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Topic: Permanent residence in El Salvador for crypto entrepreneurs - page 2. (Read 434 times)

sr. member
Activity: 1974
Merit: 453
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.

Obviously if you want to live in a decent neighborhood, then the cost of living would be high. Maybe the other posters are talking about living in urban slums, or remote villages. I would not prefer that option, because although the crime rate has declined recently, El Salvador has a reputation of being home to some of the most violent gangs in Latin America. Obviously, the price of security can't be measured, just as Lucius stated. If you get kidnapped by some of these gang members, then none of your savings will come to any use.
legendary
Activity: 3108
Merit: 5364
Fortis Fortuna Adiuvat⚔️
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.
full member
Activity: 1904
Merit: 138
★Bitvest.io★ Play Plinko or Invest!
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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 of 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.
legendary
Activity: 2142
Merit: 1574
Do not die for Putin
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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.
hero member
Activity: 1666
Merit: 753
This really shows the commitment of El Salvador in BTC. I like it.

Even though others may think that this is a cheap scheme to get overseas investors funds, ask yourself, isn't that precisely what every single advanced nation is currently doing through their significant investor immigration packages? The requirements for those are usually even higher, I know one in my home country that requires an investment of $5 million AUD in local investments for your applicaiton to be even considered.

With the ongoing airdrop and this initiative, it will be a matter of time before grassroot bitcoin adoption skyrockets in El Salvador.
legendary
Activity: 3108
Merit: 5364
Fortis Fortuna Adiuvat⚔️
El Salvador must b a good place to live for a bitcoiner.

How do you conclude that? I wrote some things about the cost of living in that country, but no one commented on what those prices mean compared to the prices in their countries - but many would be surprised to know that this is not a country where they can live like kings with $500 or $1000 a month, especially in urban areas. In addition, crime is still at a high level - and I don't think anyone wants to live cheaply, and at the same time take risks getting robbed every day when he stops at a traffic light, or becoming a collateral victim of local gangs.

El Salvador is certainly an exotic country for anyone coming from the Western world, but it is far from a country where most of these people would like to live permanently - regardless of Bitcoin as a legal tender.
legendary
Activity: 3626
Merit: 1217
If they could succesfully supress the criminal rate in their country while also enforcing this law that in favour of cryptopeneur they could be another dubai where rich people gathers.
The bill they gonna pass is some revolutionary ones that have such big potential to gather capital to their country, such a waste for that effort if they can't optimally attract cryptopreneurs from over the world just because of that.

If political stability is there, then the crime rate may remain low. From what I heard about President Bukele, he is a very genuine guy who has been very tough on crime and corruption. Within the last 2-3 years, he has managed to bring crime rate in El Salvador under control. And it was no easy task, as El Salvador was famous for some of the most violent gangs, such as Mara Salvatrucha 13 (MS 13) and Barrio 18. I am just saying that those who want to move to El Salvador needs to be cautious. It may not turn out to be the paradise which you are expecting.
legendary
Activity: 2898
Merit: 1027
Leading Crypto Sports Betting & Casino Platform

El Salvador must b a good place to live for a bitcoiner.

Like any country, your cost of living varies to where in the country you live in. If in the major cities, you may find it higher because prices of basic needs are higher especially if you rent a house. Living somewhere outside the cities would be cheaper but comes with risk. Be reminded that it's Central America already and things are true with what you see on TV. I'm not from El Salvador but because base on my experience it's how they are.

With a country having such a high crime rate, I would not recommend moving to remote rural areas. I know that the crime rate has come down recently, with the president (Nayib Bukele) cracking down on the gang culture. But in Latin America, there is no stability as far as the political situation is concerned. On top of that, the Americans have also made it one of their top priorities to get Bukele out of office. In case he is replaced as the president, then there is a good chance that the pro-Bitcoin policies will be reversed, and the crime rate may go back to the previous levels.
If they could succesfully supress the criminal rate in their country while also enforcing this law that in favour of cryptopeneur they could be another dubai where rich people gathers.
The bill they gonna pass is some revolutionary ones that have such big potential to gather capital to their country, such a waste for that effort if they can't optimally attract cryptopreneurs from over the world just because of that.

legendary
Activity: 3136
Merit: 1343
Leading Crypto Sports Betting & Casino Platform

El Salvador must b a good place to live for a bitcoiner.

