5 reasons why to invest in Turkey
Turkey today shows high and stable economic growth, thereby offering foreign citizens a large number of directions for profitable investments. One of the fastest growing sectors is the real estate market. The rise of prices for the property in the country is confident. This trend is especially noticeable in the resort regions located on the Mediterranean coast. Combined with low tax rates for the purchase and subsequent ownership, investing in Turkish real estate is a safe and win-win option that will not only save, but also increase your investment. This area is attractive for investment for several reasons:
In 2018, Turkey launched its own program of citizenship for investments. When buying real estate, a foreign investor has the right to obtain the Turkish passport.
“Sonmez Real Estate & Construction” is ready to offer you the most reliable and promising options for a profitable investment in Turkish real estate.
In 2018, the Turkish government introduced the possibility of obtaining Turkish citizenship in a short period. Anyone who has bought property worth $ 250,000 or put in deposit $ 500,000 in Turkish banks can apply. In this case, the applicant is not entitled to either sell this property or withdraw money from the account for 3 years. Also, those who have made investments in the Turkish economy in the amount of at least $ 500,000 and those who have created 50 jobs for Turkish citizens can apply for citizenship in an accelerated mode.
Also, entrepreneurs and investors can apply for the Turquoise Card, which guarantees almost the same rights as ordinary Turkish citizenship.
Required Documents for Application for Turkish Citizenship by Investment
Preparation of documents for obtaining citizenship requires special knowledge and experience. Since each applicant in his particular case may have different conditions, we recommend that you contact our company for legal support. We provide you with full support in the preparation of documents.
List of required documents:
Tourism is one of the most important components of the Turkish economy, thanks to which there is no lack of regular investments. This industry employs about two million people (510 thousand directly, another 1.5 million in related industries). Turkey ranks sixth in the world ranking of the most popular destinations among tourists and continues to offer many opportunities, both already established as well as in the recently been developing industry subsectors.
In a short period of time in the country, also using the foreign investment, an extensive network of various hotels and campgrounds was created. New roads have been built and repair works carried out on the problem areas. The preparation of own highly qualified guides with knowledge of the main European languages has started. Much attention was paid to the reconstruction of old attractions. To increase revenue from tourism, Turkey is trying not only to connect new regions, but also to promote its various types, increasing the variety of services provided.
The country is actively developing “congress” tourism. For this, in Istanbul, Antalya and Izmir, centers have been formed for congresses, conferences and seminars.
Wellness (thermal) tourism is based on the use of thermal springs, of which there are more than 1000 in Turkey.
The undisputed center of ecotourism is Cappadocia. The local landscapes, caves and underground cities will not leave the traveler indifferent.
No doubt, the main type of tourism in Turkey is beach vacations. In terms of the number of tourists, the country is one of the world leaders and the authority on the Mediterranean.
Megaprojects are one of the main factors contributing to the achievement of the goals. Choosing as a location, mainly, Istanbul, which is the economic and financial center of the country. After the completion of the construction of the Third Airport of Istanbul, marked the world’s largest hub for transport and aviation, using cutting-edge technologies.
Another big project that hit the scales – an artificial canal of Istanbul, which will connect the Black Sea and the Marmara Sea. The canal will be an alternative to the Bosphorus Strait and will reduce the movement of oil tankers through the Bosphorus.
According to the Office of Statistics, 41.6 million tourists visited Turkey during the 2019 season. They left over $ 23.63 billion in Turkey. Most tourists came to Turkish resorts from Russia, Germany and the UK. Russians make up 14.7% of the total number of tourists, Germans – 9.64%, British – 6%.
The decrease in the foreign segment of the tourist flow in 2020 occurred for well-known reasons: travel restrictions and drop in demand, due to the impossibility of a good rest. Despite all this, for 10 months of 2020, 14 million tourists visited Turkey, among which the most active were guests from Russia, Germany, Bulgaria, Great Britain and Ukraine. Paying attention to the industry losses from reduced tourist flow in money, revenues from the hospitality industry in 2020 fell by more than half, amounting to 65% or $ 12.6 billion. At the same time, the average consumption per tourist in Turkey turned out to be 14.4% more.
According to forecasts, by 2023 the tourist flow to the country will reach 75 million tourists, and the industry’s revenue will exceed $ 65 billion.
In accordance with the Tourism Strategy of Turkey – 2023 (TST), developed by the Ministry of Culture and Tourism, the government of the country pays significant attention to the development of tourist centers far from the coast. According to the TST, numerous historical places of Turkey will be announced “regions of cultural and tourism development”, some settlements of the country will receive the status of tourist cities, and in relation to cities such as Gaziantep and Mardin, projects will be developed and implemented to transform them into “centers of cultural and religious tourism”. TST also provides assistance in the development of infrastructure for domestic and international winter tourism.
Thus, according to the government’s plans, it is assumed that due to the increase in tourist flows and the expansion of the sphere, tourism revenues will grow to $ 30 billion a year. It is expected that a transparent and clear government policy in the field of tourism will attract new foreign investment, the total volume of which will amount to $ 25 billion, which will allow Turkey to enter the top five tourism countries in the world. Every year, despite the growth in tourist traffic, both the regions and the state are investing huge amounts of money in advertising. Antalya authorities, for example, are now working to become a year-round resort. Also in the region, football fields and tennis courts are being built, where athletes from other countries train in winter.
Belek region is considered the most important golf destination in Turkey and ranks among the most popular tourist destinations in the world with 15 golf courses. The Turkish government also offers incentives and policies for low-cost utilities, tax breaks, and is working to remove bureaucratic barriers.