Argentina Citizenship by Investment: Prices, Launch and Court Risk

Legal basis. DNU 366/2025, signed on 28 May 2025 and published on 29 May 2025, rewrote parts of Argentina's migration and citizenship rules^[1]. It amended Article 2 of Citizenship Law 346 so that, besides the classic route (two years of continuous, legal residence), foreigners who show the National Migration Directorate (DNM) that they have made a "relevant investment" in the country may be naturalised whatever the length of their residence^[3]. A new Article 2 bis leaves it to the Ministry of Economy to decide which investments count as relevant, including specific investment projects^[3][1].

Who runs it. The same decree created the Agencia de Programas de Ciudadanía por Inversión (Investment Citizenship Programs Agency), a decentralised body under the Ministry of Economy that designs and manages the program and analyses applications^[1]. Decree 524/2025, published on 31 July 2025, set the procedure: the agency assesses the investment, gathers security reports from other bodies and sends a recommendation to the DNM, which approves or rejects the application^[2][4]. Aixa Granara was appointed the agency's executive director (unpaid, ad honorem) by Decree 285/2026, effective 22 April 2026^[6].

Current status (2 October 2026). The government has announced prices and a Q4 2026 opening^[22][7][9]. However, two appellate rulings in June 2026 struck at the DNU's citizenship provisions, and the government said it would file an extraordinary appeal to the Supreme Court, which advisers report as pending^{[11][12][13][21]}. We found no Ministry of Economy resolution published in the Official Gazette that sets out the US$350,000 and US$800,000 amounts, fees or bond terms; the figures come from the Ministry of Economy's 2 October 2026 announcement^[22] and press reports of the presentation. That is why this page lists the program as upcoming rather than active.

The official line is that applications open "during the fourth quarter of 2026", that is, by 31 December 2026^[22][7][8]. No exact day, application portal or list of authorised agents had been published by 2 October 2026.

The timetable has been uncertain throughout. In July 2026 industry sources pencilled in Q4 2026 while stressing that nothing had been published in the Official Gazette, and after the June court rulings some advisers described the timeline as paused^[15][21]. The first attempt to hire an outside operator also failed: the Ministry of Economy's international tender for a firm to design, launch and promote the program (Concurso Público 34-0001-CPU25, opened 5 December 2025) was cancelled on 14 April 2026 by Resolution RESOL-2026-522-APN-MEC, after challenges from two losing bidders^[14]. The Ministry now says it is advised by "a group of leading international firms specialising in investment migration"^[22], without naming them; how applications will be marketed and processed is not yet public.

Our reading: a Q4 2026 opening is possible, but the first passports will depend on how the Supreme Court treats DNU 366/2025. Do not pay anyone a non-refundable deposit to "reserve a place".

The cheapest route is a direct, non-refundable payment of US$350,000 to the National Treasury^[22][7][10]. The government says the funds will strengthen Argentina's fiscal and financial position and must enter through the formal financial system^[7][10]. Unlike Caribbean programs, the money is not ring-fenced in a named development fund, at least on what has been published so far.

Because it is a gift to the state, nothing comes back. Its appeal is simplicity: no asset to manage and no holding period to monitor. Its weakness here is legal risk. If the Supreme Court were to uphold the June 2026 rulings, there is no published rule on whether a contribution would be refunded for an application that cannot be decided. Ask that question in writing before you pay.

The alternative is to subscribe US$800,000 of a government bond created specifically for the program^[7][9]. Infobae reports that the bond pays no interest^[8]. Its maturity, whether it can be sold or pledged, and how long it must be held after citizenship is granted had not been published by 2 October 2026. Mid-2026 previews described a seven-year zero-coupon bond, but those terms were for a US$1 million instrument and are not confirmed^[15].

The real cost is the time value of money plus Argentine sovereign risk. At a 5% discount rate, a zero-coupon US$800,000 repaid in seven years is worth about US$569,000 today, so the economic cost is roughly US$231,000. That is less than the US$350,000 contribution, but you carry the risk that Argentina restructures its debt during the holding period, as it has done several times. Until the bond's terms are published, the comparison is only indicative.

