Argentina Planning $500,000 Citizenship by Investment Program

In a landmark policy shift aimed at attracting foreign capital, the Argentine government has announced its intention to create a new agency tasked with offering citizenship to foreigners who invest at least US$500,000 in qualifying projects within the country.

The initiative, first reported by TN, marks the country’s first formal attempt to link citizenship acquisition to foreign direct investment, and follows recent moves to tighten enforcement of the rules for immigration under ordinary paths.

A Dedicated Agency for CBI

According to government sources speaking to TN, the Ministry of Economy will establish a specialized agency to oversee the evaluation and certification of eligible investments. This agency will coordinate with the Ministry of the Interior, the Foreign Ministry, and the National Directorate of Migration to ensure a streamlined process for investors seeking citizenship. The agency, acknowledged representatives from the Casa Rosada, will draw from the US model, including the Select USA agency.

iProfessional reports that the entity will be formalized within the framework of the immigration reform the government will present this week through an emergency decree. The text is currently under review by the Legal and Technical Secretariat, headed by María Ibarzabal. The government said the initiative will be embodied in two separate decrees, either of which might be challenged in court, and that it therefore preferred “to take a little longer to release it rather than have it halted as soon as it’s published.”

Under this framework, investors will need to contribute at least US$500,000 to projects that promote economic development and job creation.

Note that the price point is precisely that suggested by IMI when we first began discussing the topic on X in November 2023:

Beyond confirming that the investment must be directed toward productive projects, the government has not clarified which sectors or geographic regions it will prioritize. Analysts expect that sectors such as agribusiness, energy, technology, and tourism infrastructure may be among the main targets, given their potential for high impact and scalability.

The program aims to distinguish itself from more transactional Citizenship by Investment (CBI) schemes by emphasizing long-term, merit-based contributions to Argentina’s economy, rather than passive real estate purchases or donations.

Argentina is currently undergoing sweeping Austrian School economic reforms under President Javier Milei. The new policy is designed to position Argentina as an attractive alternative for high-net-worth individuals looking for a second passport or global mobility hedge.

IMI Pro members have been aware of this potential development already since Q3 2024, when we reported the following in our Private Briefing:

No South American country has had a citizenship by investment program since Peru’s shortlived $25,000 CIP in the early 1990s. Now, IMI understands that at least two separate conversations are taking place to bring one about.

At least two parties are involved; one is a well-known RCBI firm, and the other is a consortium of two other big names in the industry. 

An Argentina CIP would be a huge achievement for the market. As I have argued in the past on social media, the country could likely raise more than $2 billion a year through a donation-based CIP. 

It would instantly become the second-most valuable citizenship on the market, creating a tier of its own: 

Argentine citizenship is less valuable than Malta’s, which provides settlement rights in 30 European countries, but more valuable than that of Turkey (which doesn’t have Schengen-travel) and Caribbean (which has Schengen travel but limited settlement rights). 

Argentine citizenship provides settlement rights in the nine South American countries that are party to the Mercosur Residency Agreement, a leading Supranational Settlement Bloc (SSB), as well as visa-free travel to 172 destinations including Schengen (more than any Caribbean CBI country). 

An Argentina CIP priced at $500,000 could garner in the region of 2,000 applications a year, raising US$2.5 billion. After a few years of marketing, likely more.

The proposal will need to be formalized through a legislative process or executive decree, and implementation details – such as due diligence requirements, timelines, and naturalization procedures – are expected to follow in the coming weeks.