"Citizenship by Investment" will soon be available only in Turkey

"Citizenship by Investment" will soon be available only in Turkey

The possibility of obtaining a passport of a citizen of another state by buying a home and bypassing a residence permit for Russians from April will remain, in fact, only in Turkey.

 

Until March 31, 2023, Grenada also provides such an opportunity to citizens of the Russian Federation. Representatives of the Grenada real estate market clarified that it is still possible to "jump into the last car" if you have time to sign a real estate purchase and sale agreement and present documents confirming the payment of at least an advance payment for housing. However, from April 1, this option will not be available to our compatriots.

 

So, Turkey remains the only available option for "citizenship by investment" for this period of time. But it is not known for sure how long it will operate, and under what conditions: every now and then there is talk of raising the financial qualification for obtaining a Turkish passport. That is, the current amount of $400,000 may grow, according to one version, up to $1 million.

 

Recall that it is not necessary to purchase housing in the Republic of Turkey for this amount in order to get a chance for citizenship: you can buy residential real estate from $75,000 in "open" areas, that is, available for obtaining a residence permit by TAPU: read about the interactive map of such areas here. 

 

Further, after living in Turkey for 5 years, you can apply for citizenship by right of ownership. Many people get such citizenship; but it must be remembered that you need to stay in Turkey most of the time out of these 5 years, while a residence permit does not give you the right to work. Thus, you need to take care of either remote income or obtaining a Turkish work visa.

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