Phoenix 24
Citizenship is becoming part of Milei’s strategy to bring new dollars into the economy.
Buenos Aires
Argentina has announced plans to introduce a citizenship by investment program that would allow wealthy foreigners to obtain an Argentine passport in exchange for a direct contribution to the Treasury or the purchase of government bonds. The initiative, presented by Economy Minister Luis Caputo in Paris, is expected to begin accepting applications before the end of 2026.
Applicants would have two principal routes. The first involves a nonrefundable contribution of about $350,000 to the Argentine Treasury. The second requires purchasing approximately $800,000 in newly issued government bonds and holding them for seven years. Additional amounts would apply when spouses or dependent children are included in the application.
The government presents the program as a way to attract foreign currency and strengthen Argentina’s investment profile. The Treasury faces substantial foreign currency debt payments in 2027, while access to international credit markets remains limited. Advisers to the government estimate that the program could generate as much as $2.5 billion if demand reaches expected levels.
The Argentine passport is part of the attraction. It provides visa free or simplified travel access to a large number of countries, including much of Latin America and Europe’s Schengen area. For wealthy applicants from countries with more restrictive travel documents, citizenship could therefore offer advantages extending well beyond Argentina itself.
The initiative also reflects a broader strategy pursued by President Javier Milei to reposition Argentina as a destination for international capital. His administration has combined fiscal adjustment, deregulation and incentives for large investments in sectors such as energy, mining and technology. The citizenship program adds personal mobility and residency security to that investment package.
Citizenship by investment programs are controversial, however. International organizations have warned that poorly supervised schemes can create opportunities for money laundering, concealment of illicit wealth and identity abuse. Argentina says applicants will undergo security, financial and criminal background checks, including verification of the origin of their funds.
The program would make Argentina the first South American country to adopt this type of citizenship model at national scale. Its success will depend not only on how many wealthy applicants it attracts, but also on whether authorities can preserve the credibility of Argentine citizenship while turning passports into an economic instrument.
The experiment places a traditionally civic institution inside a new financial logic: citizenship itself is becoming part of the competition for global capital.
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