Complete Gate Post tasks to upgrade your rank

Credit Ranking

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1690791857hotspot.jpeg)
## [TL; DR]
El Salvador has launched its Freedom Visa Program where wealthy investors will invest $1 million each.

The country uses the funds generated from the Freedom Visa Program to develop key national infrastructure like transport and communication networks. 

1,000 high-net-worth individuals will participate in the Freedom Visa Program.

## Introduction
Although some countries tend to renege on adopting cryptocurrencies and other digital currencies others are progressing well. Singapore, El Salvador, Slovenia, Portugal, Switzerland, Germany and Malta are examples of countries that have high crypto adoption rates. 

This article discusses how El Salvador has progressed in its adoption of cryptocurrencies, particularly <a href="/es/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>. 

## El Salvador Introduces Crypto Investor VISA Program
Although El Salvador President, Nayib Bukele stepped down to pave the [way for new national elections, in 2021 he guided the country to adopt bitcoin as a legal tender](https://www.gate.io/learn/articles/bitcoin-usage-in-ei-salvador/1008 "way for new national elections, in 2021 he guided the country to adopt bitcoin as a legal tender"). 

Recently, El Salvador partnered with <a href="/es/price/tether-usdt" target="_blank" class="blog_inner_link">Tether</a>, the USDT stablecoin issuer, to introduce El Salvador Freedom Visa Program, tailored to attract high-net-worth individuals and other investors to make a great impact on the society. 

By instituting the Freedom Visa Program, El Salvador has cemented its role as a leading crypto friendly country. In fact, El Salvador was the first country to adopt bitcoin as a legal tender. 

The Freedom VISA Program is instrumental in enabling  individuals to participate in the economic development of the country. Thus, several households and individuals have the chance to support the economic development of the country and shape its future. 

Read more: [With El Salvador's Election Looming, How is the Bitcoin Social Experiment Going?](https://www.gate.io/blog_detail/3401/with-el-salvador-s-election-looming-how-is-the-bitcoin-social-experiment-going "With El Salvador's Election Looming, How is the Bitcoin Social Experiment Going?")

Nonetheless, only 1000 individuals are able to invest through the Freedom Visa program, which gives them a chance to seek residency and citizenship.

Posting on its blog [Tether said](https://tether.to/en/tether-powers-el-salvadors-visionary-freedom-visa-program-through-technology-support/ "Tether said"), “This visa program is designed to foster an environment where individuals contribute to shaping a new socio-economic landscape for El Salvador, a growing hub of international tourism, and attract individuals deeply committed to catalyzing economic expansion and driving transformative societal change.” 

Other countries call similar arrangements Golden Visa programs. To participate in the El Salvador Freedom VISA Program an individual should invest $1 million which gives one the right to get a passport and citizenship. The investor can use bitcoin or Tether USDT to fund the program.

El Salvador aims to generate around $1 billion annually if investors fill all the spots every year. As you may anticipate, the country has partnered with Tether to out-roll the programme. Nevertheless, this program is far more costly than those of other countries like Dominica and St. Lucia as well as Antigua and Barbuda. Most of these programs require around $100,000. 

Read also: [The Economic Impact of Adopting Bitcoin](https://www.gate.io/fr/live/video/1793e802bd7e763f00be5939fd2ee88f "The Economic Impact of Adopting Bitcoin")

Paolo Ardoino, CEO of Tether highlighted the nature of the partnership and programme. [He said](https://tether.to/en/tether-powers-el-salvadors-visionary-freedom-visa-program-through-technology-support/ "He said"), “Our partnership with El Salvador marks a significant milestone for Tether as a technology provider. This initiative is a testament to our commitment to fostering [financial freedom](https://beincrypto.com/learn/financial-freedom-definition/ "financial freedom") and innovation in communities and cities.”

He added, “It’s a unique opportunity to leverage our technological prowess to spur growth and innovation in the region. Our role in this partnership underscores the criticality of robust infrastructure in instigating meaningful change.”

On the other hand, Adriana Mira, El Salvador’s Vice Minister of Foreign Affairs stated the focus of the programme. [Mira said](https://tether.to/en/tether-powers-el-salvadors-visionary-freedom-visa-program-through-technology-support/ "Mira said"), "This collaboration signifies a pivotal milestone in our dedication to economic development and innovation. The 'Adopting El Salvador Freedom Visa Program” offers an extraordinary opportunity for individuals to actively participate in shaping a prosperous future for our nation."

Read also: [How are cryptocurrencies currently regulated in countries around the world?](https://www.gate.io/blog_detail/378/how-are-cryptocurrencies-currently-regulated-in-countries-around-the-world "How are cryptocurrencies currently regulated in countries around the world?")

## Best Countries for Bitcoin 
El Salvador is not the only country that has taken a progressive stance on using bitcoin. There are many other countries that are promoting the use of bitcoin and other cryptocurrencies. 

