I literally looked into how to gain citizenship to El Salvador last night. Not because I would want to move there, but just to see what it takes just in case my crypto becomes worth millions. As they aren't taxing selling BTC if this passes that is a huge motivation to move wealth there vs selling in a country that wants to take a large chunk of my gains.
If I looked into with my small holdings you know that others who have substantial gains will take a very serious look at it.
BTW, 5 years of living there before you can gain citizenship...they need to drop that to 12 months and I bet a massive flow of wealth goes into their Country as BTC millionaires flock there to avoid the massive tax bills they will be facing.
Invest 3 BTC in a crypto business in El Salvador and get permanent residency.
That's what the President said on the Twitter call this morning.
105K for a citizenship.
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Permanent residency, not citizenship.
Interesting, as there are lots of reports of it being citizenship. Permanent residency makes more sense at this point though.
Mobility of wealth is going to be a massive change, as countries are going to have to compete for citizens, like they compete for companies now. Who will have the best offers?
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