Argentina has begun pitching a "golden passport" scheme designed to attract wealthy foreigners, as the debt-saddled South American nation searches for new revenue sources.

Newsday first reported the proposal. Under the plan, Argentina would offer residency rights — and potentially a path to citizenship — to affluent foreign nationals in exchange for investment in the country.

The scheme signals a shift for Argentina, which has historically granted citizenship relatively freely compared with countries that tie nationality to financial contribution. The proposal arrives at a time of severe fiscal strain, with Buenos Aires carrying one of the heaviest debt burdens in the region.

Who would be affected

The programme targets high-net-worth individuals abroad who want Argentine residency or nationality. Governments typically structure such schemes around a minimum investment threshold, with applicants receiving residency permits first and citizenship after a qualifying period.

Argentina has not yet published full eligibility criteria, investment quotas, caps, or an effective date. Until the government releases official programme rules, no application steps exist for prospective applicants to follow.

What changes and what does not

For now, Argentina's standard immigration routes remain the only available options. Foreigners can still apply for residency through conventional channels, such as work, family, or retirement categories, under existing national immigration law.

The "golden passport" proposal would sit alongside these routes rather than replace them, if enacted.

Why Argentina is acting now

The government frames the initiative as a way to draw capital and high-spending residents into a struggling economy. Countries that run investment migration programmes — including several in the Caribbean and Europe — use them to raise non-tax revenue, though such schemes have drawn scrutiny from international bodies concerned about money laundering and security vetting.

Argentina's pitch follows growing global interest in second citizenship among wealthy individuals, and positions the country to compete with established investment migration destinations.

What to watch

Prospective applicants should track official announcements from Argentine immigration authorities for the programme's launch date, investment thresholds, and application procedure. No deadline or cap has been confirmed, because the scheme remains at the proposal stage.

Passport File will monitor the rollout and report exact figures — minimum investment amounts, residency-to-citizenship timelines, and quotas — once the government publishes them.

This article reports on a government programme at the proposal stage. It does not constitute legal advice. Readers should consult official Argentine government sources and qualified immigration counsel before making decisions.