A real Plan B is not just a passport. It is a place you would send your children to school, run a business, and be treated in a hospital you trusted.
David Lincoln Founder and Chief Executive, Lincoln Global Partners
Presented in Paris, not yet open
Argentina's Minister of Economy, Luis Caputo, presented the Citizenship by Investment Programme in Paris during Argentina Week, with launch expected in the fourth quarter of 2026. The terms in this guide reflect the minister's statement as relayed to IMI Daily by members of AMIGO, the five-firm consortium advising the government, who attended. No official text has yet been published. Until the implementing rules are published in Argentina's Official Gazette (Boletín Oficial), treat every threshold, fee and timeline as subject to confirmation. We update this page the day that happens.
Not live yet. The programme has been presented, not opened. No application can be filed until the government publishes the implementing rules in the Official Gazette, the accreditation criteria for agents (expected in about a month), the fee schedule, and the application procedure and processing times. We will update this guide as each appears.
For two years, Argentina's citizenship by investment programme has been the most closely watched launch in the investment migration industry. Today it moved from expectation to announcement.
On the terms presented, Argentina will offer the strongest passport available through any citizenship by investment programme in the world, residency rights across most of South America through Mercosur, citizenship of a G20 economy of 46 million people, a statutory tax carve out written specifically for investor citizens, and, under the existing framework, no prior residence requirement. No programme in the history of this industry has combined all five.
It is also the first citizenship by investment programme in South America since Peru closed its short-lived scheme in 1993, and only the second ever offered by a G20 country, after Türkiye in 2017.
This guide is the most complete account of the programme available. It covers what was announced and the legal road that led here, exactly what it costs for different families, how the donation and bond routes compare, how Argentina stands against every other citizenship by investment programme in the world, the tax position, who the programme suits and who it does not, how to prepare your file now, and the honest risks.
01 / At a glance
The programme terms
Argentina's programme offers two routes. A non-refundable contribution to the National Treasury starting at US$350,000 for the principal applicant, or the purchase of a US$800,000 government bond created for the programme, understood to be a seven-year bond paying no interest. On either route, family members join by making the same additional contributions: US$100,000 for a spouse or for an unmarried child aged 18 to 25 without children, and US$25,000 for each child under 18. Launch is expected in Q4 2026.
| Term | Position as presented | Status |
|---|---|---|
| Donation route | US$350,000 non-refundable contribution to the National Treasury, principal applicant | reported |
| Bond route | US$800,000 government bond created for the programme, principal applicant | reported |
| Bond terms | Seven-year term, no interest, principal returned at maturity | understood, not confirmed |
| Spouse | + US$100,000 contribution, on either route | reported |
| Children aged 18 to 25 | + US$100,000 each, if unmarried, never married and without children. No proof of financial dependency required | reported |
| Children under 18 | + US$25,000 each, on either route | reported |
| Family of four, two children under 18 | US$500,000 donation route; US$950,000 bond route (US$800,000 bond plus US$150,000 in contributions) | reported |
| Expected launch | Q4 2026 | reported |
| Vetting | Led by the Agency for Citizenship by Investment Programmes with the State Intelligence Secretariat, the Financial Information Unit, the Ministry of Security and the Ministry of the Interior, to OECD and FATF standards | reported |
| Decision | National Directorate of Migration approves or rejects each application on the Agency's recommendation | reported |
| Payments | Through the formal financial system only, subject to AML and counter-terrorist financing standards | reported |
| Agent certification criteria | Expected in about a month | expected |
| Government, due diligence and processing fees | Not yet published. Budget roughly US$100,000 for a family of four until confirmed | estimate |
| Applicant cap | A cap of around 5,000 has been discussed. Not confirmed in the Paris statement | unconfirmed |
| Travel requirement | A single visit for biometrics has been anticipated. Not confirmed in the Paris statement | unconfirmed |
| Prior residence requirement | None under the investment naturalisation framework in Decree 366/2025 | existing framework |
| Processing time | Not yet published | unknown |
| Dual citizenship | Permitted. No renunciation of your existing nationality | existing law |
| Tax residency on naturalisation | Expressly excluded by Article 194 of Law 27,802 | primary legislation |
| Passport validity | Ten years for adults | existing law |
| Passport strength | 169 destinations without a prior visa, 16th in the world | current |
| Parents and other relatives | Not included in the dependants announced | not eligible, as reported |
| Real estate route | None | as presented |
| Restricted nationalities | Not yet indicated | unknown |
Four lines in that table deserve attention before you plan. The bond covers only the principal applicant, so it does not reduce the cost of adding family. Fees are not yet published, and on every comparable programme they add materially to the total. Only spouses and children are covered, and adult children qualify only up to 25 and only if they have never married and have no children. And parents are not included.
02 / The announcement
What was announced in Paris, and the legal road here
On 2 October 2026, during Argentina Week in Paris, Economy Minister Luis Caputo presented Argentina's Citizenship by Investment Programme, as relayed by members of the consortium advising the government. It follows more than a year of legal construction: two executive decrees in 2025, a statutory tax carve out in March 2026, a cancelled operator tender in April 2026 and a court ruling in June 2026 that changes to citizenship eligibility must rest on a firmer legal footing than a presidential decree.
Argentina Week Paris
Argentina Week is the government's international investment roadshow. Its first edition ran in New York in March 2026. The Paris edition, the first in Europe, ran from 30 September to 2 October 2026 and was organised by the Argentine Embassy in France under Ambassador Ian Sielecki.
The delegation was the largest Argentina has sent abroad under the current administration: President Javier Milei, Karina Milei as Secretary General of the Presidency, ministers including Luis Caputo (Economy), Pablo Quirno (Foreign Affairs), Federico Sturzenegger (Deregulation), Juan Bautista Mahiques (Justice) and Mario Lugones (Health), Central Bank president Santiago Bausili, PromArgentina head Diego Sucalesca, thirteen provincial governors, and around 700 investors, most of them European.
The headline programme centred on energy, mining and Argentina's RIGI large-investment incentive regime, with sessions at the OECD, the International Energy Agency, the International Chamber of Commerce and the Argentine Embassy. On the final day, the Minister of Economy presented the programme this industry had been waiting for. His statement, relayed to IMI Daily by members of AMIGO, the five-firm consortium advising the government, described both routes as simple and transparent, and framed the programme as part of Argentina's international opening and its reforms to attract capital. The starting price of US$350,000 is lower than the US$500,000 figure that had circulated since the programme was first floated.
