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Top Articles - Real Estate Investment in Argentina - A How-To Guide
The real estate buying process in Argentina differs from the process’ found in many countries. Almost all transactions are conducted with cash, in U.S. Dollars, at a table, where the seller literally counts the money in front of you. (Note: Bring crisp, pristine bills or the seller may reject them, seriously.)
It is impossible for foreigners to get a loan from a local banking institution, and
It is impossible for foreigners to get a loan from a local banking institution, and
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
very difficult for locals to obtain financing (must haves: excellent job/salary, sizeable amount of assets). If you are able to get a loan, the terms are NOT in your best interest (10 years, 10% interest, and 50% down).
Fortunately for foreign investors, the peso was devalued in December of 2001. The peso was a 1 to 1 ratio with the U.S. Dollar. Now, the peso is a 3.1 to 1 ratio with the U
Fortunately for foreign investors, the peso was devalued in December of 2001. The peso was a 1 to 1 ratio with the U.S. Dollar. Now, the peso is a 3.1 to 1 ratio with the U
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
S. Dollar. A rental property can be purchased for under $100,000 (total investment: purchase price, taxes, agent fees, renovations and furniture), and generate a rental income of 15%. The value of the property is likely to rise as well, and many property owners have seen their portfolios rise 60% in two years.
The Steps you need to follow:
1. You need to register for a tax identification n
The Steps you need to follow:
1. You need to register for a tax identification n
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
mber - CDI. A CDI is the equivalent of a Social Security Number in the United States. But before you can obtain a CDI, you need a certificate that verifies your address, which needs to be verified by the police. You can find the appropriate police station by going here: Federal Police Website.
When you arrive at the police station, tell them that you’re applying for a "Certificado de Domicili
When you arrive at the police station, tell them that you’re applying for a "Certificado de Domicili
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
" (Address Certificate) and bring a photocopy of your passport, along with the original. You will fill out a form and pay the local police 10-15 pesos ($3-5 U.S.). A policeman will visit you at your apartment or hotel to verify that you have a temporary residence in Argentina, usually the following day. The policeman will give you a signed certificate after visual inspection. This paper is imp
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
rtant.
What you need: Passport, Copy of your Passport, 15 pesos, Address
2. The AFIP is similar to the IRS in the United States; the AFIP is the tax authority in Argentina. The next day, when you have the address certificate you need to go to the AFIP Tax Agency that corresponds to the address on the certificate (AFIP website). When you find the correct agency/address, bring your verificatio
What you need: Passport, Copy of your Passport, 15 pesos, Address
2. The AFIP is similar to the IRS in the United States; the AFIP is the tax authority in Argentina. The next day, when you have the address certificate you need to go to the AFIP Tax Agency that corresponds to the address on the certificate (AFIP website). When you find the correct agency/address, bring your verificatio
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
of residence, your passport (original and 2 copies of the first page) to the AFIP.
When you arrive, go to the information counter and ask for the “Formulario CDI” (CDI Form). Before you fill out the form, go to the “Mesa de Entradas” (Entrance Desk) to take a number. This will save you time, because the wait is usually between 2-4 hours. Next, fill out the form, and wait for your number to b
When you arrive, go to the information counter and ask for the “Formulario CDI” (CDI Form). Before you fill out the form, go to the “Mesa de Entradas” (Entrance Desk) to take a number. This will save you time, because the wait is usually between 2-4 hours. Next, fill out the form, and wait for your number to b
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
called. After your number has been called, the process requires an additional 5 minutes.
We suggest you get there when the office opens to minimize the wait (a magazine or book might be useful as well). You will be issued your CDI number during this transaction. Now you now have the power to purchase property in Argentina, and pay taxes!
What you need: Passport, 2 Copies of your Passport, S
We suggest you get there when the office opens to minimize the wait (a magazine or book might be useful as well). You will be issued your CDI number during this transaction. Now you now have the power to purchase property in Argentina, and pay taxes!
What you need: Passport, 2 Copies of your Passport, S
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
gned verification of residence/form, Pen
3. Now you need to find a purchasing agent that you can trust. In Argentina, the BUYER and SELLER pay commission fees, ranging between 3-5% EACH. There’s also a VAT Tax (21% of 3-5%).
Very often, agents representing the buyer are motivated more by a high purchase price, rather than helping their client negotiate True Market Value. The difference betwe
3. Now you need to find a purchasing agent that you can trust. In Argentina, the BUYER and SELLER pay commission fees, ranging between 3-5% EACH. There’s also a VAT Tax (21% of 3-5%).
Very often, agents representing the buyer are motivated more by a high purchase price, rather than helping their client negotiate True Market Value. The difference betwe
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
n a reputable firm and a dishonest agent is simple: Long-Term Relationships. An intelligent firm thrives off of referral business, and would never do anything to hurt their client.
