Argentina to give 'golden passport' to foreigners that make a $350,000 contribution to its treasury

Key Points:

• Argentina plans to launch a "golden passport" program by the end of 2024, allowing applicants to gain citizenship through either a $350,000 nonrefundable contribution or an $800,000 investment in government bonds held for seven years, with fees increasing for larger families.
• The initiative aims to raise up to $2.5 billion and help Argentina secure foreign currency amid looming $25 billion debt payments in 2027, as the government looks for alternative revenue sources while avoiding international bond markets.
• Argentina would become the first South American country to offer citizenship-for-investment, providing a passport accepted in over 140 countries, appealing to wealthy individuals from visa-restricted nations seeking global mobility and a stable "Plan B" destination.
• The program is inspired by interest from tech billionaires and libertarian allies of President Javier Milei, who is promoting deregulation and foreign investment in Argentina’s natural resources to attract wealthy global investors.
• Despite concerns about corruption and money laundering associated with such programs, Argentine officials promise stringent vetting and oversight to maintain the integrity and international reputation of Argentine citizenship.