Why gain residency or citizenship in Europe?
European citizenship offers several potential benefits to Turkish nationals. The Turkish economy has averaged growth of close to 5% over the last 20 years. Many Turks feel that job prospects, career advancement, and certainly salaries are higher in Western Europe.
More affluent Turks also feel that investment opportunities and the potential ROI on those investments may be higher and more secure in the west.
Is tax lower outside Turkey?
The standard of living in many European countries is high. Turkish incomes are lower than in many European markets, and prices are often higher. In the WorldData Quality of Life rankings, Turkey rates outside the top 70 nations in the world. By comparison, many European countries rank amongst the top 20 such as: Spain, Malta, Portugal, Austria, Cyprus and France. Infrastructure is better in many European states, as are the subsidized healthcare and education systems.
How do I get European citizenship?
There are two pathways to European citizenship for Turkish nationals.
The first is Citizenship-by-Ancestry (CBA). Almost all European countries offer some form of CBA program: Austria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom.
Many programs require you to have at least one grandparent who was a citizen of the targeted country, but requirements vary. Proving this and getting the country you want is a lottery of birth, and most Turkish people do not qualify.
The second option is therefore the preferred route for many. This is obtaining residency-by- investment (RBI). In most of the European countries, after a period of legal residency, usually 5 to 7 years, the individual and his family are eligible to apply for citizenship.
What are the most popular European Residency-by-Investment Programs?
The most popular RBI programs are those of Malta, Greece, and Portugal, as well as Spain and Cyprus. Notably, 4 of these 5 are in the top 20 countries in the world for the WorldData quality of life index. The fifth, Greece, is not far outside.
The details of the different options for residency-by-investment or citizenship-by-ancestry in various European jurisdictions can be somewhat overwhelming. For more information on residency-by-investment programs in a summary one-pager, please visit https://harveylawcorporation.com/citizenship-and-residency-programmes/.
For information on citizenship-by-ancestry,
you can visit https://harveylawcorporation.com/citizenship-by-ancestry/ .
If you would like to inquire about residency or citizenship-by-investment in Europe, please email us at [email protected] to schedule a free consultation.
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