Argentina prepares investor citizenship plan for wealthy migrants

Argentina is preparing a citizenship-by-investment program aimed at wealthy foreigners, a move that could put the country into a small but lucrative market for second passports. Fortune reported that the effort comes as high-net-worth Americans and other global investors look for backup places to live.

Palantir co-founder Peter Thiel drew attention to that shift earlier this summer when he moved with his family to Buenos Aires, bought a mansion in an exclusive area and met President Javier Milei and senior officials, according to Fortune.

The Argentine government created an Investment Citizenship Programs Agency inside the Economy Ministry through Decree 524/2025 in July 2025, Fortune reported. The program would let foreign investors seek citizenship without first living in the country.

The final rules have not been set. The Financial Times reported, citing people familiar with government plans, that applicants may be able to qualify through a non-refundable donation of about $500,000 or by buying $1 million in zero-coupon government bonds.

Nuri Katz, founder of Apex Capital Partners, told Fortune that Argentina’s size makes the plan unusual for the citizenship-by-investment industry. He said earlier large programs were tied to far smaller countries such as Montenegro and Malta, while Argentina has more than 40 million people and a broader economy.

Katz pointed to Argentina’s natural resources and trade as selling points. He cited the Vaca Muerta shale formation, lithium and precious metals, agricultural exports including soy, corn, beef and wheat, and about $22 billion in annual trade with the European Union.

Dominic Volek of Henley & Partners, who advises ultra-wealthy families on residence and citizenship planning, told Fortune he expects Argentina to become a serious participant in investment migration if the program launches as expected. His firm expects the program to open by the end of the year and has clients waiting to apply, Fortune reported.

Advisers told Fortune the appeal is less about taxes than personal security and flexibility. Volek said an Argentine passport already offers broad visa-free travel and would also bring settlement rights across the Mercosur bloc, which includes countries such as Brazil, Colombia and Ecuador.

For Americans, Argentina also offers distance from the United States while remaining close to U.S. time zones, Volek told Fortune. Katz added that flights to Buenos Aires can be nearly as long as flights to Europe, but without the same time-zone disruption for business travelers.

Katz’s firm commissioned a proprietary survey of 1,800 Americans that found 61% would consider leaving the United States within five years, Fortune reported. He described the result as surprising and said it reflects a broader search for safe havens.

Tax advisers cautioned that Argentine citizenship would not by itself reduce U.S. tax obligations for American citizens. David Lesperance, an international tax and immigration adviser, told Fortune that the United States taxes citizens on worldwide income unless they renounce citizenship.

Lesperance said clients often treat additional citizenships or residences as a form of emergency planning for risks such as natural disasters, political violence, antisemitism, mass shootings or new taxes. He also told Fortune that moving a family to Argentina would not require moving assets there.

Argentina still carries a reputation shaped by inflation, capital controls and default risk, Fortune noted. For now, advisers said potential applicants are waiting for the government to release the program’s final terms.

This story draws on original reporting from Fortune.