Turkey has long been a favored tourist destination for Arab nationals throughout its history due to its family-oriented attractions, historical significance, and natural wonders.
Through their adoration of Turkey, an increasing number of Arab nationals in general, and Iraqi nationals in particular, have flocked to Turkey once the Asia Minor country announced that it is granting citizenship to those who invest in it.
Iraqi nationals have been the most active group when it comes to acquiring Turkish citizenship through investment; be it for their love of the Turkish country, to the weakness of the Iraqi passport, or a combination of both.
According to the government of Turkey, Iraqi nationals are the majority of foreigners investing in property within Turkey, as approximately 1 out of each 5 foreign property acquisitions within Turkey is done by an Iraqi national.
Why Are Iraqi Nationals Investing In Turkey
A question that has many answers, but anyone of them would be convincing by itself. The main reasons Iraqi nationals invest in Turkey vary, so Reach Immigration will introduce you to the most common as per our experience with our valued Iraqi clients.
Turkish citizenship can be obtained by investing in the country. Persons who purchase a property worth 250,000 USD are directly eligible to obtain Turkish citizenship and passports (which grants visa-free entry to 111 destinations worldwide) for themselves and their family members of spouse and children below 18 years of age.
Living Standard and Environment
Iraqi nationals who intend not just to invest in Turkey, but reside in it as well, choose the country due to its familiarity and living standard. Turkey is home to many Muslims and Christians who are free to embrace their religious practices, most of which are done in historic monuments stretching back to the Ottoman and Byzantine empires of yore.
Turkey’s economy and environment play a role in providing newcomers with a high living standard in a modern, yet familiar setting. The cuisine, social ties, and overall tone of the country are similar to those found in Iraq, providing Iraqi nationals with an easy integration process.
Economic Boom on The Horizon
Turkey is set for an economic boom in 2023, as the treaty of Lussaune is set to expire, while a newly found gargantuan natural gas reserve will start reaping rewards in 2023 as well.
A strong and growing economy means that those investing in Turkey face a great chance of making some serious profit. Never in recent memory has there been such a great chance to invest in Turkey.
USA’s E2 Visa
The USA’s illustrious E2 visa is a treaty visa available to nationals of certain countries. Although Iraqi’s are not eligible for this visa, Turkish nationals are. Hence, Iraqi’s who obtain Turkish citizenship through investment can apply for the E2 visa, and get a five-year multiple-entry residence permit in the USA, renewable for the same timeframe.
While there remain many reasons, such as those who look for projects which offer a return on investment of 10% or more, or others that simply want a summer home; the reasons pushing Iraqi nationals to invest in Turkey are varied yet convincing.
Contact Reach Immigration if you would like to know more about Turkey’s citizenship by investment program.