Singapore, Slovenia, Portugal, Switzerland, Germany, Malta, [Canada](https://www.gate.io/blog_detail/1265/how-cryptocurrency-is-regulated-in-canada "Canada"), Netherlands and Estonia [are examples of crypto friendly countries](https://www.gate.io/blog_detail/1009/top-crypto-friendly-countries-in-the-world "are examples of crypto friendly countries"). Let’s briefly look at what these countries friendly to crypto have done to increase the use of bitcoin and other cryptocurrencies. 

**Switzerland**
Switzerland is one of the best countries for crypto as it has become a hub for blockchain companies.  For example, the country hosts many large crypto firms like <a href="/es/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> Foundation, <a href="/es/price/tezos-xtz" target="_blank" class="blog_inner_link">Tezos</a> Foundation and <a href="/es/price/cardano-ada" target="_blank" class="blog_inner_link">Cardano</a> Foundation. It has low taxation on cryptocurrency trading as well as clear token classification.

**Malta **
Malta, popularly referred to as a "Blockchain Island, '' is another country with crypto freedom. As a result of its crypto friendly legislation the country hosts many established blockchain projects like BitBay, Binance and OKX. 

Also, the aim of its crypto regulation is to protect crypto businesses and investors. There is no gain tax on cryptocurrency transactions, a reason why most people use bitcoin and other coins in the country. 

**Singapore**
Another country with high crypto adoption is Singapore. First, the country has crypto supportive regulations, a reason why there are many crypto firms in the country. 

Its crypto legislation provides clarity on what blockchain based firms should do and how the investors should behave. For instance, the Monetary Authority of Singapore (MAS) uses the Payment Services Act to supervise cryptocurrency activities in the country. 

**Portugal **
Portugal is one of the countries friendly to crypto. The popularity of cryptocurrencies in the country stems from a supportive legal environment. For instance, the country exempts individuals from paying taxes on crypto profits. It also has clear cryptocurrency regulatory guidelines. 

**Germany**
There is no question that Germany is one of the European countries that supports the blockchain and cryptocurrencies. It regulates cryptocurrencies under the Banking ACT which demands all crypto firms to get licenses from the Federal Financial Supervisory Authority (BaFin). They should also comply with AML and CTF rules. All these create regulatory clarity for the sector. 

## Conclusion 
El Salvador has launched its Freedom Visa Program which enables wealthy investors to contribute towards the development of the country. Each investor should invest $1 million in the program and stand a chance to get a passport and citizenship. If the country gets the expected 1,000 investors it may generate more than $1 billion per year from this program. 



<div class="blog-details-info">
<div>Author:**Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>


English

福利中心

铭文导航-铭文Launchpad

铭文-铭文导航

铭文-web3startup

新币挖矿

小红花-Exchange-Startup

交易-创新交易

交易-盘前交易

打新

小红花-Learn & Explore-博客

小红花-Learn & Explore-快讯

币圈-币圈-未来事件

小红花-Learn & Explore-聊天室

小红花-Learn & Explore-直播

小红花-Learn & Explore-动态

年度账单

币圈

Gate OTC

芝麻金融-更多-财富管理

机构-APIs

机构-大宗交易服务

机构-经纪商项目

全球做市商计划

机构-托管和资产管理

机构-借贷服务

机构-做市商项目

小红花-Promotions-机构和VIP服务

量化基金

机构-基础架构

机构-交易

机构-金融

结构化产品

机构-主页

衍生品-统一账户

芝麻金融-更多-抵押借币

机构

策略跟单

现货跟单

合约跟单

跟单

量化策略-探索

量化策略-进阶

量化策略-基础

机器人广场

创建机器人

探索机器人

杠杆网格

无限网格

期现套利

组合指标策略

智能调仓

现货马丁格尔

合约网格

现货网格

交易机器人

芝麻金融-更多-ETH2.0挖矿

芝麻金融-更多-法币借贷

USDE挖矿

链上赚币

芝麻金融-理财-双币宝

芝麻金融-理财-定期理财(屯币)

芝麻金融-理财-结构性理财

芝麻金融-理财-理财宝

芝麻金融-理财-余币宝

GT挖矿

芝麻金融-更多

芝麻金融-理财

赚币

衍生品-实盘跟单

衍生品-期权

衍生品-交割合约

衍生品-永续合约

衍生品-合约中心

新手引导(合约)

合约活动

衍生品

交易-量化策略

交易-杠杆ETF

交易-杠杆交易

交易-闪兑

交易-现货交易

交易

行情

买币-gateCard

买币-法币交易

买币-银行账号

买币-快捷交易

买币-信用卡

买币-paywith

买币

小红花-推广

新手指南

活动中心

小红花-Learn & Explore-学院

任务广场

小红花-Exchange-最新公告

小红花-Exchange-帮助中心

小红花-Exchange-交易所

gate商店

小红花-Promotions-推荐官计划

小红花-Promotions-邀请计划

小红花-promotions-代理商

cextg小程序

小红花

web3

El Salvador Launches Tether Visa Program: Crypto Pathway to Citizenship