Why Turkey became one of the most appealing Citizenship by Investment programs available?
In terms of mobility, the Turkish passport has visa-free access to South America, Russia, Southeast Asia and certain Middle-East countries, which can be somewhat valuable. But is clearly behind other second passports available through an investment in some of its neighbors, such as Malta or Cyprus, or the Caribbean countries, which offer visa-free access through all of the Schengen area. Although Turkey is considered an EU candidate and qualified to join the Union, recent political events are highly doubtful that this will occur in the short term.
However, for those looking for a fast-track passport, especially for Middle Eastern applicants, the Turkish CBI may be more attractive and profitable than others. Considering the currently high yields for both deposits and government bonds or certain investments in real estate, with the lira at historic lows, may be an interesting medium/long-term option. For those willing to do business in Turkey, despite the political-economic uncertainty, the country has interesting investment opportunities, and a 2nd passport could be an added incentive.
One year ago, Turkey lowered its price to US$250,000. Fast forward one year, and the Turkish program has become the CBI market disruptor.
Many industry observers were surprised that such country even without Schengen access could take the mantle.
Turkey may be one of the most fascinating countries in our world. Its location between continents has made it a constant crossroads of historical cultures, influences, and great civilizations. The current price of the Turkish Lira, with significant depreciation against the dollar in the last four years, from USD 1 = TRY 2.93 (24/02/2016) to USD 1 = TRY 6.13 (24/02 / 2020), may be an added investing attraction. It is important to note that Turkey allows dual citizenship. Turkish citizens can travel 110 countries without a visa, with visa on arrival or eVisa, but most economic powers as the EU, US, Canada, India, Russia or China requires the issuance of a visa.
Turkey Citizenship by investment
Investment requirements have been lowered and its main objective is to stimulate the Real estate market, which has a current oversupply, and to attract foreign currencies and create jobs.
Turkey political and economic situati
2016 was a particularly convulsive year for Turkey. Terrorist attacks, the failed July coup, state of emergency and the subsequent confiscation of more than USD 10m in assets of companies considered to be engaged in unfair practices. There was a collapse of foreign investment, historical lows of the Turkish Lira, a public debt rated as Junk Bonds by several international agencies and a questioning of its trade relationship with the EU. Since then, Turkey has not seemed much like Eden’s Garden of prosperity.
2017 saw more trouble, with a referendum that gave more power to the president, an economy, an economy entering into a recession, security, internal conflicts with ethnic minorities and involvement in the Syrian Civil War across its southern border. Economic instability caused by its currency crash continued into 2018, but has since stabilized in 2019. Despite its problems, there are optimistic voices that continue to trust the country’s great economic potential. It was one of the fastest recovering economies after the global financial crisis, and despite the political turmoil.
Investment Opportunities in Turkey
One of the quick ways to get the citizenship is to establish a business that employs more than 100 Turks or invest in fixed capital. In addition, by citizenship by residence, establish a business and meet the above requirements, will allow us to obtain the Turkish passport in 5 years. Now, the million-dollar question is, what opportunities does the country offer us to start our business project. Keep reading.
Despite the collapse in 2016, Turkey has in recent times been one of the main recipients of foreign direct investment of West Asia, just behind Israel. It has an internal market of more than 70 million people, with a growing consumer middle class, public investment plans and developed infrastructure. The country is a gateway and distribution hub to the European market, Middle East, Central Asia, and North Africa, and it has signed free trade agreements with EFTA and with 32 other countries.
Turkey’s real estate sector has been a major driver of the country’s economic growth in recent years, as well as being the prime sector of foreign direct investment.
Turkey - Grenada treaty-based E2 visa
In last decade, E2 brought 5 times more foreign investors to the US than EB-5.
Turkey and Grenada CIP programs are now competing for the favor of prospective E2 applicants. the most obvious advantage of Grenada is that it has visa-free travel to Schengen and China and genuinely democratic elections.
Is Turkey part of Europe, Asia, or the Middle East? Mostly muslims ... It probably depends who you ask and perhaps what side of the city you live in Istanbul. E-2 visa issuances have grown 49% in Turkey over the past three years (422 in 2014, 629 in 2017). Many Turkish nationals are moving to Florida and California and investing in a wide array of franchises including fitness, coffee, and fast casual restaurants.
The E2 visa is a treaty-based visa, which means that only citizens of the Treaty Countries, those that enjoy a formalized, privileged relationship with the US, can apply. Unlike for the EB-5 visa, where the 700-visa per-country limit applies to applicants based on their country of origin, the E2 visa is based on citizenship.
The advantages the E2 (100.000 USD)has over EB-5 (thresold 900.000 USD Nov 21st ) are faster processing times, lower investment requirements, and – more importantly – no retrogression. As minimum investment requirements for the EB-5 rised, E-2 will be leading the global market.
Only five are E2 Treat Countries of CIP programs (Grenada, Jordan, Moldova, Montenegro, Turkey). However, Montenegro’s CIP is upcoming new market, Jordan's program is very expensive relatively in the markets and Moldova’s program remains under a moratorium, only two countries(Grenada and Turkey) offer viable E2-routes to the US at a price point that makes sense.
The Top 10 Reasons to Invest in Turkish Citizenship
-Turkish passport holders benefit from Visa Fee or Visa on Arrival access to 115 countries – as well as easy access to the Schengen zone, US, UK, Canada, & Australia
-Turkey is well on the path to being granted Visa Free travel to the Schengen zone countries
-There is no requirement to declare wealth or existing assets when applying for Turkish citizenship
-There is no requirement to reside in Turkey or to speak Turkish
-Turkey has a world-class infrastructure, with some of the best transport links and medical facilities in the world
-Turkey is a rapidly emerging, stable, democratic Muslim nation, with a great lifestyle, culture, and cuisine
-The Turkish economy is vast and diversified, providing a wide array of business opportunities
-Turkey is a member of the G20 and Nato, and enjoys strong relations with its neighbouring countries
-Turkey is one of the few self-sufficient countries in the world
-Turkey is the rising star of Eurasia, and it will be the hub of the world’s most important trading block
The following are the ways in which you could qualify for Turkish citizenship through investment: