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Topic: Permanent residence in El Salvador for crypto entrepreneurs (Read 434 times)

legendary
Activity: 2142
Merit: 1574
Do not die for Putin
And it must be marvellous to go there, to a touristic area, just for a while, living in a bubble where you do not have to deal with the harsh reality of the country. Most Latin America has such a destinations and locations even in relatively violent cities. However, that does not speak of the country, but of the way things can be when you actually want to have peace for the tourism that brings in foreign currency.

You can also argue that Mexico City is marvellous because you got Colonia Roma and it is OK if you do not go to Doctores.
What you are missing out is in two parts. One of them is the area that is touristic could be the place you decide to live, even though the nation as a whole is horrible, they do not touch those places because they want foreigners to come in and spend money and leave which is why even though the nation itself could be bad, those areas are untouched by bad stuff to make it look like they are a good place.

Secondly every nation has its troubles, obviously not as horrible as El Salvador and they are at the bottom of most lists, but if you are living a horrible life, barely surviving in USA and you want to move to El Salvadors touristic place to live rest of your life not caring about money and having a better life, there is a "chance" you can do that. I rather be living like kings in a horrible nation then be starving to death in a great nation honestly.

I do not think I am missing anything, I am clearly saying that you can choose to live in a bubble, although be very mindful that even in those bubbles there can be situations that you may think could not be. For some people that is not a problem, for my personal taste, if I choose to change my country for another it would be to be able to live safer and travel and have a better life. Unfortunately that usually comes with taxes, since safety, education and opportunities come at a cost.
legendary
Activity: 3150
Merit: 1127
And it must be marvellous to go there, to a touristic area, just for a while, living in a bubble where you do not have to deal with the harsh reality of the country. Most Latin America has such a destinations and locations even in relatively violent cities. However, that does not speak of the country, but of the way things can be when you actually want to have peace for the tourism that brings in foreign currency.

You can also argue that Mexico City is marvellous because you got Colonia Roma and it is OK if you do not go to Doctores.
What you are missing out is in two parts. One of them is the area that is touristic could be the place you decide to live, even though the nation as a whole is horrible, they do not touch those places because they want foreigners to come in and spend money and leave which is why even though the nation itself could be bad, those areas are untouched by bad stuff to make it look like they are a good place.

Secondly every nation has its troubles, obviously not as horrible as El Salvador and they are at the bottom of most lists, but if you are living a horrible life, barely surviving in USA and you want to move to El Salvadors touristic place to live rest of your life not caring about money and having a better life, there is a "chance" you can do that. I rather be living like kings in a horrible nation then be starving to death in a great nation honestly.
hero member
Activity: 1344
Merit: 565
As we reported a few days ago, the President of El Salvador, Nayib Bukele, announced during the Miami Conference that the country intends to accept bitcoin as a currency in the country. Now the 39-year-old has added to the appeal of his proposal on Sunday with his new remarks on Twitter. Bukele announced in his latest tweet that:
"The government will immediately grant permanent residency to crypto entrepreneurs."
Today, his proposal was approved by 62 official members of parliament against 19 votes against. Explaining the bill, Bukele added that the country is also proposing a new law to parliament that would allow anyone with a 3-bitcoin investment in the El Salvadorian economy to obtain permanent residency.
It is interesting to know that the official currency of El Salvador is the US dollar. About a quarter of El Salvadorians live in the United States, and last year they sent more than $ 6 billion in remittances despite the Corona epidemic.
Nayib Bukele acknowledged that the move was aimed at creating jobs and providing employment opportunities for thousands of people who now operate outside the country's legal economy. He noted that 70 percent of the population now does not have a bank account and operates in an informal economy.

Source: Yahoo News


Anyone from El Salvador can give any feedback about living costs and living situation in this country?

I believe tomorrow the 7th of September is the big day With El Salvador’s Legal Tender Plans in Sight, Will Bitcoin Break $60K?] the President of El Salvador, Nayib Bukele, and the country, in general, is proving that this can be done, that Bitcoin can be adopted as a legal tender even though there might still be some hurdles and we understand that another south American country like Panama is also considering the move for Bitcoin adoption.
Investing 3 Bitcoins about $150,000 at the moment by foreigners is going to be a big economic bust for the country.
legendary
Activity: 3136
Merit: 1343
Leading Crypto Sports Betting & Casino Platform
Anybody travelled to El Salvador till now? Is it a good place to live? I am thinking about spending some holidays there.

