Argentina announced a new citizenship program allowing wealthy foreigners to obtain citizenship by making a $350,000 nonrefundable contribution to the Treasury or investing $800,000 in government bonds. The scheme, unveiled on Friday by Economy Minister Luis Caputo at an investor event in Paris, is expected to open for applications before the end of the year. Families of four would pay $500,000, officials said, as part of President Javier Milei’s efforts to secure dollars amid the country’s debt challenges.
The government’s plan offers two routes: a direct cash payment or a bond investment that must be held for seven years. The program aims to generate much-needed foreign currency as Argentina faces nearly $25 billion in foreign-currency debt payments due in 2027. The Treasury has avoided returning to international bond markets, prompting the search for alternative revenue sources. A consortium of investment firms advising the government estimated the program could raise up to $2.5 billion if it attracts the expected number of applicants.
Golden visa and citizenship programs have become increasingly common among countries seeking to attract wealthy foreigners. Around 60 nations offer residency or citizenship in exchange for investments, helping cash-strapped governments boost foreign currency reserves. Argentina’s program stands out for its relatively high thresholds and the inclusion of a bond investment option, reflecting the government’s focus on long-term financing amid its debt burden. The initiative is part of broader efforts by Milei’s administration to stabilize the economy ahead of the 2027 elections.
Applications for the citizenship program are expected to open before the end of this year, according to fortune.com. The government’s goal is to raise up to $2.5 billion through this initiative, providing a new source of dollars to manage Argentina’s upcoming debt obligations.