TRNC Citizenship with Golden Passport

The idea of ​​a golden passport in Northern Cyprus … The request and preparation for TRNC citizenship in return for investment is on the agenda.

TRNC Citizenship with Golden Passport

It has been asked, wanted, for years. Considering the period and economic conditions, the picture is more positive for those who want citizenship this time. In the Turkish Republic of Northern Cyprus, the demand for citizenship in return for investment, a kind of Golden Passport lobby draws attention.

Coronavirus COVID-19 negatively affected the economy of the TRNC as well as the economies of all countries. Border gates were closed, work was suspended, the flow of money came to a halt. 

As the home quarantine system becomes widespread like mid-April, it is expected that the activity in the TRNC economy will start again. But on the one hand, the rapidly increasing number of coronavirus patients raises concerns about how long and sustainable this expansion will be.

Citizenship is one of the methods used in the world to make large-scale profits in a short time, to enter the country and to contribute to companies. Cyprus and especially its neighbors, including Turkey, many countries implemented the investment money citizenship programs / implements.

Tourism is important, education is also important.. But the number of students and tourists to the island is limited. Real estate investment is one of the moves that will provide the highest cash flow in the shortest time possible. Considering that only the construction sector directly or indirectly affects 170 sectors in total, the picture is remarkable.

Let’s get to the details… Citizenship in return for investment, that is, the TRNC Golden Passport model, which came to the agenda with the proposal of the Cyprus construction sector to the country administration, is more likely than ever in this period. Considering the uncertain course of the pandemic, the current state of the country’s economy and the demand of the global investor who wants to live in Northern Cyprus during the pandemic process, the possibilities increase even more.

What will be the investment figure for the TRNC Golden Passport?

Neighboring Southern Cyprus wanted 2.5 million Euros of investment in the gold passport process. It received great demand, especially from Russian and Far Eastern countries. The program was suspended when illegal structures, different purposes and bribery scandal were involved.

Likewise, the Republic of Turkey is implementing a similar structure. 250.000 dollars money investing in Turkey, offers citizenship. Arab investors generally prefer this model. They also evaluate their investment in the real estate sector. So, with an apartment of 250.000 dollars, it becomes a citizen.

It is a disadvantage that the Turkish Republic of Northern Cyprus does not have an EU passport like Southern Cyprus. That’s why it’s impossible to get those numbers. However, its location, importance and expectations in the Eastern Mediterranean may also be reflected in the figure as an added value.

The first figure spoken at the backstage is 250.000 Pounds. In other words, an average villa value.

What Provides TRNC Citizenship with Golden Passport?

It attracts attention with the opportunity it offers in the first place. Since it does not provide free movement in Europe (Schengen) like Southern Cyprus, it mobilizes not everyone, but those who want to live or do business on the island. Those who want to do business establish a company in faster and more advantageous conditions and manage the process. Those who want to live do not have to deal with formalities such as immigration and residence permits that tire the investor.

Considering that people who will receive citizenship for investment generally do not have a political expectation, even a restriction may be imposed on the right to elect and be elected if necessary. Thus, it is not possible to draw the model to a “political” point in order to criticize it.

Even in its current state, if the thought that creates excitement in the construction and real estate sector in Cyprus reaches a model that can be correctly constructed and applied properly, a completely different process may begin.