English translation of the original article in Spanish. If there is any discrepancy, the Spanish version prevails.
Introduction
The opening to markets pursued by the National Government since 2024 has placed Argentina in the sights of potential investments by foreign nationals that, for political and regulatory reasons, were unthinkable in previous years.
This change was not due solely to an intense publicity campaign by the authorities of the national executive branch aimed at attracting foreign capital investment, but rather involved a series of fundamental regulatory changes so that this could be carried out.
This favorable context has been taken advantage of not only by companies but also, with increasing frequency, by individuals who can work regardless of a physical space and working hours. We are referring to the so-called “digital nomads” who, being foreign nationals, are often attracted to spend part of the year in the country without the intention of becoming subject to tax on their assets and income obtained abroad.
In this paper we set out to analyze some of those recent regulatory amendments in relation to certain problems we face as advisors in professional practice.
How can they obtain Argentine citizenship? For how long and under what conditions can they remain in the country? Are they taxed on their assets and income obtained in Argentina, or also on those obtained abroad? What do they need to acquire registrable property? Can they obtain a CUIT (Argentina's Unique Tax Identification Code)? Do they need to justify the origin of the funds with which they intend to make the investment? Does it have an impact at the notarial level? To answer these questions, we will begin by analyzing the regulatory framework of the immigration regime that defines citizenship and residence, with the options available to foreign nationals who wish to invest in the country.
Next, along the same lines, we will review the tax implications regarding income and wealth taxes.
Finally, we will comment on the rules of the system for the prevention of money laundering, terrorist financing and the proliferation of weapons of mass destruction (hereinafter, ML/TF/PF) applicable to this type of project.
We hope that the following lines will serve as a guide to the reader in his or her professional practice.
Regulatory framework of the Argentine immigration regime:
The Argentine Republic is a country that since its beginnings has encouraged immigration4, with precise directives in its fundamental Charter to guarantee rights to foreigners who decide to inhabit and populate the national territory5. In exercise of the constitutional power to enact laws on naturalization and nationality6, the National Congress enacted Laws 346 and 25,871. The first of these laws establishes who are considered Argentines for the national legal system, and under what conditions citizenship of our country may be obtained. The second regulates the admission, entry, stay and departure of persons in the country.
These regulatory regimes have substantial differences, so it is advisable to clearly identify the concepts of citizenship and residence which, although mainly linked to a person's temporary stay in a given territory, grant different rights.
Residence only grants the right to live and work legally in the country, whereas citizenship grants the status of a full member of the State with all political rights.
Indeed, residence is an administrative authorization granted by the Executive Branch through the National Directorate of Migration (Dirección Nacional de Migraciones) to remain in the country. It may be provisional, temporary or permanent, but the original nationality is always retained and the holder carries an Argentine DNI (national identity document) bearing the legend "Foreigner"7. Article 24(h) of Law 25,871, regulated by Decree 616/2010 and DNM Disposition 758/2022, provides for the possibility of obtaining a transitory residence as a “Digital Nomad”8.
By contrast, with Citizenship, whether by naturalization or by option9, a definitive legal bond is obtained that integrates the person into the national political community. It is permanent, lifelong10 and grants the right to vote and to be elected to national public office.
Unlike residence, citizenship confers nationality11, which makes it possible to apply for an Argentine Passport and a DNI as a citizen in full right, and the Argentine State provides that person with consular assistance abroad.
There are various grounds on which citizenship and residence may be acquired; in this paper we will focus the analysis on those that may be of practical use to those who intend to maintain a link with Argentina without settling permanently in the country.
Residence by investment, as a person of independent means or on special grounds, and “digital nomad” transitory residence.
The various grounds on which one may apply for residence in Argentina, in immigration terms12, are regulated in Law 25,871.
Permanent residence is intended for foreign nationals who decide to settle permanently and definitively in the country, so we will focus on certain cases of temporary residence (Article 22 of Law 25,871).
Obtaining temporary residence, under any category, will allow foreigners to apply for an Argentine national identity document, and to reside, work and carry out employment activities in the country, including the transitory residence as a “Digital Nomad”.
The first of them worth highlighting is the category of person of independent means (rentista) (Article 23(b) of Law 25,871), provided for those who support their stay in the country with their own resources brought from abroad, with the income those resources produce or with any other lawful income from foreign sources.
