Argentina is preparing to launch South America’s first citizenship-by-investment program, according to officials and legal experts familiar with the initiative. The program, established under Decree 524/2025, would allow foreign nationals to obtain Argentine citizenship through naturalization without meeting the standard requirement of two years of residency, in exchange for making significant investments in the country.
Paula Carello, president of the Migration Law Institute at the Rosario Bar Association and head of the law firm Lux Brumalis, told UPI that the government has provided very little information about the program. She said “there have been no statements regarding the public tender launched at the end of 2025, nor about the program’s real objective.”
Still, Carello said Decree 524/2025 aims to encourage investment and job creation and that “from a strategic perspective, Argentina appears to be seeking to position itself as a competitive destination for high-net-worth individuals, entrepreneurs and international investors.”
The program is modeled on similar initiatives in the United States, several European countries and Caribbean nations that offer immigration benefits to foreign investors who make substantial economic contributions.
Carello said the program should focus on sectors considered critical to Argentina’s development, including the knowledge economy, culture, technology, infrastructure, energy, tourism, agribusiness and social or community projects.
“For the program to have a positive impact, it should not be limited to a simple transfer of money or passive investments. It should be linked to genuine investment, employment, innovation, regional development or the strengthening of strategic sectors,” she said.
The debate comes amid signs of growing interest in Argentina among international business figures. A recent report by The New York Times said billionaire Peter Thiel, co-founder of PayPal, is considering Argentina as a possible alternative place of residence because of concerns about the political and fiscal situation in the United States. According to the newspaper, Thiel has met in recent months with President Javier Milei and members of his cabinet, and has temporarily relocated his family to Buenos Aires. The report, citing a source close to Thiel, said authorities had considered offering him permanent residency or even Argentine citizenship. A spokesperson for Milei denied that such a proposal had been evaluated.
One of the primary attractions for investors is the strength of the Argentine passport, according to Gonzalo Brest, a tax and legal partner at KPMG Argentina. “The Argentine passport provides visa-free access to 169 countries and ranks as the 16th strongest passport in the world,” Brest told UPI.
Despite that advantage, several key aspects of the program remain undefined. Carello noted that regulations implementing the citizenship law reform approved in May 2025 have not yet been published. Outstanding issues include minimum investment thresholds, eligible sectors, methods for proving the lawful origin of funds, and background checks related to criminal records, national security and anti-money laundering requirements.
It also remains unclear whether the benefit will extend to immediate family members, what documentation applicants will need, what type of connection to Argentina will be required, and how authorities will verify that investments remain in place and generate measurable economic benefits.
Carello noted that Argentina already has an investment-based residency category under its Migration Law, but described it as “a mechanism that barely functions because applications often become trapped in lengthy bureaucratic processes involving different state agencies.” She argued that before creating a fast-track path to citizenship, the government should first review and modernize the existing investment residency system.