El Salvador Looks To Offer Citizenship To Highly Skilled Professionals

Nayib Bukele, the President of El Salvador, revealed a strategy to provide 5,000 complimentary passports to highly skilled professionals globally, highlighting its potential impact on the future of the nation. The development unfolded when Bukele announced via X that El Salvador aims to offer 5,000 free passports, valued at $5 billion in their passport program, to proficient scientists, engineers, doctors, artists, and thinkers via international locations.

The Perks Of Relocating

The President stressed that this accounts for less than 0.1% of the El Salvador population, assuring no complications in granting them full citizenship, including voting rights. Additionally, he pledged zero taxes and tariffs on relocating families and assets, encompassing items of commercial value such as equipment, software, and intellectual property.

This initiative is significant considering the fact that the El Salvador passport currently stands at 38th in the Henley Passport Index, providing visa-free access to 136 destinations all over the world, including numerous countries across both Western Europe as well as South America.

Becoming A Global Destination

The decision aligns with the recent endeavors made by President Bukele to attract foreign investment and talent. Previously, the local Congress passed a migration law facilitating expedited citizenship for foreigners who contribute Bitcoin to various social and economic development projects in the country.

Moreover, El Salvador made history by becoming the first country to adopt Bitcoin as a legal tender, a move which sent shockwaves reverberating across the globe. Now, the latest announcement by President Bukele is being viewed as a continuation of these efforts to position El Salvador as a global center for innovation and talent.