Argentina is to launch a golden passport scheme offering citizenship to wealthy foreigners who make a substantial contribution to the Treasury or invest in government bonds, Economy Minister Luis Caputo has announced.
Applications are expected to open before the end of the year as President Javier Milei’s government seeks to raise dollars for the debt-burdened country.
Applicants will be able to choose between a non-refundable contribution of 350,000 US dollars to the Argentine Treasury and an investment of 800,000 dollars in a new government bond, which must be held for seven years.
The amount required would rise for larger families. Officials said a family of four would be expected to pay 500,000 dollars.
The scheme was unveiled by Mr Caputo at an investor event in Paris. A consortium of investment firms advising the government estimates it could raise as much as 2.5 billion dollars if the anticipated number of applicants sign up.
The programme comes as the Treasury faces almost 25 billion dollars in foreign-currency debt payments due in 2027. Argentina has also delayed returning to international bond markets, leaving the government looking for alternative sources of finance.
Argentina golden passport scheme offers global travel benefits
Citizenship-by-investment programmes offer greater rights than so-called golden visas, which generally provide residency in return for a one-off investment. About 60 countries offer residency schemes, while only around a dozen have active citizenship programmes.
Argentina would become the first South American country to join that group. Mr Caputo said the Argentine passport was accepted in more than 140 countries, including China, Russia, the Schengen area and most of Latin America, without holders needing to obtain a visa in advance.
Kristin Surak, a professor at the London School of Economics and author of The Golden Passport: Global Mobility for Millionaires, said the passport could be especially attractive to wealthy people from countries facing visa restrictions.
“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.”
Industry experts said demand for second passports had shifted since the Covid-19 pandemic, with more Americans and Europeans seeking an alternative base despite already enjoying extensive visa-free travel.
Christian Nesheim, editor of the trade journal Investment Migration Insider, described the Southern Cone of South America as an “ultimate Plan B destination”, pointing to its distance from strategically important areas and its food and energy resources.
Argentina has a history of military coups, debt defaults and runaway inflation, but Mr Milei is seeking to reposition it as a destination for international wealth. His government has cut public spending, dismantled regulations and promoted investment in the country’s oil and mineral resources.
Mr Caputo said the citizenship plan was first discussed during Mr Milei’s visit to Sun Valley, Idaho, in July 2024, when technology executives expressed interest in obtaining Argentine citizenship.
Among those linked to Argentina is Peter Thiel, a co-founder of Palantir, whose family temporarily moved to Buenos Aires in April. A company connected to his investment firm owns a mansion in the city’s Barrio Parque neighbourhood, while Mr Thiel also obtained New Zealand citizenship in 2011 through a special exemption from normal residency requirements.
Philippe Amarante, managing partner and head of government advisory at consultancy Henley & Partners, said Mr Thiel’s presence could serve as a “proof of concept” for the scheme.
Concerns over corruption and money laundering
Citizenship-for-investment programmes have faced criticism over the risk of corruption, money laundering and the concealment of criminal identities. The Financial Action Task Force has warned that criminals can use such schemes to hide illicit wealth and evade justice.
The European Union’s top court ruled Malta’s golden passport programme unlawful in April 2025, saying EU citizenship could not be sold. Other countries have also abandoned cash-for-residency schemes amid concerns including dirty money and housing affordability.
Mr Caputo said Argentine intelligence and financial oversight agencies would vet applicants’ identities, criminal records and sources of funds. The aim, he said, was to protect “the international standing of Argentine citizenship”.