How we got here
| Date | Development |
|---|---|
| May 2025 | Decree 366/2025 amends Citizenship Law 346 to create the legal concept of naturalisation on the basis of a relevant investment, without the ordinary residence requirement |
| July 2025 | Decree 524/2025 establishes the Agency for Citizenship by Investment Programmes within the Ministry of Economy and sets the administrative procedure: the Agency assesses whether an investment qualifies, and the National Directorate of Migration decides on the grant |
| December 2025 | The Ministry of Economy opens an international tender for a private operator to design, implement, launch and promote the programme |
| 6 March 2026 | Law 27,802, Article 194, passed by Congress and promulgated, provides that foreign nationals who naturalise through relevant investment are not treated as Argentine tax residents merely because they naturalised |
| 14 April 2026 | The tender is cancelled by ministerial resolution following challenges. The programme is brought in-house |
| 30 June 2026 | The decree route is ruled unconstitutional on the reasoning that citizenship confers political rights, including the vote, and changes to eligibility must be made by Congress rather than by executive decree. The government appeals |
| 2 October 2026 | The programme is presented in Paris by the Minister of Economy. Launch expected Q4 2026 |
Why the legal history matters to you
It would be easy to read that timeline as two steps forward and one step back. We read it differently. Every obstacle the programme has hit has been procedural rather than political. The government's intention has been consistent throughout, and its most important single act, the tax carve out in Law 27,802, was passed by Congress through ordinary primary legislation before a single application could be filed.
Parliaments do not legislate tax treatment for programmes they intend to abandon.
The question for an applicant is not whether Argentina wants this programme. It plainly does. The question is the legal instrument on which the final programme rests, because that determines how durable the citizenship is. A programme founded on an act of Congress is materially stronger than one founded on executive decree alone. When the implementing rules are published, that is the first thing we will check, and the first thing we will tell our clients.
03 / Cost
What it costs: donation, bond and the real total
A single applicant pays a US$350,000 donation. A couple pays US$450,000. A family of four with two children under 18 pays US$500,000. Alternatively, the principal applicant buys a US$800,000 government bond, returned after seven years, and family members pay the same contributions as on the donation route: US$950,000 in total for a family of four. Add government, due diligence and professional fees, which we estimate at roughly US$100,000 for a family of four.
Route one: the donation
The donation is a non-refundable contribution to Argentina's National Treasury. It is priced per person, in the same way as the Caribbean, Pacific and African programmes:
| Family member | Contribution (US$) |
|---|---|
| Principal applicant | 350,000 |
| Spouse | + 100,000 |
| Each child aged 18 to 25, unmarried, never married and without children | + 100,000 |
| Each child under 18 | + 25,000 |
Family members join by proving the relationship. Children aged 18 to 25 are understood not to need to prove financial dependency, but they must never have married and must have no children of their own. Parents and other relatives are not included.
Route two: the government bond
The bond route replaces only the principal applicant's US$350,000 contribution.
The principal applicant purchases a US$800,000 government bond created for the programme. It is understood to be a seven-year bond that pays no interest, with the full principal repaid at maturity. Family members then join by making exactly the same Treasury contributions as on the donation route.
So the choice between the routes is the same for every family, whatever its size: give the Treasury US$350,000, or lend it US$800,000 for seven years at no interest and get the principal back.
What a family actually pays
| Family | Donation route (US$) | Bond route (US$) | Of which returned |
|---|---|---|---|
| Single applicant | 350,000 | 800,000 | 800,000 |
| Couple | 450,000 | 900,000 | 800,000 |
| Couple + 1 child under 18 | 475,000 | 925,000 | 800,000 |
| Couple + 2 children under 18 | 500,000 | 950,000 | 800,000 |
| Couple + 3 children under 18 | 525,000 | 975,000 | 800,000 |
| Couple + 1 child aged 18 to 25 + 1 child under 18 | 575,000 | 1,025,000 | 800,000 |
| Couple + 2 children aged 18 to 25 | 650,000 | 1,100,000 | 800,000 |
Contributions and investment only. Government, due diligence, processing and professional fees are additional.
The other fees
On top of either route, expect government processing fees, due diligence fees per applicant, application fees, passport issuance and professional fees. None of these has yet been published. On comparable programmes they add materially to the headline figure, and for a family of four we would budget roughly US$100,000 until the schedule is confirmed. That puts a family of four on the donation route at roughly US$600,000 all in.
Donation or bond: how to decide
Because the bond replaces only the principal applicant's contribution, family size does not change the decision. The question is whether US$800,000 held for seven years at no interest costs you less than US$350,000 given away.
That depends on what the capital would otherwise earn, and on how you view Argentine sovereign risk. At an illustrative 5% a year, the return forgone on US$800,000 over seven years is roughly US$325,000. At that rate the two routes cost about the same, and the bond adds the risk of holding seven-year Argentine debt. At lower returns, the bond is cheaper. At higher returns, the donation is.
The donation
The simpler choice for most clients. It requires less capital upfront, carries no sovereign exposure and ends the commitment on payment.
The bond
Suits clients with capital that would otherwise sit idle, who value the return of principal and are comfortable holding Argentine debt to maturity.
The honest counterweight is risk. Argentina has defaulted on its sovereign debt multiple times in its history, most recently in 2020, and not every client will be comfortable holding a seven-year Argentine bond. That is a legitimate concern and we never dismiss it.
But Argentina is in a very different position today. Under the Milei administration the budget has moved into surplus and inflation has come down from triple digits. In 2026 all three major rating agencies upgraded Argentina within three months: Fitch to B- in May, S&P to B- in June and Moody's to B3 with a positive outlook in July. Argentina remains below investment grade, and the government's own target for reaching it is 2031. Markets also remain sensitive to the 2027 election cycle. The direction of travel is clear, but the risk is real.
A zero-coupon sovereign bond is generally treated for US tax purposes as creating original issue discount, which accrues as taxable interest each year even though no cash is received until maturity. An American on the bond route should expect annual US tax on income not yet received, for seven years. Model this with your US adviser before choosing between the routes.
04 / The case
Why this launch is historic
Almost every citizenship by investment programme in existence is run by a very small state. Argentina is a G20 economy of 46 million people, the first South American country to offer citizenship by investment since 1993, and only the second G20 country ever to do so. On design alone, it would be the most powerful citizenship by investment programme ever created.
