Argentina will sell citizenship to wealthy foreigners for a nonrefundable $350,000 contribution, Economy Minister Luis Caputo announced on Friday, October 2, 2026, at an investor event in Paris. Applications are expected to open before the end of the year.

The "golden passport" scheme gives applicants two options:

• A nonrefundable $350,000 contribution to the Argentine Treasury
• An $800,000 investment in a new government bond that must be held for seven years

Contributions scale with family size. Officials said a family of four should expect to pay $500,000.

Why is Argentina doing this?

The programme is a dollar-raising exercise. Argentina's Treasury faces nearly $25 billion in foreign-currency debt payments coming due in 2027, and the government has held off returning to international bond markets, narrowing its financing options. President Javier Milei also faces re-election next year.

A consortium of investment firms advising the government estimated the programme could raise up to $2.5 billion if applications meet expectations.

What does the Argentine passport offer?

"The Argentine passport is highly valued, accepted in more than 140 countries," Caputo said. Those destinations include China, Russia, Europe's Schengen area and most of Latin America — all reachable without a visa in advance.

For wealthy applicants from countries facing visa restrictions, whether in Southeast Asia or the Arab world, Argentine citizenship could simplify travel and international business, said Kristin Surak, a professor at the London School of Economics and author of "The Golden Passport: Global Mobility for Millionaires."

"It's not only the benefits that you get within Argentina," she said. "You also get benefits globally in terms of where you can go."

How does it compare with other programmes?

About 60 countries offer residency in exchange for one-off investment — the United States launched its own "gold card" programme last year under President Trump. Full citizenship-for-investment programmes are rarer: only about a dozen countries run active schemes, mostly small Caribbean island states.

Argentina, a G20 nation of 46 million people, would become the first South American country to offer citizenship for investment.

Industry experts note the clientele has shifted since the COVID-19 pandemic, with more Americans and Europeans seeking a second passport as a hedge against geopolitical uncertainty.

"The Southern Cone of South America is the ultimate Plan B destination," said Christian Nesheim, editor of Investment Migration Insider. "It's not on the way to anywhere strategically important. It's a region that's always staying out of global armed conflict."

Caputo said the idea originated during Milei's July 2024 visit to Sun Valley, Idaho, when tech executives expressed interest in Argentine citizenship. Milei has cultivated ties with libertarian tech billionaires, including Elon Musk and Peter Thiel, who temporarily moved his family to Buenos Aires in April. Corporate records obtained by the Associated Press show a company linked to Thiel Capital owns a $13.5-million mansion in the Barrio Parque neighbourhood.

"I think that this 'Peter Thiel in Argentina' story is maybe a bit of a proof of concept," said Philippe Amarante of Henley & Partners, a consultancy that helps clients obtain passports worldwide.

What checks will applicants face?

Golden passport programmes have long drawn criticism. The Financial Action Task Force, the global money-laundering watchdog, has warned that criminals exploit such schemes to conceal identities, launder illicit wealth and evade justice. In April 2025, the European Union's top court ruled Malta's golden passport programme unlawful, declaring that EU citizenship could not be sold.

Caputo said intelligence and financial oversight agencies will vet applicants' identities, criminal records and sources of funds. The aim, he said, is to protect "the international standing of Argentine citizenship."

Full eligibility rules and application procedures have not yet been published. Prospective applicants should monitor official announcements from the Argentine government for the definitive terms before the programme opens.