El Salvador to Offer Citizenship to Foreign Investors in Legal Reforms

Foreign Investors

El Salvador plans to offer citizenship to foreign investors as part of legal reforms by President Nayib Bukele aimed at strengthening the economy.

Bukele announced in a tweet, which received 42,000 likes, that he would forward 52 legal reforms to congress despite criticism that his policies could destabilize the country.

The President made a similar promise last year to investors in a proposed bitcoin fund after recognizing BTC as a legal tender.

El Salvador will join countries like Malta and Turkey offering similar privileges to international capitalists if the plan sails through. The policy provides a minimum investment to warrant the offering.

The Central American nation now holds 1,801 bitcoins estimated at $69 million after adding an amount worth about $15 last month. 

The US Senate Committee on Foreign Relations brought forward a bill recently requesting the State Department to investigate El Salvador’s adoption of BTC as a legal tender.

Source: Forbes

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