 | This article contains wording that
promotes the subject in a subjective manner without imparting real information. (January 2023) |
Próspera | |
|---|---|
  Próspera | |
| Coordinates: 16°22′N 86°28′W / 16.367°N 86.467°W | |
| Country | 
Honduras |
| Department | Bay Islands |
Próspera is a private city and special economic zone on the island of Roatán in the Central American state of Honduras. The city is an autonomous zone with its own fiscal, regulatory, and legal architecture. [1]
Overview
Próspera is a semi-autonomous city established under Honduran Zone for Employment and Economic Development (ZEDE) laws, inspired by the concept of charter cities and cities such as Hong Kong, Singapore, and Dubai. Through low taxes, privatized government, social services, and self-regulation, the city hopes to drive economic development and innovation that the city argues would not occur under normal government frameworks. [2]
Under the Honduran ZEDE law, Próspera has its own civil law and regulatory structure, independent of that of Honduras. However, ZEDEs remain bound by the Honduran constitution and its criminal law code.
The project is managed by Honduras Próspera Inc. The company is financed by several investors and venture capital firms, including Balaji Srinivasan, Peter Thiel, and Marc Andreessen, through the venture capital company Pronomos Capital. [3]
Social services such as health and education are planned to be privatized and financed from taxes, fees, and the sale of land to new residents and investors. Individuals can apply for "e-residency", which allows them to register businesses in Próspera and benefit from the local tax and regulatory structure. [4]
Residents must sign the city's social contract and pay an annual fee to live in Próspera, which is $260 for Hondurans and $1,300 for foreigners. [5]
Bitcoin is legal tender in Próspera. [6]
History
ZEDEs were the brainchild of American economist and Nobel laureate Paul Romer, who was initially involved in the project. [5]
The foundation for the Honduran ZEDE project (Zone for Employment and Economic Development) was laid in 2011 under President Porfirio Lobo Sosa. It was declared invalid by the Honduran Supreme Court in 2012 because it would violate Honduras' national sovereignty. A modified plan was approved by the Supreme Court in 2013, under different judges.
ZEDEs were designed to be unrepealable for 50 years, to give foreign investors the necessary confidence to invest capital. By early 2021, the project was starting and the city's first buildings were constructed. German architect Patrik Schumacher was involved in the design of the apartments. [5] Shortly afterward, Honduran President Xiomara Castro made repeal of the enabling legislation for the ZEDEs a key campaign issue, and in April 2022 she signed legislation to accomplish the repeal. [7] As of January 2024, she has been legally unsuccessful, and ZEDEs continue.[ citation needed]
Government
The city is governed by a council of 9 members, 5 of whom are elected and 4 of whom are appointed by Honduras Próspera Inc. Decisions are to be made by a two-thirds majority, giving Honduras Próspera Inc. a veto. Above this lies a Committee of best practices, an un-elected body whose members are appointed by the government of Honduras, with the power to approve all internal regulations and provides policy guidance [8] Although the city will be subject to the criminal justice system of Honduras, it has its own civil law. [9]
Criticism
As of May 2021, Próspera was 58 acres, and its charter disallows land expropriation. Nevertheless, some neighbors such as the village of Crawfish Rock have a fear that their land may be expropriated. [10] Próspera's CEO has publicly supported legal reform to make the practice illegal nationwide. [11]
TUM International, an independent affiliate of Technical University of Munich withdrew from assisting the project in 2021, citing unspecified concerns about human rights in a press release. [12]
Bibliography
- Andreas Kemper: Privatstädte: Labore für einen neuen Manchesterkapitalismus. Unrast Verlag, Münster 2022
- Titus Gebel: Free Private Cities: Making Governments Compete For You. Aquila Urbis, Walldorf 2018, ISBN 978-1724391384.
References
- ^ "A Private Tech City Opens for Business in Honduras". Bloomberg.com. 2021-03-27. Retrieved 2021-04-18.
- ^ Ernst, Jeff (5 July 2022). "'Go home': Honduran islanders fight against crypto colonialists". The Guardian.
- ^ "A crypto-libertarian paradise just lost an existential battle with Honduras". 11 May 2022.
- ^ "A Private Government in Honduras Moves Forward". NACLA. Retrieved 2021-04-18.
- ^ a b c Alexander, Scott. "Prospectus On Próspera". Retrieved 2021-04-18.
- ^ Palencia, Gustavo. "Honduran special economic zone adopts bitcoin as legal tender". Reuters. Retrieved 2024-04-04.
- ^ Gonzalez, Marlon (2022-04-30). "Honduran economic zones in 'limbo' after government repeal". Los Angeles Times. Retrieved 2022-05-02.
- ^ art 11 zede laws https://pzgps.hn/wp-content/uploads/2019/05/ZEDE-Organic-Law.pdf
- ^ "Code of law" (PDF).
- ^ Ernst, Jeff (5 July 2022). "'Go home': Honduran islanders fight against crypto colonialists". The Guardian.
- ^ "A Private Libertarian City in Honduras". Reason.com. 6 July 2023.
