The End of the Popular Turkish Citizenship by Investment Program
The Turkish Citizenship by Investment (CBI) program has been a popular and straightforward route to acquiring Turkish citizenship. It has attracted a vast number of international investors, thanks to its simple process and competitive investment requirements. However, the program is now coming to an end, with significant changes on the horizon.
The Evolution of the Turkish CBI Program
Before December 2018, the minimum investment required for the Turkish Citizenship by Investment program was set at $1 million. However, in an effort to attract more foreign investors, the Turkish government reduced this amount to $250,000. This move triggered a surge of interest from global investors, especially in the real estate market, as it provided an affordable entry point to secure citizenship.
The reduced price made the program highly appealing, and many took advantage of the opportunity to invest in Turkish real estate. However, as foreign demand grew, the availability of properties began to shrink, and prices soared rapidly. The government responded to the increasing demand by raising the investment threshold to $400,000 in June 2022.
Political Shifts and the Future of the Program
The future of the Turkish Citizenship by Investment program now faces significant uncertainty, especially with Turkey’s upcoming elections on May 14, 2023. Opposition leaders have already announced plans to abolish the program if they come to power. This announcement has left many investors and potential applicants concerned about the program’s future.
In recent years, we’ve seen similar changes worldwide, with other golden visa programs either being terminated or having their investment amounts increased, as countries adjust their policies to balance economic growth with citizenship demands.
Latest Updates from Gokhan Özbek
In this vlog, Gökhan Özbek, the General Manager of Turk Citizen, shares the latest updates on the Turkish CBI program. He explains the market’s current situation, upcoming political developments, and what potential investors can expect. Whether you are considering applying or simply want to stay informed about the changes, Gökhan provides valuable insights into the future of the Turkish CBI program.
Conclusion
The Turkish Citizenship by Investment program, once an easy and affordable way to secure Turkish citizenship, is now at a critical juncture. With the upcoming elections and shifting policies, it’s essential for investors to understand the current landscape and make informed decisions. Keep an eye on this space, as the Turkish government’s actions in the coming months will likely shape the future of the CBI program.
