Official · 02.10.2026Argentina announces South America's first Citizenship by Investment Programme→
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Passport & Mobility

Argentina or the Caribbean? Reach, risk and cost compared

For three decades the Caribbean has supplied most of the world's investment passports. Argentina now offers a South American alternative with wider reach, a higher price and its own legal question.

Updated 8 min readSourced from official announcements

Key facts

  • Passport reach (Henley Passport Index, July 2026): Argentina 169; St Kitts and Nevis 157; Antigua and Barbuda 154; Grenada 148; Dominica 144; St Lucia 143.
  • US: since 1 January 2026, Antigua and Barbuda and Dominica nationals face a partial suspension of visitor and student visas.
  • UK: Dominica and St Lucia now need visas; Argentina, St Kitts, Antigua and Grenada use an ETA.
  • Minimum cost: Argentina US$350,000; Caribbean donations US$200,000–US$250,000.
  • Argentina's legal basis is under appeal at the Supreme Court (details).

Until this year, an investor who wanted a second passport in the Americas had one real choice: the five citizenship-by-investment (CBI) programmes of the Eastern Caribbean. Argentina’s programme, announced in Paris on 2 October 2026, changes that.

The two options are not interchangeable. They differ in reach, in political exposure, in price and in legal certainty. This comparison sets them side by side.

Passport reach: Argentina leads by a clear margin

In the July 2026 edition of the Henley Passport Index, the six passports rank as follows.

Passport Visa-free or on-arrival destinations Henley rank
Argentina 169 16
St Kitts and Nevis 157 21
Antigua and Barbuda 154 24
Grenada 148 27
Dominica 144 30
St Lucia 143 31

The gap between Argentina and the best Caribbean passport is twelve destinations. Against Dominica and St Lucia it is more than twenty-five. We describe Argentina’s reach as about 170 destinations, because counts move during the year.

Raw totals hide the more important story, which is the direction of travel. Several Caribbean passports have lost access to major destinations in recent years, and the reason given is usually the CBI programme itself.

The United States: restrictions on two islands

No passport in this comparison gives visa-free access to the United States. Argentines, like Caribbean nationals, need a B1/B2 visa. The difference lies in whether you can still obtain one.

On 16 December 2025 the US President signed a proclamation that added Antigua and Barbuda and Dominica to the list of countries under partial entry restrictions. From 1 January 2026 their nationals are suspended from entry as immigrants and on B-1, B-2, B-1/B-2, F, M and J visas. Consular officers must also shorten the validity of other non-immigrant visas where the law allows.

The proclamation named citizenship by investment without residence as a reason. It said such programmes create difficulties for screening and vetting. St Kitts and Nevis, Grenada and St Lucia operate similar programmes but were not included. The proclamation calls for a review every 180 days, so the list can grow or shrink.

Argentina’s position is the reverse. It signed a statement of intent in July 2025 to rejoin the US Visa Waiver Program, although no date has been set. See Can Argentines travel to the US without a visa?

The United Kingdom: two islands now need visas

The UK has used visa rules to respond to CBI concerns twice.

  • Dominica: the UK imposed a visa requirement on 19 July 2023, citing concerns about its CBI scheme.
  • St Lucia: the UK added St Lucia to its visa national list in March 2026. A transition period covered travellers who already held an ETA and a confirmed booking.

St Kitts and Nevis, Antigua and Barbuda and Grenada remain visa-exempt, with an electronic travel authorisation (ETA). Argentina is in the same position. The ETA costs £20 and allows stays of up to six months per visit.

The Schengen area: open, but under a new rule

All six passports currently give visa-free entry to the Schengen area for 90 days in any 180. That access now carries a clearer condition.

Regulation (EU) 2025/2441 entered into force on 30 December 2025. It revised the EU’s visa suspension mechanism and added a new ground: the operation of an investor citizenship scheme that grants nationality without a genuine link to the country. The EU can now suspend visa-free travel for an initial 12 months, with a possible extension of up to 24 more.

