Daily Times

Real Estate International Promotion Association (GIGDER) deputy chairman Bayram Tekce says that Turkish citizenship has become “a plan B” for Russians who are prohibited from traveling to Europe to obtain Spanish or Greek citizenship because of visa restrictions.

In contrast to previous years, “we have a different type of Russians” visiting Turkey this year, says Tekce. People in Nice or the Cote d’Azur, who have a higher income and more education, are looking for ways to organize their lives.

Tekce, the owner of Antalya Homes, says Russians are interested in relocating to Turkey to safeguard their savings. “We sell 20-25 houses to Russians every month, half of which are for citizenship and the rest for residency,” he said.

In Europe, Russians’ business dealings are closely scrutinized; in Turkey, however, Turkish citizenship offers Russians a way to move their assets and do business more freely.

To regain their financial freedom, “Tekce said, they would like to become citizens of Turkey. “They’re moving their money and their businesses to Turkey.”

As a result of visa restrictions, many Russians are unable to travel to Europe in order to obtain citizenship in Spain or Greece, according to Bayram Tekce, the deputy chairman of the Real Estate International Promotion Association (GIGDER).

“We have a different type of Russians” in Turkey this year, says Tekce, comparing it to previous years. Affluent people in Nice and the Cote d’Azur are looking for ways to organize their lives.

Turkish real estate developer Tekce claims that Russians are interested in moving to Turkey in order to protect their investments. At least half of the properties sold each month to Russians are for citizenship and the rest for residency, he said.

Unlike in Europe, where Russian business dealings face greater scrutiny, Turkish citizenship allows Russians to operate with greater freedom.

“Tekce said they’d like to become Turkish citizens in order to reclaim their financial independence. According to the narrator, “Turkey has become their new home.”

Concern for the United States of America

In June, the US Treasury Department dispatched Deputy Secretary of the Treasury Wally Adeyemo to Ankara to monitor the flow of Russian money into Turkey. As a result, she warned Turkish officials and companies to avoid acting as a conduit for “illicit financing.”.

In Turkey, Tekce claims he ran into Adeyemo. According to him, “We tried to explain to her that the Russians coming to Turkey are regular people with families and investments, they are not oligarchs.” Some mothers can’t even send a few dollars to their daughter, who is studying in France, for example.

Ozkan Tekce, a colleague of Bayram’s at Spain Homes, says that Russian companies are also relocating to Turkey. In a statement, he said, “Mail.Ru plans to relocate nearly 2,000 software developers to Antalya.”

Turkish newspaper Dunya reported this week that Russia’s interest in Turkish infrastructure and facilities goes beyond the fact that Russian citizens and residents are interested in Turkey’s facilities. To get their goods to Russian consumers, Turkey is used as a stopover point.

As stated in the report, goods destined for Russia are first brought into Turkey and then shipped to Russia after being repackaged in new containers. Turkey’s warehouses are bursting at the seams with Russian transit goods, according to logistics experts.

According to the report, which cites logistics firms, Russian citizens who have obtained Turkish citizenship through investment facilitate trade with the neighboring country. As a result, they set up companies in Turkey and then use Turkish shipping companies to import goods to Russia,” the report stated.

There has been a decline in Russian interest in Turkish citizenship since the initial influx, according to Bayram Tekce, but it is still strong. There is a chance for them, after all.