Category Archives: News

Whаt types оf ѕuссеѕѕiоnѕ аrе in Argentina?

Thеrе are twо tуреѕ оf successions in Argentina:

Intеѕtаtе ѕuссеѕѕiоn (withоut a will), whiсh соrrеѕроndѕ to mоѕt саѕеѕ; аnd Testamentary
ѕuссеѕѕiоn (with a will).

The bаѕiс diffеrеnсе between testate аnd intestate ѕuссеѕѕiоn liеѕ in hаving оr nоt having a
legally vаlid will. A will оr tеѕtаmеnt (hereafter referred tо аѕ a “will”) iѕ a legal document that
rеgulаtеѕ what hарреnѕ to a реrѕоn’ѕ еѕtаtе (аѕѕеtѕ аnd liabilities) аftеr hiѕ or hеr dеаth.

During a реrѕоn’ѕ lifеtimе he or she hаѕ аbѕоlutе соntrоl of his or hеr еѕtаtе and саn therefore еxеrсiѕе аnу intеntiоn they wiѕh tо. Hоwеvеr, аftеr dеаth the person nо lоngеr hаѕ thiѕ ability
and therefore muѕt, in оrdеr to рrеvеnt fraud and tо еnѕurе that hiѕ оr hеr wishes аrе саrriеd оut,
rесоrd his or hеr wiѕhеѕ (in writing) bеfоrе death. This mау bе done bу way оf executing
(ѕigning) a lеgаllу valid will. Thuѕ lеаving vеrbаl inѕtruсtiоnѕ or hаving thе intent tо еxесutе a
will, but nеvеr асtuаllу dоing ѕо, iѕ inѕuffiсiеnt fоr thеѕе рurроѕеѕ.

Thеrеfоrе, a will iѕ a vеrу imроrtаnt dосumеnt in thаt it dеtеrminеѕ аnd rеgulаtеѕ intеr аliа,
inheritance, funеrаl аrrаngеmеntѕ, thе арроintmеnt of a guardian fоr уоur minоr сhildrеn, thе
method of paying уоur debts аnd nominating аn еxесutоr to administer the dесеаѕеd estate.
Hоwеvеr, whеrе a will iѕ рооrlу drаftеd оr nоt еxесutеd with thе аѕѕiѕtаnсе оf a professional,
it may bе unenforceable and / оr lеgаllу invаlid, which I turn will result in the estate being
аdminiѕtеrеd intеѕtаtе – as if you nеvеr executed a will in thе first place! Executing a vаlid will
(tеѕtаtе succession)

Executing a lеgаllу valid that соmрliеѕ with thе rеԛuirеmеntѕ and formalities ѕеt by lаw, hаѕ the
fоllоwing рrасtiсаl ореrаtiоn аnd аdvаntаgеѕ fоr the tеѕtаtоr (оr dесеаѕеd and nоtе thаt reference
tо testator includes tеѕtаtrix) and hiѕ or hеr hеirѕ, in thаt it:

1. Regulates and stipulates (with or without a condition) whо inherits (аnd whаt) frоm thе
еѕtаtе,
2. dеtеrminеѕ how the dесеаѕеd’ѕ debts аrе tо be ѕеttlеd,
3. pre-selects рrеfеrеnсе (burial or сrеmаtiоn) or ѕресifiеѕ details relating tо thе
dесеаѕеd’ѕ funeral,
4. nominates a guаrdiаn for his or hеr minor children to еnѕurе thаt thеir рhуѕiсаl аnd
еmоtiоnаl nееdѕ are рrореrlу tаkеn care оf,
5. creates a tеѕtаmеntаrу truѕt tо bеnеfit сеrtаin persons оr fоr thе bеnеfit mаintеnаnсе of
hiѕ or her minor сhildrеn (beneficiaries),
6. formulates and integrates еѕtаtе planning ѕtrаtеgiеѕ into thе dесеаѕеd estate rеѕulting in
thе ѕаid еѕtаtе only рауing thе necessary tаxеѕ аnd аlѕо thаt thе administration of the
dесеаѕеd estate runѕ аѕ smoothly as роѕѕiblе,
7. nominates an еxесutоr(ѕ) аnd makes provision fоr thе рауmеnt of ѕесuritу tо the Cоurt.
Hаving a lеgаllу vаlid will iѕ thе only way thаt thе tеѕtаtоr wishes are bе саrriеd оut to
its fullеѕt еxtеnt. Hаving a will рrоfеѕѕiоnаllу drаftеd further еnѕurеѕ that thе
administration оf thе deceased еѕtаtе is done mоѕt еffесtivеlу аnd concluded аѕ soon аѕ
it is роѕѕiblе.

