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HF Corporation welcomes the amendments to Turkish Citizenship by Investment Program.

12-20-2018 12:58 PM CET | Industry, Real Estate & Construction

Press release from: HF Corporation

Global Citizenship Advisors

Global Citizenship Advisors

Turkey, a member state of NATO, G20 and a founding member of OECD, acts as a natural bridge between East-West and North-South axes. In January 2017, Turkish government announced its citizenship-by-investment program that allows eligible investors to acquire Turkish citizenship on making qualified investments in the country. On 18 September, 2018, the respective law (501:46) was amended, thereby, reducing the investment requirements in order to make the program even more attractive to the investors. Turkey is, by far, the largest and the most diversified economy among all the countries that offer citizenship-by-investment. Over the past 15 years, Turkey has put in a noteworthy performance by tripling its overall economy from USD 236 billion in 2002 to USD 851 billion in 2017. Turkey's performance in economic development saw its income per capita triple, from USD 3,581 in 2002 to USD 10,597 in 2017.

Turkey offer multiple qualifying investment routes under its citizenship program. The investors need to choose only one of the following options:

1- Investment of USD 250,000, or equivalent in Turkish Liras, in real estate for a period of three (3) years;

2- Capital investment of USD 500,000, or equivalent in Turkish Liras;

3- Fixed deposit of USD 500,000, or equivalent in Turkish Liras, in the banks operating in Turkey for a period of three (3) years;

4- Purchase of State Debt Instruments of USD 500,000, or equivalent, to be kept for a period of three (3) years;

5- Creation of Employment for at least fifty (50) people.

''HF Corporation welcomes the recent amendments to the Turkish citizenship-by-investment program. Turkey is one of the fastest growing economies among the OCED countries. It is also one of the most promising real estate markets in Eastern Europe,’’ said Dr. Hussain Farooq, President and CEO of HF Corporation, a citizenship advisory firm which advises its discerning clientele on the global citizenship programs and constantly monitors the development of such programs around the globe, in addition to publishing one of the most comprehensive rankings of citizenship programs.

‘’The unique geographical location of the country, great ease of doing business, presence of economic free zones coupled with its custom union agreements with the EU and other European countries make Turkey an attractive place for both living and doing business. The growing real estate sector presents great opportunities for individual investors as well as real estate groups. Number of houses sold to foreigners have seen a year-on-year increase of approximately 22% in 2017. The citizenship-by-investment program of Turkey can be an attractive proposition to investors from the Middle East and Pakistan who are looking to diversify their assets in line with their residence and citizenship strategies,’’ concluded Dr. Farooq.

HF Corporation is a citizenship- and investment-advisory firm which, on one side, advises high net worth individuals on acquisition of second citizenship and residence, by way of citizenship-by-investment; while on the other hand it runs a governments advisory practice that liaises with different governments to build up strategies that could help in bolstering foreign direct investment, in their respective countries, through (re)structuring and promotion of such programs.

HF Corporation
31, A1, Johar Town, Lahore, 54000.

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