A real country, not a travel document
The Eastern Caribbean programmes serve populations between roughly 50,000 and 110,000. Nauru has around 12,000 people. São Tomé and Príncipe, Vanuatu and Sierra Leone are small or fragile states. These programmes do something useful, and we place clients in several of them. But very few investors ever intend to live in the country whose passport they buy.
Argentina is different in kind. It has globally ranked universities, internationally regarded hospitals, one of the world's great cities in Buenos Aires, a serious agricultural, energy and mining base, and a culture close enough to Western Europe that integration is realistic rather than theoretical. Americans and Europeans have been moving there for a century and a half.
That is the test of a Plan B: would you actually be willing to live there? Schools you would enrol your children in. A professional market where you could work or run a business. Hospitals you would trust with your family. Argentina passes that test for a great many people, and almost no other country selling citizenship does.
It also matters in ways that never show up in a mobility index. An Argentine passport in a bank's compliance review reads as an ordinary national document of a G20 country, not an investment product. Clients who have experienced friction opening accounts with a small-state passport understand immediately why that is worth paying for.
Only the second G20 country
Türkiye launched in 2017 and remains a strong programme. But its passport reaches around 110 to 113 destinations, it carries no regional settlement rights, and it sits in one of the most geopolitically exposed neighbourhoods on earth. Argentina would carry a passport roughly 55 to 60 destinations stronger, a continent of settlement rights and a location about as far from conflict as an inhabited developed region gets.
The first in South America since 1993
Peru operated a short-lived citizenship by investment scheme that closed in 1993. Since then, no South American country has offered one. El Salvador, in Central America, launched its Freedom Visa in 2023 at US$1,000,000. Argentina would be the first on the South American continent in over three decades.
The five things no programme has combined
The strongest passport of any citizenship by investment programme in the world.
Settlement rights across most of South America through Mercosur.
Citizenship of a G20 economy of 46 million people.
A statutory tax carve out written specifically for investor citizens, in primary legislation.
No prior residence requirement under the investment naturalisation framework.
That combination is why the industry has watched Argentina more closely than any launch in a decade, and why we believe it will become the premium citizenship by investment programme on the market.
05 / Mobility
The Argentine passport
The Argentine passport reaches 169 destinations without a prior visa on the principal 2026 rankings, 16th in the world and level with Brazil at the top of South America alongside Chile. It opens the Schengen Area, the United Kingdom (with an electronic travel authorisation), Japan, South Korea and, under a bilateral arrangement, China. It does not open the United States, although Argentina is working to rejoin the US Visa Waiver Program.
Why published figures differ
You will see the Argentine passport quoted anywhere from about 160 to 174 destinations. Most of those figures are right on their own terms. The indices count different things: some count sovereign countries only, some include territories, some add visa on arrival and electronic authorisations. What matters is the practical shape of the access.
What it opens
- Europe: the entire Schengen Area for short stays, plus the United Kingdom subject to its electronic travel authorisation
- Asia: Japan, South Korea and, under a bilateral arrangement, China, which is a genuinely valuable addition
- The Americas: almost all of Latin America and the Caribbean
- Elsewhere: Russia, the United Arab Emirates and much of Africa and Oceania
What it does not open
The United States requires a visa. So does India, and Australia requires an online visa, along with roughly sixty other destinations that need advance permission. If part of your reason for a second passport is easier US travel, be clear-eyed: Argentina does not provide that today.
The US Visa Waiver Program: the upside not in the price
Argentina held Visa Waiver status from 1996 until 2002, when it was withdrawn after the economic collapse. On 28 July 2025, the US Secretary of Homeland Security signed a statement of intent in Buenos Aires to begin the process of Argentina's re-entry.
That process takes years. Argentina must meet strict criteria, including a US visitor visa refusal rate below 3%, and the work was reported paused in late 2025 over interagency coordination. Nobody can tell you when, or whether, it will complete.
Treat it as upside you have not paid for. If it happens, an Argentine passport acquired by investment would carry visa-free access to both the Schengen Area and the United States, a combination that has never existed in this industry. If it does not, you have lost nothing.
The E-2 investor visa
Argentina has a treaty of commerce and navigation with the United States, so Argentine citizens are eligible for the E-2 treaty investor visa. That is irrelevant to Americans, and to British clients who already hold E-2 treaty nationality. For Indian, Chinese and Nigerian clients, among others, it may be the single most valuable feature of this passport.
Spain's two-year route
Spain shortens its residence requirement for naturalisation to two years for nationals of Ibero-American countries, including Argentina, and the two countries have a dual nationality convention. This does not give you Spanish residence; you still need to qualify for that by ordinary means. But once resident in Spain, an Argentine national's clock to Spanish, and therefore European Union, citizenship is two years rather than ten.
The document itself
Adult passports are biometric, ICAO-compliant, valid for ten years and renewable at Argentine consulates worldwide. The citizenship behind the document does not expire, and it passes to your children.
06 / Settlement
Mercosur settlement rights
Argentine citizenship gives access to the Mercosur Residence Agreement, which lets nationals of participating states apply for residence in each other's countries on the basis of nationality alone, with little more than a passport, a birth certificate and a clean criminal record. For naturalised citizens, the agreement applies once citizenship has been held for five years. It is a simplified application, not European-style free movement, but it is the largest settlement footprint available through any citizenship by investment programme today.
Passport strength measures where you can visit. Settlement rights measure where you can live.
On that second measure, Argentina's case is stronger still. A Caribbean passport brings rights across CARICOM, which in practice means other small island states. Türkiye brings none. Argentina brings the ability to establish yourself across a bloc that includes the largest economies in South America.
| Status | States | What it means for an Argentine national |
|---|---|---|
| Full members | Argentina, Brazil, Paraguay, Uruguay, and Bolivia following its accession | Simplified residence procedure on the basis of nationality |
| Associate states | Chile, Colombia, Ecuador, Peru | Participate in the residence agreement |
| Further associates | Guyana, Suriname | Participation varies by state |
| Suspended | Venezuela | Rights not practically available |
Membership and associate participation have changed several times. Confirm the current position before relying on it for a specific move.
How it works in practice
The applicant presents a valid passport, a birth certificate, criminal record certificates from the countries they have lived in over the preceding period, and pays a fee. Temporary residence is granted first, typically for two years, and can then be converted to permanent residence.
