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  Argentina: Citizenship by Investment (Pre-Launch)

Argentina: Milei's Half-Million-Dollar Wager

The first citizenship-by-investment programme ever attempted by a G20 economy is expected to open in the second half of 2026 — a top-20 passport, in thirty business days, with no residency at all.

The context

No country of Argentina's size has ever sold citizenship outright and by design.

That is the scale of the wager President Javier Milei signed into being with Decree 524/2025 in July 2025, which amended the Nationality Law to let foreign investors acquire citizenship through a 'relevant investment' — without the traditional two-year residence requirement. The decree followed Decree 366/2025 of May 2025, a sweeping migration overhaul that simultaneously tightened ordinary naturalisation. The sequencing is the message: harder for everyone else, engineered for capital.

The macro backdrop explains the urgency. Milei's administration has delivered Argentina's first annual budget surplus in fourteen years, secured a US$20 billion IMF agreement in April 2025, lifted most currency controls, and in March 2026 announced plans to relax foreign land- and asset-ownership restrictions. The government projects the programme could attract over US$2.5 billion in foreign direct investment and roughly 5,000 investor families. Peter Thiel's temporary relocation of his family to Buenos Aires in April 2025 — attributed by people familiar with his thinking partly to interest in the Milei experiment — has served as unpaid pre-launch marketing.

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Programme mechanics

The anticipated framework centres on a qualifying investment of roughly US$500,000 into strategically relevant sectors — agribusiness, renewable energy, technology, tourism infrastructure — assessed on job creation, technology transfer and regional development impact, with a zero-coupon sovereign-bond alternative near US$1 million under discussion. Final thresholds remain unconfirmed. A legislated thirty-business-day decision window from submission would make it the fastest credible citizenship process in the world. Family inclusion under a single application is expected; dual citizenship is permitted without conditions.

Implementation has been turbulent. The master-agent tender was contested and formally cancelled in April 2026 (Resolution 522/2026); that same month Milei appointed an executive director inside the new Agency for Citizenship through Investment Programs at the Ministry of Economy to rebuild the framework — a move industry lawyers read as confirmation that launch remains on track for H2 2026. Crucially, the March 2026 Labor Modernization Law exempts programme participants from automatic tax residency, removing the largest single deterrent for internationally mobile applicants.

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