Argentina to Sell Citizenship: $350K Donation or $800K in Bonds
Economy Minister Luis Caputo unveiled the so-called "golden passport" scheme at an investor event in Paris, saying applications are expected to open before the end of the year.
Argentina becomes the first G-20 nation and the first South American nation to sell citizenship directly. Two routes: a $350,000 non-refundable contribution to the National Treasury, or an $800,000 purchase of a newly created government bond held for seven years.
Caputo unveiled the program on Friday, October 2, during "Argentina Week" at the OECD and the Argentine Embassy in France. The Economy Ministry said applications open in the fourth quarter of 2026.
The pricing and the motive
Family pricing: a spouse adds another $100,000, children aged 18 to 25 who are single and childless cost $100,000, and minors under 18 cost $25,000. A family of four lands at $500,000.
The motive is fiscal. Argentina's Treasury faces nearly $25 billion in foreign-currency debt payments due in 2027, and President Milei has avoided returning to international bond markets. A consortium of investment firms advising on the program estimates up to $2.5 billion in revenue if applicant projections hold.
Caputo said the idea emerged during Milei's July 2024 visit to Sun Valley, Idaho, when tech executives expressed interest in Argentine citizenship. "The Argentine passport is highly valued, accepted in more than 140 countries," Caputo said, adding the money would go "to continue strengthening the fiscal and financial position of the Argentine Republic."
For context, roughly a dozen active citizenship-by-investment programs exist, mostly in small Caribbean states where donations run $100,000 to $200,000. About 60 nations offer golden-visa residency, and Trump launched a U.S. "gold card" program last year. The government promised a rigorous evaluation process with anti-money-laundering vetting. An EU court ruled Malta's golden passport unlawful in April 2025, a cautionary backdrop.
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Options market and stocks to watch
A $2.5 billion potential inflow against $25 billion in 2027 maturities is an Argentina-credit story. Watch these names:
ARGT: the Argentina ETF is the broadest proxy for Milei-era reform sentiment and fiscal headlines.
YPF: the state oil company is the flagship Argentine equity and moves on sovereign-credit news.
GGAL: Grupo Financiero Galicia is the banking proxy for Argentine financial conditions.
Watch for unusual flow around decree details and application-launch headlines. For more macro coverage, see other market news here.
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