What Do You Need To Know About Turkish Citizenship By Investment

Know About Turkish Citizenship By Investment
May 6, 2021 | | Second Citizenship, Turkish Citizenship |

Just some years ago, nobody thought about investing money in a country like Turkey. Back in 2017, Turkey introduced their citizenship by investment, with the entry cost lying around $1 million. However, not many people enrolled in such a program since the asking value was way higher than they anticipated. In mid-2019, they reduced the investment needed to 0,000.  Such a move made the program the hottest thing in residence and citizenship by the investment world.

Here, in this writeup, you will go through the rundown of what is Turkish citizenship by investment and how you jump on the hottest bandwagon.

What Is Turkey’s Citizenship By Investment Scheme?

If you do not know much about this program, let us have you covered. This is a specific scheme brought forward by the national government to attract people to make foreign investments in Turkey.  The government carries out such a move by offering their citizenship to those who invest a specific sum in Turkey through their pre-approved investments.

In such a program, the options vary widely and are limitless, but some of the factors remain the same.

  • One should ‘donate’ or invest a pre-set amount.
  • The allowed asset classes that you invest in are pre-defined.
  • The investor will be issued a passport in return.

Why Should You Choose Turkey?

Turkey is a significant country with one of its feet in the western European region and one in the Middle East world. With such a vast demographic, Turkey adorns a highly dynamic and diverse range of cultures. Its stunning landscapes and rich culture draw more than 50 million people to its cities and beaches in 2019. However, tourism is not only a thriving industry as the country is newly industrialized, producing so many things from home appliances to televisions.

Turkish Citizenship By Investment

The Turkish citizenship by investment scheme is an absolute way to obtain your second passport, but this time with more straightforward rules. Since January 2017, one can buy his or her way to Turkish citizenship.

Advantages of Having A Turkish Passport

  • Pass it on – You can pass on the citizenship to your children.
  • Visa-free travel – One can visit over 110 countries, including Latin America and Japan.
  • Quick routes to the UK and USA – You can get access to work and live in the United States and the United Kingdom as a Turkish citizen.
  • Get your passport quickly – Receive your citizenship within 3-4 months.
  • Bring your family – You, along with your dependents, will be issued citizenship.
  • Investment options – You can pick from six routes for obtaining a Turkish passport.

How Did Such A Program Come Into Existence?

In order to understand how citizenship by investment came into existence, you need to understand the situation of the country in 2017. Back in 2016, major terrorist attacks took place, targeting tourists. Perhaps, one most prominent one was the attack that occurred on 28th June in the Ataturk International airport’s departures hall, where 45 tourists were killed.

Moving on to the next section, your initial investment post-2016 was set around:

  • Purchasing of real estate properties of around $1 million
  • Regular Investment of about $3 million

As already discussed, not many people were interested earlier in citizenship by investment program. However, when the values dropped, the country’s CBI program has only looked forward and flourished.