Argentina will open applications for a citizenship-by-investment program in the fourth quarter of 2026, Economy Minister Luis Caputo announced in Paris. Billed as South America’s first such program, it offers a non-refundable contribution of $350,000 for one applicant or $500,000 for a family of four, alongside an $800,000 investment in a government security created for the scheme. The announcement did not specify the security’s maturity, yield or repayment terms. Nuri Katz, founder of Apex Capital Partners and a consultant involved in designing the program, told Fortune he expects it to become a status symbol among wealthy Americans seeking jurisdictional diversification. Applicants will undergo checks covering identity, source of funds, criminal and reputational records, and immigration history. The Agency for Citizenship by Investment Programs will coordinate with the State Intelligence Secretariat, Financial Information Unit and Ministry of Security, while the National Directorate of Migration will make the final decision. Katz’s June survey of 1,733 Americans with household incomes above $200,000 found that 61% would consider leaving the United States within five years, although it measured intentions rather than actual moves. Katz also argues that U.S. debt could force a choice between inflation and default, citing his experience of hyperinflation. Fortune said its journalists used generative AI as a research tool and that an editor verified the information before publication.