It has been just reported the fact that El Salvador has just launched a Freedom Visa for high-net investors. Check out the latest reports about this below.
El Salvador makes an important move
El Salvador has announced a new program called the “Freedom Visa Program” for wealthy individuals who are willing to invest $1 million worth of Bitcoin (BTC) or USDT in exchange for a passport.
The program offers an accelerated path to citizenship and is officially launched on Thursday.
The government will select 1,000 people for this visa program. Interested individuals can begin the application process by submitting a non-refundable application fee of $999 worth of BTC or USDT.
If selected, candidates will be required to give the Salvadoran government a total of $1 million in BTC or USDT.
The website of a certain program calls the money it collects an “investment”, which will be utilized to develop a brand new economy and a brighter future in El Salvador, nicknamed as Bitcoin Country.
The fee of $1 million for obtaining citizenship is ten times larger than the amount required by similar citizenship-by-investment programs in the area, such as the ones offered by Antigua and Barbuda, Dominica, and St. Lucia.
Nayib Bukele, the President of El Salvador, has been a strong supporter of Bitcoin for a long time.
El Salvador has more than $130 million worth of BTC and recognizes the top cryptocurrency as legal tender in the country.
Despite the price increase of BTC this year, Bukele declares that the country has no intention of selling its Bitcoin.
“We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy.”
In order to learn more details about this, we suggest that you check out the complete original article shared by the Daily Hodl.
