Programs Becoming “Prohibitively Expensive and Increasingly Irrelevant”: 10 On The Weekend With Ömer Kahraman

10 On The Weekend is a weekly (-ish) feature in IMI, the concept of which is simple: Each time, we ask the same ten questions of a different IMI Pro, letting readers get to know the interviewee on a more personal and informal level than they might during the ordinary course of business.

Our guest this week is Ömer Kahraman, Partner at InvestGC

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How do you spend your weekends?

During the weekend, I like to wrap up the week and start organizing next week’s work plan.

I also like to tackle ongoing problems or obstacles during the weekend. Finding solutions to lingering problems is easier when you have time to think, and the weekend provides me that opportunity.

Finally, I like to engage in sales and process forecasting.

What are your top three business goals this year?

My first objective is to streamline our Greece Golden Visa operation, enabling us to provide seamless service to many of the industry’s companies and clients. 

This service will encompass a wide range of exclusive projects, offering profitability and easy accessibility at a reasonable cost, effectively addressing the stereotypical challenges associated with the Greece Golden Visa program.

My second objective is to broaden the exclusive company offerings for the Latvia Golden Visa program, thereby providing a more comprehensive service to clients.

The third objective is one I’ve been planning for some time: Creating our exclusive citizenship by investment program. We want to develop a modern, pertinent program as opposed to many existing programs that have become irrelevant in the current market.

What’s your biggest business concern right now?

The existing citizenship and residency by investment programs are becoming prohibitively expensive and increasingly irrelevant, to the extent that clients may lose interest in them due to the diminishing value proposition. 

A dearth of new, innovative alternative solutions entering the market to cater to the evolving needs and preferences of investors seeking such programs compounds my concerns. 

The lack of fresh options and the escalating costs of established programs pose a significant threat to the industry’s ability to attract and retain clients effectively.

Which book is on your nightstand right now?

Leadership by Henry Kissinger

How and when did you first get into the investment migration industry?

In 2017, my brother and I ventured into the investment migration industry. Initially, it was a simple business idea – providing investment advisory services to Turkish individuals seeking opportunities abroad. 

However, when the Turkish citizenship by investment program lowered its investment threshold to $250k, we made a calculated decision to become service providers for foreign companies facilitating Turkish citizenship. 

This decision propelled our growth, and nearly 7-8 years later, we have expanded our operations to offer similar services across various countries and programs.

What was your proudest moment as a service provider?

My proudest moment in this business was securing our first citizenship approval for a client in 2018.

Which investment migration market development has surprised you the most in the last year?

We were surprised by the Caribbean citizenship by investment programs’ prolonged resistance to the European Union’s demands. 

These programs took a steadfast approach, maintaining their stance over an extended period despite external pressures. This stance was particularly noteworthy given the Caribbean governments’ simultaneous navigation of demands from another major superpower, the United States, and the escalating political pressures introduced by the EU. 

Their ability to sustain this stance for a considerable duration was surprising.

If you could go ten years back in time, what business decision would you change?

I would take a more comprehensive RCBI approach instead of only providing Turkish citizenship by investment program services.

What investment migration industry personality do you most admire?

I admire the professionalism and work of Christian Kaelin.

If all goes according to plan, what will you be doing five years from now?

Me and my team will be offering our firm’s exclusive citizenship by investment program to clients worldwide.