The government of Argentine President Javier Milei declared yesterday that the country would provide citizenship to foreigners who invest at least $350,000 in the country.
In 2025, the South American’s second-largest economy had the least foreign direct investment of any major Latin American nation, the Organization for Economic Cooperation and Development (OECD) said.
AFP says that the government’s announced Citizenship by Investment Program offers two “simple and transparent mechanisms” to get an Argentine passport.
Investors may choose to make a “direct, non-refundable donation of $350,000 to the National Treasury,” or “subscribe to a specially constructed government bond of $800,000.
Applicants’ spouses and children may also obtain citizenship, for a donation of $100,000 to the Treasury, or $25,000 if under 18.
The administration declared that “the resources gained will be used to continue reinforcing the fiscal and financial situation of the Argentine Republic.
The economy ministry stated on X the investments would be subject to a “rigorous evaluation process (…) guaranteeing the traceability of funds, the prevention of money laundering and national security.”
The program follows days after the Supreme Court lifted restrictions on foreigners buying rural land.
A 2023 decree by Milei removed a 15 percent ban on foreign ownership of such land that had been in effect since 2011 and the court affirmed it on Tuesday.
Veterans of Argentina’s 1982 battle with Britain over the Falkland Islands, known to Argentines as Las Malvinas, strongly condemned the decision, accusing Milei of “putting the Republic of Argentina up for sale.”
An opposition demonstration has been scheduled for next week to denounce the change in the land ownership law, which it will try to stop in Parliament.
Argentina garnered $3.134 billion in foreign direct investment last year, a fraction of the $76.877 billion that Brazil attracted and the $40.871 billion that Mexico obtained, according to the OECD.
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