What the law and decrees say, and what the announcement added:

• A "relevant investment". Under amended Article 2 of Law 346, the investment must be accepted as relevant under Ministry of Economy rules; the announced thresholds are US$350,000 (contribution) or US$800,000 (bond)^[3][7].
• No minimum residence. The investment route applies "whatever the length of residence", unlike the two-year continuous-residence route^[3].
• Clean security and financial record. Decree 524/2025 requires the agency to request reports from the Ministry of Security, the Financial Information Unit (UIF), the National Criminal Records Registry, RENAPER and the State Intelligence Secretariat (SIDE)^[2]. The decree itself does not mention other countries' standards, but the government's announcement of the decree said the agency would also consider third-country security protocols, such as those linked to the US Visa Waiver Program^[4].
• Traceable funds. The presentation stressed checks on identity, the origin and legality of funds, financial position, criminal and reputational history, country risk and migration history, in line with OECD and FATF recommendations^[22][7][8].
• Tax ID. Decree 524/2025 instructs the tax agency ARCA to enable a CUIT (tax identification number) for people granted citizenship by investment^[2].

Not yet published: the minimum age for the main applicant on the investment route, any excluded nationalities, whether an in-person interview is required, and the exact document list. The classic route in Law 346 is for adults over 18, and we expect the same here, but that is unconfirmed.

The announced rules let the main applicant include:

• Spouse: US$100,000 contribution to the Treasury^[22][7].
• Children aged 18–25: must be single and have no children of their own; US$100,000 each^[7][10].
• Children under 18: US$25,000 each^[7][10].

No provision for parents, siblings, unmarried partners or children over 25 was mentioned in the announcement. Whether a cohabiting partner (Argentina recognises uniones convivenciales) counts as a spouse, and whether family members can be added after the main applicant is naturalised, are open questions.

Do not assume the passport passes automatically to future children born abroad. Under Article 1 of Law 346, citizenship by option (ciudadanía por opción) is for children born abroad to native Argentines; the law does not extend it to children of naturalised citizens^[3]. Children born in Argentina are Argentine by birth. That is why existing children should be included in the original application.

Based on Decree 524/2025 and the 2 October 2026 presentation^[2][7]. Practical details (portal, agents, document list) are still to come.

The program's biggest risk is legal. Argentina's Constitution bars the President from legislating by DNU on electoral matters, and requires real urgency for any DNU.

• 18 June 2026, Volosh: Chamber III of the National Federal Civil and Commercial Court of Appeals held the DNU's citizenship provisions unconstitutional, finding no urgency that justified bypassing Congress, and sent the applicant's case back to a federal judge^[11].
• 30 June 2026, Yang, Liping: the National Electoral Chamber declared the DNU's transfer of citizenship powers to the DNM absolutely null (reports differ on whether it treated the whole decree as void), reasoning that citizenship is tied to political rights and so is an electoral matter closed to decrees; it notified federal electoral judges nationwide^[12][25].
• 1 July 2026: the government said it would file an extraordinary appeal to the Supreme Court and that, in its view, the decree remains in force; the Electoral Chamber's position was that implementation is suspended^[13]. As of 2 October 2026, no Supreme Court ruling on DNU 366/2025 had been reported^[21].

Both rulings focused on moving naturalisation from federal judges to the DNM; neither addressed the investment route directly^[11][12]. In Argentina such rulings bind only the parties to each case, which is why the government can keep operating. But the investment route sits in the same decree and relies on the DNM granting citizenship, so a broad Supreme Court ruling would hit it too.

One point in the program's favour: Congress itself referred to "naturalisation by virtue of relevant investments under Article 2(2) of Law 346" when it passed Law 27,802 in 2026^[5]. That is not a ratification of the DNU, but it shows legislative awareness of the route. The cleanest fix would be a law passed by Congress; none has been introduced to our knowledge.

• 28–29 May 2025: DNU 366/2025 creates the investment route and the agency^[1].
• 28 Jul 2025: the US and Argentina sign a statement of intent on Argentina rejoining the US Visa Waiver Program^[23].
• 31 Jul 2025: Decree 524/2025 sets the procedure^[2].
• 5 Dec 2025: international tender for a program operator opens^[14].
• 6 Mar 2026: Law 27,802 is published; Article 194 says investor-citizens are not tax residents merely because of naturalisation^[5].
• 14 Apr 2026: the operator tender is cancelled^[14].
• 22–28 Apr 2026: Aixa Granara is appointed executive director of the agency (Decree 285/2026)^[6].
• 18 Jun 2026: Volosh ruling against the DNU's citizenship provisions^[11].
• 30 Jun 2026: the National Electoral Chamber declares the DNU's transfer of citizenship powers null in Yang^[12][25].
• 1 Jul 2026: the government says it will appeal to the Supreme Court^[13].
• 2 Oct 2026: program presented in Paris: US$350,000 / US$800,000, applications from Q4 2026^[22][7][9].