Although this type of residence makes it possible to justify the stay in the country, it does not contemplate the possibility of generating Argentine-source income.
For that purpose, in our view, there are the categories of residence by investment or on special grounds. For the purpose of initiating residence-by-investment proceedings, it should be noted that it is provided for in Article 23(d) of Law 25,871.
It is granted for a term of up to 3 years and allows multiple entries into and exits from the country13, so it can be considered a useful tool to start working in the country if one does not intend to reside permanently in immigration and tax terms.
We have verified that under the current administration investment has been one of the grounds of interest considered and weighed by the National Directorate of Migration in granting temporary residences under the investment or special grounds categories.
Although Law 25,871 provides for a specific category of temporary residence by investment, it has not been regulated, so in practice it is advisable to file the application under the special grounds category and put forward the investment as its basis.
Residence on special grounds is provided for in Article 23(n) of Law 25,871 and covers cases of persons who enter the country for reasons not contemplated in the preceding categories and that the National Directorate of Migration (DNM) considers to be of interest. Unlike the previous one, its approval requires the endorsement of the Ministry of Foreign Affairs through its General Directorate of Consular Affairs.
To apply for this residence, it is necessary to submit an investment plan, already made or to be made in the country, specifying the amount, the schedule for the disbursement of funds and the benefits that such investment will represent for the country (inflow of foreign currency, job creation, production of goods or services, among others).
To that end, we understand that investments already made in the country may also be relied upon.
To carry out this procedure, the following documentation must be submitted:
i. Valid passport.
ii. Argentine criminal record certificate issued by the National Recidivism Registry (Registro Nacional de Reincidencia, RNR).
iii. Criminal record certificate from the country of origin: A certificate reliably evidencing the absence of prior convictions or pending criminal proceedings, issued by the competent authorities of the countries where the applicant has resided for a period exceeding one (1) year during the last three (3) years.
iv. Proof of residence in Argentina (for example, a lease or rental agreement, or a title certificate if the applicant owns any property in the country).
v. Proof of regular income (entry stamp into the country in the travel document, which is obtained from the immigration authority's website).
vi. Proof that the amount of income received is equal to or greater than the sum of five (5) minimum living and adjustable wages.
vii. Proof that the income constitutes a benefit from abroad, incorporated into the applicant's assets. These may be financial instruments, real estate or shares in companies. This category does not include remuneration obtained from personal work.
viii. Evidence that the funds entered the country through banking or financial institutions authorized by the Central Bank of the Argentine Republic (Banco Central de la República Argentina, BCRA).
It is important to note that, at the time the procedure is initiated, the applicant for residence must be in Argentina, since the National Directorate of Migration's web system does not allow the application to be initiated from abroad for this category14.
From the beginning of the procedure until its completion, a provisional residence is granted that enables the person to work and reside in the country until the application for residence by investment or on special grounds is finally resolved. However, it should be clarified that temporary residence is a provisional tool, since it will hardly be renewed for a person who remains outside the country for more than one year15, but it will serve that person until the application for citizenship by investment, which we analyze in the next section, is resolved.
Citizenship-by-investment regime
As we said, Law 346 regulates who are considered Argentines for the national legal system and under what conditions citizenship of our country may be obtained.
Article 2 of that law sets out the cases of citizenship by naturalization, requiring continuous and legal residence in the country for two years prior to filing the application, without having made any trip abroad16.
The problem arises because, as we will analyze in the next section, if a foreigner remains in the country for more than one year, he or she acquires the status of tax resident and must pay tax on his or her income and assets in Argentina and abroad. This latter circumstance constitutes a significant obstacle for those who obtain a large part of their income abroad, given the high tax burden in our country.
Historically, Law 346 required that citizenship papers be processed before a federal judge, who, after assessing the legal requirements, granted them by issuing a judgment.
Exceptions are provided to the requirement of two years of continuous stay before filing the application, linked to family matters17 or to services rendered to the country18, but the one that interests us here is the one linked to investments.
Here lies the regulatory novelty, a change promoted by the current National Government with the aim of facilitating the establishment of foreign investment. Thus, by means of Necessity and Urgency Decree (Decreto de Necesidad y Urgencia, DNU) 366/25, Law 346 was amended and, as regards citizenship procedures, the National Directorate of Migration was granted the authority to approve those applications and a new category of citizenship by investment was created.
