Turkey lies at the crossroads of Europe and Asia and is one of the largest emerging markets in the world. Turkey is a country of opportunities for investors that can also take advantage of the affordable Turkish citizenship by investment programme.
By reading this blog, you will learn all the details you need to know that would help you capitalise on this great investment opportunity that includes the acquisition of a passport.
Turkey’s strategic position
The Turkish republic was established in 1923 as the successor of the great Ottoman empire. Turkey shares borders with 8 countries, among them Iran, Iraq, Azerbaijan, Bulgaria, Greece and others. Its strategic position and its almost 80 million population make it one of the largest emerging markets in the world and a great source of investment opportunities.
Turkish Lira and inflation
Turkey’s currency is the Turkish Lira which has lost significant value in the last couple of years as a result of the monetary and financial policies implemented by the government. The country’s statistical authority announced on November 3rd that consumer price inflation came in at 19.89%, on an annualised basis, in October.
The depreciation of the Turkish Lira has boosted exports which hit a $20.8bn record high in October. Commenting on the figure, economists at the trade ministry suggested that the target of registering a surplus in foreign trade would soon be achieved.
How is the Turkish economy structured?
Tourism is one of the main pillars of the Turkish economy. Data released by the government showed that the country welcomed 13.6 million visitors in the July-September period, jumping by 143.4% on a yearly basis.
The automotive, consumer electronics and steel iron industries play an important role in the manufacturing sector of the Turkish economy. Many European firms such as Mercedes, Renault, Bosch and others have built factories there, taking advantage of cheap labour. Many firms view Turkey not only as a large consumer market but as a hub that gives them access to the rapidly growing Asian markets.
Why invest in the Turkish Citizenship by Investment Programme
The Turkish passport ranks 57th on the Henley passport index, allowing you to visit 110 countries without needing a visa. The Turkish Citizenship by Investment Programme was introduced in 2016. In 2018, the Turkish government reduced prices, making the programme even more attractive to investors.
The process of acquiring a passport is usually completed in 3 months. It should be noted that citizenship is granted to the dependent family members of the applicant as well, without the need for separate investment funds.
How can I get a Turkish passport?
The Turkish Citizenship by Investment Programme is straightforward when it comes to requirements. There are several ways to obtain citizenship, ranging from property investments to the creation of jobs. The programme does not oblige applicants to reside in Turkey, speak the Turkish language or be in Turkey during the application process.
Our infographic shows the different routes offered by the Turkish Citizenship by Investment Programme:
Holborn and obtaining Turkish citizenship
While the programme’s requirements are clear, people who don’t have the necessary experience, time or knowledge might find the application process difficult. To avoid potential problems, we suggest that you get in touch with a fully qualified adviser with experience in such matters that could save time and money for you.
Our experienced team of advisers at Holborn is fully qualified to walk you through the application process and identify the right solutions that would help you achieve your goals. With our help, applicants do not have to worry about any problems related to the process. All you have to do is get in touch with one of our advisers today by using the contact form.