Argentina prepares ‘golden passport’ program for foreign investors

The government of President Javier Milei is preparing a scheme that would grant Argentine citizenship to foreign nationals with substantial wealth in exchange for payments or significant investments. The initiative aims to bring new financing and dollars into the country.

Economy Minister Luis Caputo announced the program, called the “golden passport,” during a meeting with investors in Paris. According to him, applications are expected to open before the end of this year.

The scheme offers applicants two alternatives: paying 311,000 euros as a non-refundable contribution to Argentina’s Treasury, or investing 711,000 euros in a new government bond, which they would have to hold for seven years.

The cost will also be determined by the number of family members. For a family of four, the contribution is expected to be around 444,000 euros.

The program is being considered as Argentina faces significant financing needs. During 2027, the Treasury is expected to repay around 22 billion euros in foreign-currency debt.

A consortium of investment companies serving as an adviser to the government estimates that, if the expected number of applicants is registered, the scheme could generate up to 2.2 billion euros.

Dozens of countries have implemented similar programs, known as “golden visas,” to attract foreign investment. However, schemes that grant citizenship in exchange for investment are less common: they provide applicants not only with the right to reside, but also with the country’s passport.

If implemented, the initiative would make Argentina the first country in South America to have a program of this kind.

Caputo said the Argentine passport allows visa-free travel to more than 140 countries, including destinations in Europe, Asia and Latin America.

According to experts in investment migration, this could be particularly attractive to wealthy people from countries where citizens face numerous restrictions on international travel.

These programs are also attracting a growing number of Americans and Europeans who, amid geopolitical uncertainty, are seeking an alternative base abroad.

Programs offering citizenship in exchange for investment have long been criticized for their potential to encourage corruption and money laundering.

The Financial Action Task Force, the international organization combating money laundering, has warned that these programs could be used by people involved in crime to conceal their identity or wealth, as well as to evade justice.

In April 2025, the European Union’s highest court ruled that Malta’s “golden passport” program was illegal, arguing that EU citizenship cannot be sold.

Caputo said that, to reduce the risks, applicants would be vetted by intelligence services and financial oversight authorities. The checks will cover their identity, criminal record and the source of their funds.

The Argentine minister said the main objective is to protect the “international reputation of Argentine citizenship,” while the country seeks to attract foreign capital and wealthy investors.