Topic: Residency in El Salvador (Read 106 times)

I didn't look into PhD-level education, and would imagine it could depend as much on individuals as much as institutions, but I can say that close to some of the higher-ranked universities you'd be able to live comfortably in modern accommodation and in peace, find well-equipped gyms for a mens sana in corpore sano, own a car or otherwise be mobile (San Salvador is very hilly, not ideal for bikes), and I'd be confident in the provision of labs and other technical infrastructure.

If it's bitcoin-related, you have job creation announcements starting to come through now, so you might get more information from those companies or the staff they employ, and I think the bitcoin community is still small enough to provide excellent networking opportunities.

Wonderful firsthand experience from @BJ2gCFtGbiVK. I have heard too many negative account about that country but I am glad you have given me a positive one. Just finished my Masters programme and looking for a country to study for PhD. I was attracted to El Salvador because of its Bitcoin friendly stance, but other factors like high rate of crime discouraged me. Although I am still considering the quality of education in that country but the world class service you received might be a pointer that their educational system might be sound.   

I'd like to update this thread, as although I'm no longer in El Salvador it may be of interest to those thinking of going there.

I spent three months in the country with a view to residency. I didn't go to Bitcoin Beach, I didn't spend any bitcoin in stores, I mostly stayed in relatively affluent areas in San Salvador. On that basis, I may have had a slightly different experience to other forum users.

In common with others though, I can confirm how warm-hearted, open and friendly the people I met there were. My Spanish improved a lot and I had plenty of opportunities to practise. I was able to learn quite a lot about life over the past thirty or forty years, how people got through difficult times and from where they draw their sense of pride and optimism. I found businesses opening post-pandemic attracting regular clientele and bringing new services to the city with a local touch. The nation feels like a big family, all the more valuable given its scarcity these days.

I found a range of private school options within the vicinity of apartments and housing at prices comparable to a small US town away from the coasts.

I went to a car showroom to ask about buying a car locally and found the process to be simple and without unnecessary bureaucracy, with lower prices than those to which I'm used.

I was a little surprised at the price of property, but found attractive options and helpful real estate services. I think six months would be plenty of time to find a place to live happily, do a deal and move.

I ate very well, not only pupusas and eggs and frijoles, but delicious meat and fresh fruit and American fast food. I had a cooked breakfast every day in a small and comfortable hotel for around $1200/month. Every morning I heard beautiful birdsong, and would see spectacular birds and lizards. While sitting outside, I often left my private keys in my hotel room along with a laptop, a desktop and two phones; nothing was ever touched.

I received excellent dental treatment privately, superior to what I had been used to in Europe.

I think the policies now in place should serve to create a growing middle class, and hope that process is allowed to flourish. I'm glad to see the issue of gangs being dealt with, particularly in the way in which it's being done.

It's a little complicated to extend a tourism visa beyond three months, so leave a few weeks to prepare the extension if you're planning on doing that.

I highly recommend the country, and was very sad to leave. The difficulties with the bitcoin bond issuance were and are quite understandable, so the accompanying permanent residency not being available is equally understandable. My other option was to apply for a temporary residency based on a monthly income requirement - however, I withdraw fiat in amounts over 10k every several months, and was advised by multiple lawyers this option requires regular monthly payments. If you're considering that, it's worthwhile to make sure your payments are regular, monthly and from the same source. There is an option for business investment but that didn't correspond to my personal situation.

Overall, very grateful and looking forward to returning again soon.

That depends. "Risk" is a somewhat ambiguous word. Risk can be relative when you talk about cryptocurrency, but if somebody puts a bullet in your head (not such a strange occurrence in some countries), you're absolutely dead.
I disagree about emigrating being such a big step, and I lived in 4 different countries, so while I'm not an expert, I guess I know a thing or 2 about it.
Of course there are inconveniences associated with it. You need to adapt to a new culture, and, in your case, a new language, and Spanish isn't the easiest language to learn. But other than that, it's just a trip.


