El Salvador’s National Bitcoin Office says it’s already received “many dozens of applications” for the country’s new Freedom visa.
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El Salvador offering Visas and citizenship to anyone investing $1million (in USDt or Bitcoin) in the country
Frankly uncompetitive in the global market (can get EU citizenship for less) so disappointing https://t.co/ALydiMAJRj
— Alistair Milne (@alistairmilne) December 7, 2023
However, the National Bitcoin Office says the $1 million price tag for the Freedom visa was more than fair.
“If anything, in fact, it is actually underpriced. While there are many citizenship programs available in the world, there is only one Bitcoin Country,’ the spokesperson said.
Despite the high price tag relative to other visa programs, the numerous pro-Bitcoin policies and incentives established by President Nayib Bukele over the past few years could be enticing to Bitcoiners looking for a sea change.
In Sept. 2021, Bukele recognized Bitcoin as legal tender and removed all capital gains taxes for Bitcoin investors. He later scrapped all forms of taxation for tech and crypto firms that chose to set up operations in the country.
Bukele stepped down as president on Dec. 1 to focus on his reelection campaign ahead of the country’s general election in February 2024.