Yep, an entire luxury island for crypto enthusiasts and you can can get citizenship Free! Unfortunately “my kind” is ineligible – can you guess why?
When I saw Satoshi Island, it looked amazing. Everything about it was perfect, eco-friendly, sustainably built, like minded community, crypto based economy, and you can get citizenship potentially free.
This is a real island, as per their website 32 million square feet in size located in Vanuatu which is located between Australia and Fiji.
Satoshi island plans to be a sustainably built, solar powered, complete crypto economy and a place where crypto enthusiasts, and businesses can thrive. If you qualify you can acquire citizenship and ultimately plots to the island by way of NFT’s, so instead of complicated real estate paperwork, you own an NFT that can translate to a plot of land. There are 2100 blocks with 10 plots per block, equaling 21000 plots in total. You can buy one plot or several. The stated goal on their website “Satoshi Island is poised to become the crypto capital of the world, intended to bring together thousands of crypto professionals and enthusiasts worldwide” Life on the island will be an experience like no other, giving the crypto community a way to live and work amongst like-minded people in a place designed around the industry we love”
Apparently Vanuatu was chosen due to being crypto and tax friendly. Again from their website “Vanuatu has no tax on profits, dividends or income for corporations or individuals. There is no capital gains tax, no withholding tax and no death tax” With increasing tax grabs on crypto this sounds like a great idea. Bear in mind however if you are from the USA the IRS follows you everywhere. The USA is the only major country that taxes its citizens regardless of where they live in the world. Now renouncing citizenship is a possibility, but if your net worth is in excess of over 2 million based on assets including your home, you are likely subject to an exit tax. Subject for another day. The Satoshi Island website states you can apply to get a free citizenship NFT, however they do not grant the holder citizenship of Vanuatu. But, if you hold the Satoshi NFT citizenship you can be fast tracked through the Vanuatu Investment and migration bureau. I checked out the Vanuatu website and looks like citizenship costs run around $130k for a single applicant to $180k for a family with 2 kids. That is actually not bad in the global stage in relation to other countries residency by investment programs but a Vanuatu passport not the most desired.
The islands very cool modular structures are designed by award winning James Law of Cybertecture, apparently you can pick up one of these modules for only $60k, and you can chain them together to make larger spaces.
The first batch of modules for short term stays is due in Q3 2022 and it is estimated the manufacturer can pump out 200 of them a month. Q4 2022 the borders of Satoshi Island will open to holders of Citizenship NFT’s for short term stays, and Q1 2023 homeowners will be able to begin residing on the island or renting out their homes.
According to sources over 50k free citizenship NFT applications have been already received, which basically whitelists someone for future upcoming land sales.
Anyone can own land NFT’s, but if you want to set up a private home, like I would, must qualify. How do you qualify? You must have a minimum of 21 followers on Twitter just to apply for Satoshi Island Citizenship. I was so close, off by only 21. So although I am not Satoshi Island material, you might be able to snap up a free citizenship.
As I have been shunned by Satoshi Island, I am considering buying my own Micronation details here:
#satoshiisland #bitcoin #NFT