- ^ "A Munich University Partner withdraws from the Próspera ZEDE". April 2021. Archived from the original on 2021-04-20. Retrieved 2024-03-18.
| This article contains wording that
promotes the subject in a subjective manner without imparting real information. (January 2023) |
Próspera | |
|---|---|
Próspera | |
| Coordinates: 16°22′N 86°28′W / 16.367°N 86.467°W | |
| Country |
Honduras |
| Department | Bay Islands |
Próspera is a private city and special economic zone on the island of Roatán in the Central American state of Honduras. The city is an autonomous zone with its own fiscal, regulatory, and legal architecture. [1]
Overview
Próspera is a semi-autonomous city established under Honduran Zone for Employment and Economic Development (ZEDE) laws, inspired by the concept of charter cities and cities such as Hong Kong, Singapore, and Dubai. Through low taxes, privatized government, social services, and self-regulation, the city hopes to drive economic development and innovation that the city argues would not occur under normal government frameworks. [2]
Under the Honduran ZEDE law, Próspera has its own civil law and regulatory structure, independent of that of Honduras. However, ZEDEs remain bound by the Honduran constitution and its criminal law code.
The project is managed by Honduras Próspera Inc. The company is financed by several investors and venture capital firms, including Balaji Srinivasan, Peter Thiel, and Marc Andreessen, through the venture capital company Pronomos Capital. [3]
Social services such as health and education are planned to be privatized and financed from taxes, fees, and the sale of land to new residents and investors. Individuals can apply for "e-residency", which allows them to register businesses in Próspera and benefit from the local tax and regulatory structure. [4]
Residents must sign the city's social contract and pay an annual fee to live in Próspera, which is $260 for Hondurans and $1,300 for foreigners. [5]
Bitcoin is legal tender in Próspera. [6]
History
ZEDEs were the brainchild of American economist and Nobel laureate Paul Romer, who was initially involved in the project. [5]
The foundation for the Honduran ZEDE project (Zone for Employment and Economic Development) was laid in 2011 under President Porfirio Lobo Sosa. It was declared invalid by the Honduran Supreme Court in 2012 because it would violate Honduras' national sovereignty. A modified plan was approved by the Supreme Court in 2013, under different judges.
ZEDEs were designed to be unrepealable for 50 years, to give foreign investors the necessary confidence to invest capital. By early 2021, the project was starting and the city's first buildings were constructed. German architect Patrik Schumacher was involved in the design of the apartments. [5] Shortly afterward, Honduran President Xiomara Castro made repeal of the enabling legislation for the ZEDEs a key campaign issue, and in April 2022 she signed legislation to accomplish the repeal. [7] As of January 2024, she has been legally unsuccessful, and ZEDEs continue.[ citation needed]
Government
The city is governed by a council of 9 members, 5 of whom are elected and 4 of whom are appointed by Honduras Próspera Inc. Decisions are to be made by a two-thirds majority, giving Honduras Próspera Inc. a veto. Above this lies a Committee of best practices, an un-elected body whose members are appointed by the government of Honduras, with the power to approve all internal regulations and provides policy guidance [8] Although the city will be subject to the criminal justice system of Honduras, it has its own civil law. [9]
Criticism
As of May 2021, Próspera was 58 acres, and its charter disallows land expropriation. Nevertheless, some neighbors such as the village of Crawfish Rock have a fear that their land may be expropriated. [10] Próspera's CEO has publicly supported legal reform to make the practice illegal nationwide. [11]
TUM International, an independent affiliate of Technical University of Munich withdrew from assisting the project in 2021, citing unspecified concerns about human rights in a press release. [12]
Bibliography
- Andreas Kemper: Privatstädte: Labore für einen neuen Manchesterkapitalismus. Unrast Verlag, Münster 2022
- Titus Gebel: Free Private Cities: Making Governments Compete For You. Aquila Urbis, Walldorf 2018, ISBN 978-1724391384.
References
- ^ "A Private Tech City Opens for Business in Honduras". Bloomberg.com. 2021-03-27. Retrieved 2021-04-18.
- ^ Ernst, Jeff (5 July 2022). "'Go home': Honduran islanders fight against crypto colonialists". The Guardian.
- ^ "A crypto-libertarian paradise just lost an existential battle with Honduras". 11 May 2022.
- ^ "A Private Government in Honduras Moves Forward". NACLA. Retrieved 2021-04-18.
- ^ a b c Alexander, Scott. "Prospectus On Próspera". Retrieved 2021-04-18.
- ^ Palencia, Gustavo. "Honduran special economic zone adopts bitcoin as legal tender". Reuters. Retrieved 2024-04-04.
- ^ Gonzalez, Marlon (2022-04-30). "Honduran economic zones in 'limbo' after government repeal". Los Angeles Times. Retrieved 2022-05-02.
- ^ art 11 zede laws https://pzgps.hn/wp-content/uploads/2019/05/ZEDE-Organic-Law.pdf
- ^ "Code of law" (PDF).
- ^ Ernst, Jeff (5 July 2022). "'Go home': Honduran islanders fight against crypto colonialists". The Guardian.
- ^ "A Private Libertarian City in Honduras". Reason.com. 6 July 2023.
- ^ "A Munich University Partner withdraws from the Próspera ZEDE". April 2021. Archived from the original on 2021-04-20. Retrieved 2024-03-18.