El Salvador has introduced a new citizenship-by-investment program that requires a Bitcoin or Tether investment of $1 million for residency and a pathway to citizenship for up to 1,000 people. While this is a significant income source for countries with similar programs, such as Vanuatu, the price tag is more expensive than those offered by neighboring Caribbean countries, which start at $100,000. Malta offers a cheaper option at $810,000 for EU citizenship. Critics have called El Salvador’s program “uncompetitive in the global market.” However, crypto investors may be attracted by President Nayib Bukele’s pro-Bitcoin policies, including recognizing Bitcoin as legal tender and tax breaks for tech companies.
El Salvador’s $1M Crypto Citizenship!
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