In fact, it is possible to obtain citizenship for the purchase of real estate today only in two countries – Turkey and Grenada. This was reported by RBC-Nedvizhimost, referring to the words of the head of the public relations department of Henley & Partners Switzerland AG Polina Kuleshova.
However, according to her, in Grenada, this practice will cease to operate on March 31, 2023, so only Turkey will actually remain. There is also a passport program in Vanuatu, but citizenship there is given for a contribution to the government fund. Also, quite recently, Montenegro provided similar opportunities. But for the Russians, the program ended on December 31, 2022.
As for Turkey, here the minimum entry amount is 400 thousand dollars, and the purchased property must be kept in ownership for at least three years. So, the period for obtaining a passport will be from six months.
But the advantage of obtaining Turkish citizenship is that a resident of the country will be able to open bank accounts and do business there, as well as participate in other Turkish investment projects that are inaccessible to Russians. For example, the possibility of further moving to the United States on Turkish documents.
As a reminder, we previously reported that the number of Russian transactions in Turkey has been declining for two months in a row. The decline has already amounted to 35% compared to the last month of 2022.
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