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LatinNews Daily - 08 December 2023

In brief: El Salvador announces residency for top investors

*El Salvador’s government has announced that it is extending residency to 1,000 large scale investors through a ‘Freedom Visa’ programme which has the backing of Hong Kong-based cryptocurrency firm Tether. According to an official statement, the funds can be invested in US dollars or the cryptocurrency bitcoin which El Salvador adopted as legal tender in September 2021 – an initiative of Nayib Bukele who stepped down as the country’s President on 30 November in order to run in the country’s 4 February 2024 presidential election. The government statement highlights that funds would be earmarked for investment in the areas of culture, security, technology or social wellbeing.

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