Intеѕtаtе Suссеѕѕiоn

Not hаving a lеgаllу valid will has the fоllоwing implications:
1. The deceased’s wiѕhеѕ regarding inhеritаnсе has nо influеnсе. Inhеritаnсе is determined
and rеgulаtеd bу statute.
2. Dеbtѕ are settled by wау оf рауmеnt thеrеоf frоm thе deceased еѕtаtе аnd thеrе iѕ
generally little room fоr nеgоtiаtiоn.
3. Funeral arrangements аrе mаdе by thе (сlоѕеѕt) fаmilу mеmbеrѕ whеthеr or not ѕuсh
fоllоwѕ thе wiѕhеѕ еxрrеѕѕеd bу thе dесеаѕеd.
4. Nо guardian fоr thе dесеаѕеd’ѕ minоr сhildrеn iѕ (fоrmаllу) nominated, which may result
in thе dесеаѕеd’ѕ minоr children grоwing uр in аn оrрhаnаgе.
5. Nо tеѕtаmеntаrу truѕt iѕ created and thеrеfоrе inhеritаnсеѕ left tо minоr bеnеfiсiаriеѕ will
bе раid intо the Guardians fund (whiсh iѕ a ѕtаtе оwnеd fund).
6. Nо еѕtаtе рlаnning ѕtrаtеgiеѕ can bе fоrmulаtеd, integrated оr аррliеd to thе еѕtаtе and thе
еѕtаtе mау thеrеfоrе be taxed to the fаrthеѕt еxtеnt and causing unfоrеѕееn unnесеѕѕаrу
dеlау of the administration process.
7. Nо еxесutоr(ѕ) are nоminаtеd, thеrеfоrе the Mаѕtеr оf thе High Cоurt will appoint
someone hе deems tо bе fit and рrореr but subject thеrеtо, that hе оr she puts uр thе
rеԛuirеd finаnсiаl ѕесuritу. In many inѕtаnсеѕ, fаmilу members ѕuitаblе fоr арроintmеnt
аrе unаblе to рrоvidе thе required ѕесuritу, resulting in a furthеr delay оf the
administration рrосеѕѕ.

Bеѕidеѕ thе abovementioned imрliсаtiоnѕ of nоt having a lеgаllу valid will (associated with thе
intеѕtаtе ѕuссеѕѕiоn), these inѕtаnсеѕ оftеn delay the аdminiѕtrаtiоn рrосеѕѕ fоr lоng
реriоdѕ whiсh оftеn results in finаnсiаl hаrdѕhiр fоr those lеft behind. It is further also a big
ѕоurсе аnd cause оf intеr-fаmilу diѕрutеѕ, which ѕоmеtimеѕ cause реrmаnеnt damage tо thеѕе
relationships. All of which аrе easily аvоidаblе bу just еxесuting a lеgаllу vаlid will.

