Argentina vs. Other Citizenship Programs: Jordan, North Macedonia and Global Alternatives

International investors are usually presented with two options: Caribbean citizenship programs or European residence permits (Golden Visas). Outside that axis sits a smaller group of regional or emerging schemes — in the Middle East (Jordan), Southeast Europe (North Macedonia) and, to a lesser extent, Asia.

Many of these schemes were designed to attract liquidity into local banking systems or to create specific local jobs. For the investor, that can mean significant illiquidity or operational involvement in exchange for mobility that is often regional rather than global.

Jordan

• Capital commitments reported from approximately USD 750,000 to USD 1,500,000.
• Options include interest-free deposits with the Central Bank of Jordan, interest-free treasury bonds, local shares or business projects with local hiring obligations.

North Macedonia

• Historically from EUR 200,000 in local private investment funds to EUR 400,000 in direct business investment with local job creation.
• The scheme has faced pauses and operational reviews.

Argentina

• USD 350,000 non-refundable contribution to the National Treasury, or
• USD 800,000 subscription of government securities specific to the program.

Key difference: Argentina does not require the investor to run a local business, hire staff or hold capital in local-currency deposits. The specific terms of the program securities are set by the authorities and have not yet been published in full.

Other programs

• Jordan allows broad family inclusion, including minor children, unmarried daughters and dependent parents, subject to documentation requirements.
• Other emerging programs often restrict adult dependants unless investment amounts increase.

Argentina

• Spouse: additional USD 100,000.
• Children under 18: USD 25,000 each.
• Children aged 18 to 25: USD 100,000 each.

Other programs

• Most do not impose long-term physical residence. However, business or project-based routes (for example in Jordan) may require local oversight, representation or ongoing audits.

Argentina

• No physical residence requirement to maintain citizenship.
• Worldwide income taxation applies only if the investor establishes tax residence in Argentina. Investors should obtain individual tax advice.

Other programs

• Schemes outside the established circuit are often exposed to legislative change and international scrutiny. North Macedonia's route, for example, has faced pressure from the European Commission over visa-free access to the Schengen Area.

Argentina

• Citizenship is granted by naturalization and is described as irrevocable and non-renounceable under the Argentine legal framework, which offers investors a stable legal status once granted.

Other programs

• Jordan: approximately 50–55 visa-free destinations; visas required for the Schengen Area, the United Kingdom, the United States and most of the Americas.
• North Macedonia: visa-free travel to the Schengen Area, but no E-2 treaty with the United States.

Argentina

• 170+ destinations visa-free or on arrival, including the Schengen Area, the United Kingdom, Japan and South America.
• E-2 Treaty Investor visa eligibility for the United States, subject to US requirements.
• MERCOSUR residence and work rights across member and associated states such as Brazil, Uruguay, Paraguay and Chile.

Smaller programs are particularly exposed to international pressure from the EU, the OECD and the FATF.

• Montenegro closed its citizenship by investment program at the end of 2022 as part of EU alignment.
• Cyprus ended its program in 2020 following regulatory investigations.
• Austria has no standard program; citizenship for exceptional economic contribution is discretionary, rarely granted and without defined timelines.

Argentina, a G20 economy, has structured its program through a national legal framework with government due diligence, rather than through a scheme dependent on EU accession commitments. As with any new program, implementing details are still developing.

Jordan or North Macedonia may suit investors with specific commercial or family interests in those regions. Argentina may suit investors seeking a broad global asset: a clear investment structure, strong passport mobility, E-2 treaty access and MERCOSUR rights — while accepting a new program whose operational details are still being defined. No program is universally superior, and no program guarantees approval.