The Ministry of Economy added a new investment linked to the real estate sector that can be made by those who want to externalize more than US$100,000.
He Ministry of Economy made a important clarification about him Whitening to which subjects who are tax residents in the country as of December 31, 2023 and non-resident individuals who were tax residents in the country before that date may adhere.
Through the Resolution 613/2024 Published this Wednesday in Official Gazette, Ministry of Economy provided details on how direct and indirect investments in real estate projects should be implemented.
In one of the chapters of the Money Laundering Law, it is clarified that the subjects once the cash is deposited or transferred to a Special Asset Regularization Account, They will be able to allocate this amount to a series of financial instruments, including real estate projects.
In this sense, it is added that it is understood as investments in real estate projects “the celebration of contracts for the leasing of works or of a similar nature, in the case of works on own property for industrial or productive purposes”the document states.
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According to Resolution No. 590/2024 The Ministry of Economy published in the Official Gazette that the funds externalized in cash, deposited in the special regularization accounts, may be used for the subscription or acquisition of:
- Public titles-bonds, bills and other obligations– issued by the National, Provincial, Municipal States and/or the Autonomous City of Buenos Aires.
- Participation certificates or debt securities of trusts whose purpose is to promote productive investment, understood as those vehicles intended, in the Argentine Republic, for direct or indirect investment and/or financing in productive, real estate and/or infrastructure projects, as well as for the financing of Micro, Small and Medium Enterprises included in the terms of article 2 of law 24,467 and its amendments, provided that said instruments are placed by public offer with authorization of the National Securities Commission, a decentralized body acting within the scope of the Ministry of Economy.
- Shares of mutual funds of the first paragraph of article 1 of law 24.083 of Legal Regime of Mutual Funds and its amendments.
- Subscription of shares of mutual funds of the second paragraph of article 1 of law 24.083 and its amendments provided that they have been placed by public offer with authorization of the National Securities Commission (CNV).
- Shares placed by public offering with authorization from the aforementioned body.
- Negotiable obligations referred to in article 36 of law 23,576 and its amendments.
- Direct and indirect investments in real estate projects that begin after the entry into force of Title II of Law 27,743, including those that have a degree of progress of less than fifty percent (50%) of the completion of the work at that time.
Source: Ambito
