Argentina plans “golden passport” scheme, offering citizenship for $500,000 investment

The Argentine government under President Javier Milei is preparing a programme that would grant citizenship to foreign investors who contribute either a non‑refundable $500,000 donation or purchase zero‑coupon sovereign bonds worth about $1 million. Officials say the scheme could help finance the country’s public debt, which totals tens of billions of dollars, and attract capital at a time when Argentina remains cut off from international markets after its 2020 debt restructuring.

The proposal has sparked debate over its constitutionality, as Argentine law traditionally reserves citizenship decisions for Congress. Critics warn that selling passports may create security and governance risks, while supporters argue it could boost foreign inflows and give wealthy individuals greater mobility – the Argentine passport currently allows visa‑free travel to nearly 170 countries. Similar citizenship‑by‑investment programmes have been curtailed in the EU after legal challenges, and the Argentine plan is being watched for its potential economic impact and legal ramifications.