After his clampdown on street gangs, Salvadoran President Nayib Bukele is looking forward to the prospective benefits of promoting relocation to his country.
“We’re offering 5,000 free passports (equivalent to $5 billion in our passport program)”
On Sunday, the President of the Central American country, Nayib Bukele, said in an X post that they were extending the prestigious offer of 5,000 free passports to “highly skilled scientists, engineers, doctors, artists, and philosophers from abroad.” Since it represented “less than 0.1%” of the country’s population, the qualifying lucky achievers would also be granted “full citizen status, including voting rights,” with no overriding issue standing in their way as a major setback.
He also informed interested parties that officials would help them relocate “by ensuring 0% taxes and tariffs on moving families and assets.”
Bukele’s effort aims to positively impact the future of El Salvador, Central America’s smallest country with a population of less than one million.
The Central American country’s strategy contrasts sharply with the United States’ expanding number of undocumented migrants under Biden’s leadership. As of February, about 7.3 million migrants had illegally entered the southwest US border.
Netizens praised Bukele for his “genius” framework. “Now THIS is immigration done right!” and “This is the only sensible immigration policy.” Attract the best, not the worst,” commented an X user.
Bukele is also keen on attracting foreign investment. El Salvador’s Congress passed legislation this month that eliminates income taxes previously levied on money from overseas. Lawmakers announced that money transfers from overseas, including remittances and corporate investments, would henceforth be tax-free.
Before the reform, individuals with incomes of $150,000 or more were required to pay a 30% tax. “The initiative aims to stimulate domestic and foreign investment to boost the economy and generate better and more employment opportunities,” said politician Suecy Callejas in Congress, supporting the reform.