We think it worth noting that, although the National Government publicized a specific citizenship-by-investment regime (Article 2 bis of Law 346), the truth is that this regime does not fully enjoy legal certainty due to certain constitutional objections raised against it, which are linked to the choice of the Necessity and Urgency Decree as the instrument, which is prohibited in electoral matters by Article 99(3) of the National Constitution19.
Notwithstanding the foregoing, constitutional review is carried out in the specific case and, as long as it is not challenged in court, its application may be requested. Indeed, it is currently provided for in Law 346, as amended by DNU 366/25 and regulated by Decree 524/2025. Although these rules are in force, as of the date hereof it is not operational because the Agency for citizenship-by-investment programs (Article 6 bis of Law 346) has not been created.
This Agency for citizenship-by-investment programs, pursuant to Article 6 bis of Law 346 (as per DNU 366/25), is to operate within the Ministry of Economy, and Decree 524/25, in regulating its operation, assigns to it the task of receiving the investment plans and preparing a report to be submitted to the National Directorate of Migration, which has a term of 30 days to analyze it and approve or reject the citizenship application (Article 4 of Decree 524/25).
As anticipated, although as of the date hereof the Agency for citizenship-by-investment programs has not been created within the Ministry of Economy, we understand that the amendment introduced by DNU 366/25 to Law 346 and its regulation by Decree 524/25 are fully in force, and we consider that the right to petition the authorities allows the investment project to be submitted directly to the National Directorate of Migration requesting its approval, after consultation with the Ministry of Foreign Affairs.
This procedure can be carried out in parallel with the application for temporary residence on special grounds (Article 23(n) of Law 25,871) and, once temporary residence on special grounds (based on the investment) has been obtained, an application for citizenship by investment is filed (Article 2(2) of Law 346).
Notwithstanding the foregoing, we must warn that, as of the date hereof, the citizenship regime requiring legal and continuous stay in the country for a period of 2 years prior to the application in order to obtain Argentine citizenship (Article 2(1) of Law 346) remains fully in force, while the authority of the National Directorate of Migration to grant citizenship papers has been challenged in court and the Supreme Court of Justice of the Nation has not yet ruled on the extraordinary appeal filed in the case20; therefore, the preparation and presentation of the investment plan before the National Directorate of Migration will be essential, since its rejection can hardly be reviewed in court with any favorable outcome. Having analyzed the concepts of immigration residence and citizenship, we must now turn to the analysis of the concept of tax residence, since it is fundamental in any regulatory scheme that seeks to attract foreign capital investment.
Tax residence: Income and wealth taxes
As regards tax residence, its concept does not necessarily coincide with the concept of immigration residence.
It is essential to analyze it because, with respect to national income and wealth taxes, the tax residence criterion has been the standard adopted by the Argentine Legislature to subject taxpayers to taxation vis-à-vis the Argentine tax authorities.
With regard to income tax, resident Argentine individuals and undivided estates are taxed on their income, yields and gains obtained in the country and abroad, which is known as the global or worldwide income criterion21.
This same criterion was adopted for the personal assets tax since, in 201922, the domicile criterion was replaced by the residence criterion provided for in the income tax law, in order to tax the assets held as of December 31 of each year in the country and abroad23.
Although our country has signed several treaties to avoid double taxation24 with respect to income and wealth taxes, which may set out specific provisions regarding the acquisition and loss of tax-resident status, the general rule and main definition to be taken into account arise from Articles 116 to 119 of the income tax law.
For the purposes of this paper, Article 116 of the income tax law provides that “(…) the following shall be considered residents of the country:
a) Individuals of Argentine nationality, native or naturalized, except those who have lost resident status in accordance with the provisions of Article 117.
b) Individuals of foreign nationality who have obtained permanent residence in the country or who, without having obtained it, have remained in the country with temporary authorizations granted in accordance with the immigration provisions in force, for a period of TWELVE (12) months, in which case temporary absences that comply with the terms and conditions established in this regard by the regulations25 shall not interrupt the continuity of the stay.(…)”
From a simple reading of the rule and what has been set out so far, we can state that, if citizenship is obtained, that is, if Argentine nationality is obtained, one automatically becomes an Argentine tax resident.
