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Pakistan & Turkey to Sign a Dual Citizenship Agreement

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Date Published: March 4, 2020 | Date Updated: August 23rd, 2020
By March 4, 2020 August 23rd, 2020 No Comments

Pakistan is planning to sign an agreement with Turkey, allowing Pakistanis to acquire Turkish nationality easily, and vice versa. The deal is a win-win for both countries, especially for Pakistan, which is currently surrounded by political instability, economic crises and business that faces a downturn for various reasons.

If Pakistan and Turkey successfully sign the dual citizenship agreement, business individuals and real estate investors from Pakistan who are looking to expand their business will benefit from the deal.

Indeed, one of the best benefits a real estate investment can offer, besides lucrative returns, is obtaining residency and citizenship with the investment, as the case with Turkey. Turkish citizenship allows High-Net-Worth individuals to travel visa-free, access to world-class healthcare, high-quality education and business opportunities for them and their families.

Passport from Turkey - Savory & Partners - Dubai, UAE-1

Related Article: How to Apply for Second Citizenship in Europe?

As a country, Turkey is one of the largest emerging markets in the world. Its geographical location, and overall global economic power makes Turkey an attractive place for investors worldwide. It is the 17th largest economy in the world with a nominal GDP of USD 840 billion, and is set to be part of the Trillion-dollar Club in 2020 (16 other countries in that club are U.S., China, Japan, Germany, U.K. and others).

“The deal is a win-win for both countries, especially for Pakistan, which is currently surrounded by political instability and economic crises”

When it comes to dual citizenship, some countries allow their citizens of having dual citizenship, and some restrict it. Pakistan allows its citizens to have dual citizenship with 19 countries without relinquishing their Pakistani citizenship. If the agreement is signed, Turkey will be the 20th country where Pakistan nationals can apply for dual citizenship.

Aerial View of Istanbul City - Savory & Partners - Dubai, UAE

Citizens from Pakistan or any other foreigners who meet any of the following criteria may be eligible for Turkish citizenship:

  • Acquired a property worth a minimum of $250,000 or equivalent foreign currency or Turkish lira with a restriction on its resale for at least three years.
  • Register a business that creates at least 50 jobs.
  • Deposited at least $500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same for at least three years.
  • Bought at least $500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years.
  • Bought at least $500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share, or venture capital investment fund share, with the condition that they cannot be sold for at least three years.

The investment enables you and your family (dependents below 18 years of age) to have Turkish citizenship in three to six months, depending on individuals background. As a Turkish citizen, you can access over 110 countries and territories visa-free and with visa-on-arrival (i.e. Argentina, Japan, Jordan, Malaysia, Moldova, Montenegro, Qatar, Singapore, South Africa, Thailand, Lebanon and more).

Top Benefits of  Dual Citizenship with Turkey:

  • Robust Economy
  • Extensive domestic and regional markets
  • Strategic location
  • Fast citizenship application processing
  • Property investment (with no donation required)
  • The potential return on investment
  • No residency requirements
  • Quick relocation to the U.S. (E2 treaty ‘Investor Visa’ signed between Turkey and the United States allows Turkish citizens to operate a substantial business in the U.S. and reside therein, similar to Grenada)
  • Fast relocation to the U.K. (Option to relocate to the U.K. and establish your business as a Turkish businessperson)
  • High standard of living

If you are interested in securing Turkish Citizenship and passport, let us guide you through Turkey Citizenship by Investment Program. Protect the future of your family by investing in a second passport and discover a world of possibilities, book a free consultation today with our team of multilingual consultants.

Jeremy Savory

About Jeremy Savory

Jeremy Savory, the founder and CEO of Savory and Partners, runs one of the world’s leading HNW citizenship by investment firms. The second passport company has coverage in over 20 jurisdictions including Europe.

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