Argentina unveils 'golden passport' offering citizenship for $350,000 as Milei chases dollars

Argentina will offer citizenship to wealthy foreigners in exchange for cash contributions or investments in government bonds, the first South American nation — and the first G20 country — to launch a citizenship-by-investment programme.

Economy Minister Luis Caputo unveiled the so-called “golden passport” scheme at an investor event in Paris on Friday, saying applications are expected to open before the end of the year. Applicants will have two options: a non-refundable $350,000 contribution to the Argentine Treasury, or an $800,000 investment in a new government bond that must be held for seven years. Contributions rise with family size — a spouse costs another $100,000, children under 18 $25,000 each, bringing a family of four to $500,000.

Securing dollars is critical for President Javier Milei, who faces re-election next year with nearly $25 billion in foreign-currency debt payments coming due in 2027 and limited access to international bond markets. A consortium of investment firms advising the government estimated the programme could raise up to $2.5 billion if it receives the expected number of applicants.

“The Argentine passport is highly valued, accepted in more than 140 countries,” Caputo said. The Economy Ministry said applications would face “a rigorous evaluation process designed to preserve national security, the integrity of the financial system and the international prestige of Argentine citizenship,” with anti-money-laundering measures.

The announcement is likely to face pushback from Milei’s opponents ahead of next year’s elections, amid a wave of nationalist sentiment. Investment migration advisers called it a landmark: the largest country, by far, to ever sell citizenship directly, and a potential threat to the five Caribbean nations that rely on passport-sale revenues.