The USD 800,000 Public Security Route

• Amount: USD 800,000 (principal applicant)
• Legal nature: subscription of a public security created for the program
• Issuer: Argentine national government
• Financial terms: not yet published
• Approval: not guaranteed; subject to due diligence and DNM decision

The security route was announced in October 2026 together with the contribution route. Its distinguishing feature is that the applicant acquires a financial instrument instead of making a contribution. Whether, when and how the capital is recovered depends entirely on the terms of issue, which have not been published.

For that reason, the economic comparison between both routes cannot yet be completed: the real cost of the security route is the difference between the amount subscribed and the present value of what the investor eventually recovers.

• Interest or yield, if any
• Maturity and amortisation schedule
• Minimum holding period linked to citizenship
• Liquidity, transferability and pledge restrictions
• Currency of repayment and governing law
• Custody arrangements
• Tax treatment
• Consequences of early sale or of a rejected application

Until these are published by the competent authorities, none should be assumed — including by intermediaries offering projected returns.

Any investor evaluating this route should weigh, once terms are known: Argentine sovereign credit risk, the opportunity cost of holding USD 800,000 for an extended period, currency and transfer restrictions, and the possibility that the instrument cannot be sold or pledged during a holding period.

Independent financial and tax advice in the investor's home jurisdiction is advisable before choosing this route.

Family members may be included according to the announced amounts (USD 100,000 for a spouse and each eligible child aged 18–25; USD 25,000 for each child under 18). Whether family amounts follow the security route or are paid as contributions should be confirmed against the implementing rules. See Family Applications.

Due diligence standards are identical for both routes. Given the higher amount, the documentary demonstration of the source of funds and source of wealth tends to be more extensive. See Due Diligence.

• Headline amount of USD 800,000
• The instrument is a public security created specifically for the program
• It is an alternative to the USD 350,000 contribution route