October 4th 2024.
Próspera, a start-up city driven by profit, presents a unique opportunity for its residents to live free from traditional government constraints. The ambitious project, backed by US tech entrepreneurs and managed by Honduras Próspera Inc, has raised an impressive £90 million in investments to turn their vision of a city-state into reality.
Located on the picturesque island of Roatan, 40 miles north of Honduras, this experimental city is aptly named Próspera. Currently home to 2,125 residents, it has the potential to accommodate up to 10,000 people. However, those who wish to call Próspera their home must pay an annual fee of £972 and demonstrate their respect for the city's reputation and social harmony.
Established in 2017, Próspera prides itself on being a private start-up city that operates under its own government. This unique approach aims to attract foreign investors through low taxes and minimal regulation, making it the fastest-growing start-up city project in the world.
The concept of Próspera was born four years after the Honduran government introduced the idea of a Zone for Employment and Economic Development (ZEDE). The original goal of ZEDE was to create job opportunities and attract foreign investments to a country where poverty affects 64% of the population.
One of the defining features of Próspera is its autonomy. The city has its own laws, legal system, and police force, making it independent from the Honduran government. Through the implementation of low taxes, a privatised government, and self-regulation, Próspera hopes to drive economic growth and development that would be otherwise impossible under traditional governmental frameworks.
In terms of security, Próspera relies on armed guards employed by private firms and an arbitration centre staffed by three retired judges from Arizona to handle disputes and resolutions. Education, healthcare, public services, and everything in between are all privately owned. For example, a California-based company offers a Montessori education to around 60 students.
The inspiration for Próspera comes from German economist Titus Gebel, who served as the Chief Legal Officer for the project from 2017 to 2019. According to Gebel, "For a fixed fee, the operator offers citizens of the free private city protection of life, liberty, and property." His vision draws inspiration from successful cities such as Singapore and Hong Kong, which transformed into global hubs through the establishment of special economic zones.
In conclusion, Próspera presents a unique opportunity for its residents to live in a start-up city that operates under its own government and offers a range of benefits, including low taxes, minimal regulation, and the promise of economic growth. With its growing population and increasing interest from foreign investors, Próspera is quickly making a name for itself as a groundbreaking social and economic experiment.
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