The Turkish citizenship-by-investment programme (CIP) has seen a booming growth in demand since its introduction at the end of 2017; over 9000 people have become naturalized and are now able to get an Turkish passport with investments and this number of people who have been granted citizenship is expected to increase.
In this article, we’ll detail the benefits that the majority of them hoped to get through making the decision to acquire Turkish citizenship. However, we will also discuss some of the less-known advantages of being an Turk that could completely change your life. But first we’ll give you brief review on what is the Turkish CIP.
A brief overview of Turkish CIP
The Turkish government announced the popular CIP in 2017 and cut down the amount of investment needed for citizenship in the year 2018. The minimum investment threshold for the real property option, which is the most sought-after option among investors around the world, was reduced from 1 million USD to 250,000 USD.
The affordable price isn’t the only benefit of the program. The speedy timeline and ease of use make a big difference in making it a favorite choice for many investors. The idea behind this Turkish CIP is built on the efficiency and ease of use All you have be able to accomplish is
Make an investment that is qualified
Apply for permanent residency
Apply to be a citizen
The entire process can take between 3 to 6 months. It requires only minimal documentation. Investors can add their spouses and children under 18 years of age to the application.
The Major Benefits from the Turkish Passport
The simple nature that is the CIP is a major draw however it’s its long-term benefits that attract the top people from around the globe. The process of becoming an Turkish citizen offers numerous benefits. here are the most well-known and well-known benefits that you can reap when you become a full-time Turk.
Improved Global Mobility
Travelling around the world has become an issue due to complicated visa requirements, a problem that a second passport could assist in resolving. Turkey’s passport permits visa-free travel to 111 countries around the world, including key global trade hubs such as Hong Kong, Japan, Singapore, Qatar, and numerous others.
Simple Program
We have discussed the ease of the procedure of the Turkish CIP but even when we go into more specifics, the ease of use of the software remains striking. The checklist for the entire document is not more than one page. The entire process is completed at a distance by naming a firm to represent you. Another thing to remember is that investing in real estate is very safe and should you decide to invest in real estate, you are investing in an actual asset that is normally at risk.
Transferred to the next generation
The majority of investors seek citizenship through investing in investment programs, not to benefit themselves however, but to ensure the welfare of their children’s future. The Turkish CIP is a standout in this regard in accordance with the naturalization law as well as Citizenship Act, Turkish citizenship is passed down in a natural way to the future generations. The investment into Turkish citizenship is an investment which will benefit you and future generations forever.
High Living Standard
One of the most important aspects of assessing the quality of citizenship through investment is to evaluate the country as a potential plan B, or a potential home. Turkey is a perfect fit and boasts a top living standard , a top healthcare system, a bustling commercial and a low cost of living as well as a pleasant and varied climate, fantastic food and high-speed internet access, a variety of things to do, and other crucial factors to think about before making the decision to move to another country.
The Unknown Benefits from the Turkish Passport
As we have covered the primary advantages of being aTurk that are evident to many, we’d like to talk more on the lesser-known benefits which could be more valuable:
The E2 Visa
It is true that the United States of America is an important destination for immigration such as the famous lottery, to the pricey EB5 visa, as well as the tough-to-find H1 visas. All of them are difficult to get or obtain, or even the EB5 is definitely not financially viable for a lot of people.
There is an exception to this: that of the US E2 Treaty Visa. This is a straightforward visa that lets you reside and work in US by establishing your business on American shores. Additionally, it permits you to sponsor your spouse or children who are under 21 years old to join the rest of your family.
It is not a minimum investment required. The processing time is 3 months, but it is extended to 3 weeks with a cost. But, it’s treaty-based that means it’s only available to certain nationalities and fortunately, it is available to all nationalities, and the Turkish nationality is included on the list.
However, it’s not only that Turks can avail this low-cost method to get to US and it’s the validity of their visa. Turkish citizens can get a five-year E2 visa with multiple entries. Other nationalities with eligibility, like Egyptians or Jordanians for instance, are granted a single year, one-year Entry E2 visa.
Solid Relations with The EU
The relationship between Turkey and relations with the EU could be stated in various ways, but all agree that the yearly developments and increasing trade has made the relationship more energizing than ever before. Turks have the option of applying in the long term for Schengen visas and can benefit from immigration routes in certain countries.
Consider the Netherlands as an excellent illustration. The EU country has a variety of ways to enter the country, one of the most sought-after one being the self-employed visa that can result in permanent residency as well as citizenship within the Netherlands. To get this visa , you must go through a lengthy pointing process in the event that, for example you are an Turkish citizen.
Turks are not required to comply with the requirements of the pointing system, and need to meet the fundamental conditions to be eligible. This makes it easier to move as Turks Turk as compared to any other non-EU-based national.
Economic Benefits
The economy of Turkey has been steadily growing, and has experienced an average annual growth of 3.84 percent over the last five years. The GDP of the UK, by contrast, experienced a decrease of a mean 11% over the same time. These figures are a stark reminder of Turkey’s plans and execution of economic growth plans.
The Turkish real property market is also thriving due to the Turkey citizenship by investment scheme and the renowned investment location of Istanbul has seen appreciation rates increase dramatically. It is evident that the Turkish property market has continued to expand rapidly to an annual rate of 16.2 percent.
The best could yet be on the way, since in 2023 there are two major breakthroughs in the Turkish economy, the one being the dissolution of the Lausanne Treaty, which has held the Turkish economy in a bind over the last 100 years. The second one comes in the shape of energy, because Turkey just recently discovered a huge gas reserve within the Black Sea and should start making money from these deposits by 2023.
Education
The education system in Turkey has been an attractive option for those looking to move across the globe. Turkey has a wealth of universities which excel in a variety of fields of studies. Engineering, medicine, architecture, ICT, and business specializations are just a few examples of the options that are for the future generation in Turkey.
Universities like Cankaya University, Istanbul Technical University, Istanbul University, and Koc University are some of the most prestigious in the United States and the latter excelling in producing some of most renowned medical professionals and doctors.
In Turkey is quite affordable particularly for Turkish citizens, since the tuition at public universities typically can be found between 600-1000 USD per year for English courses , whereas Turkish courses are much cheaper in the range of 240-750 USD.
Future Opportunities
There are so many possibilities to be honest. Turkey is constantly expanding and evolving, while also looking for the next major thing. A new agreement that replaces it with the Ankara Agreement between Turkey and the United Kingdom looks more likely every day. It is believed that the Ankara Agreement, which expired due to Brexit, increased trade between the two countries while also granting Turks their own path to immigration into the UK.
Turkey is currently working to obtain visa-free access to Schengen area for its citizens that makes their passport among the top in the world.
It doesn’t end there. A resurgence in the technology industry is likely, and the idea of oil and gas becoming an important sector within Turkey could place it in the same league as top economies in the world.
All this is speculation, or, better yet the science of forecasting One thing is sure; Turkey continues to surprise everybody.
How to Get Turkish Citizenship
The Turkish passport is a great choice for travelers. It comes with numerous benefits, some of them well-known but others are hidden gems. The investment you make in Turkish citizenship is repaid many ways, and for generations to be.
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