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The Turkish passport is a powerful tool that unlocks a world of possibilities. With it, you can travel visa-free to 72 countries and obtain visas upon arrival in an additional 35 countries. The passport also facilitates easy access to the Schengen region and the United States through C-2 and E-2 visas, respectively. In 2023, the Turkish passport offers visa-free access to 114 countries, including South Korea, Japan, and Singapore, making global travel incredibly convenient.
Key Benefits of a Turkish Passport
- Global Mobility: Travel across continents from Latin America to Asia, and Africa without the hassle of obtaining visas.
- Employment and Residency: Enjoy the freedom to live and work in Turkey without requiring any special authorisation.
- Investment Opportunities: Conduct real estate investments effortlessly and enjoy privileges equivalent to Turkish citizens.
- Social Benefits: Gain access to free education and healthcare services in Turkey.
- Family Planning: Secure Turkish citizenship for your children, ensuring a stable future for your family.
How to obtain a Turkish Passport
Turkey has streamlined the process of acquiring its passport through real estate investments exceeding $500,000. This initiative, in place since 2018, aims to attract foreign investment. Other pathways include descent and naturalisation, offering multiple avenues to secure this valuable asset.
Meet Fazel, A Success Story from Property Turkey’s EcoSystem
Now that you understand the immense value and opportunities that come with a Turkish passport, let's hear from someone who has successfully navigated this journey. Fazel, an investment advisor and portfolio manager, recently acquired Turkish citizenship for himself and his family through Property Turkey. His story serves as a compelling testimony to the benefits and ease of obtaining a Turkish passport through strategic real estate investment. Watch to learn more about Fazel's experience and how you too can unlock a world of opportunities with a Turkish passport.
Fazel's Background and Motivation
Fazel grew up in India and moved to the United States to pursue an MBA in finance and marketing. He was drawn to Turkey for its Islamic culture, peaceful environment, and strategic geographical location. His wife's desire for a cosmopolitan lifestyle also influenced their decision to move to Istanbul. Fazel sees Turkey as a "middle ground" between the vibrant culture of India and the individualistic society of the United States, making it an ideal place for him and his family.
Property Turkey Group's Ecosystem
Fazel praises Property Turkey Group for their comprehensive services, which go beyond real estate. The company offers legal services, property management, construction, design, and even asset management. They have developed systems that make it easy for foreign buyers to navigate the investment process, including custodian accounts for secure money transfers. The company also offers after-sales services and rental management, making it a one-stop-shop for investors.
Investment and Citizenship Process
Fazel recounts his experience of becoming a Turkish citizen through property investment. He had been following Property Turkey Group for months before making initial contact. He put his complete trust in the company, asking them to find a property they would buy for themselves. The result exceeded his expectations, leading him to a two-bedroom, two-bath apartment in a prime urban regeneration zone of Istanbul.
Asset Management and REITs
Property Turkey Group has also ventured into asset management through Real Estate Investment Trusts (REITs). They offer general funds and can even form a REIT specifically tailored to an individual's investment strategy. This approach provides a structured, regulated, audited, and tax-free way of managing assets, appealing to investors like Fazel who are familiar with REITs from other markets.
Cultural Adaptation and Future Plans
Fazel finds adapting to Turkish society easy, especially given his Islamic background. He highly recommends Turkey as an ideal place for people seeking an Islamic environment combined with the freedom to travel and enjoy life. He is looking forward to exploring more of Turkey and working with Property Turkey Group's design team to furnish his new home.
Why Families Like Fazel's Would Want to Invest in Real Estate in Istanbul
Istanbul has undergone a remarkable transformation over the years, becoming a global trade and tourism hub. Its export value reached an astounding $100 billion in 2022, outperforming several countries like Argentina and Portugal. The city's economic prowess doesn't stop at exports; it has also become a magnet for tourism, attracting 16 million tourists in 2022 alone and generating $13.77 billion in tourism revenue.
Economic Growth and Investment Opportunities
Fazel, an investment advisor and portfolio manager, would find Istanbul's booming economy particularly appealing. The city's overall revenue surged by 400% between 2002 and 2023, reaching $287 billion. It's projected to hit $520 billion by 2030, offering a promising landscape for new investments. Istanbul's economic momentum is further highlighted by its purchasing power, which outpaces countries like Sweden and Hong Kong.
Employment and Quality of Life
Istanbul is also Turkey's primary employment hub, offering over 6 million jobs as of 2023. Fazel, who has built a successful career in finance and marketing, would find ample opportunities in Istanbul's robust services sector. The city's strategic geographic location and advancements in transportation make it an ideal place for families like Fazel's who value mobility and a cosmopolitan lifestyle.
Tourism and Cultural Richness
Tourism is another sector where Istanbul shines. The city attracted a record 16 million tourists in 2022, surpassing countries like Israel. For Fazel's family, who were looking for an Islamic environment and a vibrant culture, Istanbul offers a diverse array of attractions and a high quality of life, including exceptional hotel services and tourist-friendly districts like Kagithane and Fatih.
Real Estate Investment
Given these factors, it's no surprise that billions of dollars in foreign capital have flowed into Istanbul's real estate sector. About half of the real estate units acquired by international investors in Turkey are in Istanbul. Fazel's family, who recently became Turkish citizens through property investment, would find Istanbul's real estate market to be a sound investment, especially given the city's ambitious plans for economic and tourism growth.
Families like Fazel's would find Istanbul to be not just a place to call home but also a strategic investment opportunity, thanks to its booming economy, employment prospects, and thriving tourism sector.
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