El Salvador is offering 5,000 free passports to skilled international workers, as announced by the country’s president Nayib Bukele.
More specifically, foreigners eligible for this citizenship scheme include highly skilled scientists, engineers, doctors, artists, and philosophers, VisaGuide.World reports.
Commenting on the new announcement, Bukele said that the contributions of foreign skilled workers will significantly influence society and the future of El Salvador.
This represents less than 0.1 percent of our population, so granting them full citizen status, including voting rights, poses no issue. Despite the small number, their contributions will have a huge impact on our society and the future of our country.
Bukele further noted that the government will facilitate the relocation of beneficiaries, by guaranteeing zero taxes and tariffs on moving both their families and assets.
This includes commercial value items like equipment, software, and intellectual property.
Bukele stated that further detailed information will be provided regarding this matter.
In 2023, El Salvador Launched a Visa Scheme for Foreign Bitcoin Investors
On December 7, 2023, El Salvador launched a new program called “Freedom Visa” offering residency and a pathway to citizenship to foreign investors who would invest $1 million in Bitcoin (BTC) or Tether (USDT) in the country.
This scheme, limited at 1,000 participants per year, was designed to draw rich foreign investors to support the country’s goal of becoming the “land of economic liberty.”
By participating in establishing El Salvador as a dynamic global center for cutting-edge technology and financial innovation, individuals become integral partners in steering a nation toward exceptional growth and evolution and offer a path to obtain a Salvadoran Passport.
As further reported back then, the Freedom visa scheme almost reached full capacity a few days after its launching.
However, market commentators such as Altana Digital Currency CIO Alistair Milne argued that the $1 million investment requirement makes this scheme less competitive on a global scale, since there are other countries that provide citizenship at a lower investment.
On the other hand, the National Bitcoin considered as reasonable the cost investment for the Freedom visa.
While there are many citizenship programs available in the world, there is only one Bitcoin Country.
In 2021, El Salvador became the first country in the world to introduce Bitcoin as a legal tender. Henceforth, all businesses in Latin America must accept the emerging cryptocurrencies as long as they possess the necessary technology.