https://tribune.com.

pk/story/1296010/citizenship-investment-want-acquire-
turkish-passport/

Well, here’s your chance to change it. A Turkish passport is up for grabs, but if
you have at least $1 million to spare.

Turkey has recently introduced a programme:

if he or she can buy at least $1 million of real estate, invest at least $2 million or
deposit at least $3 million in a bank account.

Pakistan and Turkey do not have a dual citizenship agreement. In fact, Pakistan
has dual nationality agreement with only 18 countries, according to the website
of Directorate General of Immigration and Passports, Ministry of Interior,
Pakistan.

Historically, English-speaking countries like the UK, Canada and the US have
served as popular destinations for high net-worth individuals and professionals
mainly due to Pakistan’s dual nationality agreement with these nations.

Arguments against

One major drawback is that Pakistanis would have to surrender their green
passport, which is not the case with any of the English speaking countries. This
serves as a possible barrier for anyone who has strong roots in Pakistan.

“I don’t think any businessman will go to Turkey from Lahore or Punjab,”

Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit
commented.

According to the Henley & Partners Visa Restrictions Index 2016, which
annually issues global ranking of countries in respect to the travel freedom,
Germany tops the list as its citizens can travel to 177 countries out of 218
territories without any visa requirement.

Turkish passport ranks in the middle of the list at 51 while Pakistan is at the
bottom (ranked 103) with Afghanistan (104) in the list of 104 countries.
Speaking purely on travelling experience, the case of Turkish and Pakistani
passport is similar compared to a green passport with any industrialised
country. With Turkish passport, just like Pakistan, you need a visa to visit any
English speaking country. What’s the point then?

It is still unclear when Turkey will get the membership of the European Union
(EU), which can be a big factor why anybody would love to get Turkish
passport, he added.

Pakistanis can opt for Turkish passport for $1 million,” a Karachi-based leading
immigration consultancy firm CEO commented on condition of anonymity.

Immigration consultants say the minimum limit of $1 million that the Turkish
government has put forward is not too much to deter high net worth Pakistanis.
They say few hundred Pakistani families have acquired the citizenship of Malta
and other such smaller states so they can also take an interest in Turkey.

Until the end of 2015, Turkey had the fastest rising house prices in the world,
according to Knight Frank’s Global House Price Index that tracks the
performance of over 50 mainstream national housing markets around the
world. But growing number of terrorist attacks and declining number of
tourists in Turkey have cast a shadow on the country’s economy as well as
property prices.
https://citizenshipreporter.com/turkey-lower-price-tag-citizenship-
investment/

By Seth Barnham on April 15, 2018

Ankara has decided to slash investment amounts required for its investment migration program
after a disappointing inaugural year. Turkey’s new CBI program went into effect last January,
offering foreign nationals Turkish citizenship in exchange for purchasing property worth $1
million USD or more.

However, the promise of Turkish citizenship has failed to bring in anything close to the
ambitious target of $10 billion USD within the first year. According to Central Bank data, real
estate investment from foreign sources saw only a modest increase of $750 million USD,
totaling $4.64 billion USD as of January 2018.

The amendment to the program would align more appropriately with foreign buying habits in
Turkey’s real estate market and is expected to pass. Feyzullah Yetgin, head of the Association
of Real Estate and Real Estate Investment Companies (GYODER), voiced his optimism on the
proposed decrease:

“The move would help significantly both the Turkish economy and the real estate sector. Homes
worth $1 million and more account for only 2-3% of the market. Our surveys indicate foreigners
opt [mostly] for homes in the range of $100,000-$300,000.”

A decrease on the required investment amount would also make Turkey’s program more
competitive with other investment migration programs nearby in Europe. While cheaper than
Cyprus’s $2 million USD real estate investment scheme, it will be hard for Turkey to compete
with programs like Greece’s €250,000 scheme. Investors only obtain permanent residency in
return, but freedom of movement throughout the EU and a greater level of political stability
relative to Turkey are big incentives.

In addition to the real estate investment option passed last January, the Turkish government
provides two other avenues for investment in exchange for citizenship. Foreign nationals can
also obtain citizenship by making a fixed capital investment of $2 million USD, keeping a bank
balance of $3 million USD in the country for 3 years, or through investment that creates 100
jobs in Turkey.

It has not yet been determined if these options will also be amended alongside the real estate
investment program in May.
https://citizenshipreporter.com/category/citizenship/cyprus-citizenship/

Editor@TCR March 26, 2018

CYPRUS CITIZENSHIP / FEATURED NEWS

Cyprus Enhances its Citizenship-By-

Investment Program

“It is in the best interest of every host country to welcome

the very best talent and resources to help boost their
economy,” shared Armand Arton, founder and president of Arton Capital.
About Arton Capital
Arton Capital is a Canadian global financial advisory firm specializing in empowering
governments in attracting foreign direct investments, global citizens and in providing strategic
advice to developers and institutional investors reach their sustainable investment goals.

Citizenship by Investment Programs, if executed within the lawful structure of control, are not
only beneficial at enabling global mobility, but effective at optimizing the nation’s growth.