It’s important that you find a professional that will help you: a. negotiate on your behalf, in your best interest (i.e. researching the market to know the True Market Value, through comparison to similar proper
It’s important that you find a professional that will help you: a. negotiate on your behalf, in your best interest (i.e. researching the market to know the True Market Value, through comparison to similar proper
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ies)
b. understand the strengths and weaknesses of the property (i.e. fantastic proximity to restaurants and stores, but 10 blocks from the subway)
c. understand the area and the nuances of the neighborhood (i.e. proximity to: schools, subway, shops, restaurants, museums).
Property in Argentina is sold by square meter. Translation: 1 square meter = 10.76 square feet. Each property is priced
Property in Argentina is sold by square meter. Translation: 1 square meter = 10.76 square feet. Each property is priced
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
differently based upon many factors, some of which you may want to consider:
• the type of building (new construction vs. older - apartment/condo vs. town home)
• the floor the apartment’s on
• the natural sunlight
• the view(s) from the property
• the property’s amenities (doorman, sauna, pool, Jacuzzi, tennis court, etc.)
• the properties monthly fees
• th
• the type of building (new construction vs. older - apartment/condo vs. town home)
• the floor the apartment’s on
• the natural sunlight
• the view(s) from the property
• the property’s amenities (doorman, sauna, pool, Jacuzzi, tennis court, etc.)
• the properties monthly fees
• th
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
properties location (in reference to: museums, theatre, grocery, subway, etc.)
• the properties construction materials
• the layout (open vs. confined)
4. Once you’ve found an agent you trust and a property you want to buy, you need to prepare your money for transfer. When you make an offer (reserva), you typically need to give $1,000 to your realtor to show that you’re offer is se
• the properties construction materials
• the layout (open vs. confined)
4. Once you’ve found an agent you trust and a property you want to buy, you need to prepare your money for transfer. When you make an offer (reserva), you typically need to give $1,000 to your realtor to show that you’re offer is se
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ious. The owner does not receive this money; it’s held in trust by your agent.
When you make your offer to the owner or owner’s agent, they have three options.
a. accept your offer (this is rare)
b. reject your offer
c. counteroffer (this is the most common)
Your offer will usually have an expiration date of 3-7 days to give the seller time to think. During this time, the sell
When you make your offer to the owner or owner’s agent, they have three options.
a. accept your offer (this is rare)
b. reject your offer
c. counteroffer (this is the most common)
Your offer will usually have an expiration date of 3-7 days to give the seller time to think. During this time, the sell
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
r/seller’s agent is prohibited from showing the property and accepting other offers. Also, the seller’s agent is ethically obligated to present the offer to the owner, but many times fails to do so (to leverage your offer against prospective offers).
Working with a trusted agent can help mitigate these risks. Also, it’s important when investing in real estate that you remain emotionally detac
Working with a trusted agent can help mitigate these risks. Also, it’s important when investing in real estate that you remain emotionally detac
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ed, or you risk making a bad decision. This is easier said than done.
5. You have two options when the negotiation is finished and both parties have agreed to a purchase price:
Boleto (Down Payment) The boleto is a usually a 30-40% down payment of the purchase price and is used when the transaction is planned in the future (i.e. 2 months). This is the point of no return, and if you decide
5. You have two options when the negotiation is finished and both parties have agreed to a purchase price:
Boleto (Down Payment) The boleto is a usually a 30-40% down payment of the purchase price and is used when the transaction is planned in the future (i.e. 2 months). This is the point of no return, and if you decide
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
o back out of the deal, you will lose your sizeable deposit. Also, there’s a law in place that requires the seller to pay you double the down payment if they choose to back out of the deal. This legal mechanism virtually guarantees that no one ever backs out, and keeps the seller honest (i.e. accepting a slightly higher offer).
*Important note: if a boleto is used, all agents are paid their c
*Important note: if a boleto is used, all agents are paid their c
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
mmissions at the time of the boleto.
Bypass Boleto, Proceed to Escritura The escritura is the final deed transfer. At this stage, you pay the remaining purchase price. The legal fees are also paid at this time to the Escribano - a lawyer/notary public who does the due diligence on the property and clears title.
If you do bypass the boleto, I would recommend that you use a Sena, which is lik
Bypass Boleto, Proceed to Escritura The escritura is the final deed transfer. At this stage, you pay the remaining purchase price. The legal fees are also paid at this time to the Escribano - a lawyer/notary public who does the due diligence on the property and clears title.
If you do bypass the boleto, I would recommend that you use a Sena, which is lik
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
a mini-boleto used to keep the seller “honest.” Usually this is 10% of the purchase price, and is used if the purchase date is scheduled short-term. Like the boleto, the seller must pay you double the deposit if they back out of the transaction, and you will lose your deposit if you back out.
A Sena is good if the time between offer acceptance and Escritura is minimal (i.e. two weeks), but t
A Sena is good if the time between offer acceptance and Escritura is minimal (i.e. two weeks), but t
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ere’s still enough time for the seller to get cold feet/accept another offer. The Sena/Boleto are both down payments which help ensure that people follow through with their word. Business practices in Argentina are not always legitimate, and many times a breakdown in trust and communication can sour a deal. And that’s why it’s important that you use an agent that you can put your confidence in
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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