By Leila Miller
BUENOS AIRES, Oct 2 (Reuters) - Argentina will launch South America's first citizenship-by-investment program, Economy Minister Luis Caputo said on X on Friday.
Applications will open in the fourth quarter of 2026 and will offer citizenship through a non-refundable contribution of $350,000 or the purchase of an $800,000 public bond, the Economy Ministry said in a statement.
The plan accompanies other measures to strengthen Argentina's investment climate, the ministry said. President
Javier Milei has sought to stabilize the country's macroeconomy and increase its dollar reserves through deep austerity measures and foreign investment stimulated by an incentive program known as RIGI.
"The announcement is part of Argentina's ongoing process of opening up and international integration," the ministry added.
Officials hope the program will inject much-needed financing into Argentina's economy. Monthly inflation dropped from 25.5% when Milei took office in December 2023 to 1.7% in August, but the government faces a debt payment crunch next year that will coincide with Milei's likely reelection bid. Investors are watching for signs Milei may struggle to sustain his fiscal tightening, which could pressure the peso and unsettle markets.
Under the announced program, an applicant's spouse, as well as their children between 18 and 25 who are single and without children of their own, may also apply for citizenship by contributing $100,000 to Argentina's treasury. Children under 18 may apply by contributing $25,000.
Jeremy Savory, the United Arab Emirates-based CEO of consultancy Millionaire Migrant, which focuses on citizenship- and residency-by-investment programs, recently launched a waiting list for people interested in applying for Argentina's anticipated program. Some are clients who already have a second passport that lacks the benefits of Argentina's, such as the ability to travel visa-free to countries in the Mercosur trade bloc, he said.
"There's a lot of people interested, including people who have already been through this process before," he said.
Other countries have unveiled programs that provide an expedited path for wealthy people to live or work there. In December, US President Donald Trump, an ally of Milei, launched the "Trump Gold Card" visa program, which allows applicants to pay a $15,000 fee to the Department of Homeland Security for speedy processing. After a background check or vetting process, applicants must make a $1 million contribution to obtain the visa, which allows them to live and work in the United States.
Promoters of Argentina's new program have highlighted American billionaire Peter Thiel's activities in Argentina. While it is unknown whether he will participate, Thiel created international buzz when local media reported he had temporarily relocated his family to Buenos Aires. A regulatory filing showed his fund bought a 1% stake in Vista Energy, an oil producer operating in Patagonia.
(Reporting by Leila Miller, Editing by Aida Pelaez-Fernandez and Rod Nickel)