I honestly think this whole issue is being hyped up, and taken out of context. El Salvador accepted BTC as legal tender because its economy was in ruins, and there are real benefits when getting your own currency on the back of another, stronger one. It does have a price, though.

The issue with insecurity there is a very real one. One of the very first things I learned (and loved very much) about living in the US, was having the chance to trust other people, and have a generally laid back attitude. That doesn't happen in Latin America. Life is nowhere near as simple.

If you're dead set about emigrating, I'd recommend you look to go somewhere else. if you're dead set about going to El Salvador, I'd say go there for a couple of months, and check the place out. First, it's gonna  be much easier for you to inquire about the legal requirements to move there once you're in country, and second, you'll be able to really get a sense of the place, see what you like, and ultimately make an informed decision.

Just to provide some background, I emigrated from Argentina to the US in 2000. Loved everything of it. Spent almost 13 years in the US, until I was deported in 2013. Then, in 2015 I went to Spain, having researched extensively online, and thinking everything would be like I had read on the Internet. Big mistake. Spain is a beautiful country, but it's not at all what I was expecting. So I came back to Buenos Aires and immediately, and relying solely on recommendations, I moved to Lima, Peru. Hated every minute of it. Lima is (no intention to offend anybody), about the shittiest city I've ever seen.
Now I'm back in Buenos Aires, daydreaming with getting out, this time for good. But I learned my lesson, I'm not flying blind anymore. 

I understand. Risk is relative and not absolute, but I wouldn't like to miscalculate it too much.

I am seriously considering the idea, but I'm also struck by a lack of interest from other bitcoin users and how that contrasts with their otherwise overwhelmingly positive reaction to the news. It seems to me related to the expected long-run performance of the bond(s). I made a specific thread for moving/settling issues in case it turns into a useful resource, if not by me perhaps by someone else.

So far my only feedback is shipping companies are unable or hesitant to provide service and have warned about risks of loss of/damage to items in transit and customs issues. Visas are available without reference to bitcoin by showing income of ~$24k p.a.

Big risk my friend, I am very complimentary about the president & his pioneering ways. I think it’s brilliant what he’s doing & he could really lift the country out of poverty but this will take time.

I think there are some very dangerous gangs there so I would seriously think about if you think it’s safe to move there.

I finally watched the full speech and presentation given by the President and Samson Mow and the issue of residency is indeed mentioned towards the end.

Samson says that investment in the EBB1 issue will qualify towards permanent residency, and the President responds saying "or anything else."
https://youtu.be/tqoJkVvKmy0?t=1659

Thank you. Bitcoin as legal tender is only one factor but not insignificant, especially in terms of property acquisition. Private healthcare in San Salvador is roughly on par with where I currently reside, private education options are also similar. The security situation would be an improvement over my home country, as would corruption levels and property rights.

In June, alongside the announcement of bitcoin as legal tender, President Bukele announced that a residency program would be introduced based on an investment of three bitcoins. That figure was given during a Twitter Spaces chat.
https://twitter.com/nayibbukele/status/1401622548396314631
https://[Suspicious link removed]day/el-salvador-now-offers-permanent-residency-for-3-btc

In July, a poster on another forum indicated that in response to his enquiries, an ambassador had promised to contact him when details were available. The thread hasn't been updated since.

As there has been some activity this week in the El Salvador bitcoin story, I wondered if there have been any updates on the idea's implementation.

I understand the different options listed on the government website, but I'm reasonably sure it hasn't been added yet:
http://www.migracion.gob.sv/servicios/residencias-definitivas/

I am not an expert, but I believe moving to a different country is a serious step and it should not be done exclusively because their Bitcoin laws (which are still an early experiment).

Anyways, perhaps if you offer more details about the kind of residency you want to get, I might take some time and translate whatever I find from Spanish to English for you.

Firstly, thanks for all the things I've learned lurking here.
And to my question: has anyone successfully gone through the process of obtaining permanent residency in El Salvador for bitcoin? There doesn't seem to be anything about it on migracion.gob.sv.