You do not need to qualify under a work, investment, retirement or family category. Compare that with what an Indian, Nigerian or South African national faces to live in Brazil or Uruguay, and the value becomes obvious.
The five-year rule for naturalised citizens
The agreement draws a distinction between citizens by birth and naturalised citizens. Naturalised nationals can use it once they have held that nationality for five years. The clock starts the day you become Argentine. Plan around it rather than being surprised by it.
Where people actually want to live
This is the part of the offer that makes Argentine citizenship different from almost everything else in the market. The Mercosur bloc is not a collection of places you would pass through. It is somewhere you could build a life:
- Uruguay: the most stable and least corrupt democracy in Latin America, with territorial taxation and the region's financial safe harbour
- Brazil: a continental giant with an extraordinary coastline, and the south of the country among its safest and most prosperous regions
- Paraguay: one of the fastest-growing economies in South America, with a territorial tax system and a booming investment scene
- Chile: the most developed economy in the region, with the strongest institutions
- Colombia: a lifestyle destination with major cities and a fast-growing international community
The practical value is highest for someone who genuinely intends to move around the region: a home in Buenos Aires, a business interest in São Paulo, a tax base in Montevideo, property in Punta del Este. For a client who will live in Dubai or London and visit occasionally, Mercosur rights are an option held in reserve. Either way, it is an option no other citizenship by investment programme can give you.
Mercosur gives you a shorter queue, not the absence of a queue. Described accurately, it is still one of the best reasons to want this passport.
Matías Aguayo, Senior Consultant, Latin America, Lincoln Global Partners
07 / Strategic position
The Southern Cone: the ultimate strategic hedge
A location only hedges against global conflict if it holds three properties at once: distance from the flashpoints, non-alignment, and self-sufficiency in energy, food and water. Almost nowhere holds all three. Argentina and its Southern Cone neighbours do. The only other country that seriously competes as a complete Plan B is New Zealand, which costs around US$3 million for a resident visa rather than citizenship.
The three tests
One. Distance
Far enough from the flashpoints that a regional war is not your war. Buenos Aires is roughly 12,000 kilometres from Kyiv and Tel Aviv, 15,000 from the Indian subcontinent and 18,000 from the Taiwan Strait. There is no inhabited, developed region further from all of them at once.
Two. Non-alignment
No treaty obligation that drags you in regardless of geography. Argentina belongs to no collective defence alliance. Mercosur is an economic arrangement, not a security pact. Latin America has been a nuclear weapon free zone under the Treaty of Tlatelolco since 1967, the first populated region on earth to ban them, and South America has seen remarkably little interstate war in the modern era. Argentina maintains working relationships with the United States, the European Union, China and Brazil simultaneously.
Three. Self-sufficiency
Able to feed, fuel and water itself when supply chains stop working. This is where most remaining candidates fall, and where Argentina is strongest.
What the ground holds
| Resource | Argentina's position |
|---|---|
| Shale gas | Vaca Muerta holds the world's second-largest recoverable shale gas reserve |
| Shale oil | Among the largest globally, turning Argentina from net energy importer to exporter |
| Lithium | One of the three Lithium Triangle countries, which together hold the majority of global reserves |
| Agriculture | Among the world's largest exporters of soy, maize, wheat and beef, producing far more food than its population consumes |
| Fresh water | Shares the Guaraní Aquifer, one of the largest freshwater reserves on earth, with Brazil, Paraguay and Uruguay |
| Renewables | Patagonian wind and Andean solar among the best resource quality anywhere |
| Land | 2.8 million square kilometres, the eighth-largest country in the world |
The week this programme was presented, TotalEnergies announced close to US$10 billion of investment in Argentina, and the energy majors lined up to back Vaca Muerta. That is not a coincidence. Capital is pricing in what this ground holds.
The benchmark: New Zealand
Run the three tests against every country on earth and two names survive: Argentina and New Zealand. New Zealand has been the default answer to this question for two decades, and it deserves the reputation.
| Argentina | New Zealand | |
|---|---|---|
| What you get | Citizenship and a passport | A resident visa |
| Entry cost | From US$350,000 donation, or US$800,000 bond | NZ$5 million, roughly US$3 million |
| Money returned | Donation no; bond yes, after seven years | Yes, invested capital |
| Presence required | No prior residence under the framework; any visit requirement to be confirmed | Minimum days over a three or five-year hold |
| Time to citizenship | On approval | Around five years, after permanent residence |
| Passport strength | 169 destinations | Stronger, top 10 globally |
| Energy | Self-sufficient; produces and refines its own oil and gas | Imports all refined fuel since its only refinery closed in 2022 |
| Neighbours | Land borders with five countries; a dozen capitals within five hours | No land borders; Australia at three and a half hours |
| Alliance posture | Non-aligned | Five Eyes member |
| Status | Announced, opens Q4 2026 | Open and operating |
New Zealand wins on institutional stability, passport strength and certainty of process, and it is not close. Argentina wins on self-sufficiency, non-alignment, scale, connectivity and price, delivering citizenship rather than a visa at roughly a sixth of the entry cost. For many clients the sensible answer is that the two hedge different things.
The honest trade-off
External security and resource depth are Argentina's strongest cards. Internal economic management has historically been its weak one. The country has been volatile from the inside while remaining unusually safe from the outside. For a Plan B that is a good trade, because the risks a Plan B is meant to hedge are mostly external. But it is a real trade, and you should make it with your eyes open.
Far from the trouble, tied to nobody, and able to feed and fuel itself. Almost nowhere holds all three at once. The Southern Cone does.
David Lincoln, Lincoln Global Partners
08 / Comparison
How Argentina compares with every citizenship by investment programme
Ranked by visa-free travel across the whole field, Argentina sits first at 169 destinations, clear of St Kitts and Nevis and Antigua and Barbuda. On price it lands right next to Türkiye, the only other G20 programme: US$350,000 as a donation against Türkiye's US$400,000 real estate route. For a single applicant, Argentina costs roughly US$100,000 to US$150,000 more than the Caribbean for a tier-one passport.