Likewise, we can state that, if temporary residence is obtained, that is, retaining the status of foreign national and remaining in the country legally for more than twelve months, Argentine tax-resident status is also acquired.
Up to that point there is no variation with respect to the regulation that has prevailed in this area in recent decades and that held back those who came to invest in the country, since the possibility of being considered tax residents entailed having to pay taxes in Argentina on their income and assets in the country and abroad.
The fundamental regulatory change to avoid this obstacle comes not from DNU 366/25, but from Law 27,802 which, on March 6, 2026, by means of its Article 194, added the following paragraphs to Article 116 of the income tax law: “(…) Foreign individuals who have obtained Argentine citizenship by naturalization by virtue of having made significant investments in the country, under the terms of subsection 2 of Article 2 of Citizenship Law No. 346 and its amendments, shall not be considered tax residents under the terms of subsection a) of this article by the mere fact of such naturalization.
For the sole purpose of applying subsection b) of this article, foreign individuals who have obtained Argentine citizenship by naturalization by virtue of having made significant investments in the country, under the terms of subsection 2 of Article 2 of Citizenship Law No. 346 and its amendments, shall be considered individuals of foreign nationality.(…)”.
This regulatory amendment was introduced by a law of the National Congress and not by a Necessity and Urgency Decree, so it is not open to challenge on the basis of the arguments raised against DNU 366/25, and it dispels any doubt regarding the tax treatment applicable to Argentines naturalized by investment, since they will continue to be taxed as non-residents or foreign beneficiaries26.
However, from a tax standpoint it is important to bear in mind that the rules establishing tax residence for persons who remain in Argentina for more than twelve months —excluding temporary absences of less than ninety days— remain in force.
Therefore, they must make sure not to remain in Argentina continuously for more than one year in order to avoid becoming a tax resident and opening the door to claims by the tax authorities in relation to income and wealth taxes under the worldwide income criterion, irrespective of the use that may be made in tax planning of the treaties to avoid double taxation, which exceed the scope of this paper27.
Practical aspects to be considered regarding AML/CFT/CPF
Having clarified the issues related to tax residence, whether one applies for a temporary immigration residence on special grounds (Article 23(n) of Law 25,871) or for citizenship by investment (Article 2(2) of Law 346), when undertaking an investment plan and carrying it out, certain practical issues arise that need to be clarified.
What do they need to acquire registrable property? Can they obtain a CUIT? Do they need to justify the origin of the funds with which they intend to make the investment? To acquire registrable property in the country, in principle, they will have to obtain a Unique Tax Identification Code (Clave Única de Identificación Tributaria, CUIT) for non-residents28 in accordance with ARCA (Argentina's federal tax and customs agency) General Resolution 5803/2025.
Form No. 460 F/PD must be submitted through an attorney-in-fact via the digital filings service of the tax authority's website. The representative must be linked as administrator of tax passwords.
If the foreign national is in the country at the time the procedure is initiated, which is not essential, an appointment may be requested to submit the documentation.
In addition to the form and the power of attorney, a certified copy of the passport or identity document must be provided, together with proof that the person permanently resides abroad. On this last point there is often some difficulty if the country of origin does not provide for the issuance of that type of certificate or does not have a specific body to keep a record of such data on its citizens. In such cases, a certification may be requested at the embassy for submission purposes. It must be borne in mind that every document issued abroad must be apostilled under the Hague Convention —or comply with the chain of legalizations, as the case may be— and translated into Spanish by a registered public translator.
Once the CUIT has been obtained, the non-resident may acquire registrable property.
On that occasion, he or she will need to evidence the origin and lawfulness of the funds used for the acquisition since, in their capacity as reporting entities before the Financial Information Unit (Unidad de Información Financiera, UIF), they will be required to request it in compliance with UIF Resolution 242/23.
For this purpose, there is no specific recipe, but the usual practice is a certification of the origin of funds issued by a Certified Public Accountant based on tax and accounting documents showing where the funds abroad come from, their traceability and their link to lawful activities.
Additionally, and without prejudice to other preventive measures the reporting entity may adopt, the client will be identified by means of open-source searches, and it will be checked that he or she is not listed in the RePET (Argentina's Public Registry of Persons and Entities linked to Acts of Terrorism and its Financing), since otherwise the reporting entity should take the relevant precautions provided for in its matrix and in the regulations, or else proceed to the administrative freezing of the assets.
