Argentina is preparing a citizenship-for-investment program that would let wealthy foreigners obtain a passport in exchange for money or a government bond purchase, according to the government announcement made Friday.
Economy Minister Luis Caputo unveiled the plan at an investor event in Paris, saying applications are expected to open before the end of the year. The two options are a nonrefundable $350,000 contribution to the Argentine Treasury or an $800,000 investment in a new government bond that must be held for seven years. Officials said the amount would rise with family size, and a family of four would be expected to pay $500,000.
The program is designed to help Argentina secure dollars. Treasury payments of nearly $25 billion in foreign-currency debt come due in 2027, and the government has limited its financing options by holding off on a return to international bond markets. A consortium of investment firms advising the government estimated the program could raise up to $2.5 billion if it attracts the expected number of applicants.
Argentina would become the first South American country to adopt an active citizenship-by-investment program. About a dozen countries currently have such programs, while roughly 60 nations offer residency privileges tied to one-time investments.
Caputo said the Argentine passport is accepted in more than 140 countries, including destinations across Europe, China, Russia and most of Latin America. Kristin Surak, a professor at the London School of Economics and author of 'The Golden Passport: Global Mobility for Millionaires,' said that for wealthy people from countries with visa restrictions, the passport can make travel and business easier internationally.
The plan fits Milei’s broader effort to recast Argentina as a destination for foreign capital. The government has been slashing public spending, dismantling regulations and courting investment in oil and mineral resources.
The market has already voted on the logic of the plan: when a country is short of hard currency, capital will look for a return and governments will look for leverage. Argentina is now selling access to its passport and its balance sheet at the same time.
For supporters of free enterprise, the episode is a reminder that money follows rules, not slogans. A government that lowers the cost of capital and trims bureaucracy can attract investment; a government that burns credibility must offer more to get the same dollars.