Like any country, your cost of living varies to where in the country you live in. If in the major cities, you may find it higher because prices of basic needs are higher especially if you rent a house. Living somewhere outside the cities would be cheaper but comes with risk. Be reminded that it's Central America already and things are true with what you see on TV. I'm not from El Salvador but because base on my experience it's how they are.

With a country having such a high crime rate, I would not recommend moving to remote rural areas. I know that the crime rate has come down recently, with the president (Nayib Bukele) cracking down on the gang culture. But in Latin America, there is no stability as far as the political situation is concerned. On top of that, the Americans have also made it one of their top priorities to get Bukele out of office. In case he is replaced as the president, then there is a good chance that the pro-Bitcoin policies will be reversed, and the crime rate may go back to the previous levels.
legendary
Activity: 2982
Merit: 1028

El Salvador must b a good place to live for a bitcoiner.

Like any country, your cost of living varies to where in the country you live in. If in the major cities, you may find it higher because prices of basic needs are higher especially if you rent a house. Living somewhere outside the cities would be cheaper but comes with risk. Be reminded that it's Central America already and things are true with what you see on TV. I'm not from El Salvador but because base on my experience it's how they are.
I agree to that, most of the time those who are residing inside the city do have more expensive living.

While for those who are outside they have some lesser amount since developments are very likely much poorer than those from the city.

Liking the idea of El Salvador's offer they are possible to enjoy their crypto while being adopted/migrant to this country. If you have enough crypto to show up then you are most welcome to live their.
hero member
Activity: 2758
Merit: 595
https://www.betcoin.ag

El Salvador must b a good place to live for a bitcoiner.

Like any country, your cost of living varies to where in the country you live in. If in the major cities, you may find it higher because prices of basic needs are higher especially if you rent a house. Living somewhere outside the cities would be cheaper but comes with risk. Be reminded that it's Central America already and things are true with what you see on TV. I'm not from El Salvador but because base on my experience it's how they are.
full member
Activity: 2450
Merit: 209
Eloncoin.org - Mars, here we come!
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 think even those Miners from China that had been reportedly banned are now planning to migrate in El Salvador as it is now a sanctuary for all Bitcoin users and beneficiaries worldwide.
though i Hear that also the State of Miami is thinking of the same action now towards favoring the Bitcoin mining .
It's just the start-up. I saw some other politicians are also supporting bitcoin as legal tender and they want to propose a bill about it. This is a significant moment in the crypto industry and shows the bright future of crypto. Others will follow up soon for not being so late in the adoption. A courageous decision for country leaders around the world.
Being the first country in the world to try to make Bitcoin a legal tender was not an easy decision, Of course there will be politicians who oppose.  but if this program is a huge success in El Salvador, investors' money goes into El Salvador and makes the economy skyrocket then other countries will surely follow them quickly.
there is also a country that lets Bitcoin to be in their Stock market and i believe that it is Bulgaria?
full member
Activity: 952
Merit: 137
★Bitvest.io★ Play Plinko or Invest!
It's just the start-up. I saw some other politicians are also supporting bitcoin as legal tender and they want to propose a bill about it. This is a significant moment in the crypto industry and shows the bright future of crypto. Others will follow up soon for not being so late in the adoption. A courageous decision for country leaders around the world.
Being the first country in the world to try to make Bitcoin a legal tender was not an easy decision, Of course there will be politicians who oppose.  but if this program is a huge success in El Salvador, investors' money goes into El Salvador and makes the economy skyrocket then other countries will surely follow them quickly.
legendary
Activity: 2800
Merit: 1150
I do not know anything about El Salvador, but this sounds like a good reason to move there if you have a decent size company. You do not have to move there completely, if you have a decent size company that makes a bit of money from crypto, you could move there, start a company, get a permanent residence, move all the business there, pay taxes accordingly, then just move back to wherever you were or where you want to go. This way you would feel a lot easier, that is why I believe it is not a bad idea at all. Maybe even live there?


