The Turkey citizenship by investment scheme (CIP) has seen a booming popularity since its inception on the 17th of November in 2017. More than 9000 people have been granted naturalization and are now able to get the Turkish passport by investing and the number of people who have been granted citizenship is expected to increase.
In this article, we’ll detail the benefits that the majority of these people hoped to obtain through making the decision to acquire Turkish citizenship. However, we will also discuss some of the less-known advantages of being an Turk which can totally change your life. However, before that we’ll give you an review on what is the Turkish CIP.
A brief overview of Turkish CIP
The Turkish government launched the popular CIP in the year 2017 and cut down the investment threshold required for citizenship in the year 2018. The threshold that is required for the real property option, which is the most sought-after among investors around the world, was reduced from 1 million USD to 250,000 USD.
The low cost isn’t the only benefit of the program. The simple timeline and speed make a big difference in making it a favorite choice for many investors. The concept behind Turkish CIP is simple. Turkish CIP is founded on simplicity and efficiency 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 takes between three to six months. It is not required to submit any documents, and investors can add their spouse and children younger than 18 years old to the application.
The Major Benefits from the Turkish Passport
The ease in the CIP is a major draw however it’s the long-term benefits which attract the top people from around the globe. Being an Turkish citizen has many benefits, here are the most well-known and well-known benefits you can enjoy as a fully-fledged Turk.
Global Mobility – Enhanced Global Mobility
Travelling across the globe is difficult due to the complexity of visa requirements, a problem which a second passport may aid in solving. Turkey’s passport permits visa-free travel for 111 destinations around the world, including key global trade hubs such as Hong Kong, Japan, Singapore, Qatar, and numerous others.
Simple Program
We discussed the simplicity of the procedure for the Turkish CIP however, even when we go into more details, the simplicity of the software remains striking. The checklist for the entire document is just one page. The entire process is completed at a distance by naming a firm to handle your case. Another thing to remember is that this investment is very safe If you decide to invest in real estate, you will have an asset that is generally more risk-averse.
Transmitted to future generations
Many investors are seeking citizenship through investing in investment programs, not to benefit themselves but for the benefit of their grandchildren. The Turkish CIP is a standout in this regard according to the naturalization law as well as Citizenship Act, Turkish citizenship is passed down in a natural way to the next generation. Making a decision to invest on Turkish citizenship is an investment which will benefit you and future generations forever.
High Living Standard
An essential aspect of investing in citizenship is evaluating the country as a potential plan B, or possibly a new home. Turkey is a perfect fit and boasts a top quality of life, with a great healthcare infrastructure, bustling business and a low cost of living as well as a pleasant and varied climate, delicious food as well as high-speed internet connectivity, lots of entertainment options, and other crucial factors to be considering before you decide to settle in another country.
The Unknown Benefits from the Turkish Passport
As we have covered the primary advantages of being Turk Turk that are obvious to the majority of people, we would like to talk more about the less-known benefits that could prove much more beneficial.
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 costly EB5 visa, as well as the tough-to-find H1 visas. They are not easy to get or even the EB5 is definitely not financially feasible for many.
There is an exception to this: it’s the US E2 Treaty Visa. It is a basic visa that permits you to live and work in the US by establishing your business on American shores. It also lets you sponsor your spouse or children who are under 21 to travel with your.
No minimum investment needed, and the processing time is 3 months, however it can be extended to 3 weeks for a nominal cost. But, it’s treaty-based meaning it’s only accessible to selected nationalities and fortunately, it is available to all nationalities, and the Turkish nationality is included on the list.
It’s not just that Turks can avail this economical way to travel US It’s the validity of their visa. Turkish citizens are granted a five-year E2 visa that allows multiple entries. Other nationalities with eligibility, like Egyptians or Jordanians For instance, they are granted a single year, one-year entrance E2 visa.
Solid Relations with The EU
The relationship between Turkey and its EU could be stated in a variety of ways, but all agree that the changes in the percentage and increasing trade have strengthened the relationship than ever before. Turks have the option of applying to be granted long-term Schengen visas and are able to obtain visas for immigration in certain countries.
Consider the Netherlands as an example. The EU country has a variety of ways to enter the country, the most well-known being the self-employed Visa, which could lead to permanent residency or citizenship for the Netherlands. However, in order to get this visa , you must go through a lengthy pointing process in the event that, for example you are the Turkish citizen.
Turks are not required to satisfy the requirements of the pointing system, and must meet the minimum conditions to be eligible. This makes it easier to apply for asylum as an Turk as opposed to other non-EU-based national.
Economic Benefits
The Turkish economy has been consistently expanding; it has had an average YOY growth of 3.84 percent over the last five years. The GDP of the UK, by contrast, suffered a decline by an average of 11% over the same time frame. These figures are a stark reminder of the Turkish government’s strategy and implementation of its economic growth strategies.
The Turkish real property market is also thriving due to the CIP and the renowned tourist destination Istanbul has seen appreciation rates increase dramatically. In the Turkish property market has continued to expand rapidly and even reach an annual rate of 16.2 percent.
The best is yet to be on the way, since in 2023 there are two significant developments to the Turkish economy, the one being the dissolution of the Lausanne Treaty, which has restricted the country’s economic capabilities over the last 100 years. The second is in the form of energy, since Turkey has recently found a huge gas reserve within the Black Sea and should start making money from these deposits by 2023.
Education
The education system in Turkey is an important draw for immigrants around the world. Turkey has a wealth of universities that excel in different fields of studies. Engineering, medicine, architecture, ICT, and business majors are just a few of the many options that are available to the next generation of 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 the production of some of the top doctors and medical personnel.
The tuition in Turkey is quite affordable especially for Turkish citizens, since tuition for public universities usually can be found between 600-1000 USD per year for English courses , whereas Turkish courses are much cheaper and range from 240 to 750 USD.
Future Potential
It is a vast field of possibilities to be honest. Turkey is constantly growing and evolving, while also looking for the next major thing. A new deal to replace it with the Ankara Agreement between Turkey and the United Kingdom looks more likely as the days progress. It is believed that the Ankara Agreement, which expired due to Brexit, increased trade between the two countries while also granting Turks their own route to immigration into the UK.
Turkey is currently working to obtain visa-free entry into the Schengen zone for its citizens that will make their passports among the most prestigious in the world.
It doesn’t end there. A resurgence in the technology industry is to be in the near future, while the possibility of oil and gas becoming a significant business within Turkey could put it in line with top economies in the world.
Although all of this is still speculation, or, better yet the science of forecasting there is one thing that is certain: Turkey continues to surprise everybody.
How do I Gain Turkish Citizenship
The Turkish passport has many advantages, some of which are well-known but others are hidden gems. The investment you make in Turkish citizenship can be repaid in numerous ways and for generations to be.