Argentina, which has suffered chronic dollar shortages in recent years and limited access to foreign financing, has officially legalized the program for obtaining nationality through the Argentine Citizenship by Investment Program, as set out in Decree 524/2025. The decree aims to channel foreign savings into productive investment projects and offers investors nationality through the aforementioned investment program. The program itself, however, has yet to be launched pending publication of further implementing regulations establishing minimum investment amounts and granting benefits only for those made in “productive projects”.
In Argentina, Investors Can Obtain Citizenship
Through the program, not yet announced but already regulated by law, foreigners who make certain investments in Argentina will be eligible for Argentine citizenship, becoming the country’s first Argentine citizenship by investment program (similar citizenship-by-investment programs have been reported in other countries in recent years).
The stated goal is that said investments are intended to support long-term productive projects generating jobs and promoting regional development, contributing to Argentina’s export capacity. Although the precise amounts have yet to be announced, officials have said they are working on “a balance so that they are competitive but not insignificant.”
Citizenship-by-investment programs, however, are nothing new: Currently more than 80 countries around the world offer some type of investment-linked residency or citizenship program. In recent decades, citizenship by investment has poured billions of dollars into the United States through the EB-5 Immigrant Investor Program. Europe has also seen a boom in investor migration with Portugal, Malta and Hungary using investment-linked migration to drive investment. Some of these programs have come under pressure lately, leading some countries to tighten rules or suspend them altogether due to national security concerns.
Argentina Creates Agency to Administer Citizenship-by-Investment Programs
Decree 524/2025 provides for the creation of the Agency for Citizenship-by-Investment Programs which would be responsible for receiving applications for investments and projects associated with this type of program; analyzing and approving said projects by publishing them on the Agency’s website, and through technical teams assigned for this purpose; articulating and coordinating with the corresponding agencies of the Nation when required; monitoring compliance with agreements reached with investors; and developing other actions derived from its powers or those that are necessary for the fulfillment of its objectives.
The proposal would now require projects approved by the Agency for Citizenship-by-Investment Programs to be finally approved by the National Directorate of Migration and the corresponding Units of Financial Information of the Government of the Nation.
Argentine Citizenship by Investment
Furthermore, Decree 524/2025 stipulates that, although the citizenship-by-investment framework has been enacted, the program cannot yet be activated. Important aspects such as the investment required to obtain Argentine nationality through investment, designation of the so-called “strategic sectors”, among others, have not yet been released. To fill these gaps, the Argentine Government launched an international call for bids to select a company to provide technical consulting services related to the “study and implementation of citizenship programs by investment”.
It is estimated that the program would exceed USD $2.5 billion in foreign direct investment if implemented in its initial stages, attracting approximately 5,000 families that comply with the program’s requirements. This would represent an influx of foreign currency into Argentina and help boost the country’s reserves. Officials have said that they hope that capital will be placed in strategic sectors such as infrastructure, energy, agriculture, and technology.
Areas like Infrastructure, Energy, Agriculture, and Technology Seek Investments
Argentina’s energy sector is the obvious candidate for investment. The nation is endowed with vast unconventional hydrocarbon reserves and now ranks seventh in the world in terms of shale oil and fifth in shale gas. Argentina needs investment if it wants to become a leader in energy production. Projects related to infrastructure would also be highly relevant, including transport infrastructure, logistics centers, construction projects, and even urban development projects that could help provide jobs and address inequality. When it comes to technology, many hope that those who participate in the program can help develop software and other knowledge-intensive services that Argentina is well-positioned to provide.
Countries worldwide offer residency-by-investment and citizenship-by-investment programs to attract foreign capital. Brazil and Chile, neighbors of Argentina, offer investment-linked visas that grant residence in their respective countries but do not lead to immediate citizenship. Countries like these, which many view to have clearer rule of law, will make competition for Argentina challenging. Argentina will need to price its program correctly and ensure foreign investors that their investments will be safe should they take the plunge and participate. These types of programs have also come under scrutiny for lack of transparency in recent years. Institutions will need to work hand-in-hand to ensure that Argentina does not fall into similar situations that have been seen in other jurisdictions.