Property Sales to Foreigners in Turkey Surge 92% in 2019, Bolstered by Citizenship Program, VAT-Exemption

The booming trend of foreign investment in Turkish real estate continues. Figures for 2018 show a 78.4% increase on 2017, with 39,663 properties sold to foreigners, compared to 22,234 in 2017. The Turkish Statistical Institute (Turkstat) shows that property sales to foreigners in February 2019 increased by a whopping 92.1% compared to the same month

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Con Artists Swindle Thousands in Istanbul for Fake Montenegro Passports

“They were asking people to pay between 7,000 and 12,000 euros for this so-called Montenegrin citizenship,” said Akkan Suver, Montenegro’s honorary consul general to Istanbul, according to Daily Sabah. He explained that the fraudsters had opened a consulting agency office near the official consulate building on the European side of Istanbul, as well as a variety

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Price of Turkey’s Citizenship by Investment Program Cut to $250,000

According to an Official Gazette (in Turkish), new prices are now in effect for the Turkey citizenship by investment program.  The minimum investment necessary to qualify for citizenship is now US$250,000, down by three quarters from the initial minimum requirement of $1 million. Investors may choose from a variety of options, including real estate, bank deposits,

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A History of Citizenship by Investment – Infographic

From Saint Kitts & Nevis in 1984 to Jordan, Moldova, and Montenegro in 2018; we’ve made a step-by-step guide to the history of citizenship by investment programs. The infographic, originally published in June 2017, has been updated to reflect the new citizenship by investment programs in Moldova, Montenegro, and Jordan. We’ve also expanded it to include

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Bowing to Market Forces: Turkey to Cut CIP-Price From $1 Million to $300,000

Having at first wildly overestimated the relative value of its nationality, Turkey now appears to have come to terms with market realities and is poised to drastically cut the asking price for its citizenship by investment program (CIP). First launching in 2016 at a starting price of US$1 million for real estate investments with a

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Greek Golden Visa Raises €1.5 Billion; On Track for Record Year Driven by Chinese Interest

At 2,079 cumulative Golden Visa issuances from 2013 to October this year, Greece is the third most popular residence by investment option in Europe, surpassed only by Portugal and Spain. According to Minister of Economy and Growth, Dimitris Papadimitriou, the program has helped raise €1.5 billion so far, a number he expects to grow significantly over the

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Turks Realize Their Citizenship is Overpriced, Plan to Cut Investment Requirements

After announcing to great fanfare last year that Turkish citizenship would be available to foreigners who bought and held real estate worth at least US$ 1 million for three years, Turkey’s Interior Ministry has announced that they are “rethinking” the program and will consider a drastic reduction in the investment requirement. In 2016, the government

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