Caribbean Citizenship vs. Turkey Citizenship by Investment
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- Опубликовано: 11 июл 2024
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If you tell someone that you have Caribbean citizenship by investment (CBI), they might scoff at you. Many people call passports from places like Dominica or Antigua fake or illegitimate because you can get them rather quickly by making a simple investment in the country. I did “buy a Caribbean Citizenship” from St. Lucia and now hold a passport. We can tell you that they’re perfectly legitimate and that all Nomad Capitalists should consider them as a part of their diversification strategy.
Three years ago, we didn’t think that Turkish citizenship by investment was going to amount to much. They had just launched it in January 2017 and with an entry cost of at least $1 million. Unsurprisingly, there weren’t many takers.
The Turkish government realized that they grossly overvalued their passport and dropped the investment needed to $250,000 in mid-2019. This instantly made it the hottest passport in the RCBI (Residence and Citizenship by Investment) world.
Which one is better? In this video, Andrew will tell you.
00:00 Start
0:21 Citizenship By Investment
1:37 Obtain Caribbean Citizenship
2:26 How to Get Turkish Citizenship
3:26 Investing in Real Estate
4:00 The Strongest Passports
8:58 Citizenship-Based Taxation
10:02 Citizenship By Descent
12:05 English-Speaking Countries
13:06 Living in Turkey
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
You are amazing ...
I've been to Carribbeans and St. kitts and Nevis and the land is beautiful, but the public facilities are poor.
Turkiye is like Heaven and not just a gateway between EU and Asia, but a gateway to the World.
As a russian citizen, it looks to me that Turkey is more resilient to pressure from the west than Carribean. So unlike Carribeans, Turkey's citizenship by investment program stays open to Russians and Iranians. So it's definitely on my list, but I'm short of available money due to market crash.
good luck with ur current situations
I hope it works out for you bratan💪🏾💪🏾 good luck
I'm an American and sorry about the crash affecting you. Maybe someday we will have a drink in Turkey.
@@hititorquitit2990 we are close to a crash also LOL. That's why I left two years ago. This is world wide buddy.
Much bigger country
Living in Turkey is insane value for money. If you earn in USD, your money goes literally 5-10X further than living in the west. Inflation arbitrage.
try buying a car ;)
Turkey is a huge country with a strong position. Its citizenship has a more sustantial presence. It offers very interesting real estate and stock market investment options. You can actually live there if you choose. I wish more countries like Turkey offered a CBI. Malaysia and Mexico would be examples I would wish opened CBI.
Many of my friends ha retired in Turkey and they love it.
Turkey is the best cbi simply because Turkey has the power not to be bullied by the Cuna countries. In my opinion it should be the first cbi you do and then add a Caribbean passport second.
What if you have a weak passport that cannot even get you into Europe? You probably would want Caribbean first then Turkiye.
@@lerryperry Europe looking very questionable these days. Not sure I would want to go there.
Are you kidding me with this question?
Turkish citizens are trying to flee to Europe&US and yet Turkish citizenship by investment seems attractive to foreigners?
Guys,be smart and choose Caribbeans 100% . If current gov't wins Lira will go to the toilet and if opposition wins whole investment program will definitely end,it is no question.
Besides,Turkish citizens have their visa applications denied just because they have this passport,rejections went up to 25%. You will still have troubles with visas.
And there are unofficially 15 million refugees (opposition estimate) getting citizenship slowly so they can vote for the current gov't to stay in power.
Don't waste your money,go to the Caribbeans. They're safe,with stronger passport and you can travel within EU visa free.
Many of the international banks and reliable brokers refuse to open accounts for those Island CBI citizenships unless you also give them a "real passport" (their words)... And they insist on using your TaxID for that "real" passport to send all your annual financial info to CRS. So Turkey is WAY better unless you've no meaningful wealth or investments. This choice was an easy one for me and others I know who fled the high-tax west.
