A. M. With the aim of dynaming the economy and attracting foreign investment, the Legislative Assembly of El Salvador approved reforms to the Special Law on Migration and Foreigners, facilitating the obtaining of definitive residence to foreigners who invest or donate in programs promoted by the Government. With 56 votes in favor, article 152 was modified to establish a more agile and efficient process for the benefit of the country’s economic, social, and cultural development.
Deputy Ana Figueroa said that these reforms modernize the salvadoran regulatory framework, generating opportunities for economic growth through foreign direct investment. The initiative allows investors to legally integrate into the country, if they meet requirements such as clean criminal records and investment records in government projects.
During the study of the proposal, migration authorities explained that this new mechanism will include only the direct family group of the applicant, excluding third parties of trust, to ensure that those who receive the benefit are qualified people and committed to national development.
In the same plenary session, legislators also eliminated articles related to the entrance migration card, a document for which US $ 12.00 was charged to citizens from countries such as the United States and Mexico. The elimination of this rate seeks to facilitate tourism and eliminate barriers to entry to the country, as part of a strategy to project a more open and attractive image for the international visitor.
In addition, the adhesion of El Salvador was ratified to the Fondo Multilateral de Inversiones IV (MRI), allocating US $ 2.7 million as a national contribution. This international tool will continue to finance private sector projects in areas such as sustainable tourism, remittances, technology, and microfinance, promoting inclusive development through public-private and risk capital.
In addition, permits were granted for the appointment of two new honorary consuls in El Salvador, to strengthen diplomatic relations and promote the country brand. These actions reflect a strategic approach to position El Salvador as an attractive destination for international investment and cooperation.
