Opening a bank account in Argentina as a non-resident or new citizen: documents, dollars, banks

A bank account in Argentina: the essentials

In brief: to open an account you need a tax number and an identity document. Citizens and residents open accounts with a DNI; a non-resident uses a passport together with a CUIT obtained through a representative. The most practical option is a savings account in pesos and dollars.

The Argentine banking system is regulated by the Central Bank of Argentina. The main difference from many other countries is the tax number: without one, neither a bank nor a payment app will open an account. The second difference is the two currencies: families keep pesos for everyday spending and dollars for savings, and banks open both accounts together.

Since April 2025, residents of Argentina have been able to buy dollars without the former monthly limit. Non-residents still need Central Bank permission to buy currency at the official rate, but they can hold, receive and withdraw dollars in their own account without restriction. The right sequence of steps therefore depends on your status: citizen, resident or non-resident.

The order matters: status first, then the tax number, then the account. If the steps are taken out of order, the bank will refuse at the verification stage, and the apps will not let you through without a DNI. For a new citizen collecting a DNI in Buenos Aires, all the steps can be combined into a single trip.

Tax number: CUIL, CUIT and the end of the CDI

In brief: the CUIL is issued by the social security administration to employees and DNI holders; the CUIT is issued by the tax authority ARCA. Since 2 March 2026, foreigners without a DNI receive a CUIT instead of the former CDI number.

Most citizens and residents with a DNI already have a CUIL, their social security number. A CUIT is needed by anyone who issues invoices, runs a business or registers as a taxpayer. Until 2026, foreigners without a DNI obtained a simplified CDI number. ARCA Resolution 5803/2025 abolished this procedure for individuals: since 2 March 2026 they are issued a CUIT. Existing CDI numbers remain valid until the holder's details change, at which point ARCA converts them into a CUIT.

A foreigner living in Argentina without a DNI applies online through the ARCA service with a passport, a photograph, proof of address and an immigration service certificate showing the residence file number. This CUIT is temporary: it is valid for up to two years or until the residence expires. A non-resident cannot register on their own and obtains a CUIT through a representative with an address in Argentina.

Documents by status

In brief: a citizen opens an account with a DNI; a foreigner in the first year of residence uses a passport or a foreigner's DNI, and after a year only the DNI. A non-resident uses a passport with an apostille and a translation.

Central Bank rules determine which document a bank accepts from a foreigner. In the first year of residence, the passport of your own country is enough; after a year, only the Argentine identity card is accepted. A non-resident presents a document from their own country with an apostille and, if it is not in Spanish, a translation by an Argentine sworn translator.

In addition to the identity document, the bank asks for proof of address and information on employment and income, marital status and whether the client is a politically exposed person. For large incoming payments, the bank checks the source of funds: statements, contracts, tax returns. Requirements differ between banks and even between branches, so the document list should be confirmed before the visit.

Which account to open

In brief: for an individual, a savings account in pesos and dollars is the right choice. A current account is taxed at 0.6% on every credit and debit.

A savings account in Argentina works like an ordinary payment account: it comes with a debit card and handles transfers and payments. Under Central Bank rules, a peso account and one debit card are free of charge. Banks set their own fees for maintaining a dollar account, so check the tariff before signing. A current account is needed mainly by businesses: it carries a tax on credits and debits that does not apply to savings accounts.

Banks that operate ATMs are obliged to open a free universal peso account on request. This is a client's right, but the account is basic: pesos only, and only for clients who hold no other demand accounts in the banking system. A family that keeps its savings in dollars needs a full savings account in both currencies.

Dollars and currency rules

In brief: you can hold, receive and withdraw dollars in your own account without restriction. Residents buy dollars at the official rate without the former limit; non-residents need Central Bank permission.

In April 2025 the government lifted most currency restrictions for individuals: residents buy dollars without a monthly limit, while purchases with cash pesos are capped at a small amount per month. A buyer at the official rate undertakes not to buy securities settled in foreign currency for 90 days. Non-residents were not covered by this liberalisation: to buy currency at the official rate they need Central Bank permission.

