Preheat your oven to 160°C (320°F). Begin by preparing the caramel. In a small saucepan, combine 150 g of sugar and 50 ml of water over medium heat. Stir gently until the sugar dissolves, then stop stirring and let the mixture boil until it turns a deep amber colour. Swirl the pan occasionally to ensure even colouring. Be cautious not to let it burn.
Carefully pour the hot caramel into a round 20 cm (8 inch) baking dish or individual ramekins, tilting them quickly to coat the bottom evenly before the caramel hardens. Allow the caramel to set while you prepare the flan mixture.
In a large mixing bowl, whisk together the eggs and 100 g of sugar until the sugar dissolves and the mixture is smooth. Add the vanilla extract and continue whisking until fully incorporated. Avoid over whisking to prevent too much air from being incorporated, which can create bubbles in the flan.
Gradually pour the milk into the egg mixture, whisking gently to combine. For a silky texture, strain the mixture through a fine mesh sieve into a clean bowl to remove any egg solids. This ensures a smooth and creamy flan.
Pour the flan mixture over the hardened caramel in the prepared baking dish or ramekins. Cover tightly with aluminium foil to prevent a crust from forming during baking. Place the dish in a larger baking pan to prepare for a water bath.
Create a water bath (bain marie) by pouring hot water into the larger baking pan until it reaches halfway up the sides of the flan dish. This technique ensures gentle, even cooking. Bake in the preheated oven for 45–50 minutes, or until the flan is set but still slightly jiggly in the centre.
Once baked, remove the flan from the oven and allow it to cool to room temperature while still in the water bath. This prevents sudden temperature changes, which can cause the flan to crack. Once cooled, refrigerate for at least 4 hours or overnight for the best texture and flavour.
To serve, run a knife around the edges of the flan to loosen it. Invert onto a serving plate, allowing the caramel to cascade over the flan. Serve with a generous spoonful of dulce de leche on the side, adding a decadent, authentic Argentinian touch. Garnish with a sprig of mint or a sprinkle of sea salt for a sophisticated presentation.