Debt-saddled Argentina pitches ‘golden passport’ scheme to woo wealthy foreigners

BUENOS AIRES, Argentina (AP) — Argentina on Friday announced plans to offer citizenship to wealthy foreigners in exchange for cash contributions or investments in government bonds, as libertarian President Javier Milei seeks new sources of dollars for the debt-burdened nation.

Economy Minister Luis Caputo unveiled the so-called “golden passport” scheme at an investor event in Paris, saying applications are expected to open before the end of the year.

Applicants have two options: make a nonrefundable $350,000 contribution to the Argentine Treasury or invest $800,000 in a new government bond that must be held for seven years.