Answers - Real Estate

Transferring money to Argentina (a second-world country) isn’t as simple as it is in the U.S. or Europe. The people of Argentina don’t believe in the banks after

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

the peso devaluation in December of 2001. Western Union has a low limit, so they’re not an option. And I definitely wouldn’t advocate that you bring $100,000 in

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

our carry-on luggage.

I recommend that you demonstrate “proof of origin” for the funds that you’re transferring into Argentina (W-2 forms, 1040, etc) because the

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

overnment is beginning to regulate the influx of money. The AFIP (equivalent to the U.S.’s IRS) has the authority to audit you, and you need to be careful so that

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ou don’t have problems when you sell the property in the future.

Transfer fees are usually between 1-3%, depending upon how you transfer your money. You can use “

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

oney exchanges,” which are technically illegal, but used regularly by the locals and foreigners. Or, you can use the Central Bank, which is the safest way, and the

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

most costly.

There is new legislation scheduled for March 2007 to mandate that all real estate purchases are conducted by: check, bank wire or some other method,

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

xcept CASH. The reason for this is that many locals buy/sell properties and change the recorded purchase price by 30-50%. This limits the amount of income taxes th

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

t people pay on the sales price and the amount of property taxes the new owner pays the government.

The government is losing millions of dollars every year in los

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

revenue. Tax evasion is a common practice in Argentina. I do not advocate this practice due to the risks its poses for my clients. Fines can be exorbitant, and

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

when investing in a foreign country, risk mitigation is important. Currently, the government is worried about money laundering, as well as looking for more ways t

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

increase tax revenues. So, consult a lawyer and a banker when you’re serious about investing in Argentina.

Opening a Bank Account in Argentina

The major

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ty of the foreign banks left Argentina in December of 2001. The crisis prompted the people to march in the street, and the banks ran home with their tails between

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

their legs. Now, if you go to a local bank in Buenos Aires, it’s not uncommon to see a half-dozen security guards and/or policeman. Argentina is serious about th

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

safety of their financial institutions and is trying to rectify its international image.

A bank account in Argentina will help you manage your property from over

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

eas. Opening a bank account in Argentina is more difficult than most foreigners expect. By law, the requirement to open a savings account is a CID (tax ID number),

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

an address certificate and a Passport. But many banks have stricter requirements.

If you have an account with HSBC, CitiBank, BankBoston or BBV in the U.S. or Eur

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

pe, they will generally open an account for you in Argentina. Or, if you’re referred to them by a current customer, they will speak with you.

Banco Naci?n, http:/

.

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

www.nacion.com.ar, opens accounts to foreign non-residents requiring only the CDI (tax ID), address certificate and Passport. The minimal deposit is $50 pesos and

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

hey charge a maintenance fee of $3 pesos.

Important things to inquire about: online banking, maintenance fees, wire transfers, minimum deposits, debit/credit card

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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How much number are important in marketing warfare. Author is trying to make the point.

Unfair dismissal termination of employment. Taking the decision to terminate employees should not be taken likely. A failure to follow proven human resource and industrial guidelines wil likely result in your business failing in any legal procedings. You can even be fined up to $45,200 plus costs if you are found wanting.

Is your credit getting you down? Ever feel like there is not enough money in the month to pay your bills? You are not alone. Many people struggle to make ends meet, probably more than you realize. But good news is here.

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Answers - Money Transfers In Argentina - Banking, Law And Real Estate Investment

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