Argentina Launches Citizenship by Investment Program – Fast-Track Your Argentine Passport

Argentina has unveiled a groundbreaking policy that allows foreign investors to obtain Argentine citizenship in exchange for making significant investments in the country. A recent executive decree (No. 524/2025) creates a citizenship-by-investment pathway – a first for Argentina – by waiving the usual residency requirements for qualifying investors. This initiative, part of President Javier Milei’s broader immigration reforms, aims to attract international capital and boost the economy by fostering investments and job creation. Below, we delve into how the program works, its safeguards, comparisons to other countries, and the potential impact.

On July 31, 2025, the Argentine government published Decree 524/2025 in the Boletín Oficial, officially launching the Citizenship by Investment scheme. Under this new regime, any foreign national who has made a “relevant” investment in Argentina can apply for Argentine citizenship, regardless of how long they have lived in the country. This marks a dramatic change from the traditional naturalization law (Law Nº 346), which required a minimum of two years of continuous residency for foreigners to be eligible for citizenship. By eliminating the residency requirement for major investors, Argentina joins a growing number of countries offering fast-track naturalization to attract wealthy individuals.

The decree establishes a legal framework for this new route and creates a dedicated government body to manage it. Specifically, an Agency of Citizenship by Investment Programs has been set up as a decentralized unit under the Ministry of Economy. This Agency will oversee the entire process – from validating investments to coordinating background checks – before any citizenship is granted. The reform builds upon an earlier decree (No. 366/2025 issued in May) that amended the citizenship law to introduce the category of “citizen by investment”. With the latest regulation, the concept is now fully defined and operational.

Argentina is opening a new pathway to nationality for foreign investors, waiving the usual residency period in favor of “citizenship by investment.”

One of the key questions is how much – and what kind of – investment is required to qualify for citizenship. The decree does not set a fixed dollar amount or specific sectors in its text, instead delegating the Ministry of Economy to determine the criteria for a “relevant investment” through the new Agency. This means detailed thresholds and eligible investment types will be defined in secondary regulations or guidelines issued by the ministry.

Local media reports suggest that while the exact threshold has not been officially confirmed, the government’s intention is to target investments that have a high impact on economic development – likely favoring projects that create jobs or boost key industries – rather than purely financial transactions. In a similar vein, officials hinted the program would emulate aspects of the U.S. EB-5 investor visa, focusing on productive, job-creating projects over passive investments.

Until the Ministry of Economy publishes the exact parameters, prospective applicants only know that their investment must be substantial and beneficial to Argentina’s interests. It will be the Agency’s role to evaluate each case against those forthcoming criteria. Notably, the new rule applies retroactively to those who have already made large investments in Argentina: such individuals can also petition for citizenship under this scheme, regardless of their current length of stay.

For eligible investors, obtaining Argentine citizenship through this program involves a multi-stage process overseen by the new Agency and various government departments. The procedure is designed to be rigorous yet efficient:

Submit Application to the Agency: The foreign investor must file a citizenship application with the Agency of Citizenship by Investment Programs, providing evidence of their qualifying investment. There is no requirement to show any prior residency period, only proof of the investment and standard identity documents.

Investment Qualification Check: The Agency first verifies whether the investment meets the “relevant/significant” criteria set by the Ministry of Economy. This could involve confirming the amount invested, the nature of the project or business, and its economic impact. If the investment does not qualify (e.g. it’s below the threshold or in an ineligible sector), the application will be recommended for rejection at this initial stage.

Security and Background Vetting: If the investment passes the first check, the Agency triggers comprehensive background checks on the applicant. It will coordinate with multiple government agencies to gather reports on the individual. This includes:

• The Ministry of National Security – for any security concerns.

• The Financial Information Unit (UIF) – to flag potential money laundering or financial crimes.

• The National Criminal Records Registry (Reincidencia) – to check the applicant’s criminal background.

• The National Registry of Persons (RENAPER) – to verify identity records.

• The State Intelligence Secretariat (SIDE) – for intelligence vetting.

• Any other relevant public or private bodies as needed.

Each agency will examine whether granting citizenship to the applicant poses any risk to national security or public interests. For example, they will look into the source of the investment funds (to ensure they are legal and not linked to corruption or crime) and the investor’s background (to rule out terrorists, fugitives, etc.). This due diligence phase reflects Argentina’s commitment to vet investors thoroughly, in line with international standards for investment migration programs.

Agency Recommendation: Once all reports are in, the Agency compiles them into a detailed dossier. Based on the findings, the Agency will issue a formal recommendation to Argentina’s National Directorate of Migration (DNM). This recommendation either favors approval (if the investment is confirmed significant and no red flags emerged) or advises rejection (if any issue was found – such as insufficient investment or a negative security report). The decree explicitly states that if the investment doesn’t qualify as relevant or if any consulted agency opposes the citizenship, the Agency’s report must note this and urge rejection.

Decision by National Directorate of Migration: The final decision lies with the DNM (which is under the Chief of Cabinet’s office). By law, the DNM has 30 working days to review the Agency’s report and issue a decision granting or denying citizenship. The decision will be delivered as a formal administrative act, and if it’s a rejection, it must be well-founded with the reasons documented. A positive decision means the applicant will be granted Argentine citizenship (usually formalized through a citizenship certificate or “carta de ciudadanía” process via the courts, as per Argentine practice for naturalizations).