From what I heard, El Salvador is sort of OK, if you have enough money in your pocket. But if you are looking for a cheap destination such as Thailand or Vietnam, then you will be disappointed. For a family of 4, monthly expenses would come in the range of $2,000-2,500, and if you are single then it can be reduced to around $1,000 per month. That is almost 2-3 times more expensive when compared to Thailand. On top of that, crime is a big concern. Although crime rate has fallen steeply in the recent years, organized gangs are still active in the country.
jr. member
Activity: 105
Merit: 2
Anybody travelled to El Salvador till now? Is it a good place to live? I am thinking about spending some holidays there.
sr. member
Activity: 1974
Merit: 453
They intervene because they are worried on what will happen on El salvador if major collapsed happen and we can't deny that this events always happen every year. And I can't also blame other country be worried about them some goverments in other big countries doesn't believe the potential of bitcoin so maybe this is a good wake up call to other nation that if this country became successful when adopting bitcoin then maybe this will be their basis to adopt it on their systems.

If a financial collapse occur in El Salvador, then they the other nations need to worry about it? Latin America is full of failed economies such as Venezuela and Ecuador. And in none of these cases, cryptocurrency was involved. If a financial collapse occurs in El Salvador (although there is hardly any chance of that occurring), the Salvadoran public know how to deal with it. The so called neighboring countries should worry about their own economies first. From what I can see, they are not doing that good.
hero member
Activity: 2632
Merit: 787
Jack of all trades 💯
El Salvador is now a popular name in the crypto community. The President took a bold step to formally endorse bitcoin in the country.
Other nations aren't pleased with El Salvador's decision and are putting pressure to regulate Bitcoin. I wonder how long El Salvador can hold on

I don't understand why the other countries should complain about it. Whether to make Bitcoin as a legal tender or not is an internal matter of El Salvador. Why the neighboring nations try to intervene in this decision? I can understand the frustration from the United States, because the USD was the sole legal tender in El Salvador for so long. Now it has got a competitor. But that is not the case with countries other than the US. Anyway, there is zero chance that the measure will be revoked some time in the future, because the president (Nayib Bukele) looks quite adamant.

They intervene because they are worried on what will happen on El salvador if major collapsed happen and we can't deny that this events always happen every year. And I can't also blame other country be worried about them some goverments in other big countries doesn't believe the potential of bitcoin so maybe this is a good wake up call to other nation that if this country became successful when adopting bitcoin then maybe this will be their basis to adopt it on their systems.
legendary
Activity: 3626
Merit: 1217
El Salvador is now a popular name in the crypto community. The President took a bold step to formally endorse bitcoin in the country.
Other nations aren't pleased with El Salvador's decision and are putting pressure to regulate Bitcoin. I wonder how long El Salvador can hold on

I don't understand why the other countries should complain about it. Whether to make Bitcoin as a legal tender or not is an internal matter of El Salvador. Why the neighboring nations try to intervene in this decision? I can understand the frustration from the United States, because the USD was the sole legal tender in El Salvador for so long. Now it has got a competitor. But that is not the case with countries other than the US. Anyway, there is zero chance that the measure will be revoked some time in the future, because the president (Nayib Bukele) looks quite adamant.
legendary
Activity: 2142
Merit: 1574
Do not die for Putin
..
Anyone from El Salvador can give any feedback about living costs and living situation in this country?

No, nobody from El Salvador can tell you about living conditions because the are on one or more of this categories:

- Too busy trying to go about their lives without being randomly killed in the streets.
- Too busy Working for a drug cartel.
- Too busy In prison.
- Too busy being members of a band that would rather not talk to you.
- Corrupt government officials Too busy getting bribes.

Please notice that you can find this quite mixed, e.g. a Corrupt government official working for a drug cartel in prison, belonging to a band and trying not the get randomly killed.

Apart from all this, the cost of living  is low, the climate is great and you can buy pretty much anything with money.

Have you been in that country? Because I don't think not all areas have that kind living conditions. Just like other 3rd world countries, which are being tagged as terrorist country or drug war killing country. But they also have very good tourist destinations. I don't think we need to confine a certain country to its negative aspect. They always have good ones to offer.

And it must be marvellous to go there, to a touristic area, just for a while, living in a bubble where you do not have to deal with the harsh reality of the country. Most Latin America has such a destinations and locations even in relatively violent cities. However, that does not speak of the country, but of the way things can be when you actually want to have peace for the tourism that brings in foreign currency.

