Argentina launches citizenship-by-investment program requiring $350,000 contribution

Argentina has launched South America's first citizenship-by-investment program, offering passports to wealthy foreigners who make a $350,000 donation or buy an $800,000 government bond. Announced by Economy Minister Luis Caputo, the initiative aims to raise up to $2.5 billion to help meet $25 billion in foreign debt payments due in 2027. While critics warn of corruption risks, advisers expect high interest from wealthy Americans seeking a geopolitical 'Plan B' and status symbol.

Announcement and origins of the program

• ▪Economy Minister Luis Caputo stated that the idea for the citizenship-by-investment program emerged during President Javier Milei's July 2024 visit to Sun Valley, Idaho.
• ▪Argentina's Economy Minister Luis Caputo announced a citizenship-by-investment program on October 2, 2026, at an investor event in Paris, with applications expected to open in the fourth quarter of 2026.

Investment requirements for the program

• ▪Under the Argentine program, spouses and adult children aged 18 to 25 can obtain citizenship for a $100,000 contribution, while minor children under 18 require a $25,000 contribution.
• ▪Argentina's citizenship-by-investment program offers a bond option requiring an $800,000 investment in a zero-interest government bond that must be held for seven years.
• ▪Argentina's citizenship-by-investment program offers a non-refundable contribution option of $350,000 to the National Treasury for an individual applicant.

Financial motivations and revenue projections

• ▪A consortium of investment firms advising the Argentine government estimated that the citizenship-by-investment program could raise up to $2.5 billion over five years.
• ▪Argentina's Treasury faces nearly $25 billion in foreign-currency debt payments coming due in 2027, prompting President Javier Milei's administration to seek alternative dollar revenue sources.

Demand for alternative passports among wealthy elites

• ▪Industry experts state that wealthy Americans and Europeans are increasingly seeking 'Plan B' passports as an escape hatch due to mounting global geopolitical uncertainty.
• ▪Apex Capital Partners president Nuri Katz stated that the Argentine citizenship program will be viewed by wealthy Americans as both an insurance policy and a status symbol.

Global landscape of citizenship programs

• ▪The European Union's top court ruled Malta's golden passport program unlawful in April 2025, declaring that European Union citizenship cannot be sold.
• ▪About 60 nations globally offer residency privileges in exchange for investments, but only about a dozen countries have active citizenship-by-investment programs.

Debatable claims

• ▪Argentina's golden passport program poses unacceptable money-laundering and security risks
• ▪Argentina's golden passport program will damage its international standing
• ▪Argentina's citizenship-by-investment program is a legitimate way to raise national revenue
• ▪Argentina's citizenship program is an effective way to address its foreign debt crisis