Project in Preparation

CryptoCity

This project targeted at high-net-worth businesspeople and entrepreneurs aims to create the perfect global networking community.

Location

Isla de Margarita, Venezuela

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Language

German, Spanish, English

Climate

Arid Tropical

Development Stage

First stages of construction underway

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Overview

Legal Status

Current Situation

How to Move in

Overview

CryptoCity is an intentional community project located on a popular holiday island in Venezuela – Isla de Margarita. The aim is to build a community of around 100 freedom-oriented high-net-worth entrepreneurs who are looking to buy or build a holiday home in a tropical location. The project aims to become a hub of business activity thanks to high-value networking opportunities.

The community has a full master plan that includes residential plots and properties, a beach with a beach club, an office complex, a small supermarket, and a restaurant. Adjacent to the site are an already existing hotel, golf course, and port.

CryptoCity is named for its internal crypto-oriented economy. As Venezuela has experienced devastating hyperinflation of its local currency in the last years, the use of stablecoins and payments via Binance is already firmly established among the public.

Legal Status

CryptoCity is organized as a DAO in which NFTs members receive for their land purchases are used as a basis for voting rights on collective expenditures and projects within the community. Vote weights are based on the size of the plot purchased.

When purchasing a plot of land, prospective members are required to pay an initial joining fee of $5000. This pool of funds will then be staked, and the proceeds of this investment will finance services which the community members will receive for free. This includes maintenance of public spaces, food and drink in the restaurant, security, gardening, and similar services.

Isla de Margarita itself has a SEZ status within Venezuela. It has zero corporate tax on foreign-sourced income and no personal income on foreign digital workers resigning on the island.

 

Current Situation

As of early 2024, the land to become CryptoCity is being cleared in preparation for construction. In late 2024, the infrastructure is set to be finished, with individual members being able to start construction of their homes. The whole community is to be built up and finished by 2027.

Four people from the core team are living full-time near the project site and 25 are already set to arrive upon the start of residential construction. Plots in the community are already being purchased, with a full map available on the project website.

How to Move in

Prospective movers and visitors have to obtain a Venezuelan visa. While under other circumstances this can be difficult and time-consuming, CryptoCity assists its members with visa application, making the process significantly simpler.

To become members of the community, applicants must purchase a plot within it and pay the $5000 initial joining fee.

Get Involved

CryptoCity is looking for freedom-minded high-net-worth entrepreneurs with a business background to join their community.