The newest programme on the citizenship by investment block, unveiled just as the pandemic kicked off, Egypt joins Jordan and Turkey in providing an attractive economic immigration option especially to HNWIs in the Middle East.
Of the nearly 7 million (6.9 million) houses purchased in Turkey in the last five years, 154,871 were bought by foreign investors, demonstrating a rapid increase in foreign property purchase in Turkey in the last year due to the easing of minimum requirements for acquiring Turkish citizenship by investment.
As one of just three Citizenship by Investment Programmes worldwide (and the only one in the Caribbean) that allows its citizens to enter, invest and work in the US via the E-2 Investor visa treaty, Grenada’s CIP is proving increasingly popular with HNWIs, especially from India and China, where there is increased private wealth.
With nearly 4,000 citizenship applicants approved during the first three months of the pandemic, Turkey continues to process high volumes of passport applications via its Citizenship by Investment programme, with no let-up during Covid. Such numbers make Turkey’s CIP currently the most popular on the market today.