market, as it will allow those who were hesitant to buy a property because they couldn't justify the deed value to move forward. "It opens a higher purchasing threshold, as it will boost sales, for people who aren't necessarily criminals. Many people used to carry white pesos, which they then converted into blue dollars, thus becoming dirty money, but with an honest source," adds another expert consulted.
“It's all helpful news, helping people who had doubts get active in the real estate market and make buying and selling decisions. The only issue is that it's a regulation, so it doesn't mean you can't be investigated by others tomorrow. Ideally, it would have been legal , but there are many people who might take the plunge and move forward; it's something we'll see in the coming months,” shares Santiago Mieres of the eponymous real estate agency.
"Any relaxation of the information requirement, which means buyers do not have to provide proof of origin of funds, results in a greater number of sales transactions, because today a significant percentage of transactions are frustrated when the buyer cannot provide proof of the source of the funds ," reveals another market specialist.
For his part, Daniel Obetko, Interwin's premium residential manager, explains which property segment the measure could impact: "It will obviously boost sales in the segment below US$200,000 , given that these are also those who have US$50,000, US$100,000, or US$150,000 in savings and have not been included in the money laundering scheme. Much of that money is in mattresses or safes, so it may be worth using the bills to buy real estate, without justifying the origin."
www.buysellba.com
