Bank Accounts, Bitcoin, and Crypto in Argentina 2023
Argentina is without a doubt the most advanced country in South America in terms of cryptocurrency adoption simply because of how weak Argentina’s economy is actually doing in 2023. Argentina’s currency continues to lose value year after year and inflation continues to mount up at an unprecedented speed. These two factors continue to impulse Argentines to find safeguards in the economy, and crypto is an immediate solution. Argentines also rank on the top list of South Americans who best speak English in the continent compared to more than 20 other countries.
All these factors combined with how badly the Argentine peso has performed before, during, and after COVID make Argentina the perfect place for opening a bank account for arbitrage purposes, to buy cryptocurrency: bitcoin, altcoins, or stable coins, or start a crypto exchange or crypto-related business in Buenos Aires, Argentina.
To start the process of obtaining any of the options mentioned above, all applicants must obtain a tax identification number. This will later allow the applicants to obtain a tax employer identification number.
For business bank accounts there are other requirements such as incorporating in Argentina as a new corporate structure or simply registering their foreign structure as a branch in Argentina.
The best banking and financial institution to open bank accounts are usually major banks in the world such as Banco Santander of Spain, ICBC of China, HSBC of Switzerland, Banco de Galicia of Spain, as well local banks from Argentina such as Banco Patagonia, and Banco Macro.
LIMERES specializes in banking in Buenos Aires, Argentina
Some bank accounts can be opened immediately while others may take up to 3 weeks.
Usually, clients will have to provide an unexpired copy of their passport in order to open a bank account in Argentina.
To know more, contact us for a consultation to see which option fits best. Send us a direct message on Limeres.com contact form. You can also email us at banks @ limeres.com. Or call our USA number at +1 (925) 791-8555, or call/WhatsApp at +(54911) 4162-0021.
Limeres.com is part of the International Network of Lawyers at InheritEstate.com and Inherit.com
Our law firm does charge a consultation fee for all initial calls. We go over all of the client’s options. Also, we analyze which option suits best for each situation. However, the consultation fee will apply as a discount towards our final quote should the client decide to be represented by LIMERES’s law firm in Argentina. The initial consultation has a one-time, non-refundable fee. This means that is not reimbursed if the client does not wish to proceed after our initial call. All clients are protected by the attorney-client privilege in all communications.