The full field, ranked by mobility
| Rank | Programme | Entry from (US$) | Destinations | Notes |
|---|---|---|---|---|
| 1 | Argentina | 350,000 donation or 800,000 bond | 169 | Announced. Opens Q4 2026. Largest economy ever to offer a programme alongside Türkiye |
| 2 | St Kitts and Nevis | 250,000 | 150 | The original programme, live since 1984 |
| 2 | Antigua and Barbuda | 230,000 | 150 | Family-friendly pricing |
| 4 | Saint Lucia | 240,000 | 146 | Bond route available |
| 5 | Dominica | 200,000 | 145 | Long-running and economical |
| 6 | Grenada | 235,000 | 144 | US E-2 treaty and China visa-free access |
| 7 | El Salvador | 1,000,000 | 130 | Freedom Visa. Accepts Bitcoin or USDT |
| 8 | Nauru | 105,000 | 119 | Broad family rules |
| 9 | Türkiye | 400,000 | 110 | Real estate held three years. G20 |
| 10 | Vanuatu | 130,000 | 94 | Lost European visa-free access in December 2024 |
| 11 | Sierra Leone | 140,000 | 65 | Live since 2025 |
| 12 | São Tomé and Príncipe | 90,000 | 60 | No residence requirement before or after |
| 13 | Jordan | 1,000,000 | 54 | Small annual quota |
| 14 | Egypt | 250,000 | 52 | Contribution, deposit and real estate routes |
Entry figures are the lowest route for a single applicant before fees. Destinations are visa-free or visa on arrival. Terms change frequently; confirm before relying on any figure.
Argentina against Türkiye: two G20 programmes side by side
Türkiye is US$400,000, but that is real estate you must buy, hold for three years and eventually sell, with all the transaction costs and market risk that implies. Argentina is a straight US$350,000 donation, or a bond you get back. Argentina's passport is roughly 55 to 60 destinations stronger, includes Schengen and the UK, and comes with Mercosur settlement rights that Türkiye has no equivalent to.
Argentina against the Caribbean
Today you can buy a mid-tier Caribbean passport with Schengen access from around US$200,000 to US$250,000. On paper, Argentina's premium is US$100,000 to US$150,000 for a single applicant.
But there is a risk the Caribbean pitch usually leaves out. In June 2026, the European Commission wrote to all five Eastern Caribbean programme countries asking them to phase out their citizenship by investment programmes by June 2028, or risk their Schengen visa-free access. That process is ongoing and its outcome is not settled. Vanuatu has already lost European visa-free access. Any comparison between a Caribbean passport and an Argentine one has to put that risk on the table.
Argentina's citizenship comes from a G20 state whose visa-free relationships rest on its own standing, not on an investment programme.
What Europe once offered
Europe no longer sells citizenship. Cyprus closed its programme in November 2020 after scandal and European pressure. Malta's investment route was ruled incompatible with EU law by the Court of Justice of the European Union on 29 April 2025 and ended later that year, replaced by a merit route that excludes investment, property and donations. Bulgaria suspended its programme in 2022.
What remains in Europe are discretionary citizenship by exception routes. Malta's merit route has no published price and is not an investment programme. Austria's extraordinary merit route under Section 10(6) is decided case by case and is typically discussed in the millions of euros. Those passports reach around 184 destinations, slightly more than Argentina's, but they are not products you can plan around.
Cyprus and Malta sold mobility: a tier-one passport and the right to live anywhere in the European Union. On that single dimension, nothing available today replaces them. Argentina is a different product. It does not sell membership of a bloc. It sells a country, a continent of settlement rights and a strategic position. They sold mobility. Argentina sells the complete Plan B.
If the price does not work for you
The programme will not be attainable for everyone. Argentina also offers one of the fastest ordinary naturalisation routes in the world: two years of continuous lawful residence, through routes such as the Rentista or digital nomad visa, after which you can apply to a federal court for citizenship. That route invests your time rather than your capital, and it is something we already handle for clients. It requires genuine residence, and it makes you an Argentine tax resident, so it suits a different client.
09 / Tax
Tax: Article 194, and the Uruguay and Paraguay pairing
Argentina taxes its residents on worldwide income at up to 35% and levies an annual personal assets tax on worldwide assets. Non-residents are taxed only on Argentine-source income and Argentine assets. Tax residency is triggered by immigration status and physical presence, not nationality, and Article 194 of Law 27,802 expressly provides that naturalising through the investment route does not, by itself, make you a tax resident. Most clients pair the passport with a tax base in Uruguay or Paraguay.
Argentina is not a tax haven, and it does not need to be
Let us be honest about what Argentina is. Resident individuals pay income tax on worldwide income at progressive rates from 5% to 35%. Residents also pay Bienes Personales, the personal assets tax, on worldwide assets held at 31 December each year: foreign property, foreign bank deposits, securities and shareholdings. It applies to gross assets rather than income, every year, which for a client with a large balance sheet is a heavier structure than an income tax. VAT is 21%, and provinces levy turnover tax.
Nobody should choose Argentina as a tax base. You are buying a passport, a Mercosur foothold and access to a country you may want to spend time in. You are not buying a tax outcome.
What triggers Argentine tax residency
Under Article 116 of the Income Tax Law, tax residency arises on obtaining permanent migration residence, or after twelve continuous months in Argentina under temporary authorisations. A separate rule treats more than six months of presence in a fiscal year as residence for limited purposes, such as personal deductions; it does not by itself trigger worldwide taxation.
Residency is lost on acquiring permanent residence elsewhere or on continuous absence of more than twelve months, subject to formal notification.
Article 194 of Law 27,802: the provision that makes the programme work
Argentine tax law long treated Argentine nationals as tax residents unless they had positively lost that status. Read literally, the act of naturalising would have pulled an investor's worldwide income and assets into the Argentine tax net from day one. No one pays for a passport that costs them 35% of their global income.
Congress fixed this. Article 194 of Law 27,802, promulgated on 6 March 2026, added three paragraphs to Article 116 of the Income Tax Law providing that foreign nationals who acquire citizenship through relevant investment are not treated as tax residents merely because they naturalised.
| Question | Position |
|---|---|
| Does naturalising by investment make you an Argentine tax resident? | No. That is the purpose of the provision |
| Are you exempt from Argentine tax altogether? | No. You remain taxable on Argentine-source income like any non-resident |
| What if you then live in Argentina for twelve continuous months? | You become a tax resident on worldwide income, like anyone else |
| What if you obtain permanent migration residence? | You become a tax resident. The carve-out covers naturalisation, not immigration status |
| Is it in a decree or in primary legislation? | Primary legislation, passed by Congress |
The practical rule we give clients is simple. Article 194 protects the act of naturalising. It does not protect you from living in Argentina.