I mean there are people who live there so I doubt it would be unlivable, it is surely a good place to live if you have money as well because I am 99% sure that as long as you have money, every nation is a good place to live, doesn't matter how terrible it may "look" when you are rich you open the doors for beauty in every nation as well.
sr. member
Activity: 1974
Merit: 453
This is tempting but we have to remember that when the businesses go there, they will be considered as crypto pioneers and at the same time a crypto guinea pig for other businesses to see if moving to El Salvador is going to be a success and it is an uncertain future because their growth is in parallel with the growth of bitcoin economy in El Salvador.

I would have moved to El Salvador, but the high crime rate and the language issues deter me. Here in India, the cryptocurrency users are facing a lot of harassment from the government due to the vague status of Bitcoin. I think the best thing for people like me to do would be to wait for another couple of years, so that more countries would legalize cryptocurrency. And who knows? We may get the option of moving to an English-speaking country with low crime rates. After waiting for so long, it doesn't hurt to wait for another 2 years.
sr. member
Activity: 1624
Merit: 309
Leading Crypto Sports Betting & Casino Platform
This is tempting but we have to remember that when the businesses go there, they will be considered as crypto pioneers and at the same time a crypto guinea pig for other businesses to see if moving to El Salvador is going to be a success and it is an uncertain future because their growth is in parallel with the growth of bitcoin economy in El Salvador.
sr. member
Activity: 1036
Merit: 286
Just imagine how huge the influence bitcoin has made over the years wherein a country and a President is already pursuing to legalize and operate the use of bitcoin within their state. At some point, it is really risky but if ever it causes them lots of advantages over other contries that are against the use of bitcoin, other countries will surely follow his lead. It can also earn you a free citizenship if you are a crypto entrepreneur which can be helpful for those who are having difficulty investing on crypto due to their country's restrictions with the use of it.
full member
Activity: 1638
Merit: 122
this is a good news for those aliens ( people that are not really from that state ) but wants to stay or to live in there because the most common problem that they are facing  is they are being sent back to their origin if authorites figured out that they arent from the current state as it is illigal .
 this move encourages more crypto users but this was not really a good news for the people that are already a citizen of that place .
hero member
Activity: 2394
Merit: 756
This really motivates more people to accumulate more BTC (in which he said that 3 BTC is the minimum to be granted permanent residency in their country). It’s a huge step for them and hopefully that others would be following suit (but not sooner). Few countries like China are anti-crypto, but most of the countries worldwide are categorizing them as securities. El Salvador has just made history by making Bitcoin as legal tender by majority of the votes.

There's always different perceptions with kind of moves El Salvador did, for sure there are people

who wanted to enjoy and take this opportunities, living inside their country and have  permanent residency, though there might be
more relative rules after this but for sure interest still attracts crypto lovers to move or check this one to look for any chance to live to
this place.

This is good move made by them since for sure they can lure more whales to invest on their country since they are crypto friendly place where people who use crypto loves to live on. I do hope that other countries will follow what El Salvador did since they will be listed on history and will be the content of talks among people.

 For sure they can earn a good benefits for using crypto.
hero member
Activity: 1414
Merit: 574
I want to appreciate the decision made by the president of El Salvador.  He gave a policy on BTC that is as a legal currency.  BTC is back at the original purpose of its creation and in this country will be a role model for other countries.  Can BTC be legalized, all doubts can be answered?  inflation and even bubbles that are always linked to BTC will be shown in the policy results.
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