El Salvador: Visa Program Introduced for Bitcoin Investors

El Salvador has launched a new Freedom Visa Program, targeted to crypto entrepreneurs and high-net-worth individuals seeking to relocate to El Salvador. The visa is available for up to 1,000 participants per year. Successful applicants are granted lifelong residence in El Salvador and are eligible for Salvadoran citizenship. To qualify, individual applicants must transfer at least 1 million in Bitcoin or U.S. dollars to El Salvador. According to the government, the contribution will go toward economic development, cultural enrichment, and social programs for economic development. Applications can be submitted online and can take the government up to six weeks to process. Applicants can include eligible family members (typically spouse, children, and in some cases other dependent family members) on the application. Interested applicants should contact their Fragomen professional for assistance.