The banking point most guides miss
Argentina participates in the Common Reporting Standard. Under international guidance, banks apply enhanced questioning where an account holder claims tax residence in a jurisdiction with a residence or citizenship by investment scheme, and Argentina now appears on that list. Presenting an investor citizenship to a bank as evidence of tax residence does not work. The carve-out decides what Argentina taxes; it does not decide where you are tax resident in anyone else's eyes. You need a genuine tax residence somewhere.
The pairing: Argentina for the passport, Uruguay or Paraguay for the base
This is the structure our Latin America desk builds most often, and it is one neither country offers alone.
| Argentina | Uruguay | Paraguay | |
|---|---|---|---|
| What it provides | Citizenship, passport, Mercosur rights | Residence, tax base, banking | Residence, tax base, low cost |
| Tax system | Worldwide for residents | Territorial, with a holiday regime for new residents on foreign investment income | Territorial |
| How you get it | Qualifying investment | Simplified Mercosur application as an Argentine national, or standard routes | Simplified Mercosur application, or standard routes |
| Distance from Buenos Aires | – | One hour by fast ferry to Colonia | Under two hours by air to Asunción |
Argentine citizenship, held without becoming Argentine tax resident. A genuine tax residence in Uruguay or Paraguay, both of which leave most foreign-source income outside the net. And your life split between Buenos Aires, Punta del Este, the south of Brazil, wherever you love.
Uruguayan and Paraguayan tax residency are real statuses with real requirements, generally involving physical presence or defined investment, and Uruguay's regime for new residents has conditions and time limits that were revised in 2026. This is a structure to build with local counsel, not one to assemble from a web page.
10 / Suitability
Who this programme is for
For years, clients bought second citizenship for travel. That has changed. Today the dominant motive is a real Plan B: political hedging, jurisdictional diversification and somewhere substantial to go. Argentina suits that buyer better than any programme on the market. How much it adds depends heavily on the passport you already hold.
The shift in why people buy
Industry surveys show travel freedom used to be the main reason for a clear majority of investment migration clients. By 2025 it had fallen to around one in four. What replaced it is concern about where the world is heading: polarisation, government overreach, conflict and the fragility of supply chains. Americans are now the largest and fastest-growing client group in this industry, with Europeans, and Britons especially, close behind.
That buyer is not shopping for a travel document. They are shopping for a country. That is exactly what Argentina offers.
United States clients
A second citizenship changes nothing about your US tax position while you remain American, because the United States taxes on citizenship. You continue to file on worldwide income every year.
Its real functions are political optionality and, for a minority, the prerequisite to expatriation, since the United States will not let you renounce into statelessness. Before that becomes relevant, understand the reporting that comes with any Argentine engagement: FBAR and FATCA filings on foreign accounts, the punitive PFIC treatment of foreign investment funds (hold Argentine exposure directly, never through local mutual funds), the phantom income created by the zero-coupon bond route, and the Section 877A exit tax if you do eventually renounce. There is also no income tax treaty between Argentina and the United States, so becoming tax resident in both would be a scenario to avoid rather than manage.
British, European, Canadian and Australian clients
Your existing passport is already stronger than Argentina's, so this is not about mobility. The case is optionality: a citizenship in a different hemisphere, outside your own political and legal system, with settlement rights across a continent. Clients who lived through pandemic border closures tend to need no further explanation.
For British clients, there is a useful onward step: Argentina counts as an Ibero-American country for Spain's two-year naturalisation route, which British citizenship does not. For Canadian and Australian clients, remember that departure tax on ceasing residence is a separate cost to model before any move.
Indian clients
India does not permit dual citizenship. Acquiring Argentine nationality voluntarily ends Indian citizenship, and the Indian passport must be surrendered. Overseas Citizen of India status restores lifelong visa-free entry and most economic rights, but not the vote or agricultural land.
The gain is the largest of any nationality we serve: from roughly 55 destinations without a prior visa to 169, including Schengen, the UK, Japan and South Korea, plus eligibility for the US E-2 investor visa. Funding requires planning, because the Liberalised Remittance Scheme limits annual outflows per individual below the donation threshold.
Nigerian clients
Nigeria preserves citizenship by birth notwithstanding the acquisition of another nationality, so for Nigerians by birth this is purely additive. The passport moves from roughly 45 destinations to 169, and the E-2 route to the United States opens. The obstacles are foreign exchange access through official channels and the depth of source of funds evidence expected. The answer is over-documentation, prepared before anyone asks.
Clients from the Gulf, Asia and Africa more broadly
For any client whose current passport requires advance visas for Europe, the UK or Japan, Argentina is a transformation rather than an upgrade. Combined with Mercosur rights and the E-2 treaty, it gives a family a second home base and a global business passport in a single application.
Who it is not for
If you need visa-free entry to the United States today, Argentina does not provide it. If your sole objective is the right to live and work in the European Union, a European residence route will serve you better. And if you are looking for the cheapest possible second passport, there are programmes from under US$100,000. Argentina is a premium programme, priced as one.
11 / Process
Process, timeline and preparing your file
Applications are expected to open in Q4 2026. Each application will be assessed by the Agency for Citizenship by Investment Programmes, working with Argentina's intelligence, financial intelligence, security and interior authorities, and decided by the National Directorate of Migration. Criteria for certifying agents are expected in about a month. You cannot file yet, but you can, and should, prepare your file now, so it is ready for the opening cohort.
How the process is expected to work
Based on the framework in Decree 524/2025 and the terms presented in Paris, we expect the sequence to run broadly as follows. Final steps will be confirmed by the implementing rules.
- Assessment and preparation. Eligibility review, family structure, choice of route, and a private due diligence check before anything is filed
- Document assembly. Civil documents, police certificates and source of funds evidence, apostilled and translated into Spanish
- Submission. The application is lodged with the Agency for Citizenship by Investment Programmes
- Due diligence and assessment. The Agency leads the review with the State Intelligence Secretariat, the Financial Information Unit, the Ministry of Security and the Ministry of the Interior, covering identity, the traceability and lawful origin of funds, assets and finances, jurisdictional risk, criminal and reputational records and immigration history, to OECD and FATF standards
- Investment. The contribution is paid, or the bond is purchased, through the formal financial system and subject to anti-money laundering and counter-terrorist financing standards
- Decision. The Agency sends its recommendation to the National Directorate of Migration, which approves or rejects the application
- Biometrics. Enrolment of biometrics, expected to require a visit to Argentina
- Passport issuance. Argentine national identity documents and passport are issued
Processing time has not been published, and no application has yet been processed to test it. We will not quote a timeline until we have seen one completed.
