Argentina to USA Investment Guide
Navigate the cepo cambiario and find legal pathways to invest in America
Argentina Capital Controls Overview
Monthly USD Limit
Legal Dollar Access
Blue Dollar Premium
Visa Available
Understanding the Cepo Cambiario
The "cepo" is Argentina's system of currency controls that restricts access to foreign exchange at the official rate. It has been in place in various forms since 2011, with significant tightening in 2019-2020.
Current Restrictions
- $200/month official rate purchase limit
- 30% PAIS tax on official purchases
- 35% advance income tax on purchases
- Restrictions on company dividend remittance
- Export proceeds must be converted
Multiple Exchange Rates
- Official rate: Lowest, heavily regulated
- MEP/CCL: Stock market dollars, legal
- Blue dollar: Informal market, legal gray area
- Crypto dollar: Via stablecoins
The Blue Dollar Reality
The "blue" dollar is the informal parallel exchange rate, typically 80-100% higher than the official rate. While buying blue dollars is technically illegal, it is widely practiced.
Risks of Blue Dollar
- No legal protection if scammed
- Cannot document source of funds
- Cannot use for legal US purchases
- Potential legal consequences
Why It Matters for US Investment
- US banks require source documentation
- Real estate requires clean funds
- AML compliance is strict
- Use legal channels for US investment
Legal Dollar Access: MEP & CCL
Dolar MEP (Mercado Electronico de Pagos)
The MEP dollar is a fully legal way to obtain US dollars at a market rate by buying peso-denominated bonds and selling their dollar-denominated equivalent.
How MEP Works
- Open account with Argentine broker
- Buy bond in pesos (e.g., AL30)
- Wait required parking period (1-3 days)
- Sell bond in USD (AL30D)
- Transfer USD to local bank account
MEP Limitations
- Parking period restrictions
- Cannot access official market for 90 days after
- Spread between buy/sell
- USD stays in Argentina initially
Dolar CCL (Contado con Liquidacion)
CCL is similar to MEP but the resulting dollars are deposited in an account abroad rather than in Argentina.
How CCL Works
- Buy Argentine bonds in pesos
- Wait parking period
- Sell bonds abroad (via foreign broker)
- USD deposited in foreign account
- Funds already outside Argentina
CCL Advantages
- USD directly in foreign account
- No need to transfer from Argentina
- Fully legal and documented
- Can use for US investment immediately
Crypto Bridge Strategy
Using Stablecoins for Transfer
Cryptocurrency offers another pathway for Argentines to move value across borders, though it comes with its own considerations.
How It Works
- Buy USDT/USDC with pesos (P2P or exchange)
- Transfer to foreign exchange
- Sell for USD (off-ramp)
- Wire to US bank account
Considerations
- Regulatory status evolving
- Document all transactions
- Some US banks question crypto funds
- Tax implications unclear
Offshore Income Strategy
Earning Directly in USD
Argentines earning income abroad have an easier path to US investment since funds never need to cross the cepo.
Common Sources
- Remote work for US companies
- Freelance work paid abroad
- Business income from foreign entities
- Investment income abroad
- Rental income from foreign property
Banking Strategy
- US LLC for receiving income
- US bank account in LLC name
- Payoneer or Wise for contractors
- Document everything for source of funds
Tax Considerations
Argentina-US Tax Treaty Status
There is NO comprehensive tax treaty between Argentina and the United States. This means standard US withholding rates apply.
| Income Type | US Withholding | Notes |
|---|---|---|
| Dividends | 30% | No treaty reduction |
| Interest | 30% | Portfolio interest exemption may apply |
| Royalties | 30% | No treaty reduction |
| Capital Gains | 0% | Non-USRPI, no US tax |
Argentine Tax on Foreign Assets
Argentina taxes residents on worldwide income and has asset disclosure requirements.
Bienes Personales (Wealth Tax)
- Annual tax on worldwide assets
- Foreign assets taxed at higher rates
- Rates up to 2.25% on foreign property
- Minimum taxable threshold applies
Reporting Requirements
- DDJJ annual disclosure
- Report all foreign bank accounts
- Report foreign real estate
- Report foreign investments
US Banking for Argentines
Opening US Bank Accounts
Argentines can open US bank accounts either in person or remotely, though requirements have tightened.
Personal Account Options
- Visit Miami banks in person
- Wells Fargo, Bank of America, Chase
- Bring passport, address proof, SSN/ITIN
- Initial deposit requirements vary
Business Account via LLC
- Form US LLC (Wyoming, Delaware)
- Obtain EIN from IRS
- Apply for business bank account
- May require in-person visit
Source of Funds Documentation
US banks are very sensitive to Argentine funds due to currency control concerns. Be prepared to document everything.
Acceptable Documentation
- MEP/CCL transaction records
- Broker statements
- Employment contracts (if earning abroad)
- Business income documentation
- Tax returns (Argentine and US)
Red Flags for Banks
- Large cash deposits
- Unexplained income sources
- Patterns suggesting structuring
- Inconsistent documentation
Miami Real Estate
Why Argentines Choose Miami
Miami is the natural destination for Argentine investment in the US, with a large Argentine community and direct flights.
Popular Areas
- Brickell (condos, urban)
- Miami Beach
- Sunny Isles Beach
- Coral Gables
- Key Biscayne
Investment Profile
- Safety deposit for savings
- USD appreciation vs peso
- Rental income potential
- Eventual residency pathway
E-2 Visa Opportunity
Argentina is an E-2 treaty country, allowing Argentines to obtain investor visas.
E-2 Requirements
- Substantial investment (~$100K+)
- Must be active business
- Must direct and develop business
- Not passive investment
E-2 Benefits
- Live and work in USA
- Renewable indefinitely
- Spouse can work
- Children can attend school
Scam Protection
Argentines seeking to move money abroad are prime targets for scams. Be extremely cautious of anyone offering "easy" solutions to the cepo.