What to watch next: a Ministry of Economy resolution in the Official Gazette setting fees and bond terms, the opening of an application portal, and the Supreme Court's decision on DNU 366/2025.

Argentina's passport is stronger than those offered by the current Caribbean and Latin American citizenship-by-investment programs. Henley's 2026 index data, as reported, puts it at roughly 169 visa-free or visa-on-arrival destinations, including the Schengen area, the UK and Japan^[19]. Official figures vary: DNU 366/2025 speaks of more than 170 countries^[1], while Minister Caputo said about 140 at the launch^[7]. It is also a MERCOSUR passport, which gives easy residence rights in Brazil, Uruguay, Paraguay and other member and associated states.

Argentines still need a visa for the United States. A statement of intent signed on 28 July 2025 started the process of rejoining the US Visa Waiver Program; DHS spoke of meeting the criteria "in the coming years", while press reports mentioned a hoped-for mid-2026 date^[23][20]. Argentina is still not on DHS's list of designated countries^[24]. The government said when it issued Decree 524/2025 that vetting would take account of US visa-waiver security standards^[4], which suggests the government sees the program and its visa-waiver ambitions as linked. Read more in our guide to the strongest passports available through investment.

Argentina allows dual citizenship: the investment route does not require you to renounce your current nationality. Check whether your own country allows it.

Article 194 of Law 27,802 (published 6 March 2026) added three paragraphs to Article 116 of the Income Tax Law^[5]:

• Foreigners naturalised through relevant investments are not tax residents solely because of naturalisation.
• For the residence tests that apply to foreigners, they are treated as foreign nationals, so the normal rules apply: in general, a foreigner becomes resident by obtaining permanent residence or by living in Argentina for more than 12 months^[16][17].
• Anyone who was already a permanent resident when naturalised stays tax resident^[5][16].

Becoming tax resident matters. Argentine residents are taxed on worldwide income and pay personal assets tax (bienes personales) on worldwide assets above a high non-taxable minimum, at progressive rates of 0.5% to 1% for 2025; non-residents pay only on Argentine assets^[18]. Government bonds are among the exempt assets^[18]. There is no federal inheritance or gift tax, but Buenos Aires province levies one^[18].

If you will not live in Argentina, the investor passport should not by itself pull you into the Argentine tax net. Take advice on your home country's rules and on any treaty before you spend long periods in Argentina.

The investment route is direct naturalisation: there is no residence period before or after^[3]. The alternative for those willing to move is the classic route in Law 346: two years of continuous, legal residence, with no departures from the country during that period under the DNU wording^[3]. That route is also affected by the court rulings over who grants citizenship (judges or the DNM).

Note that naturalisation brings political rights, including the right to vote. That is precisely why the National Electoral Chamber considered citizenship an electoral matter.

It may suit investors who want a high-quality second passport with Schengen and UK access, have a budget of US$350,000–600,000, can wait for legal clarity, and are comfortable being early adopters of a new program. It also suits families with young children, given the US$25,000 child contribution.

Look elsewhere if you need a passport within a predictable timeline, cannot afford to have funds stuck in a legal dispute, need US visa-free travel, or want a program with years of approval data.

• St Kitts and Nevis investor citizenship: the oldest Caribbean program, from US$250,000, with long approval history but a weaker passport and EU visa-waiver pressure.
• Grenada's donation route: from US$235,000, plus access to the US E-2 treaty-investor visa.
• El Salvador's Freedom Visa: a US$1 million route paid in Bitcoin or USDT, the other Latin American experiment.
• Turkish citizenship through US$400,000 of property, where you keep an asset.
• Paraguay's residence-to-naturalisation path and Uruguay's route to legal citizenship: slower, but built on settled law and real residence.
• Panama naturalisation after investor residency, for those who would actually relocate.

For the wider picture, see our tracker of newly launched and planned programs, the lowest-cost passports by investment, the side-by-side Caribbean comparison, and our explainer on investment citizenship versus residence-by-investment. All programs are listed on the citizenship by investment hub.