@@grant5059 I'm in east asia, I've never lived in Turkiye because I don't know the language and my language (english) is not spoken much over there. Sadly I can only speak one language. Where I live now, almost everyone can speak english as the majority are trilingual. See, East Asians are the smartest ppl on earth, on average. But of course there's still idiots everywhere, especially in politics.
Very interesting presentation, however you left out one very important aspect: Healthcare.
I don't know much about the quality of health care in Caribbean but I know that Turkey's health care programs are very affordable and extremely good quality.
How many U.S. docs got their medical diploma in the Caribbean (due to the limited 300 med school cartel in the U.S?) How many from Turkey? That should help you measure that factor (assuming you're not interested in medical evacuation insurance. )
Turkey is the 3rd biggest medical tourism countries in the world, and their hospitals are state of the art… only problem is like going to most all countries that don’t speak English… they don’t all speak English 😬 but if you go to international hospitals you’re good 😉
And it’s cheap as chips compared to US
As a german born and rised up in turkey, although it is political not the best, this is my home and i love it.
@@thealexsar7964 where are you ethnically from?
For me it’s as simple as this. If your core objective is free traveling in Europe , may be Caribbean is better but for settling & for everything else Turkiye is the best option. See many comments about currency devaluation in Turkiye. I bought few properties in 2021 and despite significant devaluation today i have made money in US$ terms on those properties. Let alone the rent I am collecting in my Turkiye dollar account. And by the way, the citizenship came free because of these investments unlike Caribbean where you need to write off at least US $ 100,000 .
Wow. This is so interesting. I'm considering investing in real estate in Turkiye in order to obtain a Turkish passport. Was the process very simple? What were the costs? Which company did you use? What were the property costs (not the cost of the property)? Grateful if you could share any information. Thank you for any help that you can provide.
Interesting and informative 🇯🇲
Turkey is a real and powerful country, with industry and tourism. If you already have a decent passport its a much better option. I believe it has potential to be in the top in some years
My main concern is how they feel about Americans though.
@@hititorquitit2990 They're happy to have your money invested in their economy. Tell people you're Canadian if they ask.
@@marcietownsend3635 Cool. Thanks!
@@marcietownsend3635 I've heard that advice my entire world-wide tourist life......
@@marcietownsend3635 E.g., hollywood movie Argo, a historic and true life-and-death story.
What about the international banks and brokers NOT opening accounts for those Island CBI citizenships, unless it's you're place of birth. Mustn't you also show those financial institutions your "real passport" (their words)... and they'll insist on using your TaxID from your "real citizenship" country for reporting your annual financial info to CRS. So Turkey is better because it being a "real country", most banks/brokers abroad do accept you as only Turkish, right?
Residence permits work great if you're from a Caribbean state. Without them - yeah, you have problems.
I'm still going with the Caribbean 💯
Turkish people are very nice and open, there are many beaches and beautiful blue seas, large vibrant cities, close to many other countries…etc
Caribbien...dont think about it..100%
Cause of AB,Usa,Avustralia and Newzealand... with Turkish passport, you go other countries so hard.... It is weak passport
I will marry a Turk and I’m planning to apply for Turkish citizenship sometime down the road, good compliment to my Mexican passport.
Wondering how many people got the “You’re gonna need a bigger boat” reference.
This is the start of a good debate: Caribbean against Turkey. I love Cancun and Aruba. I never have been to Turkey (or Greece or the Eastern Mediterranean--except Alexandria Egypt which frankly is like a frozen time-capsule of nothingness.) I hear good things about Turkey, about Istanbul, and about Turkish Airlines. I do remember that there was a terrorist event at IST airport about five years ago, which is why I lost interest for a while. Also, it seems to me that the beaches in Eastern Europe/Mediterranean are for Europeans et al. who can't afford to fly to the very nice beaches in the Caribbean. Anyway, it's a starting point, and Turkey is on my to-do list. As far as enjoying the culture and lifestyle there, in addition to passport considerations.
Don't live in fear. Your exact time and place of death is already determined.