Transfers from abroad into a dollar account stay in dollars, and there is no requirement to convert them into pesos. Since July 2026, banks have been allowed to pay salaries in dollars. For a family with income from abroad, this means money can be kept in Argentina in dollars and spent in pesos as needed. More on the currency in the article the peso and Argentina's economy.

Transfers abroad and from abroad

In brief: money from abroad arrives in a dollar account with no mandatory conversion. Residents send money abroad from their own accounts, and the bank checks the purpose of the payment and the source of funds.

An international transfer to Argentina passes through a correspondent bank, usually in the United States. The recipient's bank checks the sender, the purpose of the payment and the sender's relationship with the client. For regular incoming payments such as salary, dividends or rent, the bank agrees the supporting documents with the client in advance, and subsequent transfers go through without delay. Large one-off sums are reviewed separately.

Since most currency restrictions were lifted in 2025, residents have been transferring money abroad from their own accounts. Non-residents can send their own funds back abroad under Central Bank rules, but buying currency at the official rate requires permission. That is why a non-resident keeps money in Argentina in dollars and spends it in pesos as needed, without converting large sums back and forth.

Spending on a foreign card by an Argentine resident is subject to an advance tax, which is later credited against income tax. New residents often use a card from their home country for the first few months and then switch to an Argentine card and a dollar account.

How safe is money in Argentine banks

In brief: deposits in Argentine banks are protected by a state deposit insurance scheme up to a set amount. The experience of 2001-2002, when dollar deposits were frozen, taught Argentines to keep part of their savings abroad.

In 2001-2002, during the economic crisis, the government restricted deposit withdrawals and forcibly converted dollar deposits into pesos at an unfavourable rate. Since then Argentines have been wary of banks and keep part of their savings outside the banking system or abroad. The current government encourages dollars to return to the banks and is removing restrictions, but the memory of the crisis still shapes the behaviour of clients and banks alike.

For an investor family, a sensible arrangement is to keep money for day-to-day expenses and local projects in Argentina, and the main savings with banks in the countries where the family lives or has tax residence. Deposits in Argentine banks are covered by deposit insurance up to an amount that the regulator reviews periodically. More on the economy in the article the peso and Argentina's economy.

Which banks to choose

In brief: the largest banks are the state-owned Banco de la Nación Argentina and the private Galicia, Santander, BBVA and Macro. The digital services Mercado Pago, Ualá and Brubank are convenient but require a DNI.

Banco de la Nación Argentina is the largest state bank, with an extensive branch network across the country, and it allows you to open a peso account through its app. The private banks Galicia, Santander, BBVA and Macro operate nationwide and serve wealthy clients through dedicated divisions. The bank is chosen to fit the purpose: salary, dollar savings, business or a mortgage.

Digital services such as Mercado Pago, Ualá and Brubank have become an everyday payment tool in Argentina. They verify users by DNI, so a foreigner without an identity card will generally not be able to open one. They are set up once the DNI has been issued; for the first months people rely on a bank card from their home country and an account with a bank.

Account for paying the citizenship programme contribution

In brief: the programme contribution enters Argentina only through the banking system, with a check on the source of funds. The bank and the payment route are prepared in advance, often from an account in a third country.

Under the terms of the citizenship by investment programme, money arrives only through banks, and the applicant proves its lawful origin. The regulations of the Agency for citizenship by investment programmes will set out which account the contribution is paid into and when. Until they are published, BRIDGES prepares the payment route: the sending bank, the country, the documents on the funds and coordination with the bank, so that a large transfer clears the checks without delay.

For Russian citizens the payment route is especially important. Transfers from Russian banks to Argentina are restricted, and the payment usually goes from an account in a third country, such as the UAE, Turkey, Kazakhstan or a European country, where the family has an account and a transaction history. In that case the source of funds check also covers how the money left Russia. On the cost of the programme, see the article the cost of Argentine citizenship. If the family chooses citizenship by investment, the amount for your family composition is shown by the Argentina programme cost calculator.

