Turkish Citizenship Program: A Prime Alternative to Portugal’s Golden Visa Termination
Portugal recently ended its famed “Golden Visa” program, which allowed foreign investors to gain residency permits through property purchases or investments. This decision was a response to the nation’s housing crisis and the rising property prices, along with concerns about real estate speculation. Notably, Ireland was the first EU country to take such a step. Since its launch in 2012, Portugal’s program accumulated €6.75 billion ($7.22 billion) in revenue, attracting over 11,535 non-EU citizens and their families. China and Turkey were the top beneficiaries. In the light of these developments, investors seeking secondary residencies or citizenships may want to explore alternative avenues. One standout option is the Turkish Citizenship Program.
Key Highlights of the Turkish Citizenship Program
- Investment Routes: A minimum investment of $400,000 unlocks five avenues for gaining Turkish citizenship. These encompass real estate acquisition, business investments, Turkish bank deposits, purchasing government bonds, or investing in specific funds. The entire journey from investment to citizenship takes about 6 to 8 months.
- Benefits: Gaining Turkish citizenship doesn’t only grant a passport. It’s a gateway to Turkey’s thriving business ecosystem, rich cultural history, and a multitude of socio-economic advantages. Turkey’s geostrategic position as a bridge between Europe, Asia, and the Middle East has skyrocketed its appeal as a global investment hub.
- E-2 Visa Opportunity: Turkish citizens can leverage the E-2 visa to initiate businesses and reside in the USA. This visa also extends to the investor’s spouse and unmarried children under 21 years old.
- Economic Perks: Turkey’s 18 free zones come with tax exemptions and other benefits designed to bolster export-oriented investments. Investors can also access four distinct investment incentive schemes, each offering varied support levels.
- Double Taxation Avoidance: With treaties spanning 82 nations, including powerhouses like China, India, and Pakistan, Turkish citizens can avoid double taxation.
Living in Turkey: An Overview
Turkey is more than just a strategic investment location; it’s a blend of vibrant landscapes, rich history, and warm hospitality.
- Scenic Beauty: Turkey’s Mediterranean coastline promises sun and sea almost all year round, coupled with ancient ruins, pristine beaches, and towering mountains.
- Strategic Positioning: Straddling Europe and Asia, Turkey’s exceptional connectivity ensures easy access to diverse destinations.
- Affordability: With a monthly living cost ranging between $1,000 to $1,500, Turkey stands as one of Europe’s most cost-effective nations.
- Quality Healthcare and Education: Modern medical facilities and an education system boasting over 200 universities, including six globally ranked institutions, ensure top-tier services.
- Expat Community: Cities like Istanbul and Ankara are home to a flourishing expat community, making integration smoother for new residents.
One of the Turkish Citizenship Program’s standout features is its vast investment options spectrum. Notably, real estate, with its 15-25% annual growth rate, is the leading route for citizenship-by-investment, presenting investors with a potential ROI in just three years.
Moreover, this program stands out due to its simplicity. There’s no need for language tests or long-term residency. And, considering Turkey permits dual citizenship, investors won’t have to renounce their existing nationality.
In Conclusion, as Portugal’s Golden Visa fades, the Turkish Citizenship Program shines bright for global investors. This program presents a comprehensive package — diverse investment routes, dual citizenship, and an array of financial and lifestyle benefits. For individuals looking to broaden their investment horizons and embrace a new culture, Turkey might just be the ideal destination. For expert consultation and more insights, Contact us.
