Thanks to some recent changes in the legislation of the Turkish Republic, their newly opened citizenship program in 2016- Citizenship by Investment or turkish citizen investment has become one of the more attractive citizenship by investment programs available worldwide. It is relatively new, considering the first citizenship by investment program was launched in 1984; however, it has quickly gained popularity due to its very attractive features.
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What is new about the Turkish Citizen Investment program compared to others?
Here are some special points about the Turkish Citizenship by Investment program.
- It has the lowest cost amongst all its competitors on the market. Though in 2016, it had had a minimum cost of $1 million for the property bought, due to the government trying to revive Turkey’s property market, the price was brought down to $250,000 instead.
- There is no requirement for a minimum period of residence prior to the investment for citizenship. The recent changes in legislation had allowed this.
- Due to the investment being the only requirement for a citizenship, generally the whole process in completed in a matter of 2-3 months.
- The citizenship is automatically applicable to dependent members of the applicant’s family, without need for separate investments.
Why choose Turkish citizen investment over other countries?
Despite many investors preferring to bypass Turkey and get dual citizenship directly into the EU, turkish citizen investment has been steadily gaining popularity with its treaties with USA and UK about easy visa application, and is in talks with EU about Visa-free travel in the future.
So, what do you get out of citizenship by investment with Turkey?
- Permanent right to residence- Investing in real estate will get you a permanent residence permit in Turkey, the only catch is that the permit needs to renewal every 6 months.
- You will permanently be allowed to work and invest freely in Turkey
- The Turkish passport allows for Visa free travel to 114 countries. That means it is only necessary to apply for a visa once you’ve reached the country. The countries include Japan, Malaysia, Singapore and the Caribbean.
- Thanks to the E-2 Visa agreement with the US, it is very easy to get a Visa into the US. The Turkish Businessperson Visa Program does the same for a business visa to the UK.
Since the dramatic price reduction, there has been 2600 main applicants (not including family or dependents) from various countries such as Iraq, Egypt, Palestine, Afghanistan and Pakistan. Turkey also has an advantageous central location; between Eastern Europe and Western Asia. That makes travel to other countries easier for businessmen.
How do you go about getting a Turkish citizenship by investment?
There are three ways you can get into Turkish Citizenship by Investment program. You can put down either a bank deposit or a capital investment, which costs around $500,000 or invests in real estate, which is $250,000. The process works fast and can be expected to be completed in 3-6 months. Corporations like PWC Turkey have the means to help clients through the application process, as well as settling in the new citizens with all the required documents needed to function in Turkey.
How will a dual citizenship with Turkey benefit?
Once you’ve gone through with the investment and have completed the application process, the turkish citizen investment can provide you and your family with some amazing benefits, such as-
- A safe place where you and your family can easily travel to in times of need, due to the same application being applicable for all the dependents of the applicant.
- Your children having a Turkish citizenship makes it easier for them to get visas in the US due to the E-2 visa program.
- It will be much easier to do business and grow your company with a citizenship in Turkey.
- Global mobility increases thanks to the 114 countries that allow visa free travel on a Turkish passport, simplifying travel in the future.
A dual citizenship is a smart investment in today’s world as the benefits to having complete access to another country is endless. So, it is worth considering.