What you can prepare now
Nothing can be filed yet. Anyone offering to submit an application on your behalf today is offering something that does not exist. What the wait gives you is time to do properly what most applicants rush, and files assembled under deadline pressure are the ones that get refused.
1. Source of funds
The longest lead item by a wide margin. Trace the specific funds you intend to use, not your wealth in general: audited accounts, sale agreements, tax filings and bank records showing how the money accumulated.
2. Police certificates
From your country of nationality and every country you have lived in for more than a year. They have validity windows and can expire while you assemble everything else, so sequence them carefully.
3. Civil documents
Birth and marriage certificates, apostilled and translated into Spanish by a sworn translator. These are reusable across any Latin American application.
4. Family evidence
Proof of each family relationship, and for children aged 18 to 25, evidence that they have never married and have no children. Financial dependency is understood not to be required. Civil status certificates can take longer to obtain than families expect.
5. Private due diligence review
We run the refusal analysis before anyone files. Adverse media, politically exposed connections, prior visa refusals and the provenance of cryptocurrency are the four issues that most often cause problems.
6. Funding mechanics
Moving US$350,000 to US$800,000 across borders takes planning, particularly from jurisdictions with remittance limits or foreign exchange controls. Start this conversation early.
Source of funds, police certificates, apostilles and translations typically take six to twelve weeks to assemble properly. A file started now can be complete before applications open. A file started at launch will not be.
What we will not do
We do not take payment toward a government contribution before the rules are published, and we would be cautious of any arrangement where your capital leaves your control for a programme that has not opened. We do not sell allocations against the 5,000 cap, because no allocation mechanism exists to sell.
Wait on the money. Move on the paperwork.
12 / Risks
The risks, and how this plays out for the region
The four real risks are execution, state capacity, the legal and political foundation, and the cap. None of them changes the strength of the programme's design. All of them are reasons to choose your adviser carefully and prepare early. If Argentina gets this right, we expect other Southern Cone governments to take notice, and the region to become investment migration's next great theatre.
What could go wrong
Execution. Everything depends on how the programme runs. This industry has seen programmes launch and fade: Moldova opened in 2018 and suspended in 2020, Montenegro closed after a few years, and North Macedonia never gained real traction. A programme that is excellent on paper can still stumble in practice.
State capacity. After the operator tender was cancelled, the programme is being run in-house. Argentina has cut a great deal of bureaucracy, which is the explicit purpose of this government, but fewer officials can also mean slower processing in the early months. The first cohort will test the system.
The legal and political foundation. The decree route has already been through the courts once, and the President faces re-election in 2027. A citizenship programme needs to outlast any one government. The instrument on which the final programme rests, and how firmly it is anchored in an act of Congress, will matter more than any single figure in this guide.
The cap. A cap of around 5,000 applicants has been discussed, though it was not confirmed in the Paris statement. If it holds, set against the demand seen for Türkiye, Portugal and the Caribbean, we think it could fill within two to three years, possibly sooner. That is our estimate, not a forecast anyone can guarantee.
Pricing and fees. Final fees have not been published, and the total cost of the programme will only be clear once they are.
And what could go right
When programmes are run well, they transform a country. Portugal's Golden Visa helped put Lisbon on the global map after the financial crisis. The Caribbean programmes have built hotels, housing and, in Dominica's case, an airport. If Argentina gets this right, the impact on its economy, and on its investors, could be very significant.
The Southern Cone as investment migration's next great theatre
For a decade, this industry stood on two pillars: Europe and the Caribbean. We believe Latin America is becoming the third, and of all its regions, the Southern Cone has the most potential.
Argentina is the moment that tests that idea, and there are really only two ways it goes.
The best case. The programme launches well, runs properly and becomes one of the premium offerings in the entire industry. When a G20 country proves the model works, its neighbours take notice, exactly as Europe did after Portugal launched its Golden Visa in 2012. There has already been talk of Chile watching closely. Uruguay is in a remarkable position and could launch an investor programme of its own. Brazil could build on what it already offers investors. Even Bolivia, which today has very limited pathways, could look at something.
The worst case. The rollout is messy, the programme stalls, and it leaves a bad taste that discourages other governments in the region from launching anything at all.
We do not think that is where this is heading. Either way, the Southern Cone is about to receive far more attention from internationally mobile families than it ever has.
I have said for over a year that this would be the biggest citizenship by investment launch of the decade, perhaps in the history of our industry. Today, it is here.
David Lincoln, Founder and Chief Executive, Lincoln Global Partners
13 / Obligations
Obligations of Argentine citizenship
Argentine citizenship carries compulsory voting between the ages of 18 and 70, which is not meaningfully enforced against citizens living abroad. Military conscription was suspended in 1994. Citizenship is effectively permanent, passes to your children, and requires you to renounce nothing.
Citizenship is a relationship with a state, and it carries obligations as well as rights. Prospective citizens should know what they are joining, not only what they are gaining.
Compulsory voting
Voting in national elections is a legal obligation for Argentine citizens between 18 and 70, and optional at 16 and 17 and over 70. Failure to vote can attract a modest fine. Citizens registered as resident abroad can vote through Argentine consulates and are not pursued in practice. It is nevertheless one of the few places where Argentine citizenship carries an active duty rather than a passive right, and it is precisely the link between citizenship and voting rights that shaped the courts' view that eligibility must ultimately be settled by Congress.
Military service
Compulsory military service was suspended in 1994, and Argentina has operated an all-volunteer force since. The law retains a theoretical power to reinstate conscription in defined circumstances, requiring congressional action. There is no practical exposure for a new citizen or their children under present arrangements.
Permanence
Once granted, Argentine citizenship is difficult to lose. Naturalisation can be cancelled for fraud in the application, which is the strongest possible reason to be scrupulous about disclosure. There is no residence maintenance requirement and no renewal of status. The passport renews every ten years; the citizenship behind it does not.
Onward transmission
Argentine nationality passes to children, which makes this a multigenerational asset rather than a personal one. The precise rules for children born abroad to naturalised parents should be confirmed for each family, and consular registration formalities generally apply.
