President Nayib Bukele of El Salvador has launched a groundbreaking program, allocating 5,000 free passports to accomplished professionals globally from various disciplines.
This initiative, which is valued at $5 billion, aims to attract scientists, engineers, doctors, artists, and thinkers, who will be granted full citizenship privileges, including voting rights with the goal of fostering the nation’s progress and prosperity.
This landmark scheme offers complete citizenship benefits and assures seamless migration with zero tax and duty charges.
What he said
President Bukele has highlighted the inclusiveness and strategic intent of this policy, pointing out the manageable scale of passport distribution, which is less than 0.1% of the national population.
This initiative seeks to fully integrate these experts into the societal fabric, providing them with complete citizenship, including voting rights, thus demonstrating El Salvador’s commitment to fostering a diverse and inclusive environment.
According to a statement made on his X handle, he said,
- “We’re offering 5,000 free passports (equivalent to $5 billion in our passport program) to highly skilled scientists, engineers, doctors, artists, and philosophers from abroad.
- “This represents less than 0.1% of our population, so granting them full citizen status, including voting rights, poses no issues”.
- “Despite the small number, their contributions will have a huge impact on our society and the future of our country.
- Plus, we will facilitate their relocation by ensuring 0% taxes and tariffs on moving families and assets. This includes commercial value items like equipment, software, and intellectual property.”
Transforming El Salvador’s societal and economic landscape
President Bukele has expressed optimism about the substantial impact that these skilled professionals will have on El Salvador’s societal and economic landscape. Although the number is small, the influx of such talent is expected to catalyze significant advancements and innovations in multiple sectors.
The country is committed to facilitating the relocation process for these professionals and their families, ensuring a smooth transition. This includes providing exemptions from taxes and tariffs on various items, such as technical equipment, software, and intellectual properties.
These initiatives aim to transform the country into a hub for high-caliber talent, attracting skilled professionals from various fields looking for new challenges and opportunities, and driving the nation’s innovation and development.