Well that’s interesting. There was a terrorist attack in Istanbul which made people think twice or three, four, fifty times. Terrorist attacks happen virtually anywhere on the planet earth like Paris, Chicago, Toronto and people never think twice about these places. People are somehow keener on sticking that label on Turkey rather than others above. Since this is a weirdly widespread pattern of perception and behavior, people doing that just don’t stop and think “hey yeah, this is weird, am i being a little but racist or xenophobic, maybe?”
You guys need to consider that if you have any sons as a Turkish citizen, they'd have to do military service or pay their way out.
There are exceptions
Turkey has the worst inflation rate in the hemisphere, that's never going to change
Official "Turkiye" now.
As a Turkish citizen im shocked when i read the comments about Turkey -both positive and negative- and i became %100 sure that you can not have a good idea about a country without living there a couple of years. Which made me even more sad because im also researching other countries and most probably im also judging them wrong
Get a 600k loan in other country, buy 1 Caribbean + 400k turkish property with passport, after 3 years sell everything and clear the bank loan.
Another thing, if someone do some bad crime or EU/USA give pressure Caribbean will cancel ur citizenship,latest example is Cyprus,21 passport cancelled.
Who will give pressure to Turkiye?
Geopolitical risk with turkey.
Turkiye, çok Guzel, Ama, be careful investing, also aside from US Lire appreciation, property has gone loco, for example, a flat in Fethiye which was 700K lire last year, now 2 million
after somedays buying property will be luxury for turkish people
I'd say turkey its not in the hurricane zones
You can fly from Mexico to the Carribean using Copa Airlines through Panama City.
A flight from Mexico to the carribean via panama costs more than a coach flight to Europe . Turkish airlines fly everywhere in the world at amazing fares. Its a western asia hub.
@@Thomas_Hardy. IST is also a european hub. The city that straddles two continents. Cannot be beat for air connections & convienience. Plus their new airport rocks, as does their national carrier. Forget some backwater island whose "passport" many international banks brokers and residency visa won't accept unless your place-of-birth is also that little island. They're a gimmick. Exception: real country like Cayman, Bermuda, Bahamas.
Could you do a video on military service? I'd like to get a citizenship without getting drafted in case of a war😂
... then turkish passport isn't for you unless you're over age 50.
Also, consider where the nukes will fly. The US did a very intensive analysis of that. The UK is worst with 99% chance of 100% obliteration. The US is second worst and also Russia, China and anything near all them top the list for dying instant or slowly.
least investment country or easiest investment country
andrew what is your opinion about the speech of the president of suriname planning to have a citizenship by investment program?
My life dream is to get Suriname passport
My question, (a bit off topic) as you pointed out, most Carribbean flights pass through USA or Canada.
Is possible to transit through the USA/Canada unjabbed as a tourist?
USA is not a transit country. Everyone that lands at a USA airport goes through full customs and immigration and need jabs (not sure canada). There are flights from panama and from cancun directly to Carribbean islands. Mexico doesnt require jabs.
People really need to think about Turkey's currency Lira. It has depreciated quite a lot over the past few years. All your investments will be worth a lot less in Turkey as their currency keeps depreciating, not to mention a far weaker passport.
nobody invests in lira and apartments are, in fact, quoted in dollars in istanbul.
@@KevinBanks512 Do local banks allow you to open dollar accounts?
@@wigglyk2796 of course, in a matter of seconds from any online banking
Lira is in free fall.
I invested in Turkey, even though the lira has dropped significantly, I gained in Dollar terms. I have openers US$ account and collects all my rents there.
turkish citizenship + Golden visa (Portugal/greece/hungary....) => best combination in term of price and lifestyle.
Man, Lira is down how much this year?? Be serious..
Is it expected that the Caribbean countries that have citizenship by investment programs lose the advantage of accessing the Schengen countries without a visa, as happened with Vanuatu? And when will the European Commission re-activate the visa exemption agreement between EU and Vanuatu again?
3 february
@@achrafsarajevo9856 excuse me but I didn't get you. What do you mean by third February 2023 ??
Thoughts on Northern Cyprus (Turkey)? They are building there.
