Opposition lawmakers in Argentina have introduced bills in both chambers of Congress seeking to prohibit citizenship by investment (CBI) and repeal the legal provisions underpinning the government’s newly announced program. The proposals follow the government’s announcement of the program’s investment options on 2 October 2026. Under the scheme, the main applicant must either make a non-refundable contribution of US$350,000 to the National Treasury or purchase an US$800,000 government bond. Applications are expected to open in the fourth quarter of 2026. However, the program faces significant legal and constitutional challenges, and its future remains uncertain.
The Rossi-Olmos Bill Seeks to Prohibit Citizenship by Investment
Deputies Agustín Rossi and Kelly Olmos introduced Bill 5254-D-2026, titled “Law Prohibiting the Sale of Argentine Citizenship.” The proposal seeks to remove the investment-based naturalization route introduced under Decree of Necessity and Urgency (DNU) 366/2025, eliminate the Economy Ministry’s authority to determine eligible investments, and abolish the Agency for Citizenship by Investment Programs.
Treatment of Pending and Approved Applications
Under the Rossi-Olmos proposal, investment-based citizenship applications awaiting a final decision would be considered withdrawn when the law takes effect. The bill would also declare citizenships already granted under the program invalid and require the National Directorate of Migration and the National Registry of Persons to cancel the relevant documents.
The Capitanich Bill Proposes Stricter Naturalization Requirements
Senator Jorge Capitanich introduced Senate Bill S-1441/26 on 24 August 2026, before the government announced the program’s final investment amounts. The proposal, titled “Regime for the Protection of Argentine Citizenship and Prohibition of its Granting by Investment,” similarly seeks to remove investment-based naturalization provisions and dissolve the citizenship-by-investment agency.
Different Approaches to Existing Applicants and Residence by Investment
The two bills differ in their treatment of applicants who have already received citizenship and those whose applications remain pending. The Rossi-Olmos proposal would withdraw pending applications and invalidate citizenships already granted. In contrast, the Capitanich bill would require pending applicants to meet the ordinary naturalization requirements while leaving citizenships granted through final decisions before the law takes effect untouched.
Court Rulings Raise Questions About the Program’s Legal Basis
On 30 June 2026, Argentina’s National Electoral Chamber declared DNU 366/2025 null under Article 99(3) of the Constitution, which restricts the use of emergency decrees in electoral matters. The case concerned the transfer of naturalization authority from the courts to the National Directorate of Migration. The court reasoned that citizenship involves political rights and that decisions on the rules governing citizenship fall within Congress’s authority.
Legal Uncertainty Could Affect Investors
Legal experts have warned that attempts to invalidate citizenships already granted could face constitutional challenges involving acquired rights, good faith, and legal certainty. The treatment of contributions made under the program also remains uncertain, as neither of the two published bills provides for refunds.
Government Maintains Its Position on the Program
Argentina’s Economy Ministry has presented the program as part of the country’s broader process of economic openness and international integration. The government has stated that applications will undergo due diligence aligned with recommendations from the Organisation for Economic Co-operation and Development (OECD) and the Financial Action Task Force (FATF).
Debate Over the Program’s Investment Structure
Criticism has also focused on the design of Argentina’s citizenship-by-investment scheme. Segura argued that the country could have developed a model more closely linked to productive economic activity, similar in some respects to the US EB-5 program, rather than relying primarily on a non-refundable contribution or the purchase of a government bond.
Legislative Outlook Remains Uncertain
As of 6 October 2026, both bills with publicly available texts remained under committee consideration. For either proposal to become law, it would need to pass both chambers of Congress, and a presidential veto could be overridden only if both chambers reaffirmed the legislation by a two-thirds vote.
Summary
Under the new rules, the I-526E fee for Regional Center investors will increase from $3,675 to $7,850, while standalone I-526 petitions will cost $7,615. Regional Center investors will also face additional fees, bringing their total government filing costs to $8,950 at filing. The minimum investment remains $800,000 for TEA/infrastructure projects and $1.05 million for other projects.
