Próspera

Próspera
Próspera
Coordinates: 16°22′N 86°28′W / 16.367°N 86.467°W / 16.367; -86.467
Country	Honduras
Department	Bay Islands

Próspera is a private charter city and special economic zone on the island of Roatán in the Central American state of Honduras. The city is based on a concept by American economist Paul Romer and is intended to form autonomous zone with private government and its own fiscal, regulatory and legal architecture,^[1] though he has since retracted from the project due to transparency concerns.^[2]

Overview[]

Próspera is a new, privately-managed settlement in Honduras with a plan to grow into a prosperous city with modern infrastructure. It is located on Roatán, a Caribbean island off the northern coast of Honduras.

Based on 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 ZEDE law in Honduras was inspired by successful special economic zones such as Shenzhen in China or Dubai in the United Arab Emirates.

The project is managed by The company is financed by several investors and venture capital firms, including .

intends to make it much easier for residents to interact with government services (e.g. to start a business, pay taxes, import goods) than it typically is in Honduras by experimenting with making the incentives of the local government more aligned with the needs of the residents.

Social services such as health and education will be privatized and financed from taxes, fees, and the sale of land to new residents and investors. Individuals may also apply for "e-residency", which will allow them to register businesses in Próspera and benefit from the local tax and regulatory structure.^[3]

Residents must sign the city's social contract and pay a fee if they want to live in Próspera, which is $260 for Hondurans and $1,300 for foreigners.^[4]

As of May 2021, Próspera is 58 acres. It expand over time through land purchases or when Honduran landowners incorporate their property into the Próspera juridiction.

History[]

The foundation for the project as ZEDE (Zone for Employment and Economic Development) was laid in 2011 under President Porfirio Lobo Sosa, but was declared invalid by the Honduran Supreme Court in 2012 because it would violate Honduras' national sovereignty. Subsequently, a modified plan was approved by the Supreme Court after the judges were replaced. American economist Paul Romer was initially involved in the project, but left soon after.^[4]

By early 2021, the project was in the starting blocks and the city's first buildings were constructed. German architect Patrik Schumacher is involved in the design of the apartments.^[4]

Government[]

The city will be 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. Although the city will be subject to the criminal justice system of Honduras, it will have its own civil law.^[5]

Criticism[]

The project is criticized for the lack of transparency in its implementation. Since it is a large-scale project of foreign investors in which local laws are virtually suspended, it is also criticized as imperialistic. The construction and possible expansion of the city is also feared to lead to the expropriation of the local population and human rights violations.^[6]

The Technical University of Munich withdrew from cooperation with the project due to concerns about human rights.^[7]

References[]