Pay for passports: Milei government unveils citizen by investment scheme
Applications to open in fourth quarter as government pitches citizenship programme to foreign investors; Would cost around US$5000 for family of four – applicant, spouse and two minors – to gain Argentine passports. Leer más
Argentina's President Javier Milei's government has introduced a new scheme to grant citizenship to foreigners investing a minimum of US$350,000 in the country. The Citizenship by Investment Programme was unveiled in Paris at Argentina's Embassy during the Argentina Week investment roadshow. Two mechanisms are proposed: a direct contribution of US$350,000 to the National Treasury or the subscription to a US$800,000 government bond.
Spouses and children are also eligible for citizenship, with the latter's contribution depending on age. The government aims to bolster its fiscal and financial position with the funds raised. All investments must comply with stringent money-laundering prevention rules. The application process will involve rigorous checks by multiple government bodies before the National Directorate of Migration approves or rejects the application.
This move follows a Supreme Court ruling lifting restrictions on foreign land purchases by Milei's government, despite an opposition attempt to block it in Congress.
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