Rich Chinese people on lookout for easier alternatives to acquire US/EU citizenship

Beijing [China], January 25 (ANI): In order to thwart strict norms put in place by the US and European Union (EU), rich Chinese people are on the lookout for easier alternatives to easily obtain US/EU residency permits. They have recently discovered that obtaining Turkish citizenship first would make it easier for them to acquire US citizenship, reported Greek City Times.

As a result of China’s strained relations with the US and many European countries in recent years, it has become difficult for Chinese citizens to obtain a residence permit in Western countries. Chinese websites and social media platforms are flooded with advertisements for obtaining Turkish citizenship and the advertisements underline that the alternate way to obtain US Citizenship is by first obtaining Turkish citizenship which can be acquired through an investment of at least USD 250,000 in the property.

The advertisements emphasize that it is possible to go to America and other western countries easily after obtaining Turkish citizenship. The tagline of ads reads, “if you buy real estate, all your family members get their passports as gifts,” reported Greek City Times. One Chinese real estate consultancy firm that deals with real estate sales from Turkey emphasized in one of its advertisements that for Turkish citizenship, “Britain is the best springboard for settling in developed countries, such as the USA,” added Greek City Times.

As per the advertisement, after obtaining a Turkish passport, the Chinese can go to the US as an immigrant with an E2 investor ID. E2 is a visa issued by the US only to countries with mutual trade partnerships. Turkey has a trade partnership with the US. The E2 visa is the country’s most issued visa. It can take 500-600 people every year, reported Greek City Times.

Moreover, with a Turkish passport, they can go to England with a business visa. The UK government allows Turkish citizens to engage in business. A 1-year commercial visa can be obtained on the first application. After five years, the right to stay in the UK indefinitely can be earned, reported Greek City Times.

Turkey has provision vide, in which a foreigner can obtain Turkish nationality on the basis of a certain amount of investment in real estate, capital investment, by way of business generating employment for Turkish nationals, or by investing in Treasury bonds or any type of government loan instrument. In 2018, with a legal regulation, the lower limit of real estate investment, which is one of the options for citizens of other countries to obtain Turkish citizenship, had been reduced from USD 1 million to USD 250,000, reported Greek City Times.

However, on January 06, 2022, the regulation on the ‘Implementation of the Turkish Citizenship Law’ was amended and the investment values were enhanced. The Turkish government facilitated the regulation for foreigners to acquire Turkish citizenship in a bid to support the Turkish lira, which is depreciating in the backdrop of greylisting by the Financial Action Task Force (FATF) in October 2021.

However, China is exploiting this provision of Turkey, whereby Chinese citizens are purchasing real estate in Turkey or making a fixed capital investment to obtain Turkish citizenship. (ANI)