Permanent residence in El Salvador for crypto entrepreneurs

[Pamadar]

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.

[Sithara007]

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.

[TastyChillySauce00]

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.

[bryant.coleman]

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.

[Lucius]

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.

[magneto]

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.

[paxmao]

..

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.

[Twinkledoe]

..
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.

[Lucius]

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.

[Vishnu.Reang]

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.

[paxmao]

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.

The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities. It is behind a paywall so I cannot link it. You can access a pubic domain source here.
which states:

Summary of cost of living in El Salvador
...
Cost of living in El Salvador is cheaper than in 65% of countries in the World (51 out of 79)

 The references to the political status of the country are based on the abundant news and information available. If you need a source you can use this one. which states among other facts:

El Salvador has one of the highest rates of crime and murder in the world. The country has been labeled, “the most violent in Latin America.” From 2014 to 2017, about 20,000 people were murdered as a result of gang violence. The gangs are active in 94 percent of the country and run as a continuous threat to children, families and business owners.

and  this:

About 1.8 million minors between the age of 5 and 17 are forced to work. Often times these children are placed in unsanitary or dangerous work environments just to earn a few dollars for themselves and their families.

Do not assume that my posts are undocumented or that I am speaking without knowing just because I am being kind of funny about it. The reason why nobody from El Salvador is answering is because they are busy trying to survive. That is not factual, just my educated guess.

My other educated guess is that you may achieve far better results asking in the Spanish section of the forum.  Something like this could help "Alguien puede hablarme de las condiciones de vida en El Salvador? Es un buen lugar para ir a vivir y para crear una empresa tecnológica?"

[bryant.coleman]

Heard that a few other countries are also exploring the step taken by El Salvador. All we need is a bit more patience. The next spike is going to take Bitcoin above the $100,000 level, and more and more countries will be open to making at a legal tender. So if you are a Bitcoin entrepreneur or an investor, then you will have a lot more choices by then. There is no need to immediately pack your bags and move to El Salvador, which is famous for gang culture and poverty. Personally I would prefer moving to some of the Caribbean island nations.

[Bellarg]

Im sure that Salvador is not a country there i want to be a resident

[Vishnu.Reang]

Im sure that Salvador is not a country there i want to be a resident

I have the same opinion. They have made Bitcoin the legal tender and during the last 2-3 years, there have been a sharp reduction in crime rate. But these things are not enough to compel me to move to that country. First and foremost priority for me is my security. It is something that doesn't have a price tag. And historically, El Salvador doesn't have a good reputation on that sector. Let a few thousand entrepreneurs move to El Salvador. If everything works out for them, then I will consider my options after a couple of years.

[stompix]

The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities. It is behind a paywall so I cannot link it. You can access a pubic domain source here.
which states:

Summary of cost of living in El Salvador
...
Cost of living in El Salvador is cheaper than in 65% of countries in the World (51 out of 79)

From your own link:

Cost of living in San Salvador is 34% more expensive than in Bogotá
Cost of living in San Salvador is 50% more expensive than in Buenos Aires

And that is the average, including the poor cities! If we go for the capital:
https://www.expatistan.com/cost-of-living/comparison/prague/san-salvador

Cost of living in San Salvador (El Salvador) is about the same as in Warsaw (Poland)
Cost of living in San Salvador (El Salvador) is 6% cheaper than in Prague (Czech Republic)
Cost of living in San Salvador (El Salvador) is 5% more expensive than in Budapest (Hungary)

And are we really going to compare Prague to San Salvador?
This is exactly what Lucius was saying, compared to what, it is cheaper than New York or London or Tokyo but not so much cheaper than a lot of EU cities.
And there is no comparison in the quality of life between these!

[verita1]

I found a website that could give you an idea of ​​the cost of living in El Salvador. It would also be good if you asked yourself what you want to do in El Salvador because the country has the most recent unemployment rate of 7%. You would have to go to El Salvador with the idea of ​​investing in your own business.
You should also know the percentage of insecurity according to official figures in the country that shows an average of three murders a day.
It should be noted that crimes registered so far this year such as homicides, extortion and robbery continue to trend downward.

https://www.expatistan.com/cost-of-living/country/el-salvador

https://www.google.com/amp/s/www.laprensagrafica.com/amp/elsalvador/361-homicidios-en-lo-que-va-de-2021-en-El-Salvador-20210420-0115.html

[jrrsparkles]

3 BTC it's actually affordable though but anyone is going to move there? Only people from the countries where cryptos are completely banned can consider about moving.

[paxmao]

The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities. It is behind a paywall so I cannot link it. You can access a pubic domain source here.
which states:

Summary of cost of living in El Salvador
...
Cost of living in El Salvador is cheaper than in 65% of countries in the World (51 out of 79)

From your own link:

Cost of living in San Salvador is 34% more expensive than in Bogotá
Cost of living in San Salvador is 50% more expensive than in Buenos Aires

And that is the average, including the poor cities! If we go for the capital:
https://www.expatistan.com/cost-of-living/comparison/prague/san-salvador

Cost of living in San Salvador (El Salvador) is about the same as in Warsaw (Poland)
Cost of living in San Salvador (El Salvador) is 6% cheaper than in Prague (Czech Republic)
Cost of living in San Salvador (El Salvador) is 5% more expensive than in Budapest (Hungary)

And are we really going to compare Prague to San Salvador?
This is exactly what Lucius was saying, compared to what, it is cheaper than New York or London or Tokyo but not so much cheaper than a lot of EU cities.
And there is no comparison in the quality of life between these!

...

The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities.
...

As said, compared with the average. Furthermore, most expats are from rich countries hence saying cheap is correct in general sense. Anyway, data is there for whoever needs to figure out the cents. Quality of life can be measured in different ways and weighted differently. Bogotá and El Salvador are terrible for violence, but I guess that if you are happy living in a rich bubble community and ignoring the rest you will find one and do fine.

[TheGreatPython]

"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.

Well, that’s quite good, because you will hardly see a news like this about Bitcoin, where the president and others are so keen to accepting Bitcoin. Most of the news you’re going to see are those of them that are banning bitcoin and news like that. You will hardly see any of them are embracing Bitcoin like this.

But that aside, I don’t think that El Salvador is a place I would like to live, despite that. Because based on what I have known, the place has a very high crime rate and countries with high crime rates are the least places I would like to be.

[Sithara007]

3 BTC it's actually affordable though but anyone is going to move there? Only people from the countries where cryptos are completely banned can consider about moving.

A lot of the countries have citizenship by investment plans, but the paperwork will take a long time and there is very tight screening. If these issues are not there with the El Salvador program, then I guess a lot of people will apply for the citizenship. Cryptocurrency users in general are facing increasing regulations and harassment, and this is especially true in developing countries such as Nigeria, India and China. If the requirements are reasonable, then I guess a large number of users may be interested in the program, especially from these countries.