In today’s globalized world, wealthy individuals are increasingly seeking second citizenship as a backup plan. Factors such as better education, improved healthcare, climate crises, and visa difficulties are driving this trend. Among the top destinations for second citizenship, Turkey has emerged as a leading choice, ranking in the top 5 for citizenship demand.
The Rising Demand for Second Citizenship
The demand for second citizenship, particularly among high-net-worth individuals, is growing rapidly. According to data from Henley & Partners Turkey, a leading consultancy in the citizenship-by-investment sector, Turks are the third most active nationality seeking alternative citizenship.
Burak Demirel, Director of Henley & Partners Turkey, recently shared insights with journalists ahead of the Wealth Protection Seminar. He explained, “Our clients primarily invest in real estate to secure second citizenship, enabling easier global travel. Given Turkey’s well-known visa challenges, this demand is particularly high among the country’s affluent population. The number of millionaires in Turkey has surged by 45%, leading to a corresponding increase in applications for alternative citizenships. This growth has been so significant that our Turkish office, which previously operated under the London branch, is now a standalone entity.”
Why the Wealthy Want a “Plan B”
Demirel highlighted that the global elite are increasingly seeking alternative citizenships as a safety net. “The demand for second citizenship is rising even in Europe. People worldwide are looking for a ‘Plan B.’ Turkey is also a popular destination, especially among Asian countries like China. However, security remains a critical factor. Citizenship is not granted for criminal purposes, such as money laundering or organized crime. While most countries conduct thorough security checks before granting citizenship, Turkey currently grants citizenship first and then performs security investigations.”
He also emphasized the lack of standardization in the citizenship consultancy sector. “For instance, if we find an application suspicious, we reject it. However, since there are many players in this field, the applicant can simply approach another firm to complete the process.”
Education, Health, and Climate Drive the Trend
Dominic Volek, Chairman and Board Member of Henley & Partners Private Client Group, added that clients seek second citizenship for various reasons, including better education, improved healthcare, climate resilience, tax advantages, and visa-free travel. “2024 has been a record year for the movement of high-net-worth individuals, with activity levels returning to pre-Covid numbers. Countries like the United Arab Emirates, the USA, India, Vietnam, China, and Singapore are among the top destinations for migration.”
Why Turkey?
Turkey’s strategic location, affordable real estate investment options, and straightforward citizenship process make it an attractive choice for wealthy individuals. The country’s citizenship-by-investment program allows investors to obtain a Turkish passport by purchasing property worth a minimum of $400,000, making it one of the most accessible routes to second citizenship.
Conclusion
As the world becomes more unpredictable, second citizenship offers a valuable safety net for the wealthy. Turkey’s growing popularity as a destination for alternative citizenship reflects its unique advantages. Whether for education, healthcare, or global mobility, securing a second passport is no longer a luxury but a necessity for many high-net-worth individuals.Turkish citizenship
