Argentina citizenship-by-investment scheme opens this quarter, no property route

Argentina has become the latest country to offer an investment-for-citizenship programme, giving wealthy applicants — including those from mainland China and Hong Kong — a new residency and diversification option. The government announced the scheme's main investment routes in October and said it would start accepting applications this quarter.

Key facts

• Applications are due to open this quarter, the Argentine government said.
• One route requires a US$350,000 non-refundable contribution to the National Treasury plus a subscription to a US$800,000 government bond created for the programme.
• Real estate does not count as a qualifying asset.
• The scheme offers a pathway to citizenship without first going through the traditional residency stage.
• Successful applicants can live and work across Mercosur member states, including Uruguay, Brazil, Paraguay and Bolivia.

What are the investment requirements?

Buenos Aires set out two principal investment routes for applicants, according to migration consultancy Henley & Partners. One route combines a US$350,000 non-refundable contribution to the National Treasury with a subscription to a US$800,000 government bond created specifically for the programme. The source does not describe the second route in detail.

Unlike many golden visa schemes, Argentina's initiative excludes property purchases as a qualifying investment — a condition that has typically driven property booms in countries with similar frameworks.

What do successful applicants gain?

The programme is notable for leading directly to citizenship rather than requiring a residency period first, while also providing residence, work and mobility rights in Argentina, Henley & Partners said.

Citizenship also opens access to Mercosur, the trade bloc that includes Brazil, Paraguay, Uruguay and Bolivia and promotes the free movement of goods, services, capital and people among member states. Kashif Ansari, co-founder and group CEO of proptech firm Juwai IQI, said citizens of the bloc have the right to reside and work in other member countries.

Who is the scheme aimed at?

Philippe Amarante, head of government advisory at Henley, said Argentina is likely to appeal to internationally mobile investors, entrepreneurs and families seeking to add another jurisdiction to what he described as a "sovereign portfolio" of residence rights, citizenship, investments and business interests.

Ansari said the programme could capture 5 per cent of global investment-migration demand, or about 2,500 participants out of an estimated 50,000 investment-migrant passports a year. Chinese citizens accounted for roughly two-thirds of all global investment citizenship and residency applicants from 2009 to 2019, he said; in Portugal, Chinese applicants made up 64 per cent of total residency permits since that programme began in 2012, according to a 2018 Transparency International report.

What should applicants watch out for?

Both Ansari and Luiz Felipe Maia, CEO and founder of Maia Properties, cautioned prospective applicants to weigh the programme carefully. Ansari said it would have only a modest short-term impact on Argentina's real estate market, and noted that the country's economic recovery and fiscal situation remain uncertain, with a history of aggressive taxation and capital controls.

Maia added that requirements under the programme could change after Argentina's general elections next year, noting that rules in Latin America are often rewritten every four years.

Applications are expected to open this quarter. No further dates, processing times or fees beyond the investment thresholds have been announced.