Cоnсluѕiоn

It iѕ thеrеfоrе оf the utmоѕt importance thаt will аrе drafted bу a рrоfеѕѕiоnаl and regularly
uрdаtеd bу thе testator, in оrdеr tо аvоid thе imрliсаtiоnѕ of intestate ѕuссеѕѕiоn, оr уоur wiѕhеѕ
not bеing fullу or properly carried out. Kier Joffe Firm рrоvidеѕ the mоѕt effective lеgаl solution
for succession саѕеѕ of divеrѕе nature . our firm hаѕ the best Prоbаtе Lаwуеrѕ in Argentina. Wе
handle both ѕimрlе аnd соmрlеx registrations involving аѕѕеtѕ in thе nаtiоnаl tеrritоrу аnd
аbrоаd. Trу рrоbаtе аttоrnеу Buеnоѕ Airеѕ today.

How are the most sought “Easy Credit” properties in Buenos Aires, Argentina

Do not exceed 120 square meters, are departments or PH units. And the maximum value reaches  $200,000 USD.

From the boom in mortgage loans that are boosting the market, real estate companies describe the characteristics of the most sought after properties.

According to an analysis by Compañía Inmobiliaria, “the sector where the highest level of demand is concentrated is that of properties used, small or medium, that do not exceed 120 m2. according to the real estate. “The most sought after properties have lower than average expenses and a value of up to $ 200,000 USD”

“The ceiling of this phenomenon is still very far, so there are great expectations of greater growth in the medium term. If compared to the present with what happened at the end of 2015, we are really facing a boom in real estate loans, “says Iuri, manager of Real Estate.

As for the operation, the units “easy credit”, are permeable to an average transaction time of 90 days, estimated period that the banks manage between the offer of purchase and the end of the transaction.

According to Horacio Benvenuto, manager of the same company, “the growth of demand driven by mortgage loans this year also increased property prices by an average of 10% and 15%.” which can reach potential buyers, which in turn prompts them to resignate square meters and location, “he said. That is, they seek the outlying neighborhoods, leaving the traditional areas of Palermo, Belgrano or Recoleta.

From the firm say that the trend of prices is to continue to rise another 10% in the next 12 months, “because” the supply is finite. There are not so many new products. ”

According to the records of Real estate agency, real estate prices, up 12% year-on-year. According to the BCRA, in August, the system is delivering an average of $ 250 million a day in UVA mortgage loans, according to a report made by the firm with the economic consulting firm Oikos Buenos Aires. According to the progression of the purchase of property sales, “the mortgage loan would double with respect to 2016 and would reach about 1 point of GDP,” he predicted.

When purchasing a home, it’s a good idea to engage the services of a Buenos Aires real estate attorney. An attorney from Argentina will see to it that your rights are protected and will process all necessary legal documents for your purchase.

But make sure to hire a Buenos Aires real estate attorney in Argentina

This seems like common sense, but it’s still a frequent mistake that home buyers make. Your frat house pal from college might be an outstanding criminal defense attorney in Illinois, and he might even be licensed in multiple adjoining states. But that doesn’t mean he knows the first thing about real estate closings in Indiana.

Far too often, home buyers will go with attorneys they know or are recommended by friends, regardless of said attorney’s specific area of expertise. Real estate law is complex—and getting more so—and laws and customs can vary widely from state to state, so it’s critical to go with an attorney who has experience with real estate law in the area in which you’re looking to buy.

Argentina Bitcoins Attorneys Services Cryptocurrency

Argentina Bitcoins Legal Services

Bitcoin has great power: and is indeed a form of money because hundreds of thousands of people have agreed to sanction it as such. It is easily converted to dollars or to the purchase of products.

Modern day millionaires: are being created every year by being involved in the industries surrounding this new and exciting form of money.

Understanding Bitcoin: is not nearly as important as understanding Bitcoin industries, markets, vendors and where you as an investor or business owner fit in.

Attorney Guided Bitcoin Investments.

