What is the official currency of El Salvador?

The official currency of El Salvador is the US dollar (USD). However, in 2021, El Salvador became the first country to adopt Bitcoin as legal tender alongside USD.

Can I access my traditional bank accounts while living in El Salvador?

You can typically access your foreign bank accounts online or through international debit/credit cards. We can also help you set up personal and corporate bank accounts in El Salvador.

Do I need to be in El Salvador to set up a bank account?

No, you don’t need to be in El Salvador physically to set up a bank account. Our legal team can set up a Salvadorian bank account on your behalf without you being present. You will need to grant our lawyers power of attorney (POA).

What are the tax implications of investing in El Salvador with Bitcoin?

El Salvador currently exempts capital gains taxes on Bitcoin transactions. However, tax laws are subject to change. We have an international tax advisors that can keep you up to date with the current regulations.

Can I purchase a property with Bitcoin in El Salvador?

Some sellers will accept Bitcoin as payment. However many of them will ask to receive payment in USD dollars. If you require assistance converting Bitcoin to dollars in El Salvador don’t worry, we can provide exchange services from digital assets to USD dollars.

How can I safely buy and sell Bitcoin in El Salvador?

We can connect you with reputable digital currency exchanges that operate in El Salvador. These platforms will require know Your Customer (KYC) procedures in place to ensure secure transactions.

Can I use Bitcoin as collateral to purchase Real Estate in El Salvador?

Absolutely, we can match you with a fully regulated lender that will lend fiat/USD using your Bitcoin to secure the loan.

What should I consider before applying for a Bitcoin loan?

Before applying for a Bitcoin loan, you should consider the following factors:

• The value of digital assets can be volatile, which can increase the risk of the loan.

• Bitcoin lenders may be less regulated than traditional lenders.

• Understand the terms of the loan, including the interest rate, term, and repayment conditions.