El Salvador, together with the world’s largest stablecoin issuer, Tether, has introduced a new citizenship by investment program, the “El Salvador Freedom Visa Adoption Program”, which aims to attract 1,000 people willing to make a significant investment in the country using Bitcoin or USDT.
Selected candidates will receive a residency visa, a path to citizenship, and the opportunity to become integral contributors to the “socioeconomic transformation” of El Salvador.
Tether selected as technology provider for El Salvador
In collaboration with Tether, the government of El Salvador announced the launch of the program. Its goal is to create an environment where people can actively shape the future of the nation, catalyzing economic expansion and driving transformative social change.
The initiative focuses on establishing El Salvador as a global center for cutting-edge technology, financial innovation, culture, security and social progress.
According to the announcement, applicants must meet the eligibility criteria and make a non-refundable deposit of $999 in Bitcoin or USDT during the streamlined application process to participate in the program. Upon acceptance, the deposit will be credited toward the required investment of $1 million in Bitcoin or USDT, which secures the Freedom Visa and paves the path to citizenship.
The program aims to finance vital social development projects, including improvements in education, medical infrastructure, essential services and transport and communication networks.
As announced, these initiatives seek to improve communities and lay the foundation for a more prosperous future for all Salvadorans, while positioning El Salvador as a symbol of progress in Central America.
Adriana Mira, Vice Minister of Foreign Affairs of El Salvador, expressed the importance of the program in economic development and innovation. The streamlined application process and emphasis on visionary contributions to the nation’s growth underscore El Salvador’s dedication to inclusive development.