Announced by Economy Minister Luis Caputo and expected to launch before the end of 2026, the program would be the first citizenship-by-investment scheme in South America and the first of its kind in a G20 country. It will also recognize same-sex married couples.
The program offers two investment routes: a non-refundable contribution or a seven-year, interest-free government bond.
Two Paths to Argentine Citizenship
Applicants can make a one-time donation of $350,000 for an individual or $450,000 for a couple, with additional charges of $25,000 for each child under 18 and $100,000 for each adult child aged 18 to 24.
The alternative is an $800,000 seven-year, zero-interest treasury bond for an individual or $900,000 for a couple, with the same additional amounts for dependent children.
Nuri Katz, president of Apex Capital Partners, one of the firms that advised Argentina’s government, expects the donation route to prove more attractive because applicants do not have to tie up capital in a non-interest-bearing investment.
Katz described the potential appeal of the passport as both practical and symbolic, comparing it to the exclusivity associated with an Amex Black Card.
A “Plan B” for Wealthy Americans
Investment migration advisers say interest in second citizenship has been increasing as affluent Americans consider ways to diversify their geographic exposure.
Eric Major, CEO and chairman of Latitude World, told Forbes that Americans now account for roughly three-quarters of his firm’s business. He said some clients are preparing for extreme scenarios in which they might need to leave the U.S. temporarily.
The motivation extends beyond Argentina. Advisers say wealthy Americans are increasingly viewing citizenship as another form of diversification, alongside traditional financial assets.
Katz argued that investors often diversify across stocks, bonds, real estate and private equity while keeping those assets concentrated in the United States. A second citizenship, he suggested, provides a different kind of geographic diversification.
Argentina also offers a practical advantage for North American businesspeople because of its relatively similar time zone, according to Katz.
The Mercosur Advantage
Argentine citizenship also provides access to a broader regional framework.
Under the Mercosur Residence Agreement, citizens of Argentina, Bolivia, Brazil, Chile, Colombia, Paraguay, Peru and Uruguay can access residence, work and study rights across participating countries, subject to the agreement’s terms.
The arrangement gives an Argentine passport additional regional utility beyond travel, potentially allowing citizens to establish themselves elsewhere in South America.
Demand for Second Citizenship
The Argentine program arrives as interest in alternative citizenship and ancestry-based nationality has grown among Americans.
Since 2020, immigration lawyers and ancestry services have reported increased interest from Americans seeking citizenship through descent. Accessing the genealogical documentation required for those applications has also become more challenging in some cases following staffing reductions at the U.S. National Archives.
The investment route provides a different option for wealthy applicants who may not have an ancestry-based claim.
A Contrast With the U.S. “Gold Card”
Argentina’s program also enters a market where the U.S. has been promoting its own high-cost immigration initiative.
Katz said the Trump administration’s Gold Card visa has struggled to attract applicants despite its price being reduced from an initially discussed $5 million to $1 million in 2025.
By April 2026, Forbes reported that only one Gold Card visa had been approved.
For wealthy Americans considering a second citizenship, Argentina’s new program therefore represents a different proposition: rather than purchasing residency in another country, applicants would be pursuing citizenship itself, along with the associated regional mobility.
Whether the program becomes the elite status symbol its advisers anticipate will depend on its final implementation and how wealthy Americans weigh the cost against the perceived value of having an additional national affiliation and geographic option.
