Citizenship by Investment in Argentina - Guide for 2021
Citizenship by Investment in ArgentinaUpdated on Friday 13th August 2021
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Many foreigners, especially those who are thinking of investing in Latin America, want to find out how to obtain citizenship by investment in Argentina to come to these lands to start companies of various kinds.
Argentina's economic outlook, surprisingly, shows promising signs after going through a couple of political controversies and the great Coronavirus crisis, which is why this country has become one of the main options for international investors who have their sights set on Latin America.
Although the country does not have formal citizenship by investment scheme as do other famous jurisdictions and international financial centers, there are ways to use investment as an entry point to get Argentine citizenship.
You will most likely encounter several formalities along the way, so having the right Argentinian lawyers will be crucial to your success.
Recently, the system by which immigration applications were handled in this country was updated to make the whole process easier and faster, so this is the proper time to start your paperwork and obtain citizenship by investment in Argentina.
This new system digitalized much of the process you must go through to become an Argentine citizen, but you will still need a law firm in Argentina to help you with the more specific procedures.
What to keep in mind before applying for citizenship by investment in Argentina
As already mentioned, no immigration package grants you citizenship automatically after making a qualifying investment in Argentina. Still, in this case, you will have to use your investment to apply for a residency, and then convert that residency into a citizenship.
It is a slightly longer process, but in general it is much cheaper than paying for citizenship in another jurisdiction.
However, there are a couple of considerations to keep in mind when it comes to obtaining citizenship by investment in Argentina. Let's see what they are:
In principle, if you are a foreigner and want to obtain Argentine citizenship through investment, you should bear in mind that this is a procedure that not requires to stay in the country or work. In these cases, it is enough to carry out a temporary residence procedure.
Another important fact to consider is that, according to the national law, Argentine nationality cannot be renounced. The fact that a foreign citizen who wishes to acquire the Argentine nationality has another or other nationalities does not prevent or affect the possibility of acquiring the Argentine nationality. It is possible to be an Argentinian citizen and simultaneously have other nationalities.
The alternatives to become an Argentine citizen by investment
Foreigners who wish to obtain citizenship by investment in Argentina can only become citizens by naturalization. Although it may sound like a complex procedure, naturalization is the most common way for foreigners to become Argentine citizens.
It is a judicial process that takes place exclusively before the Argentine federal courts. And it grants the Citizenship Certificate, a document that certifies that a foreigner is a legal citizen.
Remember that before you can initiate this judicial process, you must apply for temporary residence for business or investment purposes. For this reason, we recommend that you consult a team of lawyers in Argentina who can guide you through the whole process.
What are the main requirements for citizenship by investment in Argentina?
When making your application you must submit an investment plan, regardless of whether it is to start a new business or to invest in an existing Argentinian company. In this plan you must indicate the basis of a productive business related to the service industry or trade, as well as prove the legality of the investment funds originated abroad through vouchers issued by financial institutions considered valid by the Central Bank of the Argentine Republic (BCRA).
The other requirements will be:
- Be over 18 years of age.
- Have two years of uninterrupted and documented residence in the country, certified by the National Direction of Migration, except if married to a native Argentine citizen or have a native child.
- The birth certificate must be presented, duly legalized.
- It is necessary to bring a photocopy of the national identity card and passport.
- For this procedure, the criminal record certificate will be requested.
- Another document that must be presented is the certificate of domicile.
- On the other hand, the means of livelihood must be justified: employment contract, current work certificate, or salary receipt. In case of being self-employed, copy of proof of contributions.
Depending on the case, the court may request additional documents or information, so having the support of a law firm in Argentina is very important to help you get ahead of any unforeseen events.
Data on the migration of foreigners to Argentina
For years, the interest in obtaining Argentine citizenship has been quite common among foreigners since this country is one of the main cultural and business centers in Latin America.
Figures on residency applications and applications for residency in Argentina prove it:
- Before the travel restrictions caused by the pandemic, some 270,000 foreigners settled in Argentina over a 10-year period.
- The national foreign population is more than 1,800,000 people.
- The cumulative growth of the economy projected until 2022 is at least 7.5%, ideal to come to Argentina to invest.
If you want to start your plan to become a citizen by investment in Argentina, do not hesitate to contact our team of Argentine lawyers. We can help you through every step of the process, from applying for residency and advising you regarding your investment to applying for citizenship at a later date.