The option to receive wages directly in dollars marks a significant milestone for Argentina. The Central Bank updated banking regulations and now allows salary accounts to be denominated not only in pesos but also in U.S. dollars.
The measure aims to align the financial system with the Labor Modernization Law No. 27.802, which amended Article 105 of the Labor Contract Law. The reform explicitly states that salaries must be paid in money, whether in local or foreign currency.
But the news raises an immediate question: can any worker request that their salary be deposited in dollars from now on?
The answer is that individuals may raise the possibility with their employer, but the new regulation does not require the company to grant the request nor allow the employee to unilaterally change the currency in which they are paid.
What changed with the dollar-denominated salary accounts
Until this modification, banking regulations mandated that salary accounts be denominated in pesos. Although the labor reform had already acknowledged the option of paying wages in foreign currency, the banking instrument used to record salaries needed to be adapted.
The Central Bank has now resolved that incompatibility: salary accounts may be denominated in pesos or in U.S. dollars. Accordingly, a company that chooses to pay wages in dollars will have a dedicated account into which those funds can be deposited.
The measure unlocks the banking channel, but it does not imply that every salary will automatically switch to dollars or that employers must offer this option to their staff.
Can you ask to be paid in dollars?
Yes, any worker can discuss or negotiate this option with their employer. However, asking for it does not mean the company must grant it.
The Labor Modernization Law authorizes payments in either national or foreign currency, but it did not create an individual right for an employee to independently choose the currency of their remuneration. Nor did it establish a mechanism to compel the employer to replace a pesos-denominated salary with a dollars-denominated one.
For the payment to take effect, the company must decide to adopt this modality, implement it from an employment and accounting standpoint, and have the dollars required to process the deposits.
Therefore, the initial step will be to check with the Human Resources department whether the company plans to incorporate salaries, bonuses, or compensation schemes in foreign currency.
Who has the best chances of getting paid in dollars
The regulation does not provide an explicit list of sectors, professions, or workers eligible for this. Legally, the option can be exercised by employers covered by the Labor Contract Law.
However, practically speaking, those employed by firms that already generate or receive revenue in foreign currency—such as exporters of goods or services, tech companies, multinationals, or businesses connected to international activities—may have better odds.
This does not guarantee that those workers will be paid in dollars. It is a practical possibility: a company that already possesses dollars legally could have greater ease using them for payroll.
From the financial sector, officials warned that initial deployment could be limited because some firms still face restrictions when accessing the foreign exchange market to obtain the dollars needed.
Can a company buy dollars to pay wages?
This represents one of the main hurdles the measure could encounter.
The authorization of a dollars-denominated salary account does not by itself guarantee that all companies can freely access the foreign exchange market to acquire currencies for payroll.
Consequently, the option could initially be more accessible to companies that already hold dollars from their operations or have legal mechanisms to hold foreign currency.
The banking rule explains how to credit the funds to the employee, but it does not automatically remove currency controls that could affect individual employers.
Do you need to open a new account?
Central Bank rules contemplate that salary accounts can be opened at the employer’s request. They also permit workers to request a salary account themselves and then provide the bank account number (CBU) to the company to receive the corresponding credits tied to the employment relationship.
With the new adjustment, these accounts can be denominated in U.S. dollars. However, the exact availability of the product, opening times, and operational requirements will depend on each financial institution’s implementation.
Therefore, before starting the process, two questions should be confirmed: that the employer will indeed pay in dollars and that the chosen bank already supports this salary-account modality.
Having a regular savings account in dollars does not automatically mean the company can use it as a salary account. Salary credit must be made through an account that complies with the rules for remunerations.
Will you be able to receive only part of your salary in dollars?
The information released by the Central Bank confirms that salary accounts can be denominated in pesos or dollars, but it does not publicly disclose all details about potential mixed schemes.
Law 27.802 states that wages may be paid in national or foreign currency, although the cited text does not specify what percentage could be paid in each currency nor define a rate applicable when a pesos-denominated remuneration is converted to dollars.
Thus, before implementing partial payments, dollarized bonuses, or monthly conversions, companies will need to clearly define the conditions and reflect them in the relevant employment documentation.
What about the aguinaldo, vacations, and contributions?
The modification opens up a new currency and a new designation for the bank account, but it does not remove the employer’s labor, pension, or tax obligations.
Salary remains a recorded form of compensation. The company must issue the corresponding pay stub and comply with the contributions, social security payments, and other components arising from the employment relationship.
However, the information released so far does not detail exactly which valuation or rate should be used in each scenario when presenting amounts in pesos to the relevant authorities. This point must be addressed by the companies’ accounting and HR departments when implementing the modality.
So, what real chances do you have of being paid in dollars?
From now on, there is a more concrete legal and banking option, but it remains not automatic.
To receive your salary in dollars, at least three conditions must be met: the employer must adopt this modality, have the necessary foreign currency, and be able to credit the amount to a salary account denominated in dollars.
The measure could open up new compensation options, especially in export-oriented sectors or for companies competing for professionals with international offers. But it does not mean that any worker can simply walk into a bank, open an account, and force their employer to deposit dollars.
The key question is no longer merely “Is it allowed to be paid in dollars?”, because legally the answer is yes. The real question will be which companies are capable of doing so and which will choose to offer it to their employees.
