Importers of Luxury and Final Goods Must Obtain Financing

The BCRA's Board has decided that importers of luxury goods and of a specific set of final goods must obtain financing before accessing the forex market for making payments.

This decision identifies the items of the Mercosur Common Nomenclature that fall under its scope. These involve an overall monthly amount of USD300 million for final goods; and of USD25 million for luxury goods.

Importers may access the forex market 90 days after customs clearance in the case of final goods, and after 365 days in the case of luxury goods.

This measure will apply to every good shipped as from January 7, 2021.

The luxury products falling within the scope of this measure include, among others, high-end automobiles and motorcycles; private jets over one million dollars; ships for recreational use; beverages such as champagne, whisky, liqueurs and other spirituous beverages worth over USD50 per liter; caviar; pearls; diamonds and other precious stones.

January 6, 2021.