Legalixa Law Firm is a full service Turkish Immigration Law Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish citizenship attorneys are ready to assist you to file applications for Citizenship and Permanent Residency Opportunities. Our Turkish citizenship lawyers represent our clients from application until they get their Turkish Passport. Our Turkish immigration lawyers also represent our clients in other immigration law issues including; extending resident and work permits, application for Turkish citizenship, filing a law suit to cancel any objections.
Numerous countries offer citizenship and permanent residency possibilities to the foreign entrepreneurs who make investments at certain amounts. Especially in the recent years, number of countries offering citizenship and permanent residence permit to foreign investors has increased owing to the increasing number of applications and requests.
Due to the financial changes and bottleneck as a result of the financial crisis in 2008, many countries in the European Union, USA, Canada, Caribbean countries have introduced citizenship by investment and permanent residency programs in order to attract investors’ interest. Bulgaria, Malta, Portugal, Cyprus, Greece and Antigua&Barbuda offer citizenship or permanent residence permit by investment programs. When the statistics are considered, it may be seen that most of investors prefer the citizenship or residence permit programs offered by European Union countries.
Citizenship and Permanent Residency Opportunities
Some of these countries allow dual citizenship. Therefore, investors and their family members may keep their citizenship by birth and benefit from the possibilities of having two passports.
Cyprus, as a member of the European Union since 2004 and a part of Schengen area countries since 2008, offers the opportunity of Cypriot citizenship within the frame of the Citizenship by Investment Program which was launched in 2012. High life standards, a good health system, suitable climate, natural beauties, tax advantages as well as a modern free market based economy have been attracting the investors’ interest in Cyprus since then. For Cypriot citizenship application, the investors have different options which may be analyzed in two categories as individual and collective investment scheme.
The minimum investment amount in individual investment scheme is EUR 5.000.000 whereas this amount is reduced to EUR 2.500.000 in collective investment scheme.
Individual investment scheme criteria are as follows;
- Purchase of Cyprus government bonds in the amount of at least EUR 5.000.000,
- Real estate investment in Cyprus in an amount of at least EUR 5.000.000,
- Purchase of financial assets of Cypriot companies or organizations in an amount of at least EUR 5.000.000,
- Deposit of at least EUR 5.000.000 at a local bank for minimum three years,
- Investment in companies established and operating in Cyprus in an amount of at least EUR 5.000.000 (in such a case, employing at least 5 Cyprus citizens is obligated)
- Combination of above mentioned criteria (in this event, the minimum investment amount is EUR 5.000.000)
Above mentioned individual investment scheme is also valid for collective investment scheme, where the minimum investment amount is EUR 2.500.000. The total investment amount in which the investor is included shall be at least EUR 12.500.000.
Investor is obligated to fulfill one of the above mentioned investment criteria and he/she shall prove that he/she has no criminal records and possesses a permanent residence permit in Cyprus in an amount of at least EUR 500.000.
Along with the above mentioned criteria, Citizenship by Investment Program for Cyprus is the program granting citizenship within the shortest time period of three months.
Golden Visa Program for Portugal is the permanent residence permit program most preferred by investors. This program was introduced by the Portugal Government in 2012 and it has attracted numerous investors’ interest in Portugal. The scope of the Golden Visa Program for Portugal is procurance of permanent residence permit for investors and their family members when legal conditions are met. Some of these conditions are as below;
- Capital transfer in an amount of at least EUR 1.000.000,
- The acquisition of real estate for refurbishment located in specific areas with a minimum value of EUR 350,000 or purchase of any other kind of real estate with a minimum value of EUR 500,000,
- EUR 250,000 donation to artistic and national cultural heritage institutions,
- The creation of at least 10 new jobs registered with the social security department,
- Keeping the investment for at least 5 years,
- Having a valid Schengen visa for entry in Portugal,
- Having no criminal record.
Apart from the above mentioned investment conditions, the applicant shall submit all documents required for the application.
There are many benefits of having Golden Visa for Portugal;
- The applicant shall be present in Portugal for only 35 days within a five years period,
- Golden Visa holders are entitled to travel to all other Schengen countries without a visa,
- There are numerous investment options provided to the investors,
- Golden Visa holders may apply for a citizenship after a residency in Portugal for six years,
- The residence permit applications are concluded in a short time of 3 to 8 months.
Thanks to the above mentioned citizenship and residence permit programs, many investors obtain the possibility to live, work, study in the relevant country as well as to benefit from its health and living standards in addition to other possibilities. Therefore, it is essential to examine if the benefits of a program comply with the investor’s expectations before deciding and to determine the most appropriate program as well as investment option for the investor in order to prevent time and financial loss by searching different investment options.
Legalixa is one of the leading Turkish immigration law firm advising on Citizenship and Permanent Residency Opportunities. Please contact us for further details on Citizenship and Permanent Residency Opportunities for investors.
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Since its foundation in 1992, Legalixa Turkish Law Firm has been the choice of numerous clients in Istanbul, Turkey. Thanks to its nationally recognized Turkish immigration law practice, our firm is now one of the leading immigration law firms in Istanbul, Turkey. You may reach our Turkish immigration lawyers for Citizenship and Permanent Residency Opportunities by sending an email or through Contact page.