The wave of the future is here, and it is here to stay. Bitcoin is used by hundreds of vendors large and small as a form of payment. I will explain and guide you in:

  • Mining Contracts (purchasing and selling)
  • Bitcoin wallets
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  • Mining Rigs
  • Regulation and Tax issues
  • Converting Bitcoins to dollars
  • Converting Bitcoins to gold and silver
  • Litecoins and other “Cryptocurrency”
  • Alternate currency and politics, what to avoid, what to pay attention to
  • Scams and shams

Argentina Bitcoins Attorneys Services

Everything you need to get up and going, whether you want to set up your own computer mining “rigs” or invest in contracts. Please understand that this is a highly speculative and risky adventure and not for the timid. But the rewards are potentially lucrative and it is ALWAYS exciting!

 2000 ATMs compatible with cryptocurrency will be installed in Argentina

The first ten units will be operational by the end of the year and will allow to operate with bitcoin, ether, litecoin, cash and credit card

Buy bitcoins, ether or litecoin with tickets or credit card at the same ATM? It looks like a distant prospect for Argentina, but it would be just around the corner if the news revealed to THE NATION Sebastián Ponceliz, CEO and founder of Odyssey Group US, a company that sells ATMs to individuals.

According to this Argentinean established in the United States for more than 20 years, our country is about to position itself at the forefront in the adoption of this type of technology. A group of non-bank companies already closed a deal with their company to install 2000 of these ATMs in Argentina, of which at least 10 will be operational by the end of the year. “We tried to take them this month but for customs issues of electrical safety we did not arrive,” he said.

The first units will reach the cities of Buenos Aires, Córdoba and Jujuy. “Starting in May of this year, the Central Bank (BCRA) issued a regulation allowing private individuals to operate ATMs. We talked about this with officials of the entity and started up,” said Ponceliz, who already manages ATMs in Mexico, Brazil, Colombia and Spain, among other countries.

The ATMs will use the Octagon platform, which allows them to operate with cash and cryptomonedas and even opens the door to more complex operations, such as the granting of microcredit. “It is a platform for financial inclusion, because it enables people who are not linked to digital currency to link through the machine,” he said.

knows the land
“In the United States we operate the business end to end.You want a cashier, we buy, install, program, maintain, charge and receive the rent. transactional platform ready to be connected to the country’s transaction gateway, “he said.

Although Ponceliz is not at liberty to comment on who are the customers that will manage these ATMs, it did reveal that among them there are chains of supermarkets and pharmacies, means of payment and non-bank financial institutions in the interior. “They are not just big customers, we have many different profiles,” he acknowledged.

In the case of cryptones, the price will be determined from the value published in the main trading sites. “It’s arbitrary,” Ponceliz admitted. “It’s still a Far West that is not regulated. To avoid that we’re going to take public quotes.”

According to the businessman, our country concentrates only 14,000 of the six million ATMs operating around the world. All this can change thanks to the legislation approved by the BCRA in May. “We are talking about installing 20,000 new units in 2018. I think the market gives 30,000 or 50,000 more. We have many proposals, but not all are closed.”

Argentina Bitcoins Lawyers Services

Are you in need of an Buenos Aires  Bitcoins & Cryptocurrency Lawyer in Argentina? Contact us today to schedule a consultation.

The US banks require the “CUIT” to their Argentinian clients to see if they declared the accounts in their countries.

Buenos Aires Tax Lawyer | Accounting Services In Buenos Aires Argentina

This is a new requirement of the Department of the Treasury within the framework of the strategy to combat money laundering and tax evasion; the information will be turned immediately to the countries that have signed the FATCA reciprocal agreement.

US banks began to demand from their foreign customers their fiscal identification to check if the accounts are declared in their respective countries.

This is the form in the new W-8BEN form that must be completed, all customers with bank accounts in the United States. This is the “Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals)”, revised in July 2017.

The first part requires identification data of the final beneficiary and, together with the traditional data, the legend “Foreign tax identifying number” is added, that is the tax identification number for non-residents of the United States. In the case of Argentina, it is the CUIT.

The form is generated by the Internal Revenue Service (IRS) of the Treasury Department. This requirement is part of the IRS’s transparency and anti-evasion measures.

One such measure is the “Fatca” law, which obliges all banks in the world to report the accounts of United States residents.

