Man visited 'billionaire's city' that makes its own laws and people can do whatever they want
A man visited a for-profit exclave known as 'billionaire's city' where people can 'do whatever they want'.
Located on an island off the coast of the Central American country of Honduras is the city of Puerto Cortés, also known as Próspera. Founded in 2017 by Erick Brimen, Próspera holds the controversial Zone for Employment and Economic Development (ZEDEs) status within the country, allowing residents to be exempt from certain local laws while still being subject to the Honduran government.
There are three such cities in Honduras, and in the case of Próspera, the goal is to implement a completely libertarian society in practice.
Eight years on from the creation of Próspera, and the city is now a magnet for foreign investors and those in experimental science.
Advert
So, how successful has the project been? Earlier this year, the city was visited by the team behind the YouTube channel Yes Theory, who have since shared details of their trip online.
What happens in Próspera?
Dubbed 'Freedom City' by numerous media outlets, Próspera is reported to have an income tax of five per cent, while corporation tax is said to be as low as one per cent.
Entrepreneurial individuals can also set up a business in just a couple of hours; all they need is a connection to the internet on their mobile phone (via The Times).
The lack of regulation also allows the city's residents, in theory, to pursue whichever business start-up or project they desire – from Bitcoin to biohacking.
Why do people choose to move to Próspera?
Other than the fact that the city overlooks pristine ocean views, motives for moving to Próspera are tied up with the libertarian ideal.
In Yes Theory's video, we meet several enterprising individuals, including a man who has a magnet in his finger and an implanted chip which can be scanned and redirect users to his website.
Another resident, named Gleb Razgar, explains that he is working on a project referred to as 'brain uploading', which aims to create a digital representation of our bodies' CPU.
"Preferable regulations," Razgar says, when asked why he does his work at Próspera. "Bureaucratic regulations are extremely frustrating for scientists."
He goes on to add that 'general regulations' prohibit researchers from performing experiments on people.
Biohacker Bryan Johnson has even visited the city as part of his quest to 'live forever' to undergo follistatin gene therapy at a clinic named Minicircle, to extend his lifespan.
What are the criticisms of Próspera?
However, Próspera is not without its criticisms.
In September 2024, the Honduran government declared the Zones for Employment and Economic Development unconstitutional, with current President Xiomara Castro calling the scheme 'selling off our territory piecemeal or privatising our sovereignty'.
Meanwhile, ex-president Juan Orlando Hernández is currently in prison in the US, after being convicted of drug trafficking last year.
Despite the ruling, Próspera still exists, with Brimen even filing a lawsuit against the Honduran government in 2023 (via Wired).
The city has even created a page on its website with the goal of combating criticisms against the city.
This includes denying suggestions that Próspera is a tax haven or operating in a state of anarchy, as well as arguing the city brings in 'millions in foreign investment' and has created 'over 3,400 local jobs' for Hondurans.
Topics: Travel, Money, World News, Technology
Brenna Cooper