Do you find yourself looking overseas for a new place to call home?
Well, in today’s video we’ll explore 2 nations on opposite sides of the globe offering residency by investment programs, characterised by their high quality of life and low cost of living, and hopefully helping you make a decision on which country you’ll soon be calling home.
To make the most of this opportunity, there are two principal choices in terms of the countries you have to decide between. Let's see what they are all about in some more depth.
Peru
Peru is found in the western portion of Latin America, bordered by Colombia, Brazil, Bolivia, Chile and Ecuador, meaning you’re never far away from another location to explore. The nation has coastline on the Pacific Ocean, as well as mountainous and rainforest areas, the diversity of which makes for an idyllic climate and an abundance of wilderness to adventure within.
More practically speaking, Peru is open to authorising a renewable 1-year inversionista residency, this means your investment must be used to establish or invest in a business, so it creates a mutually beneficial environment where you can live while on your journey to citizenship, and the local Peruvian region you invest in benefits from the service you’re bringing there.
If you’re interested in finding out more, these are the requirements:
1. Invest the equivalent of 500,000 Peruvian Sol (roughly US$130,000) either into a pre-existing business in Peru or establish a new business with the same capital injection
2. No nationality is banned from applying, opening this up to all of you reading, an exciting prospect in a world where restrictions have been governing whatever we do for quite some time now. The money you invest has to come from your bank account and do not be surprised if you’re asked to show a business plan, verification is important and no different in Peru
It is also important to mention that you’re going to need to show proof of cash investment, your passport and Interpol Redemption card, as well as a feasibility study if you’re investing in a recently established company or business plan if you are establishing one yourself.
Now we’ve got this covered, you’re going to want to know what benefits are in store for you, we’ll have more on this in a little while.
Turkey
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 there is a large choice for relocation in terms of towns and cities on offer.
The programme began in 2016 and since then has opened up the pathway to residency for investors across the world, and if you are intrigued, these are the steps:
1. Invest US$250,000 in real estate
2. Invest at least US$500,000 as a fixed capital contribution
3. Deposit US$500,000 into a Turkish bank account
4. Pledge US$500,000 into government bonds
5. US$500,000 into a real estate investment fund share or venture capital investment fund share
6. Create 50 jobs as proven by the Ministry of Family, Labour and Social Services
Once you have decided on the option you wish to follow, you will need to open a Turkish bank account, fill in application forms and have them translated. This then leads to a 6-month maximum review period in which you may have to complete an interview.
If successful, you will be granted your citizenship papers and then can get underway with your passport application form.
So, which country is for me?
While we’ve established the basis for choosing these programs is to obtain a high quality of life at a low cost of living, there are distinctions between both of them that may make them better suited to different people.
For instance, after only two years of living in Peru, citizenship becomes available, and only 183 days of the calendar year need to be spent actually in Peru for it to count as a year of residency, so for those of you not wanting to fully relocate, this option could be perfect.
Also, once you have the passport, you get access to 138 countries, including the EU, without the need for a visa, an extra incentive if you’re an investor whose passport is currently restricted and requires visas for many travel destinations.
On the other hand, in Turkey, there is the potential for a residency application to the United States through the E-2 Visa treaty, it is also a short application process, done in 2 to 3 months with lifetime citizenship available after 6 months. So, contrasting Peru, Turkey seems a great choice if you’re looking to move overseas quickly.
Additionally, it is very likely that Turkish passport holders will soon be granted visa free access to the EU Schengen area as well as 125 other countries across the globe already permitted, putting the passport roughly on par with that of Peru.
So, if you are interested in finding out more about how you can invest in residency overseas and transform your quality of life, as well as 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.
Also, if you want to access our other great content, subscribe to our YouTube channel! At Creimerman, our team of professional global citizens would be happy to help you with your personal or professional cross-border ventures and help make them a success.