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Comparing Turkish Citizenship by Investment Program with Other Countries

Guide to Global Citizenship Programs: From Portugal to Turkey

By

Hamza Laalioui

Posted in Buyer Guide, Economy, Investment, Real Estate On

Guide to Citizenship Programs Worldwide

Obtaining second citizenship has become a strategic move for many, considering the various benefits it can offer. While several countries offer enticing citizenship programs, Turkey is undeniably a frontrunner. This guide delves into the specifics of a few prominent citizenship programs, shedding light on their advantages, requirements, and potential downsides.

Portugal Golden Visa

The Portugal Golden Visa program offers various investment options such as venture capital funds, real estate, company creation, and more. If one targets real estate, options range from €280,000 to a more elaborate €500,000 urban rehabilitation choice, where the buyer renovates the acquired property.

Benefits include living and working rights in Portugal, visa-free Schengen country visits, and eligibility for citizenship post five years. However, this program has specific limitations like age constraints for dependent family members and residency stipulations for tax benefits.

Caribbean Citizenship Program

This program spans five Caribbean countries, offering a fast-track route via investment. Starting from $100,000, this process takes a mere 3 to 6 months. Advantages range from moving bases due to unforeseen circumstances to availing a coveted British education for children.

Yet, a comparative study is crucial as processing fees and timelines might vary across these countries.

Greece Golden Visa

Greece’s Golden Visa, at a €250,000 threshold, is among Europe’s most attractive real estate investment programs. The residency permit lasts five years, costing €2,000 annually. Investors benefit from Schengen zone mobility and an affordable Greek living cost. However, Greece has its set of limitations, from high property taxes to employment restrictions for new residents.

Turkish Citizenship Program

Turkey’s strategic geographical location and rich cultural heritage make it an ideal choice for many. By purchasing property valued at 75,000 USD or more, investors can enjoy Turkish residency. For those eyeing citizenship, the threshold is 400,000 USD.

The perks are manifold, from excellent healthcare and education to the provision of selling the property after a short three-year span.

Considering a move or need deeper insights into global citizenship programs? Explore more on our blog page or contact Prestij Consulting for expert guidance!

 

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Turkey’s Healthcare System: A Comprehensive Guide Healthcare for Foreigners in Turkey Over the last 15 years, Turkey has been a popular destination for foreigners looking to purchase a property or start a business. The reason for the rush to buy property in Turkey was that it provided extremely cheap property choices compared to several European nations. Even in 2021, you may still get decent or even better offers because the country guarantees a safe and comfortable lifestyle accompanied by excellent climatic conditions at affordable pricing. There were a few real estate horror stories of people who acquired properties in Turkey, especially in the early years of the real estate boom. After purchase, some customers learned that they did not receive what they expected or that the owner had sold the property to other buyers. There were even reports of people being scammed and receiving nothing in return for their so-called "investment." The huge majority of property purchase transactions in Turkey were completed smoothly, and the majority of customers were pleased with their investment; however, these rare situations in which things did not go as planned were emphasized in internet forums, etc. As a result, they affected negatively the whole Turkish housing market and real estate agents. Fortunately, rising foreign investment has forced the government to strengthen controls and enhance penalties to prevent real estate fraud. These issues have largely been eliminated as required procedures have been adopted. However, this does not mean that everything is secured or that the purchasing procedure is simple. Purchasing property in Turkey is fairly safe and simple if you do things correctly and deal with a competent real estate company that understands what they are doing. The first and most important step is to find a qualified company with reputable lawyers. A competent real estate company provides purchasers with a greater sense of security, which is particularly important when buying a property abroad. A title deed, for example, is the most important component of this procedure. Before promoting the property, your real estate agent should verify the title document to see if the seller is the original owner. They should also look into whether the title deeds are collateral for any loans or if the owner has any outstanding debts that you may be responsible for if you acquire the property. In brief, you should conduct research on the company for which you will be working to make sure that they are trustworthy. There are several questions you must ask. How long have they been in this sector? Do you know anybody who purchased a property from them? Do they have a physical location and a website? You should also deal with a local real estate agent who speaks your language well or with whom you can communicate effectively if you share English as a second language, for example. So we know that language is vital in order to avoid buyer confusion. If you do these things correctly, it is just as safe to buy property in Turkey as it is in any other country with high professional standards. Guide to Buying Property in Turkey