Argentina is preparing to launch a Citizenship by Investment (CBI) program, allowing foreign nationals to obtain Argentine citizenship by investing a minimum of USD 500,000 in approved projects. This initiative is part of a broader immigration reform under President Javier Milei’s administration, aiming to attract substantial foreign investment to stimulate economic growth.
Program Overview:
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Investment Requirement: Foreign investors must contribute at least USD 500,000 to projects that promote economic development and job creation in Argentina.
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Administrative Structure: A decentralized agency within the Ministry of Economy will oversee the program, evaluating and validating investment projects.
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Legal Framework: The program will be formalized through an emergency decree, currently under review by the Legal and Technical Secretariat.
Strategic Objectives:
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Economic Development: The program seeks to channel foreign capital into sectors like agribusiness, energy, technology, and tourism infrastructure, fostering long-term economic growth.
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Job Creation: By mandating investments in productive projects, the initiative aims to generate employment opportunities for Argentine citizens.
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Global Competitiveness: Positioning Argentina as an attractive destination for high-net-worth individuals seeking citizenship options, enhancing the country’s global economic standing.
Comparative Context:
The proposed CBI program draws inspiration from the U.S. EB-5 visa program, which grants permanent residency to individuals investing around USD 1 million and creating at least ten jobs. Argentina’s program distinguishes itself by offering direct citizenship, potentially making it one of the most valuable CBI options globally, given Argentina’s visa-free access to 172 destinations and settlement rights in Mercosur countries.
Implementation Timeline:
The government plans to publish the formal decree establishing the CBI program before the upcoming legislative elections in Buenos Aires. This timing suggests a strategic move to bolster economic confidence and attract foreign investment ahead of the elections.
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