El Salvador has opened a brand new ‘freedom visa’ for Bitcoin investors who donate USD 1 million (equivalent in BTC or USD Tether) towards building the country . The golden visa program is limited to1000 investors per year. Approved Investors are eligible for “fast track” Freedom passport.
According to the latest government announcement, the following prohibited Jurisdictions may not apply for the Freedom Passport Program using Bitcoin or Tether:
- Cuba,
- Democratic People’s Republic of Korea (North Korea),
- Iran,
- Syria;
- Crimea (a region of Ukraine annexed by the Russian Federation), and
- Self-proclaimed regions of Ukraine: the Donetsk People’s Republic, the Luhansk People’s Republic, the Kherson People’s Republic and the Zaporizhzhia People’s Republic.
- OFAC Sanctioned Persons are also ineligible for the Freedom Passport program.
The eligibility criteria for participating are primarily designed for high-net-worth individuals or investors and meet the financial threshold specified by the government, set at $1 million in Bitcoin or USDt. Successful applicants are eligible for a Salvadoran passport after background checks and approval which takes upto 6 weeks.
