Argentina has introduced a citizenship-by-investment program, one of a number of "golden visas" certain jurisdictions have adopted in recent years, to varying levels of applause and condemnation. We talk to advisors.

Argentina has joined the ranks of countries offering citizenship in return for investment, a “golden visa” route that continues to attract jurisdictions and criticism. 

The program will offer qualifying investors and their families a direct route to Argentine citizenship without the standard two-year residence requirement, expanding investment-linked citizenship options in Latin America. Argentina's biggest differentiator is that it is offering a pathway to citizenship rather than just residency.

These programs, used by countries to attract capital, are a barometer of globalization, and a sign of how HNW individuals and families seek ways to diversify where they live and work as geopolitical tensions continue. 

One shift, advisors say, is that larger countries, such as Italy with its residency program, Argentina and New Zealand, are entering the fray, while smaller jurisdictions, such as in the Caribbean and Malta, are either in retreat or modifying what their programs. (See the Malta story here.) One country that perhaps does not fit this pattern is the UK, a country that has left the European Union and that cancelled its Tier 1 Investor Visa program in 2022 after Russia invaded Ukraine. (Even before leaving the EU, the UK was not in the Schengen area.)

And here comes Argentina. A question is how it will be received?

Advisors said Argentina must run any programme tightly to avoid incurring the wrath of transnational blocs such as the European Union.

“As with any citizenship or residence by investment program, we believe that its long-term credibility and success will depend on a sound legal foundation, robust due diligence, transparency, good governance, and adherence to internationally recognized standards,” Bruno L'ecuyer, CEO of the Investment Migration Council, told this news service recently. “The announcement of a Citizenship by Investment program by a country of Argentina's size and international standing is a significant development for the investment migration sector.”

The IMC, a pan-industry group that represents a number of advisory firms working in the space, has not yet adopted a formal stance on the Argentine program, he added.

Immigrant Invest, a firm advising on such schemes, said Argentina is seeking ways to plug a hole in its public accounts. Under President Javier Milei, a politician who has adopted a form of free market economics to lift the country from decades of high debt and poverty, there is more work to do. 

“The main driver is hard currency. The Treasury faces around $25 billion in foreign-currency debt payments in 2027, and the government has not yet returned to international bond markets. Advisors to the government estimate the program could raise up to $2.5 billion,” Elena Ruda, managing partner and co-founder of Immigrant Invest, told this publication. Ruda’s firm is headquartered in Malta, with a total of 10 offices worldwide.

“The program presents Argentina as open to foreign capital,” Ruda said.

There are important lessons that apply, she continued. Countries must ensure strong due diligence and that they don’t compete downwardly on price. 

The practice of discounting is a reason why the EU eventually went after Caribbean jurisdictions running these systems, Ruda said. Brussels has told Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia to shut their programs by June 1, 2028, or risk losing visa-free access to the Schengen Area. 

Domininc Jones, managing director of Greener Pastures New Zealand, gave his take on the Argentina venture. 

“The timing also reflects a broader shift in how wealthy families think about citizenship and residency. Increasingly, they are looking beyond their home countries to diversify their options, protect their families and establish a presence in politically and geographically different regions,” Jones said. “Argentina has an opportunity to capitalize on that demand and establish itself as a significant player in Latin America's investment-migration market.”

A point to consider is what the EU might think. The EU seems to take a critical view of such programs in general. It has targeted countries such as Malta, a former British colony and EU member state since 2004, for allegedly “commercialising” the idea of citizenship. As a result, Malta has modifiedi ts approach.

Immigrant Invest’s Ruda said that any applicants for the Argentina visa should treat the risk of closure and political pressure as a matter to consider from the start. 

Reputation 
One potential headache that Argentina’s lawmakers might have to consider is the work that the country needs to do to boost its global standing for corporate governance and transparency. â€śReputation is a real challenge,” Ruda said. “Argentina scored 36 out of 100 on the 2025 Corruption Perceptions Index, below the global average of 42 and its lowest score since 2019.” 

“On paper, the [program] framework is well designed: funds must go through banks authorized by the central bank; a dedicated agency assesses applications; intelligence, financial and security authorities review each file; the National Immigration Directorate makes the final decision. However, credibility comes from implementation. Filing procedures, document requirements and processing times are still unpublished, and the operator tender was cancelled in April,” Ruda said.

Ruda said Argentina should build trust by using independent international due diligence providers, published statistics, external audits and “strict exclusion of sanctioned individuals.”

Given Argentina’s track record of debt default, the route of investing in $800,000 of Argentine bonds over seven years would be suitable for those who are comfortable to bear sovereign risk. Ruda said the entry price, of $350,000 in a non-refundable contribution, is “relatively high.”

Rising Southern Hemisphere
Jones said Argentina’s location in the Southern Hemisphere, which is increasingly attracting international capital, is a plus factor.

“We're seeing similar trends in New Zealand, which has established itself as an attractive safe-haven destination for international investors and families looking to diversify where they live, invest, and build their futures,” he said. “Another clear benefit is Argentina's ability to attract international capital and potentially establish longer-term economic relationships with wealthy investors. The program could also provide families with another option at a time when international mobility and geographic diversification are becoming increasingly important.”

But like Immigrant Invest’s Ruda, Jones said tight governance is crucial: â€śArgentina will need to demonstrate rigorous due diligence, consistent rules, and a reliable application process to build international confidence."

WealthBriefing asked Jones about which nationals might want to go for the Argentina option. 

Such a program should have “broad international appeal,” he said. 

“Americans and Europeans, who generally already enjoy significant international mobility through their existing passports, may be drawn to Argentina as an additional safe haven and an opportunity for greater geographic diversification. Meanwhile, investors from parts of Asia and the Middle East may be more interested in the additional international mobility that a second citizenship could provide,” Jones added. 

Fortunes around these schemes can be mixed. In the US, President Donald Trump’s “gold card” idea, pitched at HNW individuals seeking to live in the US, is generally seen as a disappointment. Trump first suggested the concept in February 2025, and signed an executive order in September that year that set the fee at $1 million for individuals and $2 million for corporate sponsorship. Applications opened in December. 

In April 2026 Commerce Secretary Howard Lutnick told the House Appropriations Committee that only one card had been approved. In fact, recent articles have suggested that there is a trend of US citizens seeking foreign residences, including in the UK and mainland Europe.