Amazing news: El Salvador has announced a new opportunity for citizenship by participating in an investment program using crypto. Investing makes you eligible for a residency visa and a path to citizenship, which means you can get a Salvadoran passport.
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Crypto investment program
The government of El Salvador announced a launch called “Adopting El Salvador Freedom Visa Program” on December 7, 2023 with Tether, the largest company in the cryptocurrency industry.
The investment program offers 1,000 crypto investors who invest $1 million in Bitcoin or USDT the opportunity to obtain a Salvadoran passport, also known as citizenship.
The new investment program could bring El Salvador $1 billion if 1,000 wealthy crypto investors participate. The primary aim is to enable participants to play an important role in the future in the areas of culture, security, technology and social progress.
High price for a Salvadoran passport
However, not everyone is positive about the high price that El Salvador has set for the investment program. In one News At
For example, according to Henley & Partners, an investment migration consultancy, you can get Maltese citizenship if you make an investment of €750,000. Not only are the EU countries cheaper, but also the neighboring countries next to El Salvador. For example, the Caribbean island of Antigua and Barbuda offers citizenship with a donation of at least $100,000 to the National Development Fund.
Advantages of investing anyway
Despite the high price, crypto investors could still be persuaded to invest. Pro-Bitcoin policies have been in place since 2021 under the leadership of President Nayib Bukele. This made Bitcoin legal tender and previously taxes on technological innovations were abolished. The aim was to accelerate technological innovation, boost tourism in the country, better combat terrorism and build better regional economic centers.
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