‘Really rich Americans will be embarrassed’ not to have Argentine passports, program designer predicts
A consultant who helped design Argentina’s new citizenship-by-investment program predicts it will become a status symbol for wealthy Americans.
“I expect the Argentine program to become so popular with Americans (high net worth individuals) that very wealthy Americans will be embarrassed if they don’t have an Argentine passport,” said Nuri Katz, founder of Apex Capital Partners. Fortune Friday.
The Minister of Economy, Luis Caputo, announced this program in Paris, specifying that applications would be open in the fourth quarter of 2026. This is the first in South America. AP described it as the kind of “golden passport” system common in other markets, as Argentine President Javier Milei looks for ways to get dollars for his debt-ridden country.
The design
The program has two itineraries. The first is a non-refundable contribution of $350,000 for a single applicant, with a family of four paying $500,000. The second is an investment of $800,000 in a government guarantee created for the program. The announcement does not give any maturity, yield or repayment terms for the bond.
The Agency for Citizenship by Investment Programs will evaluate each application, in collaboration with the State Secretariat for Intelligence, the Financial Information Unit and the Ministry of Security. Checks include identity, source of funds, criminal and reputational records, and immigration history. Funds must pass through the formal financial system and the National Migration Directorate makes the final decision.
Katz’s company is owned by Argentina Mobility for Investment and Global Opportunity Limited, a group of five investment and migration companies that advised the government on the program. Apex advises individual clients on second citizenship, and Katz helped create the Antigua and Barbuda program in 2013 and draft Cyprus’ investor legislation in 2011.
In June he declared Fortune that Argentina was developing South America’s first citizenship-by-investment program and that it would attract “significant U.S. interest.”
The land
“Argentina, as the first G20 country, offers wealthy Americans the first opportunity to quickly and easily acquire citizenship in a country that is both a safe haven and a huge business opportunity,” Katz said. Fortune Friday.
He emphasized the request. “The desire for jurisdictional diversification among wealthy Americans, as our survey shows, is overwhelming. The question is where to go, and until now the choices haven’t really been that great.”
Apex released a survey in June of 1,733 Americans with household incomes above $200,000, and 61 percent said they would consider leaving the United States within five years. Fortune reported. The cost of living and taxes come first, cited by 68%, ahead of the political climate (54%). Europe was the top destination with 42%, followed by Canada with 18% and the Caribbean with 16%. The survey measured intent, not actual movements.
Katz, who was born in the United States and raised largely in Montreal before moving to Moscow in 1990, has a broader debate about the United States itself, even though he now lives in Antigua. He expects the national debt will force a choice between inflation and default, and that wealthy Americans will be too focused on dollar assets.
“I experienced hyperinflation,” he said Fortune in June. “I don’t think people understand how dangerous it is, once the lid is taken off they have to start printing money.”
For this story, Fortune journalists used generative AI as a research tool. An editor checked the information for accuracy before publishing it.
Gn usa
