Jordan and Turkey: 2 Middle Eastern residency by investment programs to keep an eye out for in 2023
Are you looking to expand your real estate portfolio this year?
What is residency by investment? In short, you are able to fast track visa processes and times to citizenship in a number of countries across almost every continent in the world.
How? By making an investment! This either comes in the form of a donation, real estate acquisition, or through business investment, following which you receive a visa which is typically renewable and grants you residency in the nation where you made your initial investment.
Situated in the northern Arabian Peninsula, Jordan is a country that is not typically at the forefront of people’s minds when it comes to citizenship by investment.
However, as we regularly like to do on our blog, we’re going to share the important details you need to know about the program on offer in Jordan and hopefully see it climb its way up your list of candidates for potential relocation.
An independent state since 1946, Jordan is still relatively young in comparison with some of the other countries we have covered on our blog, yet this does not mean that the country has any less to offer!
There is something for everyone, if you are an adventurer looking to explore, maybe the city of Petra, one of the wonders of the world, could be an incentive to make the move. Or, if you are looking to venture further afield, Saudi Arabia and Israel are close by, two nations with vastly diverse sights and cuisines to take in.
The capital city is Amman, situated in the hills and also the home to the monarchy. The official language in Jordan is Arabic, though considering the location and opportunity for business and investment within the nation, it is no surprise that English is spoken in places too, meaning the language barrier should not pose too much of a problem!
Am I eligible to apply?
In order to get your passport, you’ll need to complete one of the following three investment ventures:
1. Bank deposit and treasury bonds: This option is expensive, requiring a US$1 million deposit in the Central bank of Jordan for three years and a further US$1 million in treasury bonds held for six years
2. Company shares: US$1.5 million in company shares for a three-year minimum period
3. Small/medium business enterprise: US$1 million (US$750,000 outside capital of Amman) in an investment project which creates 20 jobs minimum
Once you have decided on one of these, the standard procedures follow. Starting with an application form, you will have to send relevant fees and documentation. At this stage your eligibility will be determined, and you’ll have to prove your financial solvency.
Next, due diligence checks take place, and you choose your investment pathway from the options above. Once cleared, within three months the passport will be in your hands!
Turkey is located half in Europe and half in Asia, making its geographical status quite interesting as the dual occupation of continents isn’t something we see every day.
The eastern Mediterranean nation bisects numerous regions including the Balkans and Middle East and is actually quite large in terms of land mass, meaning that as far as citizenship by investment goes, the choice of relocation for towns and cities is much larger than in some of the other island nations we’ve explored previously.
Turkey offers one of the best citizenship by investment programs worldwide.With a minimum investment of $500,000, you and all your dependents under 18 can get Turkish citizenship in four months.Turkey also offers free public secondary education making it an excellent place for families with kids.
Turkish citizenship by investment is one the easiest ways to obtain a second passport out there, with even easier rules to attract foreign direct investment. Ever since January 2017, you can basically buy your way to Turkish citizenship.
Am I eligible to apply?
To qualify for citizenship, you should fulfil one of the following investment requirements:
Acquire at least USD 400,000 worth of real estate
Invest a minimum of USD 500,000 fixed capital contribution
Deposit at least USD 500,000 or equivalent foreign currency or Turkish lira into a Turkish bank account
Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into government bonds
Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into real estate investment fund share or venture capital investment fund share
Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into a private pension system for a minimum holding period of three years
Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services
So, which program is for me?
An integral element of any investment of this kind is the list of knock-on benefits that come about as a result of it. In the case of Jordan, said list may seen rather short, but the depth of the benefits are extremely competitive and attractive. You can see some of them below:
- Visa-free travel to 52 countries
- Citizenship is extended to partners, children and dependent parents
- The nation is stable and you have peace of mind that your investment is secure
On the other hand, in Turkey’s case, the benefits include:
- Visa-free access to 110 destinations including Hong Kong, Japan, and Singapore
- Good quality of life: Citizenship of a country that enjoys a mild Mediterranean climate, beautiful scenery, and a high standard of living
- Family friendly: Full citizenship granted to the applicant and included family members (spouse and dependent children below the age of 18, and children of any age who are living with disabilities)
- Access to e-2 investor visa in the USA: Eligibility for an E-2 Investor Visa in the USA for a five-year renewable period
So, if you are interested in finding out more about the residency by investment programs we've covered today, and other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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