You can also argue that Mexico City is marvellous because you got Colonia Roma and it is OK if you do not go to Doctores.
full member
Activity: 378
Merit: 135
El Salvador is now a popular name in the crypto community. The President took a bold step to formally endorse bitcoin in the country.
Other nations aren't pleased with El Salvador's decision and are putting pressure to regulate Bitcoin. I wonder how long El Salvador can hold on
legendary
Activity: 3136
Merit: 1343
Leading Crypto Sports Betting & Casino Platform
3 BTC it's actually affordable though but anyone is going to move there? Only people from the countries where cryptos are completely banned can consider about moving.

A lot of the countries have citizenship by investment plans, but the paperwork will take a long time and there is very tight screening. If these issues are not there with the El Salvador program, then I guess a lot of people will apply for the citizenship. Cryptocurrency users in general are facing increasing regulations and harassment, and this is especially true in developing countries such as Nigeria, India and China. If the requirements are reasonable, then I guess a large number of users may be interested in the program, especially from these countries.
sr. member
Activity: 2450
Merit: 329
"The government will immediately grant permanent residency to crypto entrepreneurs."
Today, his proposal was approved by 62 official members of parliament against 19 votes against. Explaining the bill, Bukele added that the country is also proposing a new law to parliament that would allow anyone with a 3-bitcoin investment in the El Salvadorian economy to obtain permanent residency.
It is interesting to know that the official currency of El Salvador is the US dollar. About a quarter of El Salvadorians live in the United States, and last year they sent more than $ 6 billion in remittances despite the Corona epidemic.
Nayib Bukele acknowledged that the move was aimed at creating jobs and providing employment opportunities for thousands of people who now operate outside the country's legal economy. He noted that 70 percent of the population now does not have a bank account and operates in an informal economy.
Well, that’s quite good, because you will hardly see a news like this about Bitcoin, where the president and others are so keen to accepting Bitcoin. Most of the news you’re going to see are those of them that are banning bitcoin and news like that. You will hardly see any of them are embracing Bitcoin like this.

But that aside, I don’t think that El Salvador is a place I would like to live, despite that. Because based on what I have known, the place has a very high crime rate and countries with high crime rates are the least places I would like to be.
legendary
Activity: 2142
Merit: 1574
Do not die for Putin
The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities. It is behind a paywall so I cannot link it. You can access a pubic domain source here.
which states:

Quote
Summary of cost of living in El Salvador
...
Cost of living in El Salvador is cheaper than in 65% of countries in the World (51 out of 79)

From your own link:
Quote
Cost of living in San Salvador is 34% more expensive than in Bogotá
Cost of living in San Salvador is 50% more expensive than in Buenos Aires

And that is the average, including the poor cities! If we go for the capital:
https://www.expatistan.com/cost-of-living/comparison/prague/san-salvador

Quote
Cost of living in San Salvador (El Salvador) is about the same as in Warsaw (Poland)
Cost of living in San Salvador (El Salvador) is 6% cheaper than in Prague (Czech Republic)
Cost of living in San Salvador (El Salvador) is 5% more expensive than in Budapest (Hungary)

And are we really going to compare Prague to San Salvador?
This is exactly what Lucius was saying, compared to what, it is cheaper than New York or London or Tokyo but not so much cheaper than a lot of EU cities.
And there is no comparison in the quality of life between these!




...

The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities.
...

As said, compared with the average. Furthermore, most expats are from rich countries hence saying cheap is correct in general sense. Anyway, data is there for whoever needs to figure out the cents. Quality of life can be measured in different ways and weighted differently. Bogotá and El Salvador are terrible for violence, but I guess that if you are happy living in a rich bubble community and ignoring the rest you will find one and do fine.
sr. member
Activity: 2338
Merit: 251
Eloncoin.org - Mars, here we come!
3 BTC it's actually affordable though but anyone is going to move there? Only people from the countries where cryptos are completely banned can consider about moving.
member
Activity: 1358
Merit: 81
I found a website that could give you an idea of ​​the cost of living in El Salvador. It would also be good if you asked yourself what you want to do in El Salvador because the country has the most recent unemployment rate of 7%. You would have to go to El Salvador with the idea of ​​investing in your own business.
You should also know the percentage of insecurity according to official figures in the country that shows an average of three murders a day.
It should be noted that crimes registered so far this year such as homicides, extortion and robbery continue to trend downward.

