El Salvador became a sensation among Bitcoin/crypto users when it announced Bitcoin as legal tender now it offers crypto entrepreneurs no capital gain tax and permanent residence to attract new crypto-related investment and business.
Guess who took the offer first? None other than our friend Justin Sun said "his organization would be the first crypto group to establish an office in El Salvador."
Sergio Goschenko reports in bitcoin.com that "Nayib Bukele, president of El Salvador, has weighed in the future of his country now that there is a formal proposal for making Bitcoin a legal tender, announcing complementary measures. Bukele mentioned yesterday on Twitter there would be no capital gains on Bitcoin earnings, and also highlighted the possibility of offering permanent residence to crypto entrepreneurs wanting to move to the LATAM country.
Bukele stated that because Bitcoin will be legal tender, there will be no capital tax gains for Bitcoin earnings, something that would entice cryptocurrency entrepreneurs and traders to bring their business to the country.
But Bukele went even further, hinting that El Salvador could offer immediate residence to crypto entrepreneurs interested in coming to and investing in the country. This would make it easier for anyone wanting to build or introduce a startup in the country to set up offices faster, and with less paperwork."
Source credit and full story - https://news.bitcoin.com/el-salvador-offers-no-capital-gains-tax-permanent-residence-crypto-entrepreneurs/
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