The pressure on the Caribbean is explicit. According to IMI Daily, the European Commission has asked the five Eastern Caribbean CBI states to end their programmes by 1 June 2028 or risk their Schengen access. The precedent already exists. The EU fully suspended Vanuatu’s visa waiver, with the latest act in force from 3 February 2025. This rule applies to every visa-exempt country that sells citizenship, including Argentina. A well-run programme with strong vetting is the best protection for all its passport holders.

Canada

Argentina, Antigua and Barbuda, St Kitts and Nevis and St Lucia appear on Canada’s list of visa-required countries whose citizens may use an eTA instead of a visa. The conditions are the same for all four: a valid US non-immigrant visa, or a Canadian visa held in the past ten years, and arrival by air. Dominica and Grenada do not appear on that list, so their nationals should check Canada’s official guidance before they travel.

Note the interaction with the US rules. Antigua and Dominica nationals who can no longer obtain US visitor visas also lose the easiest route to a Canadian eTA.

Cost and process

Programme Minimum contribution Typical processing
Argentina US$350,000 donation or US$800,000 bond Not yet published; applications open Q4 2026
Dominica US$200,000 (US$250,000 for up to four people) About 6 months
Antigua and Barbuda US$230,000 About 14 months; 5-day presence rule
Grenada US$235,000 About 7 months
St Lucia US$240,000 15–16 months
St Kitts and Nevis US$250,000 About 5 months

Argentina charges family members separately: US$100,000 for a spouse, US$100,000 for each single child aged 18–25 without children, and US$25,000 for each child under 18. A couple with two minor children pays US$500,000 in total. See our cost guide for the full breakdown.

The Caribbean states agreed a harmonised minimum of US$200,000 in 2024. They have also agreed a 30-day physical-presence rule, which is not yet in force. Argentina has not yet published any residence or presence requirement after the grant.

Tax-transparency reputation

The OECD keeps a list of residence and citizenship schemes that it considers potentially high-risk for evading the Common Reporting Standard (CRS). The CBI programmes of all five Eastern Caribbean states appear on it. Banks must take the list into account when they check a client’s tax residence.

Argentina’s programme is too new to have been assessed. Its design differs on one important point: Argentina taxes its residents on worldwide income at rates of 5% to 35%, and naturalisation alone does not make you an Argentine tax resident. We look at this in How the OECD and FATF view CBI.

Here the Caribbean is stronger. Its programmes rest on statute and have operated for years. Argentina’s route rests on DNU 366/2025, which the Cámara Nacional Electoral declared unconstitutional on 30 June 2026. The government has appealed to the Supreme Court and says the decree stays in force until the ruling is final. Read our legal status briefing.

How to choose

A Caribbean passport is cheaper and faster, with a long record. It is also more exposed to unilateral decisions by the US, UK and EU, and two of the five islands have already paid that price.

An Argentine passport costs more and carries a pending court case. In return it offers wider reach, a country of 46 million people where you could actually live, Mercosur residence rights once you have held the nationality for five years, and a passport held overwhelmingly by people born in the country rather than by investors. For a structured comparison across more countries, see Argentina compared, or request a private briefing.

Sources

Frequently asked questions

Does the Argentine passport give access to more countries than Caribbean CBI passports?

Yes. In the July 2026 edition of the Henley Passport Index, Argentina shows 169 destinations, against 157 for St Kitts and Nevis, 154 for Antigua and Barbuda, 148 for Grenada, 144 for Dominica and 143 for St Lucia.

Which Caribbean passports are affected by the 2026 US restrictions?

A US proclamation of 16 December 2025 partially suspended entry for nationals of Antigua and Barbuda and Dominica from 1 January 2026, including on B-1/B-2 visitor visas and F, M and J student visas. St Kitts and Nevis, Grenada and St Lucia were not included.

Which Caribbean passports need a visa for the United Kingdom?

Dominica has needed a UK visa since July 2023 and St Lucia since March 2026. St Kitts and Nevis, Antigua and Barbuda and Grenada remain visa-free with an ETA, as does Argentina.

Is Argentina cheaper than the Caribbean?

No. Argentina's minimum is a US$350,000 non-refundable contribution, against Caribbean donation minimums of roughly US$200,000 to US$250,000. The higher price buys wider passport reach and, after five years as a citizen, Mercosur residence rights, but Argentina's programme faces a court challenge.

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