We can assist if you are interested to discuss or pursue the citizenship route to Turkey.
Many countries are in crisis mode or declining mode for one reason or another.
However, Turkey is flourishing and allows foreigners to invest money in Turkey in order to receive the citizenship of Turkey.
The inflation rate in Turkey is very high (probably similar to several other countries) and the currency has plunged but those are good signs for foreigners (though not as much for the locals).
US Dollar and other currencies get highest exchange rate ever when converting into Turkish Lira while chances are high that in the months and years ahead Turkish inflation shall drop while currency and real estate shall appreciate.
Potential for gains in currency as well as real estate appreciation could be a huge incentive for foreigners to take citizenship of Turkey as a bonus because right now we are probably at the worst time and should Turkey continue to stabilize and grow, the chances are quite good for positive gains.
Effective June, 13, 2022, Turkey has hiked the minimum property purchase amount in order to acquire Turkish citizenship from USD 250,000 to USD 400,000.
This used to be 1,000,000 USD in 2018 when they dropped it to USD 250,000 in order to attract more foreigners but now demand is sky high, hence they have increased the minimum amount.
At this point, it is literally impossible to find a property, pay the developer and get the title deed issued prior to June 13, hence, the rule change is practically implemented effective immediately.
Turkey is one of the cheapest places in the world to get a citizenship. However,, after this rise to USD 400,000 minimum, it just went up a notch.
May 10, 2022: ‘Turkey among countries that offer cheapest citizenship’
One of the biggest benefits of Turkish passport as compared to many countries from Asia, Africa or Latin America is that it allows visa free travel to 110 countries.
This includes South Korea, Brazil, Indonesia, Malaysia, Oman, Philippines, Qatar, Singapore, South Africa, Thailand etc.
In terms of real estate, Turkey is seeing a massive influx of foreigners as well as domestic buyers.
You may review the latest update from JLL brokers on the entire real estate market of Turkey from residential to commercial to hotels and malls etc.
You may review the latest update from JLL brokers on the entire real estate market of Turkey from residential to commercial to hotels and malls etc.
Some highlights:
11th largest economy in the world (jumped 7 places in 17 years).
Reduced public debt to GDP ratio from 71% in 2002 to 39% in 2020.
Expanded GDP from 238 billion USD to 717 billion USD in 18 years.
Generated 6.2 million jobs in 10 years.
House prices are rising rapidly thus the President himself is ordering reviews, changes in laws etc.
May 14, 2022: House prices to be under spotlight
Foreigners acquiring citizenship of Turkey are a key driver for tourism, retail sales, real estate sales, mall sales etc.
May 17, 2022: Russians top foreign buyers as Turkish house sales mark record April
May 17, 2022: Russians top foreign buyers as Turkish house sales mark record April
As per the most recent data as of this week, Turkey is almost back to pre Covid levels which almost no country has reached so far in number of tourists.
Tourism is also helping the local economy in terms of spending at hotels, restaurants, malls etc.
Jun 3, 2022: Foreign shoppers boost malls’ revenues
In terms of business, trade, exports etc, Turkey is flourishing like no other country.
We all know how so many countries are fighting with one another by applying sanctions, bans etc and there are wars happening aside from border closures, border skirmishes, visa bans etc
In today's world, no country can grow without hefty trade with China who is the No 1 consumer and No 1 manufacturer in the world.
Turkey is no exception. Turkey is benefiting the maximum because it is a reasonably large country with over 85 million people plus others are busy fighting or arguing with China hence Turkey is flourishing while others are struggling.
China is supporting Turkey and allowing them to have their online stores to sell Turkish goods in China. Major countries such as India, USA, UK etc are not provided the same access inside China.
Finally, we may see below how rapidly Turkey is building its trade and diplomatic relations with all the countries in the region. This is excellent for trade as they are mending broken relations with countries such as UAE, Saudi, Egypt and Israel.
This shall strengthen business and trade even further in the months and years ahead whereas so many countries are busy fighting with each other.
Feb 14, 2022: First visit to UAE in more than a decade.
Jun 2, 2022: Saudi Crown Prince is visiting Turkey this week.
May 18, 2022: Iran trade with Turkey is surging.
Jun 1, 2022: New Pakistan PM just visited Turkey last week to strengthen trade relations.
May 11, 2022: Kazakhstan President visited Turkey last month.
May 23, 2022: Turkish Finance Minister shall visit Egypt this month in a thawing of relations.
Jun 6, 2022: Turkish President Erdogan himself is visiting Kyrgyzstan next month.
President Erdogan is also improving relations with Israel after several years of issues.
You may leave comments below or if you have any interest to to discuss Turkish citizenship process, you may contact us via email on top right corner of this blog.
Stay tuned!
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