Understanding Key Differences Between Citizenship and Permanent Residency
The main difference between citizenship and permanent residence lies in the rights and privileges each status grants. Citizenship provides full rights, including the ability to apply for a passport, vote in national elections, and hold public office. On the other hand, permanent residents have the right to live and work in the country but are not eligible for these benefits, particularly the right to apply for a passport. Permanent residency typically offers long-term stability without granting full political rights and is often considered a stepping stone towards obtaining citizenship.
The Turkish Citizenship by Investment Program (CBI) offers a pathway to citizenship through financial investment, particularly in real estate. To qualify for citizenship, applicants must make a minimum investment of more than $400,000 in Turkish real estate. This investment must be maintained for at least three years to ensure that the applicant meets the program's requirements. In addition to the citizenship route, there is also a residency permit option available. This requires a lower investment of $200,000 in non-restricted areas of Turkey, which allows individuals to obtain residency without the immediate intent of citizenship. This flexibility makes the program attractive to foreign investors seeking to enjoy the benefits of living in Turkey while considering their long-term options. The program is designed to stimulate the Turkish economy and attract investors from around the world, providing a viable path toward obtaining citizenship through investment.