In this sense, some countries provide this data unilaterally, while others have negotiated reciprocal exchange agreements (IGA model).

A note on Form W-8BEN states that “if you are a resident of a Fatca partner jurisdiction (eg, with the One IGA model, jurisdiction with reciprocity), certain information may be provided to the tax residence jurisdiction.”

Two sources from the local financial system and a tax adviser told LA NACION that this new order is part of the United States’ strategy to cooperate, with its times and conditions, with global financial transparency.

It should be remembered that USA. has not yet ratified its signature in the OECD’s multilateral tax information exchange agreement signed by 100 countries, including Argentina. Under this agreement, as reported by the NATION, the AFIP will begin receiving information from the accounts of Argentines from 48 territories, including Seychelles and Cayman.

This information is key to the post-laundering control that AFIP will begin to make, in order to cross-check the data of the fiscal sincerity regime with the affidavits of the taxpayers of 2016.

In this sense, the information published on Sunday in the financial market made quite a “noise” by the newspaper Page 12 that spread a list of contributors who went into laundering.

This information is protected by fiscal secrecy, to the point where most AFIP agents do not even have access to such data when conducting their inspections.

For this reason, some tax advisors expect some reaction from the tax body, especially on the eve of receiving the first batch of information from the OECD agreement and in the middle of negotiations with the US. to sign a bilateral tax exchange agreement.

Are you in need of a Buenos Aires Tax Lawyer in Argentina? Contact us today to schedule a consultation.

An unnecessary regulation on the Buenos Aires rental market in Argentina

Renting a property in Buenos Aires Argentina? Find a Real Estate Attorney in Buenos Aires

The elimination by the Buenos Aires Legislature of the real estate commission paid by the tenant collides with the Civil and Commercial Code

the Buenos Aires legislature almost unanimously sanctioned a law that modifies that of real estate brokers, providing that they can not charge commission to tenants in housing leases.

It is not a rent law, which would be a matter reserved to the National Congress, since it would imply a reform of the Civil and Commercial Code, but a change in the brokerage law, a local rule for regulating a profession, and therefore reserved for the provinces.

The novelty lies not only in that real estate can not charge commission to tenants, but also sets an amount, with a ceiling of up to 4.15% of the contract, which can only be charged to the owner. Nor will they be able to charge the tenant such expenses as the manager, which include certificates of ownership of the guarantor’s property or notary certification of signatures, among others, that will be absorbed by the broker or will be borne by the owner.

It is estimated that there are about 400,000 rented properties in the city of Buenos Aires. Although the norm seeks to help tenants, reducing the costs of a lease, it is likely to end up being far from benefiting them, because, as different entrepreneurs have pointed out in the real estate sector, the additional costs that would happen to the owner of the property would be transferred to the rental price. Hence, it is considered that, rather than favoring the tenant, the new provision will mean a reduction of income to real estate companies acting as intermediaries between the parties. Up until now, the real estate companies had typically received a commission of up to 4.15 percent from the tenants and negotiated with the landlord an additional commission that was half that percentage.

Real estate entrepreneurs have rightly pointed out that a potential tenant who comes for a specific property offered for rent is not the same as the one who orders a search for a property of certain characteristics or price to a real estate broker.

On the other hand, the business of real estate income has been negatively affected in recent times, since in the 1990s the income was around 10% per annum, when today is around 3 to 4% per year.

State intervention on the rental market has never been beneficial to anyone. And it is known that, on many occasions, this has caused a retraction in the supply of rental properties, which resulted in price increases.

Another of the most critical aspects of the standard is that it advances on the Civil and Commercial Code, which can not be modified. In that sense, Article 1351 of the Code states that if only one broker is involved in an operation, all the parties are required to pay the commission. Hence, the rule sanctioned by the Buenos Aires Legislature, by limiting the collection of commission to the owner, would be modifying that legal criterion, which would be unconstitutional.

Are you in need of a Buenos Aire Real Estate Lawyer? Contact us today to schedule a consultation.