Who Operates Argentina’s Citizenship by Investment Program — and Where Should Applicants Apply?

Argentina has announced the price of citizenship and promised to open applications before the end of 2026. At the programme’s Paris presentation, it left the main question unanswered: who will receive the file, investigate the applicant and move a $350,000 case towards a decision.

The world’s largest investment-migration firms competed for that position. One bidder nearly secured a four-year contract before Argentina changed the model.

Argentina Tried to Appoint a Master Operator

In December 2025, the Economy Ministry sought one contractor to design, launch and promote the programme for four years or its first 5,000 successful cases. Henley & Partners, Latitude and firms experienced in Caribbean, Vanuatu, Turkish, Egyptian and Maltese programmes entered the competition, although none had operated inside Argentina’s immigration system.

A four-company consortium became the favourite. Henley and Latitude challenged the evaluation, and Economy Minister Luis Caputo cancelled the procurement on April 14, 2026. No replacement tender followed.

Eight days later, Javier Milei appointed Aixa Granara as the unpaid director of APCI, the state Citizenship by Investment Programs Agency. The machinery for a state-run launch was already being assembled.

Who Controls the Programme Now?

DNU 366/2025 introduced citizenship for a “relevant investment”, while Decree 524/2025 placed APCI under the Economy Ministry. APCI receives the application, determines whether the investment qualifies and sends a recommendation to the National Directorate of Migration, which makes the final decision.

Caputo is the political sponsor and Granara directs the agency. Former justice minister Mariano Cúneo Libarona helped introduce the wider reform, but there is no evidence that his March 2026 departure caused the tender to fail: the agency and procurement belonged to Economy from the start.

This division answers the operator question. APCI runs the process and Migration grants or refuses citizenship. No private firm replaces either authority.