El Salvador Offers 5,000 Free Passports to Skilled Professionals
President Nayib Bukele of El Salvador has unveiled a bold plan to provide 5,000 free passports to highly skilled professionals worldwide, aiming to bolster the country's future prospects.
Boosting El Salvador's Global Reach
El Salvador's passport currently ranks 38th in the Henley Passport Index, offering visa-free access to 136 destinations, including many in Western Europe and South America.
This initiative follows El Salvador's recent efforts to attract foreign investment and talent. The country's Congress passed a new migration law, enabling expedited citizenship for foreigners who donate Bitcoin to its social and economic development projects, as reported by Benzinga.
President Bukele's Vision
President Bukele, a strong proponent of Bitcoin, temporarily stepped down to focus on his 2024 presidential campaign. He views the migration law as crucial to the nation's interests.
The law, which is set to take effect soon, allows foreigners to obtain citizenship by donating Bitcoin to support El Salvador's development. The country's National Bitcoin Office (ONBTC) shared the news on social media, highlighting the growing interest in Bitcoin-related projects in El Salvador.
Attracting High-Net-Worth Individuals
In addition to the citizenship program, El Salvador has launched the "Adopting El Salvador Freedom Visa Program," targeting high-net-worth individuals and investors. Participants can obtain citizenship by investing $1 million in Bitcoin or Tether, with the program aiming to inject $1 billion into the economy.
As El Salvador continues to implement innovative strategies to attract talent and investment, the impact of these initiatives on the country's economic and social development remains to be seen. However, President Bukele's proactive approach underscores the nation's commitment to embracing new opportunities and technologies.
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