{
  "id": 11606329,
  "title": "Argentina wants foreign cash — and is offering citizenship in return",
  "url": "https://urgent.news/2026/10/03/argentina-wants-foreign-cash-and-is-offering-citizenship-in-return",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-03T04:40:31.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/money/2026/10/03/argentina-wants-foreign-cash-and-is-offering-citizenship-in-return/237510"
  },
  "original_language": "en",
  "account": "BUENOS AIRES, October 3 — Argentina's government revealed plans on Wednesday to offer citizenship to foreigners who invest a minimum of US$350,000 (RM1.5 million) in the nation. The Organisation for Economic Cooperation and Development (OECD) indicates that Argentina has lagged behind Brazil and Mexico in foreign direct investment (FDI) last year. President Javier Milei, a free-market advocate, has implemented fiscal reforms including reduced public spending and relaxed trade barriers to enhance the country's competitiveness and replenish dwindling dollar reserves. However, investors remain skeptical about the sustainability of Argentina's volatile economy, as noted by economist Marcelo Elizondo.\n\nTo coincide with Argentina Week in Paris, the government proposed two \"simple and transparent mechanisms\" for obtaining an Argentine passport. These include making a non-refundable direct contribution of US$350,000 to the National Treasury, or subscribing to an US$800,000 government bond specifically created for the purpose. Spouses and children of applicants can also acquire citizenship by contributing US$100,000 or US$25,000, respectively, to the Treasury. The funds raised will be utilized to further bolster Argentina's fiscal and financial standing. The Economy Ministry assured that investments will undergo a thorough evaluation to uphold traceability, prevent money laundering, and ensure national security.\n\nNevertheless, some analysts harbor reservations about the potential investors attracted by this scheme. Economist Pablo Tigani, known for criticizing Milei's policies, raised concerns that the program might inadvertently invite drug traffickers or individuals with dubious backgrounds who are barred from entering other countries. Milei visited Paris this week to engage with investors, signing several investment deals, such as France's TotalEnergies pledging US$10 billion for oil and gas exploration in Patagonia, and Swiss mining company Glencore committing US$4 billion towards a copper project.\n\nThe Citizenship by Investment Program is set to be implemented later this year, following the Supreme Court's recent decision to lift restrictions on foreign ownership of rural land. This ruling overturns a 15-percent cap on foreign land purchases, which has been in effect since 2011. The move has sparked protests, with veterans of Argentina's 1982 war with Britain over the Falkland Islands (Las Malvinas) criticizing Milei for \"selling the Republic of Argentina.\" The opposition plans to challenge the decision in Parliament. According to the OECD, Argentina received US$3.134 billion from foreign direct investment in 2022, considerably less than Brazil's US$76.877 billion and Mexico's US$40.871 billion.",
  "summary": "BUENOS AIRES, Oct 3 — Argentine President Javier Milei’s government said yesterday that the country would of...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}