By Justin Mays:
Investing in property is one of the most common ways for
investors to protect their wealth and, in a way, fight back against inflation.
Passive income is another reason many opt to invest in real estate. Though, in
today’s modern age, investors no longer need to limit themselves to their own
countries when buying properties for investment. In fact, it has become quite
common for people to go beyond the border, explore different countries, and
understand the dynamics of different real estate markets for property
investment.
Several countries around the globe have created
citizenship-by-property investment schemes to entice foreign buyers to purchase
local properties so they can get foreign investment. In this blog, Prime Property Turkey explains
citizenship by property investment and which countries offer this program.
Let’s dive in!
Citizenship by Property Investment
The citizenship by property investment program involves
countries offering citizenship in exchange for property investment. There is a
set minimum amount for the investment, and any amount less than that cannot
qualify an individual for citizenship. This program offers a chance to
fast-track the citizenship process and passport acquisition.
Some countries have similar programs, which include offering
international investors residence permits in exchange for making a real estate
investment. Ultimately, these programs' main benefit is that they expedite the
citizenship or residence permit acquiring process. In addition, applicants can
get citizenship without even knowing the local language.
Foreign buyers make real estate investments abroad for numerous reasons, whether to start a new life in another country, improve their real estate portfolio, acquire financial security, have a holiday home to enjoy, or obtain rental income.
Countries That Offer Citizenship by Property Investment
Spain, Turkey, Portugal and Malta have the most sought-after
citizenship by investment programs. Every country’s citizenship by property
investment program has different requirements and features different pros and
cons. Affluent people from countries such as China, the Middle East, Russia,
Pakistan, etc., show great interest in such programs.
By acquiring alternative citizenship, investors can reap the
benefits of traveling and living in that country and gain access to that market
for extensive business opportunities.
- Spain offers a citizenship-by-investment program, which
requires an investment of a minimum of €500,000 in real estate and 10 years of
continuous living in the country.
- Portugal requires a minimum of €280,000 of property
investment and 6 years of constant living for investors to acquire
citizenship.
- Malta provides citizenship via real estate investment which
requires the purchase of a property with a minimum value of at least €700,000.
Furthermore, the investor has to hold this property for at least 5 years.
- Greece requires a minimum investment of €250,000 on property and 7 years of continuous living to qualify for Greek citizenship.
Turkey Citizenship by Property Investment
According to the Turkish Citizenship by Investment Program, the applicant must invest a
minimum of USD 400,000 in Turkish real estate to apply for Turkish citizenship
and a passport. Furthermore, the applicant must hold this property for at least
3 years.
You can also browse this investment guide on the invest.gov.tr website to get more details on
acquiring property in Turkey.
Investing in Turkish real estate grants you full ownership
of your property and allows you to obtain rental income.
Furthermore, Turkey also offers residence permits in exchange for a real estate investment of 75000 USD.
Why invest in Turkish property?
Properties in Turkey are made of top-of-the-line materials
and some of the most competitively priced. Buyers have many options, from
luxury real estate to affordable commercial properties. In addition, the
Turkish property portfolio is incredibly dynamic, so investors have a lot to
choose from.
What is the processing time for acquiring Turkish
citizenship?
The processing time for the citizenship application is
anywhere from 3 to 6 months.
We Can Help You!
Prime Property Turkey has expanded its services to assist
its clientele in their search for high-value Turkish properties and help them
apply for Turkish citizenship once the purchase is made.
Our team handles everything from start to finish. So don’t
wait any longer and get your free consultation now.
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