Argentina to sell citizenship to foreigners for US$350,000 to raise dollars

Argentina's government has unveiled a citizenship-by-investment program, allowing foreigners to obtain an Argentine passport by making a non-refundable US$350,000 contribution to the Treasury or purchasing US$800,000 in government bonds over seven years. Applications will open before the end of the year, with the program announced by Economy Minister Luis Caputo and Cabinet Chief Diego Santilli during Argentina Week, led by President Javier Milei.

The program aims to attract foreign currency, as the Treasury faces substantial debt payments in 2027. A family with two minor children would pay a total of US$500,000. The Argentine passport is highly valued, accepted in over 140 countries, including those in the Schengen area, where citizens do not require a visa. The program emerged in July 2024 when US technology executives showed interest during President Milei's visit to Sun Valley, Idaho.

The legal basis was established in May 2025, tightening naturalisation requirements and creating an investment route. Argentina would be the first South American country to offer such a program. The international tender to run the program was cancelled in April 2025. Critics argue that such programs are vulnerable to corruption, potentially used to conceal identities, launder money, and evade justice.

To ensure the program's integrity, Caputo stated that intelligence services and financial oversight bodies would vet applicants' identities, criminal records, and sources of funds.