Turkish and Cyprus Citizenship Programs

If we were to ask most investors today why they would want to acquire dual citizenship, most of the answers would probably revolve around securing their family's future, especially since today's investors can easily obtain a Schengen visa that allows them to travel anywhere in the world. There, the topic of travel is a matter of time.

The comparison process starts with the best naturalization program in the region that ensures freedom of movement and access to the world for all family members?

The comparison must hinge on several features that resolve disputes and allow foreign investors to decide to fund their next target. Meanwhile, in this article, we do a quick comparative study of the Turkish citizenship program for foreign investors and the naturalization program of Cyprus, a member of the European Union and a key partner of the Schengen alliance.

Cyprus Citizenship Program Allows Foreign Investors to Naturalize

The Cyprus Citizenship Program was established in 2016 to attract more foreign investment to Cyprus, which has a population density of up to 1,207,359 people, to buy property on the island when there are no other options, such as buying property. B. Establish a business registry or deposit in a bank on the island.

The scheme stipulates that any foreign investor who is not an EU citizen can apply to the Greek Cypriot government for citizenship, which is granted to women and children under the age of 18, and to sons and daughters aged 18 to 28. From the second age group onwards, they must be fully financially secure, at the applicant's (parent's) expense, and study full-time.

As for the value of the naturalization program, court costs aside, real estate investments start at 2 million euros, in addition to cash donations to support R&D research by the government (any other authorized innovation agency) or to government land development organizations Not less than EUR 150,000 in value.

The period of obtaining a Cypriot passport can vary from 6 to 8 months, during which time the documents for obtaining Greek Cypriot citizenship will be reviewed to determine the applicant's legal documents.

While the fees do not end there, foreign investors are also required to pay an additional fee ranging from 40,000 to 45,000 Euros for the legal processing of the application by an exclusive legal representative appointed by the Cyprus government for the foreign investor to detect any parties to avoid counterfeiting or legal fraud.

Benefits of Cyprus Citizenship

Perhaps one of the most satisfying advantages and benefits of obtaining Greek Cypriot citizenship is unrestricted access to many countries in the world, which includes more than 175 countries and territories, including the European Union, the United Kingdom, Canada, and Russia. But on the other side of the equation, are there no other significant benefits compared to the high investment value imposed by getting a pass, which brings us to the important question of comparison? Is the one pass worth the great value? Are there valuable and less competitive alternatives in terms of benefits and features? And most importantly: what are your investment prospects?

Turkish Citizenship Program for Foreign Investors

The Turkish Citizenship Program for Foreign Investors offers foreign businessmen many investment opportunities, beneficial to both parties, the foreign investor and the Turkish government, perhaps the most important feature of the program is the competitive value of the investment, starting from US$ 400,000, as we all know, since The value of the Turkish project had never previously exceeded $250,000 since the decision came into effect in mid-summer 2018.

The Turkish Citizenship Program offers many investment opportunities, including real estate investment, establishment of a business registry or bank deposits, without additional payments and fees in the form of donations to the Turkish government or any of its institutions.

However, in addition to the Turkish legal representative, the additional cost of the corresponding government fees for paper transactions does not exceed 5000 US dollars, totaling not more than 405,000 US dollars, in the shadow of Turkish investment, foreign investors will be able to find Turks to obtain citizenship, and grant it to the wife and children under the age of 18 for a maximum period of 3 months from the date of application.

Turkish Economy

Turkey is one of the most important economies in the world and has been an influential partner in the G20 for the past 10 years, ranking ninth among strong economies because Turkey simply refuses to be a consumer, but instead, Become the world's largest exporter, and last year's exports finally surpassed that of the United States and China.

Turkey's economy is built on the foundation of numerous solid industries that have grown tremendously thanks to a strong infrastructure including more than 60 airports, 48 ​​ports and a logistics base, as well as a strategic location at the center of the world economy . As well as the Turkish labor force, which also ranks first in Europe in terms of efficiency and numbers.

In addition to the real estate and construction industry, the market value of this industry has increased by more than 600% in the past ten years, and it has attracted people from more than 40 different countries to invest in the real estate industry internationally, and the activities of foreigners have never been noticed. It is not limited to the process of buying and selling , also includes urban development and large-scale residential and commercial projects such as:

Luxurious Emirates Emaar Company, Rotana, prestigious Emirates hotel brand, Saudi Zamil Construction and Development Company and many others have provided huge financial contributions of no less than US$5-10 billion in the last 5 years.

In other words, Turkey, with a population density of more than 86 million, can give you the freedom of family you want, but also increase your paid-up capital five times, not exceeding 500,000 US dollars, which is similar to the naturalization program for foreigners in Cyprus, Greece, The value of each application exceeds €2 million.

At the same time, the Cyprus government has weak infrastructure, a weak economy, and a huge national debt owed to the central bank of more than 20 billion euros.

For this reason, the European Union recently announced that the Serbian government should repay its debts as soon as possible, otherwise such a heavy economic responsibility will fall on the shoulders of the European Union.

In addition, trade union representatives expressed dissatisfaction with the failure to come up with an effective government plan to improve and develop the country's economy, which would eventually lead to Cyprus' withdrawal from the union, which is why the Cypriot passport would be useless.

Finally, we try to provide you with a rational comparison between the two programs on the basis of providing realistic data and economic facts, so that foreign investors can choose the most suitable naturalization program for them and their families.

For more information on other naturalization programs or legal details regarding Turkish citizenship for foreign investors, please contact us, the Property Superiors team will strive to provide you with all the knowledge, because you deserve the best.