Uruguay’s New Tax Residency Program to Open on July 1st
As Argentina’s Peronist government introduces “one-off” wealth tax, Uruguay’s timing could not have been better.
Argentina’s Rentista and Pensionado visas grant renewable one-year residence permits to individuals who can demonstrate sufficient independent, externally sourced income to support themselves in Argentina.
Though the minimum income is officially ARS30,000 (about US$300) a month, immigration authorities in practice expect applicants to demonstrate an income in excess of US$2,000, typically from a pension, rental income, dividends, or similar recurring and independent revenues.
Curiously, because permanent residency and citizenship are governed by separate legislation in Argentina, the time to become eligible for naturalization is actually shorter (2 years) than for obtaining PR (3).
Program Type | Independent Means Visa |
Time to citizenship | 2 years |
Time to permanent residency | 3 years |
Minimum investment | None. Proof of income required |
Physical presence requirement | None at residency stage (See Path to Citizenship) |
Application processing time | 2-3 months |
Citizenship grants visa-free travel to | 170 destinations, including Schengen countries |
Contribution types available | No contribution required |
General program requirements
Both the Rentista and Pensionado residence permits are initially temporary with a one-year validity, renewable annually for up to three years. You may not work for an Argentine company on the visa but you may work as a freelancer taking on international work or open your own business in Argentina.
The officially stipulated monthly income necessary to qualify is ARS 30,000 (about US$300) per month from a guaranteed source. In practice, however, applications are not likely to be approved unless applicants can demonstrate an independent income of at least US$2,000 a month.
The applicant may includes a spouse and children under 25 years of age.
Additional fees:
– $250 application fee
– $600 immigration fee
Program benefits
Requirements to qualify for citizenship
After receiving the initial one-year residency permit, the applicant must apply for a renewal three months before its expiry. After two years of continuous residency, the applicant may apply for citizenship.
Although no specific physical presence requirement is stipulated in legislation, applicants must prove their residency is legitimate. Specialist recommend that applicants spend at least 180 days per annum in Argentina and show ties to the country, proving Argentina is the applicant’s de facto home.
No language or integration tests are required in connection with naturalization. Argentina allows dual citizenship. An Argentinean judge will consider the application, exercising considerable individual discretion over the decision. Enlisting the help of experienced Argentine legal counsel is therefore advisable.
Legislation upon which this program is based:
Act no 25.871, Dto. 616/2010, Dto. 70/2017
No statistics available yet for this program.
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As Argentina’s Peronist government introduces “one-off” wealth tax, Uruguay’s timing could not have been better.
Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Bulgaria Investor Program (discontinued)
Malta MEIN
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Anguilla Permanent Residency Program
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Barbados SERP Program
Bermuda Economic Investment Certificate (EIC) Program
Brazil Investor Visa (VIPER)
Cambodia My 2nd Home
Cayman Islands Investor Visa
Colombia Investor Visas M and R
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Georgia Investor Visas
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program (discontinued)
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
Russia Investor Visa
South Korea Investor Visa
Spain Golden Visa
Taiwan Golden Visa (APRC Plum Blossom Card)
Thailand Elite Residence Program
UAE Golden Visa
UK Investor Visa (discontinued)
United States EB-5
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Austria Independent Means Visa
Barbados Welcome Stamp
Gibraltar Category 2 HNWI Residence
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Ireland Independent Means (Stamp 0)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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