Turkey citizenship by investment program is becoming popular among expatriates looking to invest in a safe yet lucrative country. The investment program invites eligible candidates to invest in the country, in return for lifelong residency. As a key country nestled between Asia and Europe and thus of major strategic importance for international business, a Turkish national passport offers visa-free entry to more than 111 destinations across the world, including Hong Kong, Japan, South Korea, and Canada. A secure investment climate, low unemployment, and a moderate investment climate are just some of the factors that have made investing in Turkey a smart choice.
Turkey is an interesting country that is often overlooked in terms of being a good place to do business. It has a very strong economy based on tourism and the services industry. Because of this, the country attracts large numbers of international investors who are looking to make money in Turkey. This has resulted in a boom in real estate development and new development of urban areas around the country. Many people are investing in properties in Turkey and are finding the benefits to be fantastic.
As a potential investor, there are certain requirements that you should fulfill to become eligible for Turkey citizenship by investment program. These requirements are specified by law and cannot be ignored. To visit Turkey, you must have a valid passport that is issued by the country of your origin. A minimum investment of 18 years is required as well.
Why Investing in a Property in Turkey?
There are numerous reasons why investing in a property in Turkey is smart. First of all, you can open new doors by purchasing property in this country. If you have a criminal record in your home country, you can’t purchase property in Turkey, unless it’s to facilitate an investment deal. Property purchased in Turkey, even if it’s not for sale, can be used as collateral for certain kinds of financial transactions.
Permanent Residency Permit
Secondly, investing in Turkey also allows you to obtain a permanent residency permit. With a residence permit, you can reside legally in Turkey for the rest of your life. For example, if you plan on visiting family members in Turkey, you don’t have to obtain a tourist visa. If you have a permanent residency, you can apply for immigration. You can also apply for naturalization if you plan to retire to Turkey or live in the country for good.
Must-Have Currency
To invest in Turkey, you must have a currency that is recognized by the Turkish Republic. The most common currency that is accepted is the Turkish lira (TRY). If you don’t have this particular currency, you may still be able to invest if you have other convertible currencies – US dollar, EUR/USD, GBP/GBP, and other major international currencies. The capital you need to acquire to become an e-2 investor visa holder is only about $200.
Complete Your Due Diligence as an E-2 Investor
Before investing in Turkey citizenship by investment program, you need to complete your due diligence as an e-2 investor. In this case, you should do your research regarding Turkey’s legal system. Due diligence is done in two different ways. First of all, you can go online to find out more about the different legal systems of Turkey. You can use the local yellow pages as well as the Internet to find out what different people, companies, and institutions are involved in Turkey citizenship by investment program.
Understand How the Investment Scheme Works
Once you finish your research, it would then be up to you to complete your due diligence. This means that you would need to understand how the investment scheme works. At this point, the best source of information that you can get is to hire an immigration agency just like 7Sky Immigration who specialized in investments.
7Sky Immigration will help you obtain the paperwork required as part of the application process for Turkey citizenship by investment program. Additionally, the company will also assist you with the documentation that is required to legally open a bank account in Turkey.
The next step that you have to take to become a Turkish citizen is to secure your Turkish citizenship by investment and acquire a temporary resident visa. You can do this by applying at the consular office for your native land. The moment you are granted residency rights; you can start using your Turkish passport to visit family members in the country.