Does investment or knowledge have more value in exchange for a new passport?
Published at: 03/07/2024 07:48 am
President Nayib Bukele's administration has unveiled a unique opportunity for 5,000 ‘highly qualified foreigners’ to secure Salvadoran citizenship and establish themselves in the country. This exclusive offer is a testament to the government's commitment to attracting top talent.
Remember, wealth is the simplest option for becoming a citizen of another country. However, knowledge and skill are the keys to entering the most developed countries without being rich.
All countries need a skilled workforce: scientists, artists, athletes, and several other human qualities. There are great programs and options for settling in almost any developed (rich country with high salaries) country with a good degree. The US, Japan, the United Arab Emirates, the entire EU and Great Britain, among others, are eager to receive the best talents.
While there may be a larger number of skilled immigrants, the investment path offers a quicker and more secure route to a second passport. This is a key advantage for those seeking to expedite their citizenship process.
Because skilled immigrants rarely receive citizenship immediately after arriving in their new home country. Usually, professionals as immigrants must sweat at least three, but usually eight years before they can start the naturalisation process.
Meanwhile, investors become citizens in several countries in a couple of weeks or months. Skilled immigrants usually become temporary residents first and then permanent residents, and they can work under a work permit or working visa. Meanwhile, investors receive the same rights as citizens without waiting or a qualifying period after receiving the certificate of citizenship.
The generous offer from EL Salvador has calculable value, as the country has a citizenship by-investment program as well:
‘We offer 5,000 free passports (equivalent to $5 billion in our passport programme)". Bukele added that the passports will be given especially to highly qualified scientists, engineers, doctors, artists and philosophers from abroad.
It's a good offer from Latin America.
Do you want to compare your options to become a resident or citizen of another country through investment or company registration? Ask our experts for a consultation!