President Nayib Bukele of El Salvador has announced a plan to offer 5,000 “free passports” to highly skilled workers from abroad, aiming to stimulate the country’s economy through foreign investment. The offer extends to professionals such as scientists, engineers, doctors, artists, and philosophers, who will receive full citizen status and voting rights. To facilitate their relocation, El Salvador will waive taxes and tariffs on moving families and assets, including equipment, software, and intellectual property. Bukele expressed confidence that the contributions of these individuals will significantly impact the country’s future. However, details of the plan have not yet been disclosed by the government. This initiative is part of a series of radical reforms introduced under Bukele’s leadership, including adopting Bitcoin as legal tender alongside the US dollar, despite repeated warnings from the International Monetary Fund about the risks associated with cryptocurrency volatility. Additionally, a migration law passed last year aims to expedite citizenship for foreigners supporting social and economic development programs by donating Bitcoin. Bukele’s administration has also faced criticism for its harsh approach to combating crime, which it claims has improved security but has been condemned for alleged human rights abuses such as mass detentions and torture in jails.