Names and civil registry
Argentine civil registry practice on names, including the treatment of middle names and maternal surnames, can differ from your home jurisdiction, so the name on your Argentine passport may not match your other documents exactly. It is a routine matter, but worth anticipating if you hold assets or accounts in several countries.
14 / FAQ
Frequently asked questions
Has Argentina's citizenship by investment programme launched?
The programme was presented by Economy Minister Luis Caputo in Paris on 2 October 2026. Applications are expected to open in Q4 2026. The implementing rules have not yet been published in the Official Gazette.
How much does Argentine citizenship by investment cost?
The donation route starts at US$350,000 for a single applicant, plus US$100,000 for a spouse or for each unmarried child aged 18 to 25 without children, and US$25,000 for each child under 18. On the bond route, the principal applicant buys a US$800,000 government bond and family members pay the same contributions. Government, due diligence and professional fees are additional.
What is the cost for a family of four?
US$500,000 on the donation route for a couple with two children under 18, or US$950,000 on the bond route: the US$800,000 bond plus US$150,000 in contributions, with the US$800,000 returned after seven years. Budget roughly US$100,000 more for fees until the schedule is published.
How does the government bond work?
The principal applicant buys a US$800,000 government bond created for the programme, understood to be a seven-year bond paying no interest, with the full principal repaid at maturity. The bond covers only the principal applicant; family members pay the same contributions as on the donation route.
Is the bond safe?
No sovereign bond is risk-free, and Argentina has defaulted on its debt several times, most recently in 2020. All three major rating agencies upgraded Argentina in 2026, but it remains below investment grade. Weigh the risk with your adviser.
Do I need to live in Argentina?
No prior residence is required under the investment naturalisation framework. Whether a visit is needed for biometrics will be confirmed in the final rules.
Will I become an Argentine tax resident?
Not by naturalising. Article 194 of Law 27,802 provides that investor citizens are not tax resident merely because they naturalised. If you later live in Argentina for twelve continuous months, or obtain permanent residence, you become tax resident like anyone else.
Can I keep my current citizenship?
Argentina permits dual citizenship and does not require you to renounce anything. Your own country's rules may differ; India, for example, does not permit dual nationality.
How many countries can I visit visa-free?
169 destinations without a prior visa on the principal 2026 rankings, including the Schengen Area, the United Kingdom (with an electronic authorisation), Japan, South Korea and China.
Does the Argentine passport give visa-free access to the United States?
Not today. Argentina is working to rejoin the US Visa Waiver Program, but the process takes years and has no confirmed timeline. Argentine citizens are, however, eligible for the US E-2 treaty investor visa.
Can I live in Brazil, Uruguay or Chile with Argentine citizenship?
Yes, through the Mercosur Residence Agreement, which allows a simplified, nationality-based residence application. For naturalised citizens, it applies after the citizenship has been held for five years.
Is there a real estate route?
No real estate route has been presented. The two routes are the donation and the government bond.
How long does processing take?
The processing time has not been published and has not yet been tested by a real application.
Is there a limit on applications?
A cap of around 5,000 has been discussed but was not confirmed in the Paris statement.
Can I apply now?
No application can be filed until the rules are published. You can, and should, prepare your documents now so your file is ready the day applications open.
Can my parents be included?
No. The dependants announced are spouses and children only.
Can my adult children be included?
Yes, if they are aged 18 to 25, have never married and have no children of their own, at US$100,000 each. Proof of financial dependency is understood not to be required.
Does citizenship pass to my children?
Yes. Argentine nationality is transmissible to children, subject to consular registration formalities.
Is there a cheaper way to get Argentine citizenship?
Yes, if you are willing to live there. Argentina offers naturalisation after two years of continuous lawful residence, through routes such as the Rentista or digital nomad visa. That route makes you an Argentine tax resident.
15 / Working with us
How Lincoln Global Partners helps
We are not starting from zero. Our team already handles Argentine residency every day, including Rentista and digital nomad visas, alongside investor pathways across Latin America. We are preparing clients now so their files are complete the day the programme opens, and we build Argentina into a complete Plan B system across the region.
First cohort readiness
Be ready in week one
If the Q4 launch holds, a file started now is complete before applications open. For clients targeting the opening cohort, we handle:
- Assessment: eligibility, family structure and the choice between donation and bond
- Source of funds structuring: tracing and documenting the specific funds, before anyone asks
- Document assembly: police certificates, apostilles and sworn Spanish translations, sequenced so nothing expires
- Private due diligence review: the refusal analysis, done before submission rather than after
- Submission and follow-through: from filing to decision and passport issuance
- Agent certification: we will apply for certification as soon as the criteria are published, expected in about a month
We will also tell you the day the official rules are published, and exactly what changed.
Register Interest Review the costsBeyond the passport
Argentine citizenship is a foundation, not the whole structure. We design complete Plan B systems around it:
- Tax residency in Uruguay or Paraguay, so you hold the passport without becoming an Argentine tax resident
- Residency across the region, from Paraguay and Uruguay to Brazil and Panama
- Real estate in Buenos Aires, including Puerto Madero, as well as Uruguay, Paraguay and Brazil, through Lincoln Global Properties
- Onward strategy, from Spain's two-year Ibero-American route to the US E-2 investor visa
Our team works across 8 cities on 3 continents. We provide guidance and consultancy, coordinated with qualified legal and tax counsel in each jurisdiction.
Register Interest to join our Argentina waiting list, receive the official rules the day they are published, and book an assessment with our Latin America desk.
Sovereignty by Design.
Source for programme terms
- "Argentina Announces CBI Program Pricing and Launch Timeframe," IMI Daily, 2 October 2026, imidaily.com
Sources
- Decreto DNU 366/2025 — Boletín Oficial de la República Argentina
- Decreto 524/2025 — Boletín Oficial
- Ley 27.802 'Ley de Modernización Laboral' — Art. 194 — Boletín Oficial
- Cámara Civil y Comercial Federal, Sala III — 'Volosh, Yana s/ Solicitud de Carta de Ciudadanía' (Expte. 17.978/2025/CA1), official ruling — Centro de Información Judicial (CIJ) — Poder Judicial de la Nación
Sources checked 2026-09-20.
Last reviewed 2 October 2026.
This guide is general information, not legal, tax or immigration advice. Programme terms are set by the relevant government and can change; confirm any figure with the authority, or with us, before acting on it.
