Salvador's Crypto Citizenship Program Attracts 153 Applicants
Date: 2023-12-11 Author: Dima Zakharov Categories: BUSINESS, IN WORLD
A Unique Immigration Initiative
Salvador's government introduced the "Freedom Visa" program in early December, offering residency and potential citizenship to those willing to invest $1 million in Bitcoin or USDT. The program, limited to 1000 participants, has already received overwhelming response, with 153 applicants in a short span.
Technological Support by Tether
To facilitate business emigration under the program, Tether, a prominent cryptocurrency company, has taken charge of the technological aspects. The move signals a progressive approach to integrating cryptocurrency into national policies.
Citizen Aspirants Speak
Max Keiser, an advisor to Salvador's president, shared the initial enthusiasm, stating, "153 people have registered, totaling $153 million in donations." This robust response emphasizes the potential impact of cryptocurrency on immigration and citizenship.
Global Perspectives on Investment Migration
While Salvador's program sets a high investment threshold, other countries like Malta, Portugal, and Greece offer citizenship for lower amounts, ranging from 250,000 to 810,000 dollars. This comparison sheds light on the evolving landscape of investment migration worldwide.
Bukele's Exit and Future Elections
The eccentric President of Salvador, Nayib Bukele, who played a pivotal role in granting national status to Bitcoin, has announced his departure from office. Bukele's decision stems from his candidacy in the upcoming presidential elections, with results expected in February 2024.
