Turkish Citizenship By Investment (TCBI) is an immigrant investor program launched in January, 2017.[1] Participants are required to either purchase real estate worth at least US$400,000 and hold it for 3 years, or to deposit US$500,000 in a bank in Turkey (or invest in bonds, fixed capital contributions, etc.) for a period of 3 years.[2] Upon investing as above and duly submitting citizenship application, a Turkish passport is typically granted in several months or up to a year.[3] As of 2015, approximately one quarter of all nation-states issued such "golden visas,[4] of which approximately half as of 2023 were Turkish.[5] It is the most popular such program in the world.[6]
In October 2024 the opposition İYİ Parti (Good Party) filed lawsuits to revoke such citizenships, claiming an existential demographic crisis for Turkey, there being at least half a million citizens under the program.[7]
See also
References
- ^ "Turkey Citizenship by Investment Program". Henley & Partners.
- ^ "Turkish Citizenship By Investment 2024 - Pi Legal Consultancy". August 10, 2024.
- ^ "Turkey Citizenship by Investment: Your 3 Step Guide (2025)". January 1, 2025.
- ^ "IMF Working Paper, WP/15/93, Too Much of a Good Thing?: Prudent Management of Inflows under Economic Citizenship Programs, by Xin Xu, Ahmed El-Ashram and Judith Gold" (PDF). Archived (PDF) from the original on 28 October 2019. Retrieved 23 July 2019.
- ^ "The peculiar world of golden passports". Economist Espresso. 18 September 2023.
- ^ Insider, Investment Migration. "The Turkey Citizenship by Investment Program". IMI - Investment Migration Insider.
- ^ Abbas, Ahmad; Insider, Investment Migration (October 3, 2024). "Turkish Opposition Seeks to Revoke CBI Citizenships, of Which They Claim There Are "At Least Half a Million"". IMI - Investment Migration Insider.
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