President Javier Milei announced a plan to issue passports to wealthy foreigners who provide cash or investments. Economy Minister Luis Caputo unveiled this 'golden passport' scheme during an investor event held in Paris.
Applications for this citizenship-for-investment scheme are anticipated to open before the close of this year. Potential applicants face two main financial options: a nonrefundable contribution of €311,000 to the Argentine Treasury, or an investment of €711,000 in a new government bond held for seven years.
For instance, a family unit of four would need to contribute a total of €444,000. The scheme could generate up to €2.2 billion for Argentina should it attract the expected number of applicants.
The Argentine passport grants acceptance in over 140 countries. Kristin Surak, a professor at the London School of Economics and author of "The Golden Passport: Global Mobility for Millionaires," stated that Argentine citizenship could simplify international travel and business for affluent individuals from nations facing visa restrictions.
The concept for this citizenship-for-investment program originated during Milei’s visit to Sun Valley, Idaho, in July 2024. Authorities plan to prevent issues by having intelligence and financial oversight agencies vet applicants' identities, criminal records, and sources of funds, as Caputo vowed.
The idea gained some visibility after Peter Thiel temporarily relocated his family to Buenos Aires in April. A company connected to Thiel owns a mansion valued at €12 million in Barrio Parque, Buenos Aires.
Christian Nesheim, editor of Investment Migration Insider, described the Southern Cone of South America as the ultimate Plan B destination, noting it remains outside global armed conflict.
