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Argentina Unveils New Citizenship By Investment Program As It Seeks To Attract Global Capital

by THEFUTURE.TEAM

Argentina has moved decisively into the fast-growing market for investment migration, unveiling the framework for a new Citizenship by Investment Program that could become operational in the fourth quarter of 2026.

A New Route Into One Of Latin America’s Largest Economies

Presented during Argentina Week in Paris by Economy Minister Luis Caputo and Chief of Cabinet Diego Santilli, the program will offer two principal pathways: a USD 350,000 non-refundable contribution to the National Treasury or a USD 800,000 subscription to a government bond created specifically for the initiative.

The government says the program is part of a broader strategy to deepen international economic integration, improve the investment climate and attract foreign capital.

Why The Program Matters Beyond Citizenship

Dr. Juerg Steffen, CEO of Henley & Partners, said the launch reflects Argentina’s effort to compete more effectively for internationally mobile investors, entrepreneurs and talent. He noted that the country’s underlying strengths create a stronger case than the citizenship framework alone.

“Argentina has considerable underlying strengths, and this initiative creates an additional mechanism through which the country can connect with international investors, business owners and entrepreneurial talent,” Steffen said. “We are pleased to see it moving forward and look forward to supporting its international visibility as it progresses towards implementation.”

Part Of A Larger Investment Story

The citizenship program arrives as Buenos Aires seeks to reposition Argentina’s strategic assets on the global stage. In his address to the UN General Assembly in September, President Javier Milei tied the country’s economic future to trade liberalization, investment, strategic resource development and technological modernization.

He highlighted Argentina’s energy potential, critical minerals, talent base and capacity to compete in emerging technologies. That message has carried into Argentina Week in Paris, where government officials have been presenting investment opportunities in key sectors to international capital.

Philippe Amarante, Managing Partner and Head of Government Advisory at Henley & Partners, said the citizenship initiative should be viewed in that broader national context.

“Argentina is articulating a much broader investment proposition based on the considerable strategic advantages the country already possesses,” Amarante said. “Its strengths across energy, critical minerals, food production, technology and human capital give Argentina an unusually broad platform from which to attract internationally mobile capital and enterprise.”

He added that residence and citizenship policy can support wider economic objectives when it is aligned with national priorities and built on strong governance, due diligence and transparency from the outset.

Governance And Compliance At The Center

The Argentine government said the program will include due diligence, financial transparency and risk-management standards aligned with OECD and FATF recommendations. Applications will be screened for identity, source of funds, financial standing, jurisdictional risk, criminal record, reputation and immigration history.

That emphasis on compliance reflects a broader reality across the investment migration sector: governments are increasingly seeking capital without compromising credibility, regulatory integrity or international reputation.

Wealth Mobility Is Becoming More Global

The announcement also lands in a market where residence and citizenship planning is becoming increasingly multi-jurisdictional. Henley & Partners says it is currently working with clients from more than 100 nationalities across over 40 residence and citizenship programs, while 36% of applicants already live outside their country of origin.

For many internationally mobile families, the objective is no longer simple relocation. Instead, they are diversifying residence rights, citizenships, investments, businesses and family interests across multiple countries to increase flexibility and resilience.

Dominic Volek, Group Head of Private Clients at Henley & Partners, said Argentina adds a new dimension to that landscape.

“Many of the families we advise already have lives, businesses, investments and family interests spanning several jurisdictions, and are increasingly building sovereign portfolios that give them greater geographic diversification and optionality,” Volek said. “Argentina adds a new dimension to that landscape.”

He added that the USD 350,000 contribution route creates a notable new option for investors considering citizenship planning, particularly given Argentina’s scale, regional position and lifestyle appeal.

A Signal To Global Investors

Argentina’s entry into citizenship by investment is more than a policy announcement. It is a signal that the country wants to compete for global capital on the basis of its strategic resources, economic potential and policy opening.

If implemented as planned, the program could become an important new instrument in Argentina’s effort to attract investors while reshaping how the country is viewed in the international mobility market.

LVMH Revenue Rises, But China Weakness Continues To Weigh On Luxury Giant

by THEFUTURE.TEAM

A Softer Quarter Exposes The Limits Of Luxury’s Recovery

LVMH, the world’s largest luxury group and parent of Louis Vuitton, Dior, Celine and Hennessy, reported revenue of €18.5 billion in the three months to the end of September, underscoring both the scale of its business and the pressure building across parts of the luxury market.

The company’s revenue rose 1.2% year on year in the third quarter, following a 0.1% increase in the second quarter and a 5.9% decline in the first. The trajectory points to stabilization, but not yet to a convincing rebound.

Organic Growth Misses Expectations

Organic sales growth, which strips out currency effects and portfolio changes, slowed to 1% in the third quarter from 3% in the previous quarter. That result fell short of market expectations and reinforced concerns that the luxury cycle remains uneven.

For the first nine months of the year, LVMH generated sales of €57.1 billion, with organic growth of 2%.

In its statement, the company highlighted the breadth of its portfolio, saying that diversification continues to provide resilience in an uncertain geopolitical and economic environment. That remains one of LVMH’s defining strengths: when one category weakens, another can help offset the downturn.

China Remains The Key Pressure Point

LVMH said sales performed well in the United States, Europe and Japan, but conditions in China remained less favorable. That matters because the country has long been one of the most important growth engines for global luxury brands.

The fashion and leather goods division, LVMH’s most closely watched unit, saw organic sales fall 5% as weaker demand in China weighed on performance. Deutsche Bank said the decline was steeper than the roughly 2% drop expected by analysts.

The segment had delivered its first organic sales gain in two years in the previous quarter, making the latest retreat a notable setback.

Brand Equity Faces A Test In China

The quarter also highlighted the reputational risks facing global brands in China. Louis Vuitton drew criticism after suing local tea company Molly Tea over logo copying. Although the company won the case, the dispute sparked social media backlash and boycott calls, adding another layer of pressure to an already fragile environment.

For a company built on scarcity, aspiration and brand discipline, perception is an asset as valuable as inventory. In a market as digitally connected as China, that asset can shift quickly.

Mixed Performance Across The Portfolio

Not every division weakened. LVMH’s selective retailing business, which includes Sephora, posted an 8% organic sales increase. Watches and jewellery, along with wines and spirits, both recorded 6% organic gains.

That broad mix is precisely what has historically given LVMH an advantage over rivals: it can absorb softness in one category without relying on a single growth driver.

Analysts See A Longer Recovery Ahead

Deutsche Bank analysts said the results could lead to further cuts in earnings forecasts for the second half of 2026 and 2027. They added that it is difficult to see what could improve investor sentiment in the near term.

Still, the bank framed the weakness as cyclical rather than structural. In its view, recovery is taking longer because Chinese demand remains subdued, but the problem does not appear to reflect a permanent deterioration in the brand franchise. Analysts said ongoing brand initiatives are beginning to show results, though improvements are likely to remain gradual.

Investor Pressure Continues To Mount

LVMH’s share price has fallen nearly 40% since the start of the year. In September, L’Oréal overtook the group as France’s most valuable listed company, a symbolic shift that captures how sharply sentiment has changed.

Shares in LVMH were down more than 1.6% in Paris around 10 a.m. CEST following the release.

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