The Vice President of the International Real Estate Promotion Association (GIGDER), Bayram Tekci, says Turkish citizenship has become a “plan B” for Russians who are prohibited from traveling to Europe to obtain Spanish or Greek citizenship due to visa restrictions.
Unlike in previous years, “we have a different kind of Russians” who are visiting Turkey this year, says Tekci. People in Nice or Cote d’Azur, who have a higher income and more education, are looking for ways to organize their lives.
Take, the owner of Antalya Homes, says Russians are interested in moving to Turkey to protect their savings. “We sell 20-25 homes to Russians every month, half of them for citizenship and the rest for residence,” he said.
In Europe, Russian business dealings are subject to close scrutiny; However, in Turkey, Turkish citizenship gives Russians a way to transfer their assets and conduct business more freely.
To regain their financial freedom, Tecci said, they would like to become citizens of Turkey. “They are moving their money and business to Turkey.”
As a result of visa restrictions, many Russians cannot travel to Europe to obtain citizenship in Spain or Greece, according to Byram Teksi, vice president of the International Association for Real Estate Development (GIGDER).
“We have a different kind of Russian” in Turkey this year, says Tecci, compared to previous years. The wealthy of Nice and the Côte d’Azur are looking for ways to organize their lives.
Turkish property developer Tekce claims that the Russians are interested in moving to Turkey to protect their investment. He said that at least half of the real estate sold monthly to Russians is for citizenship and the rest for residency.
Unlike in Europe, where Russian business transactions face greater scrutiny, Turkish citizenship allows Russians to operate more freely.
“Tekci said that they would like to become Turkish citizens to regain their financial independence. According to the narrator, “Turkey has become their new home.”
Concern for the United States of America
In June, the US Treasury Department sent Treasury Deputy Secretary Wali Adeimo to Ankara to monitor the flow of Russian money into Turkey. As a result, he warned Turkish officials and companies to avoid acting as a conduit for “illicit financing.”
In Turkey, Tecci claimed to have met Adeyemo. According to him, “We try to explain to him that the Russians who come to Turkey are ordinary people with families and investments, they are not among the few.” Some moms can’t even send a few dollars to their daughter who is studying in France, for example.
Ozkan Tiksi, Bayram’s colleague at Spain Homes, says that Russian companies are also moving to Turkey. “Mail.Ru plans to move approximately 2,000 software developers to Antalya,” he said in a statement.
Turkey’s Dunya newspaper reported this week that Russia’s interest in Turkish infrastructure and facilities goes beyond the fact that Russian citizens and residents are interested in Turkey’s facilities. To deliver its products to Russian consumers, Turkey is used as a staging point.
As stated in the report, goods destined for Russia are first brought to Turkey and then shipped to Russia after being repackaged in new containers. According to logistics experts, Turkey’s warehouses are exploding at docking points with Russian transit cargo.
According to the report, which cites logistics companies, Russian citizens who obtained Turkish citizenship through investments are facilitating trade with the neighboring country. As a result, they established companies in Turkey and then used Turkish shipping companies to import goods into Russia.
There has been a drop in Russian interest in Turkish citizenship since the initial influx, according to Bayram Tekci, but it is still going strong. There is a chance for them, after all.
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