Turkey's Citizenship by Investment (CBI) program, initially established in 2017 with a $1 million investment threshold, may undergo another alteration. After a reduction to $250,000 and a subsequent rise to $400,000 in 2022, unconfirmed reports suggest a potential increase to $600,000 in 2024.
Arslan Tenha of Tenha Law Firm and Orhan Yavuz Mavioglu of ADMD Law Office both emphasize the speculative nature of these reports, underlining that no official confirmation has been made. Mavioglu notes a recent adjustment in the CBI application fees, with the residency investment threshold raised from $75,000 to $200,000, subtly escalating the program's cost.
The potential increase, however, faces criticism. Tenha argues that amidst declining demand, raising the investment threshold seems impractical. He also suggests that political factors, such as local discontent over perceived low-cost citizenship grants and property price inflation due to foreign investments, might influence the decision.
While Mavioglu acknowledges the potential political motivations, especially with upcoming municipal elections, he remains optimistic about the program's appeal, even at a higher investment level. He predicts no imminent changes and expects a grace period for any new regulations.
In summary, the rumors of Turkey's CBI program's investment threshold increase to $600,000 remain unconfirmed. Pros of this potential change include responding to domestic political pressures and possibly enhancing the perceived value of Turkish citizenship. The cons, however, include reduced program attractiveness amidst already declining demand and the risk of deterring foreign investors due to higher costs. The situation remains fluid, with official confirmation and details yet to be announced.
Arslan Tenha of Tenha Law Firm and Orhan Yavuz Mavioglu of ADMD Law Office both emphasize the speculative nature of these reports, underlining that no official confirmation has been made. Mavioglu notes a recent adjustment in the CBI application fees, with the residency investment threshold raised from $75,000 to $200,000, subtly escalating the program's cost.
The potential increase, however, faces criticism. Tenha argues that amidst declining demand, raising the investment threshold seems impractical. He also suggests that political factors, such as local discontent over perceived low-cost citizenship grants and property price inflation due to foreign investments, might influence the decision.
While Mavioglu acknowledges the potential political motivations, especially with upcoming municipal elections, he remains optimistic about the program's appeal, even at a higher investment level. He predicts no imminent changes and expects a grace period for any new regulations.
In summary, the rumors of Turkey's CBI program's investment threshold increase to $600,000 remain unconfirmed. Pros of this potential change include responding to domestic political pressures and possibly enhancing the perceived value of Turkish citizenship. The cons, however, include reduced program attractiveness amidst already declining demand and the risk of deterring foreign investors due to higher costs. The situation remains fluid, with official confirmation and details yet to be announced.