Let us recall that when we speak of money laundering, we refer to the process through which assets of criminal origin are integrated into the legal or formal economic system with the appearance of having been obtained lawfully29.
Although the reporting entity is not expected to audit its client's transactions, its risk matrix must contemplate indicators revealing higher or lower risk in transactions with its clients.
In this regard, it should be noted that citizenship-by-investment regimes are considered by the FATF (Financial Action Task Force) as a money laundering risk indicator to be taken into account by reporting entities30 within the analysis they must carry out under a risk-based approach.
Practical aspects in notarial matters.
Having reached this point of the paper, we will briefly analyze the direct impact on notarial matters.
Mainly, when dealing with a foreigner, the notary (escribano):
1) C.U.I.T. and its requirement at the registry level: The C.U.I.T. for foreigners must be requested for certain notarial acts, unless the person has obtained Argentine citizenship by investment, since, being Argentine, he or she will have a C.U.I.L. (Unique Labor Identification Code), which is required for certain registry acts.
2) Tax planning: the notary may advise the foreign national on the effects of obtaining Argentine citizenship by investment. That is, even if the foreign national purchases real property, the notary could advise him or her to obtain citizenship under the terms referred to, qualifying such purchase as a “significant investment”, and enjoying the effects —if the requirements are met— of being an Argentine citizen and not being taxed under the worldwide income criterion.
3) AML/CFT/CPF and the notary as a Reporting Entity:
The notary must adapt his or her risk matrix as a reporting entity before the U.I.F., and identify that obtaining Argentine citizenship by investment is, as established by the FATF, a risk indicator.
4) Rural land regime: Law 26,737 is currently in force since, although DNU 70/2023 provided for its repeal, the law's effectiveness was restored by means of a precautionary measure that is currently in force.
That is to say, Law 26,737 sets limits on foreign ownership of the property or possession of rural land31. Broadly speaking, it establishes the total, absolute and incurable nullity of all legal acts entered into in violation of the provisions of said law, without any right to claim compensation for the benefit of the authors of and participants in the act.
Consequently, if the foreign individual obtains Argentine citizenship by investment, the notary should not request the qualification certificate from the National Directorate of Rural Land32, since such person is Argentine and, as such, the aforementioned restrictions provided for the acquisition by foreign persons do not apply to him or her.
5) Border security zone: Regulated by Decree-Law 15,385 (Law 12,913), replaced by Article 42 of National Defense Law 23,554, it declares it to be in the national interest that property located in Security Zones belong to native Argentine citizens. Likewise, it establishes —among other matters— that the National Commission of Security Zones shall exercise in the Security Zones the power of Settlement Policing (Policía de Radicación) in relation to transfers of ownership, leases or rentals or any other form of creation of rights in rem or personal rights by virtue of which possession or tenancy of real property must be delivered, for which purpose it shall grant or deny the corresponding authorizations. Additionally, Resolution 166/2009 of the Ministry of the Interior exempts individuals who are native Argentines or Argentines by option (Law 346, Article 1(2)33) from the prior-approval regime throughout the security zone, and individuals who are naturalized Argentines with more than 5 years since obtaining naturalization are also exempted from the prior-approval regime. In this case, the foreign national who has obtained Argentine citizenship by investment will not be exempted from the prior-approval regime, since the cases of being a native Argentine and/or Argentine by option do not apply to him or her, but he or she will be exempted if more than 5 years have elapsed since obtaining naturalization.
6) Implications in corporate matters: Domicile of directors and the residence requirement under Article 256 and related provisions of the General Companies Law34. The aforementioned article requires that the majority of the board of directors have their actual domicile in the Argentine Republic, which means that they must reside in the country. Therefore, applying for and obtaining Argentine citizenship by investment —in this case, together with the declaration of an actual domicile in the country— constitutes another valid alternative to comply with this requirement, without having to resort to the long and tedious path of ordinary immigration residence.
As we have been able to observe throughout this paper, the reforms introduced to the citizenship-by-investment regime constitute an interesting tool for professional practice in advising on foreign investments.
General information only. This is not professional advice on any particular case.