Argentina's debt crisis

President Javier Milei announced a plan to give passports to wealthy foreigners for cash or investments to curb Argentina's debt.

Golden passport scheme details

Applicants can contribute €311,000 to the Treasury or invest €711,000 in a seven-year government bond.

Family contribution rates

Contributions increase with family size, with a family of four expected to pay €444,000.

Debt payment urgency

Argentina’s Treasury faces nearly €22 billion in foreign-currency debt payments due in 2027.

Potential revenue

A consortium estimated the program could raise up to €2.2 billion if it receives the expected number of applicants.

Global status symbol

Nuri Katz called the passport a 'status symbol' like the Amex Black Card, enabling easier international travel.

“It’s so unique that it’ll be seen both as an insurance policy and as a kind of a status symbol, like the Amex Black Card.”

Strategic advantage

The Southern Cone of South America is seen as a stable, self-sufficient region with minimal global conflict risks.

Milei's vision

Milei aims to recast Argentina as a destination for foreign wealth by slashing public spending and courting oil and mineral investments.