Account for a non-resident

In brief: the law allows a non-resident to open an account with a passport and a CUIT, but the decision rests with the bank. For short trips there is a tourist account in two currencies with a $5,000 limit on credits.

Central Bank rules permit an account for a non-resident on the basis of a passport and a tax number. In practice banks decide for themselves, and without residence in Argentina an account is not always opened. A non-resident obtains a CUIT through a representative with an address in Argentina and prepares a passport with an apostille and a translation, together with proof of address and of income abroad. Under Central Bank rules, non-resident companies cannot open accounts in Argentina.

In 2021 a separate peso and dollar account was introduced for tourists: it is opened on a passport without a tax number and funded by a transfer from your own account abroad or with cash dollars of up to $5,000. At the end of the trip, the foreign currency balance is automatically returned to the account in the tourist's home country. For a citizen who has obtained a passport by investment and lives abroad, a full account is easier to open with a citizen's DNI.

New citizen: an account in a single trip

In brief: a new citizen obtains a DNI at RENAPER, then a CUIL, and opens a savings account in pesos and dollars. If everything is prepared in advance, this fits into a single trip to Buenos Aires.

After the decision granting citizenship, the new citizen receives a DNI identity card. With a DNI, the bank opens the account as it would for any citizen, without the rules for foreigners. BRIDGES agrees the document list and the appointment time with the bank in advance, so that collecting the DNI and the passport and opening the account all happen in one trip. If the citizen lives abroad, the bank will take their tax residence into account: account details will be sent to the country of residence under the automatic exchange of information.

An account in Argentina is also useful for a citizen who does not relocate: for spending during trips, paying for local services, renting out property and settling with companies in the country. More on taxes in the article taxes in Argentina.

Company account

In brief: a company registered in Argentina opens a current account in pesos and then a dollar account. Under Central Bank rules, non-resident companies cannot open accounts in Argentina.

For an Argentine company's account, the bank asks for the incorporation documents, information on beneficial owners, the company's CUIT tax number and documents for its representatives. If a representative is a foreigner, they need their own tax number and a foreigner's identity card. A company dollar account can only be opened alongside a peso account, and banks often route international transfers through the peso account with conversion under foreign exchange market rules.

A foreign company that is not registered in Argentina cannot open an account: to operate in the country, businesses register an Argentine company or a branch. This is worth bearing in mind when planning business and investments: money for Argentine projects is easier to channel through a local company with a clear ownership structure. More in the article doing business in Argentina.

The tax on current account transactions also matters for businesses: 0.6% on every credit and debit. Companies factor it into their calculations, and part of the tax is credited against corporate income tax. With large turnover, the payment structure and the choice of bank have a noticeable effect on costs, so they are planned together with an accountant.

Common mistakes when opening an account

In brief: people go to the bank without a tax number, open a current account instead of a savings account, count on apps without a DNI and fail to prepare documents on their funds.

1. Arriving without a tax number. Without a CUIL or CUIT, no account will be opened.
2. Opening a current account. A 0.6% tax is charged on every credit and debit.
3. Counting on apps without a DNI. Digital services verify users by their identity card.
4. Not checking the fees on a dollar account. Only the peso account is free.
5. Transferring a large sum without preparation. The bank checks the source of funds and may hold the payment.

What to check before visiting the bank

In brief: your status, tax number, identity document, proof of address and income, and the fees on a dollar account.

• What your status is: citizen, resident or non-resident.
• Whether you have a CUIL or CUIT, and how to obtain one.
• Which identity document the bank will accept for your status.
• Documents on your address, employment and income, with a translation into Spanish.
• The fees for maintaining a dollar account.

The conditions of the citizenship programme are on the Argentina programme page. How we handle an application from the initial check to the passport is described on the page support with the Argentina programme.