A Private Tech City Opens for Business in Honduras

Bloomberg · by Joshua Brustein · March 27, 2021

Prospera, a mini startup nation with its own set of laws, begins recruiting residents amid local controversy.

March 27, 2021, 8:00 AM EDT

Renderings of plans for the city.

Source: Próspera

If you’re going to work remotely, Próspera is a nice place to do it. Located on Roatán, a tropical island off the coast of Honduras, it features a series of airy offices and communal outdoor spaces with ocean views. There are other real estate developments on the island, but Próspera is the only one with its own set of laws and governing system.

Próspera is the first project to gain approval from Honduras to start a privately governed charter city, under a national program started in 2013. It has its own constitution of sorts and a 3,500-page legal code with frameworks for political representation and the resolution of legal disputes, as well as minimum wage (higher than Honduras’s) and income taxes (lower in most cases). After nearly half a decade of development, the settlement will announce next week that it will begin considering applications from potential residents this summer.

Bloomberg · by Joshua Brustein · March 27, 2021