Argentina Citizenship by Investment 2026: Costs, Process and Risks

What Argentina has announced

Economy Minister Luis Caputo and Cabinet Chief Diego Santilli presented the programme on 2 October 2026 at Argentina Week in Paris. According to the official Ministry of Economy announcement, the programme is to accept applications in the fourth quarter of 2026. No exact date has been given.

Argentina thus becomes the first South American country with direct citizenship by investment. Unlike a golden visa, investors do not receive a residence permit but citizenship by naturalisation.

The legal basis

Until 2025, Citizenship Law No. 346 of 1869 governed naturalisation. It required two years of residence and was handled by the federal courts. Three instruments changed this:

• ✛DNU 366/2025 (May 2025): President Javier Milei's emergency decree allows naturalisation for a "relevant investment" regardless of residence. It moved jurisdiction from the courts to the migration authority DNM and created the APCI agency.
• ✛Decree 524/2025 (31 July 2025): It sets out the procedure. The Agency for Citizenship by Investment Programmes (APCI) reviews the investment and obtains security reports. The DNM decides within 30 business days of receiving the final report.
• ✛Law 27.802 (6 March 2026): The labour modernisation law amends Art. 116 of the Income Tax Law. Anyone naturalised through a relevant investment is not tax resident for that reason alone.

In April 2026 the tender for an external programme operator was cancelled by Resolution 522/2026. The programme itself remained. Aixa Granara has headed the APCI since 22 April 2026.

Costs: contribution or government bond

The main applicant has two options. Real estate purchases are not among them.

• ✛Contribution: USD 350,000 as a non-refundable payment to the Argentine Treasury
• ✛Bond: subscription of USD 800,000 in a dedicated government bond. Reported terms are 0% interest and a seven-year term. The exact conditions are not yet published.

Family members pay an additional contribution to the Treasury. Children aged 18 to 25 must be unmarried and have no children of their own.

Not included are government fees, due diligence costs and legal or advisory fees. These have not yet been set.

Is the bond worth it?

Financially, usually not. Tying up USD 800,000 interest-free for seven years means forgoing returns. At 5% a year that is about USD 325,000 – almost as much as the contribution itself. Add inflation and issuer risk: Argentina has restructured its sovereign debt several times. For most investors the USD 350,000 contribution is the clearer choice.

Process and screening

Payment does not guarantee citizenship. Every application passes through several authorities:

1. 1Application to the APCI with identity, civil status and financial documents
2. 2Investment review under the Ministry of Economy's criteria
3. 3Security reports from the intelligence service (SIDE), financial intelligence unit (UIF), the Ministries of Security and the Interior and, if needed, the criminal register and RENAPER
4. 4Recommendation by the APCI to the migration authority DNM
5. 5Decision by the DNM within 30 business days of the final report
6. 6Documents: ID card (DNI), passport and tax number (CUIT)

All funds must flow through the regulated financial system and be traceable under FATF standards. Anyone who built wealth in crypto must document its origin clearly. Realistically, expect several months from complete submission. How long the APCI stage takes is still open.

Tax: a passport without tax liability

Argentina taxes by tax residence, not by citizenship. Until now, Argentine nationals – including naturalised ones – were generally considered tax resident. Law 27.802 creates an explicit exception for the investment route.

• ✛Naturalisation through a relevant investment does not in itself create tax residence.
• ✛For the other criteria, CBI citizens are still treated as foreigners. Staying around twelve months or moving your centre of life to Argentina can make you resident.
• ✛Anyone who was already a permanent resident before naturalisation remains tax resident.

Residents pay income tax on worldwide income and wealth tax (Bienes Personales). Non-residents are taxed only on Argentine-source income. Your current country of residence matters too: the new passport does not change your tax liability in Germany, Austria or Switzerland. More under tax optimisation and residency abroad.

Passport strength and MERCOSUR

In the October 2026 Henley Passport Index, Argentina ranks 16th with 169 destinations without a prior visa. These include the Schengen Area, the United Kingdom, Ireland, Japan, almost all of Latin America and Russia.

• ✛USA: Argentines need a B1/B2 visa. Argentina was part of the Visa Waiver Program from 1996 to 2002. A return is under discussion but not decided.
• ✛E-2 visa: Argentina has a trade treaty with the US, so Argentines can apply for the E-2 investor visa. The US sometimes requires a minimum period of citizenship for naturalised persons.
• ✛MERCOSUR: As an Argentine national you can use the MERCOSUR Residence Agreement – for example in Brazil, Uruguay, Paraguay, Chile or Colombia. How each country treats naturalised Argentines should be checked before a move.

A structural advantage over small Caribbean states: with around 46 million inhabitants, a few thousand investors barely register. The risk that the EU or the UK reviews visa-free access because of the programme is therefore lower.

The risks: courts and parliament

The biggest risk is the legal basis. On 30 June 2026 the National Electoral Chamber declared DNU 366/2025 absolutely null in the case "Yang, Liping". Its reasoning: citizenship affects voting rights, and the government may not decide on it by emergency decree.

• ✛The ruling initially applies only to the individual case. The government has appealed to the Supreme Court; a decision is pending.
• ✛Several opposition bills seeking to repeal the DNU or Decree 524/2025 are before Congress. None has passed so far.
• ✛A DNU remains in force unless rejected by both chambers.

If the Supreme Court confirms nullity, Congress would have to re-establish the programme by law. Whether citizenships already granted would then be protected is legally disputed.

Dual citizenship: DACH countries

Argentina allows multiple citizenships. What matters is the law of your home country:

• ✛Switzerland: dual citizenship is permitted without restriction.
• ✛Germany: since 27 June 2024 multiple citizenship is generally allowed. A retention permit is no longer needed.
• ✛Austria: anyone voluntarily acquiring a foreign citizenship generally loses Austrian citizenship, unless a retention permit was granted in advance.

Argentina abolished compulsory military service in 1994. The passport does not state that citizenship was acquired through investment.

Family planning: what to consider

• ✛Include children now: for naturalised Argentines, passing citizenship to children later born abroad is not as simple as for native-born citizens. Include existing children directly in the application.
• ✛Children's age: under 18 costs USD 25,000, from 18 USD 100,000. The reference date has not been published.
• ✛Spouses: Argentine law has treated same-sex marriages equally since 2010 (Law 26.618). The "spouse" category does not distinguish by gender. The implementing rules should confirm this.

Comparison with other routes

The regular two-year route is cheaper. Since 2025, however, it requires uninterrupted presence and almost inevitably leads to Argentine tax residence. For entrepreneurs with international income, the investment route is therefore often the more sensible choice.

How SWICOR prepares your application

SWICOR is expanding its second citizenship services and will support Argentina from the launch of the application portal. It makes sense to prepare now without committing money:

• ✛Eligibility check: family, home country, dual citizenship and tax consequences in your country of residence
• ✛Source-of-wealth file: bank statements, sale agreements, tax documents, company accounts
• ✛Documents: birth and marriage certificates, criminal record extracts, apostille and certified translations
• ✛Payment planning: keep funds in the regulated banking system, no advance payment before rules are published
• ✛After approval: DNI, passport, CUIT and, on request, a bank account

Our checklist on KYC documents shows which evidence banks and authorities typically require – much of it you will also need for the Argentina application.

Conclusion

Argentina citizenship by investment is the strongest offer of its kind so far: a G20 passport with 169 visa-free destinations, MERCOSUR access and no tax liability without residence in the country. For families, USD 500,000 is comparatively affordable.

At the same time, the legal situation is unusually open. Until the Supreme Court has ruled and the implementing rules exist, preparation is the right step – not the transfer.

Frequently asked questions