Argentina offers citizenship to foreigners investing $350,000

Argentina's government has introduced a citizenship by investment programme, offering passports to foreigners who invest in the country. According to the Buenos Aires Times, the programme, also known as a "golden passport," was unveiled in Paris and is the first of its kind in South America.

To secure citizenship, foreigners have two options. They can make a non-refundable payment of $350,000 to the national Treasury. Alternatively, they can buy a government bond worth $800,000 that will be created specifically for the citizenship programme.

The programme includes measures to prevent money-laundering and applications will be subject to a rigorous evaluation process. The funds collected will be used to strengthen Argentina's fiscal and financial position.

Brief written by urgent.news from Punch, Punch Nigeria, Buenos Aires Times — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.