Argentina to Offer Citizenship for $350,000 Treasury Payment or $800,000 Bond Investment

Argentina plans to offer citizenship to wealthy foreigners who make a nonrefundable $350,000 contribution to its Treasury or invest $800,000 in a new government bond that must be held for seven years, Economy Minister Luis Caputo said Friday at an investor event in Paris. Applications are expected to open before the end of the year.

The program, which Caputo described as a «golden passport» scheme, is designed to attract dollars to a debt-burdened nation. Argentina’s Treasury faces nearly $25 billion in foreign-currency debt payments due in 2027, and the government has narrowed its financing options by holding off on a return to international bond markets. Officials said contributions would rise with family size, with a family of four expected to pay $500,000. A consortium of investment firms advising the government estimated the program could raise up to $2.5 billion if it receives the expected number of applicants.

Securing dollars is critical for libertarian President Javier Milei as he prepares to seek reelection next year. Since taking office, Milei has slashed public spending, dismantled regulations and courted investment in Argentina’s oil and mineral resources, trying to recast the country as a destination for foreign wealth. Caputo said the idea for the citizenship program emerged during Milei’s July 2024 visit to Sun Valley, Idaho, when technology executives expressed interest in obtaining Argentine citizenship.

Argentina, a G-20 nation of 46 million people, would become the first South American country to offer citizenship in exchange for investment. Caputo said the Argentine passport is accepted in more than 140 countries, including China, Russia, Europe’s Schengen area 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 the appeal extends beyond benefits inside Argentina. «It’s not only the benefits that you get within Argentina,» she said. «You also get benefits globally in terms of where you can go.»

Citizenship-for-investment programs go further than «golden visa» residency schemes, which about 60 nations offer. Only about a dozen countries have active citizenship programs, including small Caribbean island states. Industry experts say the clientele has shifted since the COVID-19 pandemic, with more Americans and Europeans seeking a second passport as a backup amid geopolitical uncertainty. Christian Nesheim, editor of Investment Migration Insider, described the Southern Cone of South America as «the ultimate Plan B destination,» citing its distance from global armed conflict and its self-sufficiency in food and energy.

Milei has cultivated ties with libertarian-minded technology billionaires. Peter Thiel, a co-founder of Palantir, temporarily moved his family to Buenos Aires in April, and corporate records obtained by The Associated Press show a company linked to his investment firm, Thiel Capital, owns a $13.5 million mansion in the city’s Barrio Parque neighborhood. Thiel secured New Zealand citizenship in 2011 through a special exemption from residency requirements. Philippe Amarante, managing partner and head of government advisory at Henley & Partners, said the «Peter Thiel in Argentina» story may serve as a proof of concept for the citizenship program.

Golden passport programs have long drawn criticism over their vulnerability to corruption. The Financial Action Task Force, the global money-laundering watchdog, has warned that criminals exploit citizenship and residency programs to conceal their identities, launder illicit wealth and evade justice. The European Union’s top court ruled Malta’s golden passport program unlawful in April, a blow to the investment migration industry.

2Views

Author

Caroline Mercer

World News Correspondent

Caroline Mercer covers public affairs, politics, business, culture and daily news for Core Memo. The role focuses on verification, context, and clear explanations for readers.

All articles by this author