Post-Approval Integration: If citizenship is approved, the investor gains all the rights of an Argentine citizen, including the ability to obtain an Argentine passport and National ID. Additionally, the decree instructs the Customs and Tax Authority (ARCA) to streamline the process for new citizens to get a CUIT (Unique Tax Identification Code). The CUIT is essential for anyone doing business or holding assets in Argentina, enabling the new citizens to immediately integrate into the tax and financial system without bureaucratic delays. The Agency will also issue any complementary regulations needed to implement the program smoothly.

This end-to-end process is intended to balance efficiency with security. The government has emphasized that applications will be processed in a timely manner (the 30-day limit for a decision), providing certainty to investors. At the same time, the multi-agency review ensures that only reputable investors with lawful funds and no security concerns are rewarded with Argentine nationality. If at any point an application fails to meet the criteria or raises alarms, it will be halted and recommended for denial.

Granting citizenship is a sovereign privilege, and Argentina is enacting this program with caution. Authorities are well aware of the risks that can come with “selling” passports, so several safeguards are built into the framework:

• Thorough Vetting: As noted, seven or more organizations will vet each applicant. This extensive background check is designed to filter out individuals who may threaten national security, public order, or international trust. The decree even references aligning with foreign security standards, likely to ensure that granting an Argentine passport to an individual won’t jeopardize Argentina’s agreements (for instance, visa-free arrangements) with other countries.

  
  

• Transparency and Accountability: The new Agency must provide a detailed report for each case, and any denial is accompanied by explicit justification. This paper trail is meant to prevent arbitrary decisions. Moreover, the Agency is empowered to issue further rules clarifying how applications are evaluated, which can include published guidelines on eligible investments and disqualifying factors, adding predictability to the process.

  
  

• Control of Investment Criteria: By centralizing the definition of “relevant investment” under the Economy Ministry, the government retains control to adjust requirements as needed. They could raise the minimum investment amount or restrict the types of investment (e.g., prioritize certain industries or regions) to align with national economic goals. This flexibility allows Argentina to fine-tune the program over time.

  
  

• Tax and Legal Compliance: Requiring new citizen-investors to register for a CUIT and participate in the fiscal system is another safeguard. It helps ensure that those who gain citizenship also contribute to the local economy transparently (e.g., paying taxes on their businesses or investments). It also discourages purely absentee investors by integrating them into Argentina’s legal and economic framework.

  
  

These measures show that Argentina is trying to avoid the pitfalls experienced by some other countries’ cash-for-passport schemes. Notably, the decree was issued under constitutional powers that allow the President to legislate in certain matters (Article 99 inc.1 and 2 of the Constitution). This indicates the government’s sense of urgency in rolling out the program, while trusting that sufficient oversight mechanisms are in place to mitigate risks.

The primary goal of the citizenship-by-investment program is to attract foreign capital and stimulate economic growth. By offering the coveted benefit of citizenship, the government hopes to lure high net-worth individuals to inject money into productive ventures in Argentina. This could translate into new businesses, factories, real estate developments, or other projects that create jobs for Argentines and bolster the country’s development.

According to the official decree text, the measure seeks to “ensure greater efficiency in the procedure and encourage investment and job creation”. In practical terms, it’s a signal that Argentina is open for business. The country has faced economic turbulence in recent years – including inflation and debt challenges – so securing inflows of foreign investment is critical. A successful investor citizenship program could bring in fresh dollars, support the peso, and fund projects in sectors like infrastructure, energy, technology, or agriculture.

Another draw for potential investors is the strength of the Argentine passport. Argentine citizens enjoy visa-free or visa-on-arrival access to 170+ countries worldwide, including all of Europe’s Schengen Area, the U.K., much of Latin America, and more Notably, Argentina is in the process of seeking admission to the U.S. Visa Waiver Program (a formal application was submitted in July 2025). If Argentina succeeds in rejoining that program, new Argentine citizens would gain visa-free travel to the United States – a highly valuable perk. This possibility greatly enhances the appeal of Argentine citizenship for global investors or businesspeople who desire easier international mobility. In essence, Argentina is positioning its passport as a competitive offering in the investment migration market, potentially rivaling those of Caribbean or European programs in attractiveness.

Beyond travel benefits, becoming an Argentine citizen grants other advantages: the right to live and work indefinitely in a large, diverse economy; access to Mercosur trade bloc residency rights (in Brazil, Uruguay, etc.); and the option to participate in Argentina’s dynamic cultural and social life. For some investors, these lifestyle and business opportunities add to the allure. Argentina’s high quality of life – often described as having a European flair at lower cost – and its respected education and healthcare systems could be selling points in marketing the program.

In conclusion, Argentina’s experiment with offering citizenship for investment is a significant development in both its immigration policy and economic strategy. If successful, it could channel foreign money into productive uses and signal that the country is pro-business under the Milei administration. It also gives Argentina a place on the map of investment migration options, potentially drawing interest away from traditional programs elsewhere. However, careful implementation is vital – the authorities must uphold strict standards to ensure that this new door to Argentine citizenship strengthens the nation rather than compromises it. All eyes will be on the first few cases to see how Argentina balances openness to investors with the protection of its national integrity in this bold new initiative.