Forming a bridge between the continents of Europe and Asia and surrounded by the Black Sea, Mediterranean Sea, and Aegean Sea, Turkey occupies a unique geographic location. Turkey as a highly diverse and heterogeneous country, also combines the elements of traditionalism and modernity. Turkey’s free trade agreements with EFTA (European Free Trade Association) and 32 other countries signify its commitment to economic freedom and open markets. Please note that the Visa Liberalization Dialogue between Turkey and the EU, if successful, will safeguard open borders with 26 Schengen countries.
The amendment made to the “Regulation of the Turkish Citizenship Law” on January 12, 2017 has enabled foreign nationals to acquire Turkish citizenship through investment. Turkey introduced the citizenship by investment program soon after recognizing its unparalleled benefits. Turkey has continued to facilitate foreign investment in the country by easing the investment requirements (which will be illuminated below).
Under this alternative, investors may make a deposit of $500,000 in a Turkish bank, down from a previous value set at $3,000,000. The deposit must remain intact for 3 years.
Foreign investors can make a minimum investment of $400,000 in real estate. The recent amendment to the Turkish Citizenship Act (on May 13, 2022) up the minimum investment amount from $250,000 to $400,000. Investors are prohibited from selling the property for 3 years to be noted in the title deed.
Two primary avenues exist: investing in Mexican real estate or in a privately-owned Mexican business or one listed on the Mexican stock exchange. These pathways adhere to the foreign investment law designed to attract foreign investors to Mexico.
Your initial step should involve reaching out to a Mexican consulate or a reputable investment migration advisory firm. They can offer the most accurate and up-to-date information concerning the procedures associated with securing a temporary resident visa.
A temporary resident visa permits a stay of up to four years in Mexico. After four consecutive years as a temporary resident, you become eligible to apply for permanent residence.
The minimum investment amount is determined based on the Minimum Daily Wage (MDW) or Unit of Measure and Update (UMA). Generally, the property’s market value should be equivalent to at least 40,000 times MDW or UMA, and it must be located in Mexico to qualify for a temporary resident visa.
Certainly, your family members can apply for temporary or permanent residency based on your status. However, their applications might necessitate additional documentation.
After accumulating five years of permanent residence, you can initiate the process for obtaining Mexican citizenship. Becoming a citizen allows you to delve further into Mexican culture and participate fully as a community member.
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