Argentina’s opposition has introduced three bills in both chambers of Congress to prohibit the sale of Argentine citizenship and to repeal the legal framework that underpins the government’s newly announced citizenship‑by‑investment (CBI) program.
The executive unveiled the CBI scheme in Paris, offering two pathways: a non‑refundable US $350,000 contribution to the National Treasury or the purchase of a US $800,000 government bond. Applications are slated to open in the fourth quarter of 2026, but the opposition’s legislative push seeks to eliminate the program before it begins.
The Rossi‑Olmos Bill (Deputies)
- File: 5254‑D‑2026
- Sponsors: Deputies Agustín Rossi and Kelly Olmos (Unión por la Patria)
- Structure: 13 articles; referred to the Constitutional Affairs and Population & Human Development committees.
Key provisions:
- Deletion of the investment route added by Decree of Necessity and Urgency (DNU) 366/2025 to Citizenship Law 346, removing the Ministry of Economy’s authority to qualify investments and dissolving the Agency for Citizenship by Investment Programs.
- Flat rule: No investment, donation, purchase of securities, or similar transaction may serve as a basis for naturalisation or as a substitute for residence.
- Prohibition on debt issuance that grants migration benefits (Art. 6).
- Automatic termination of any contracts or partnerships related to CBI (Art. 7).
- Pending applications are deemed withdrawn on the law’s effective date (Art. 8).
- Already granted citizenships are declared invalid and their documents cancelled (Art. 9).
- Reporting requirement: Within 30 days the executive must disclose to Congress the number of applications, applicant nationalities, amounts collected, and details of bonds and consultancy contracts.
The sponsors argue that the program “puts Argentines at risk of losing visa‑free access to Europe” and that a contribution is not an “investment” under the existing citizenship law.
The Capitanich Bill (Senate)
- File: S‑1441/26
- Sponsor: Senator Jorge Capitanich (filed 24 August 2026)
- Structure: 15 articles; sent to the Constitutional Affairs, General Legislation, and National Economy & Investment committees.
Key provisions:
- Prohibition on creation, promotion, or operation of CBI programs by public bodies (Art. 3).
- Ban on commercialisation of citizenship procedures tied to investment size or nature (Art. 8).
- Residency requirement: Applicants must prove two years of residence, with possible shortening only for “relevant services to the Republic” (Art. 2).
- Exclusion of all monetary transfers—including bond purchases and donations—from qualifying for citizenship (Art. 5).
- Repeal of the investment provisions of Law 346 and DNU 366/2025 (Art. 6).
- Dissolution of the CBI agency and transfer of its assets to other state bodies (Art. 7).
- Residence‑by‑investment remains permissible, provided it does not lead to automatic citizenship and respects foreign‑ownership limits in Rural Land Law 26.737 (Art. 9).
- Pending applications must follow the ordinary naturalisation route; those already granted by final act are unaffected (Art. 12).
Capitanich stresses that attracting foreign capital does not equate to granting citizenship, citing Paraguay’s Investor Pass as a residence‑only model.
Comparison of Treatment of Applicants
| Issue | Rossi‑Olmos (Deputies) | Capitanich (Senate) |
|---|---|---|
| Pending applications | Deemed withdrawn (Art. 8) | Must conform to ordinary residence route (Art. 12) |
| Citizenship already granted | Declared invalid; documents cancelled (Art. 9) | Unaffected if granted by final act (Art. 12) |
| Refund of contributions | No provision | No provision |
| Residence‑by‑investment | Not addressed | Permitted under conditions (Art. 9) |
| Entry into force | Day of publication (Art. 12) | Day after publication (Art. 14) |
Both bills use the existence of a final decision on the effective date as the cutoff for pending cases and contain no refund mechanisms.
Legal Context and Judicial Rulings
- June 30, 2026 – National Electoral Chamber: Declared DNU 366/2025 null under Article 99(3) of the Constitution, which bars emergency decrees on electoral matters. The ruling was based on a case involving a Chinese applicant, Liping Yang, whose citizenship request was tied to the decree. The court ordered the Security Ministry to instruct the National Directorate of Migration (DNM) to apply the judgment.
- June 18, 2026 – Federal Civil and Commercial Appeals Chamber (Sala III): Found the decree’s citizenship provisions unconstitutional in a separate case.
- Supreme Court: The government has filed an extraordinary appeal to overturn the June 30 judgment; the current status is unclear.
Immigration attorney Javier Segura notes that a law invalidating already granted citizenships would likely face constitutional challenges based on acquired rights and legal certainty. He also cautions that, while a non‑refundable contribution may be unrecoverable, investors should avoid transferring the principal until a final approval is secured.
Additional Legislative Initiatives
- Carignano‑Penacca Bill (Oct 6, 2026): A third proposal to repeal the two Milei decrees that enable CBI; the text has not been released.
- Draft Resolution 3233‑D‑2026 (July 2, 2026): Submitted by Deputies Maximiliano Ferraro and Mónica Frade, seeking a congressional declaration that DNU 366/2025 is absolutely null for violating the separation of powers. This resolution does not mention the CBI program directly.
Political Outlook
Both CBI‑related bills remain in committee as of early October 2026. Passage requires approval by both chambers and, if vetoed, a two‑thirds majority in each chamber to override. Analysts suggest that, under the current administration, enactment is unlikely before the 2027 presidential election, after which the political balance could shift.
Opposition deputies have also called for a special session on 15 October 2026 to reject DNU 70/2023 (a separate Milei decree). Achieving the required quorum (129 deputies) remains uncertain.
Implications for Prospective Investors
- Program launch: Applications are expected to open in Q4 2026, but legislative and judicial challenges could delay or cancel the scheme.
- Financial exposure: Contributions are non‑refundable; no legal mechanism currently exists for reimbursement if the program is halted.
- Legal risk: Pending and future applicants may face retroactive nullification of their citizenship claims, subject to constitutional challenges.
- Alternative pathways: The Capitanich bill permits residence‑by‑investment programs that do not confer automatic citizenship, offering a potential route for investors seeking long‑term stay without the citizenship component.
Given the unsettled legal environment, potential applicants are advised to monitor congressional developments and court decisions closely before committing funds.
Source article: www.imidaily.com