https://www.expatistan.com/cost-of-living/country/el-salvador

https://www.google.com/amp/s/www.laprensagrafica.com/amp/elsalvador/361-homicidios-en-lo-que-va-de-2021-en-El-Salvador-20210420-0115.html
legendary
Activity: 2828
Merit: 6108
Jambler.io
The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities. It is behind a paywall so I cannot link it. You can access a pubic domain source here.
which states:

Quote
Summary of cost of living in El Salvador
...
Cost of living in El Salvador is cheaper than in 65% of countries in the World (51 out of 79)

From your own link:
Quote
Cost of living in San Salvador is 34% more expensive than in Bogotá
Cost of living in San Salvador is 50% more expensive than in Buenos Aires

And that is the average, including the poor cities! If we go for the capital:
https://www.expatistan.com/cost-of-living/comparison/prague/san-salvador

Quote
Cost of living in San Salvador (El Salvador) is about the same as in Warsaw (Poland)
Cost of living in San Salvador (El Salvador) is 6% cheaper than in Prague (Czech Republic)
Cost of living in San Salvador (El Salvador) is 5% more expensive than in Budapest (Hungary)

And are we really going to compare Prague to San Salvador?
This is exactly what Lucius was saying, compared to what, it is cheaper than New York or London or Tokyo but not so much cheaper than a lot of EU cities.
And there is no comparison in the quality of life between these!


sr. member
Activity: 1974
Merit: 453
Im sure that Salvador is not a country there i want to be a resident

I have the same opinion. They have made Bitcoin the legal tender and during the last 2-3 years, there have been a sharp reduction in crime rate. But these things are not enough to compel me to move to that country. First and foremost priority for me is my security. It is something that doesn't have a price tag. And historically, El Salvador doesn't have a good reputation on that sector. Let a few thousand entrepreneurs move to El Salvador. If everything works out for them, then I will consider my options after a couple of years.
member
Activity: 138
Merit: 12
Im sure that Salvador is not a country there i want to be a resident
legendary
Activity: 3626
Merit: 1217
Heard that a few other countries are also exploring the step taken by El Salvador. All we need is a bit more patience. The next spike is going to take Bitcoin above the $100,000 level, and more and more countries will be open to making at a legal tender. So if you are a Bitcoin entrepreneur or an investor, then you will have a lot more choices by then. There is no need to immediately pack your bags and move to El Salvador, which is famous for gang culture and poverty. Personally I would prefer moving to some of the Caribbean island nations.
legendary
Activity: 2142
Merit: 1574
Do not die for Putin
Apart from all this, the cost of living  is low, the climate is great and you can buy pretty much anything with money.

The cost of living is low compared to which country? Although no one from that country came forward to answer the question, that’s why we have the internet and search engines. I looked at a few sources and post some interesting information that obviously no one wants to read because it is much easier to write in general without referring to the facts.

El Salvador is not a cheap country when I compare it with some EU countries, and some things are even more expensive than here - I won't even mention the price of security at all, because it doesn't really have a price.


The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities. It is behind a paywall so I cannot link it. You can access a pubic domain source here.
which states:

Quote
Summary of cost of living in El Salvador
...
Cost of living in El Salvador is cheaper than in 65% of countries in the World (51 out of 79)


 The references to the political status of the country are based on the abundant news and information available. If you need a source you can use this one. which states among other facts:

Quote
El Salvador has one of the highest rates of crime and murder in the world. The country has been labeled, “the most violent in Latin America.” From 2014 to 2017, about 20,000 people were murdered as a result of gang violence. The gangs are active in 94 percent of the country and run as a continuous threat to children, families and business owners.

and  this:

Quote
About 1.8 million minors between the age of 5 and 17 are forced to work. Often times these children are placed in unsanitary or dangerous work environments just to earn a few dollars for themselves and their families.

Do not assume that my posts are undocumented or that I am speaking without knowing just because I am being kind of funny about it. The reason why nobody from El Salvador is answering is because they are busy trying to survive. That is not factual, just my educated guess.

My other educated guess is that you may achieve far better results asking in the Spanish section of the forum.  Something like this could help "Alguien puede hablarme de las condiciones de vida en El Salvador? Es un buen lugar para ir a vivir y para crear una empresa tecnológica?"




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