Argentina considers launching “golden passport” program

The government of Argentina could launch a “golden passport” program as early as this year, Financial Times (FT) reports, citing sources familiar with the plans.

Under the proposed scheme, applicants could obtain Argentine citizenship by making a $500,000 donation or by purchasing zero-coupon government bonds worth $1 million.

Sources told the newspaper that the final conditions may still change as the program is developed. According to them, Argentine authorities hope the initiative will attract tens of billions of dollars to help meet the country’s debt obligations.

The move is linked to the aftermath of Argentina’s 2020 debt restructuring agreement with private creditors. Since then, Buenos Aires has pursued various measures to attract U.S. dollars and regain access to global financial markets.

The founder of Arton Capital, which has advised the Argentine government on the project, suggested that the program may not require participants to reside in the country, as such a requirement could increase their tax obligations.

Consultants involved in the initiative believe the opportunity to obtain a “golden passport” could appeal to citizens of the United States and European countries who are concerned about political and economic developments in their home nations.

By Jeyhun Aghazada