El Salvador Offers 5,000 Free Passports to Skilled Immigrants
El Salvador ‘s President, Nayib Bukele, announced a groundbreaking initiative yesterday, offering “5,000 free passports” to highly skilled professionals such as scientists, engineers, doctors, artists, and philosophers from abroad. Bukele, in a post on X, emphasized that this number represents less than 0.1% of El Salvador’s population, making it feasible to grant full citizenship status, including voting rights, to these individuals.
Bukele expressed confidence that the contributions of these skilled immigrants would significantly impact Salvadoran society and its future trajectory. Additionally, the government pledged to facilitate the relocation process by offering 0% taxes and tariffs on moving families and assets, including commercial items like equipment, software, and intellectual property.
This move follows Bukele’s recent landslide re-election in February and comes on the heels of Congress approving reforms aimed at boosting domestic and foreign investment by removing income taxes on remittances from abroad.
The initiative builds upon El Salvador’s existing Freedom Visa program, introduced in late 2023, which garnered attention for becoming one of the first citizenship-by-investment programs to accept cryptocurrency payments totaling at least $1 million for citizenship applications. Despite its innovative approach, the program has been criticized for its lack of competitiveness in the global citizenship market.
Details regarding the new initiative’s structure and requirements are yet to be fully disclosed, leaving observers curious about its implementation and effectiveness. The Salvadoran government has not yet provided information on the number of investors who have participated in the program, raising questions about its popularity and success.
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