Yeah, parts of Europe sadly are weighted down with historical baggage. EU Cyprus is well known to be an EU haven for disreputable businessmen. While Turkey and Istanbul might have excellent capitlist prospects; a good passport analyis would look at the Cyprus/EU/Turkey historical baggage.
Doesn't Turkey require military service?
good Question and l checked that up :
Military Service Obligation:
Turkish male citizens are obliged to perform their military service according to Turkish law.
Foreigners who become Turkish citizens are also subject to this obligation.
However, there are exceptions:
Immigrants not recognized by law and foreigners becoming Turkish citizens perform their military service at the age they are on the date of naturalization, similar to other privates of the same age.
Those of Turkish origin who are citizens of another country are exempted from military service when they become Turkish citizens if they are over twenty-two years old
How about expatriate and become a state national
What do you mean or what are you trying to say?
Carribean Island country is Joke. Turkey is real country with real economy.. There is no comparison between them. unless you are doing some highly criminal things
Ignorant,I have a barbados passport the country has a higher hdi and gdp per capita than Turkey.
Guys ,how about $500k in bank deposit ??
after 3 years will anyone loss money?
I'm also wondering? I'd also like to know what is the average bank interest rate in Turkey? And which are the better Turkish banks to use?
👍
Turkey is an Islamic country. Something else to bear in mind
Turkiye doesn't have a national religion. It's true many people practice Islam. Howver, other religions are reportedly practiced and welcome there.
Nothing wrong with that. Turkey doesn’t need Islamophobes.
Turkey is secular to your information lmfao
@@c123ray Yes, that’s very true. No Christians or Jews have any problems practicing their religion in Turkiye.
I h a ve both one by birthone by naturalization
NO TURKEY. YES TURKİYE.
🤣😂
Türkiye 🇹🇷 is the best option for citizenship
Wow. Did you do it? I would like to know more.. thanks
not many will buy a radically Islamic Nations's passport.
What are you talking about
Coming from a radical islamophobe apparently
I have issues with Turkey. They are a political loose canon. I wouldn't be surprised if they get tossed out of the EU and NATO soon. They have rampant inflation and are influenced too much by Russia. More radical forms of Islam are on the rise. Not my first choice.
bro EU and NATO can't live without Turkey. extremely resilient and effective army. getting rid of Turkey would be an utterly stupid and dangerous move, they are literally game changers on the ground with their drones and they showed high efficiency in their operations in Syria, Armenia, Libya, etc. Their relative independence (they can talk to both Ukraine and Russia, to both Iran and Israel) is actually an asset for people trying to escape the influence of big players. No one wants to trust a vassal state of the West nor Russia. Think long term, look at their pyramid of ages, etc. On the short term it's unstable but still, 10 years from now it will be a whole different story.
Exactly, you're right.
I don't like this fanatics people and Turkish have violent ideology too.
I received my Saint kitts and Nevis passport and travel UK, EU without any harassment.
@@pongkazsarker6121 Yeah the biggest factor is the power of the passport. So many things go into that factor and change over time.
Turkey is not in the EU and never was but other than that I agree
Turkey is not in the EU. Erdogan is a Turkish Nationalist more than an Islamist.
Mate, you lost me after this video. Unbelievable ridiculous and unreliable to even suggest turkish citizenship... It shows that you really have a very superficial knowledge of what you re talking about. Turkey is an authoritative, islamic regime where you can easily lose your freedom and has a rich record of human rights violations, just to mention a couple of drawbacks.
Yeah, Turkey is like a poor cousin to Europe, trying to get into modern EU with its 8th century culture. Turkey is big with a big airline and can't be ignored. Just so weird.
On the positive side turkey won’t extradite their own citizens
@@Sarah-iv5tu that power Turkiye have.
It might be the only option if you're from Russia or Belarus now that the Caribbean countries have stopped processing applications from those countries. It could be a stepping stone to a better passport in the future. You also don't necessarily have to live there, but instead use the Turkish passport to get a residence permit elsewhere.
It’s not any more “authoritarian” than Russia.