Looking for the fastest, most affordable passport by investment programme in the world? September 2018 saw the Turkish government announcing a radically reduced investment threshold of only $250,000 for the Turkish Passport By Investment Programme, placing second citizenship within reach of a far greater number of people in South Africa.
But here’s the thing:
This offer is not going to be around for long.
Government insiders with first-hand knowledge on the matter have already indicated to us that the investment requirement for citizenship is likely to double within 12 months, so if it’s a second passport you’re after, NOW is the time to move on this…
FREEDOM OF MOVEMENT: Enjoy visa-free travel to around 100 countries across Asia, Africa, Europe as well as South and Central America
SECOND CITIZENSHIP: Whether you’re internationalising for business, security or retirement, Turkey is an excellent choice as a second citizenship destination for third country nationals from Africa, Asia and the Middle East.
FAMILY INCLUDED: Your spouse and children under the age of 18 can aslo apply for Turkish passports and citizenship
DUAL CITIZENSHIP: Turkey recognises dual citizenship, so there is no need to renounce your own citizenship.
NO MINIMUM STAYS: You can obtain a Turkish passport without setting foot in the country, and you can continue living abroad – no minimum stays enforced.
Moreover, with a property purchase of only $250,000, foreign nationals can now obtain full Turkish citizenship and a passport outright through, rather than just obtaining residency by investment.
With a view to further stimulate foreign investment, the deposit requirement to obtain citizenship and a passport has been reduced from $3 million to only $500,000.
For foreigners interested in making fixed capital investments, the minimum requirement has been reduced to $500,000 from $2 million. For foreign investors wishing to meet the economic citizenship requirement through job creation, the minimum number of employment opportunities required has been reduced from 100 to only 50.
The programme has sparked significant interest among Nigerians, South Africans, Iranians and Ukrainians, in particular.
In terms of supply and demand economics, Turkey’s recent emphasis on real estate development has led to a surplus in stock, making the value on offer exceptional. In combination, the Turkish lira’s recent 40% devaluation means that foreigners can now buy already well priced stock at even more deeply discounted prices.
Within days of the announcement, market interest in this golden citizenship programme has sharply increased; hundreds of South African nationals have already expressed interest and contacted Maiden & Associates to participate in the programme.
Turkey’s central geographical location, combined with its temperate climate, vibrant culture and sheer affordability makes it an excellent destination for South Africans looking for a Plan B offshore. Primary applicants can also apply for citizenship rights for their spouses, parents and dependent children, making it the ultimate insurance policy against the socio-economic and political risks in South Africa. The programme has also been very well received among Arab nationals wishing to hedge the risks associated with their native jurisdictions.
The Turquoise Coast, and cities like Antalya and Bodrum, in particular, are rapidly becoming more sought after as real estate investment destinations, while Istanbul itself remains ever popular amongst foreign buyers.