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Year 2019, Volume: 7 Issue: 1, 55 - 67, 26.06.2019

Abstract

References

  • Arton Capital. (2018). Second Residency and Second Citizenship Cost. www.artoncapital.com Bachman, J. 2017. “The Most Desirable Passports On Earth Don’t Include America’s” https://www.bloomberg.com/news/articles/2017-03-03/the-most-desirable-passports-on-earth-don-t-include-americaBeck, K. (2017). Why Citizenship Is Now a Commodity. http://www.bbc.com/capital/story/20170530-why-citizenship-is-now-a-commodityBelize Company. (2018). Economic Citizenship Programmehttps://www.belizecompany.com/Regulators-and-Legislation/Economic-Citizenship-Programme/Brinker, T and Dalson, A. (2018). “Obtaining Economic Citizenship in the Caribbean: Can “Home” Be Bought?”. Journal Of Practical Estate Planning, April-May, p.21-24. Caribbean and Land Property. (2018). Second Passport & Economic Citizenship, http://www.caribbeanlandandproperty.com/offshore_company_offshore_banking/economic_citizenship. China Foreign Service. (2018). Visa Fees. http://www.china-embassy.org/eng/visas/fees/).Csglobalpartners. (2018). Second Citizenship Investment. www.csglobalpartners.com Curshen, J. (2006). Second Passport and Offshore Residency Programs, Royal Socıety Of Fellows Newsletter, August 2006, http://mfsfi nancial.com/royalsocietyoffellowsnewsletter/id6.html.Dhami, S. (2017). The Foundations of Behavioral Economic Analysis. Oxford University Press.DeVoretz, D. J. and Pivnenko. S. (2004). “The Economic Causes and Consequences of Canadian Citizenship”. IZA DP No. 1395Etias. (2018). Schengen Statistics. https://etias.com/about-etias/etias-key-factsGOCCP (2018). Citizenship and Residency Programs. www.goccp.com Goldenvisas (2018). Citizenship and Residency Programs. www.goldenvisas.comGoldencitizenship (2018). Citizenship and Residency Programs. www.goldencitizenship.comHoulder, V. (2016). “Citizenship Is For To The Wealthy”. https://www.ft.com/content/155936ec-2728-11e6-8ba3-cdd781d02d89Mazzoları. F. (2009). “Dual Cıtızenshıp Rıghts: Do They Make More And Rıcher Cıtızens?.” Demography, 46 (1), 169–191Henderson, A. (2018). Nomad Capitalist: How to Reclaim Your Freedom with Offshore Bank Accounts, Dual Citizenship, Foreign Companies, and Overseas Investments. Nomad Books.Henderson, A. (2017). Nomad Capitalist Flag Theory. www.nomadcapitalist.com Nationalpost (2018). St.Kitts and Nevis Loat Visa Free Access to Canada. http://nationalpost.com/news/world/greed-blamed-as-buy-a-passport-program-lands-st-kitts-and-nevis-off-canadas-visa-waiver-listOCCRP. (2018). “Bulgaria’s Golden Visas Missed Targets and a Banking Loophole.” https://www.occrp.org/en/goldforvisas/bulgarias-golden-visas-missed-targets-and-a-banking-loopholePassport Index. (2018). Passport Index Ranking. https://www.passportindex.org/St. Kitts & Nevis Citizenship by Investment Programme. (2018). Tax. www.skbfinancialservices.com/citizenship.php.St. Kitts & Nevis and Dominica Citizenship-by-Investment Programs. (2018). https://apexcapital.partners/caribbean/passports-purchase-open-citizenship-doors-around-world/Statista. (2018). “Average monthly rental cost for apartments in various European cities in 2018 (in U.S. dollars).” https://www.statista.com/statistics/503274/average-rental-cost-apartment-europe/Son Dakika. (2018). The Schengen Rejection Has Been Increased by 80%. https://www.sondakikaturk.com.tr/haber/amp/85406?__twitter_impression=trueStone, J. (2018). Serbia and Montenegro could join EU by 2025, European Commission says. https://www.independent.co.uk/news/world/europe/eu-enlargement-serbia-montenegro-macedonia-albania-kosovo-brexit-juncker-2025-a8197201.htmlXin Xu, Ahmed El-Ashram and Judith Gold (2015). “Too Much of a Good Thing? Prudent Management of Inflows under Economic Citizenship Programs”. IMF Working Paper, WP/15/93

WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?

Year 2019, Volume: 7 Issue: 1, 55 - 67, 26.06.2019

Abstract

Economic
citizenship is the fast track to a legal second passport in a short period by
investment or donation. Recently, many countries including Turkey have launched
their own citizenship by investment program or economic citizenship. This paper
explains the failure of Turkish economic citizenship schema and weighs the
cost-benefit analysis of economic citizenship in three aspects: visa free,
marginal contribution and investment threshold aspects. There are 3 reasons of
failures to attract foreign investors to economic citizenship: First, the
return on investment is very low since one often needs to apply for the EU visa
and 6 big English-speaking countries. Second, under the marginal contribution
analysis, we eliminated the redundancy among passports and we calculated the
additional benefits of a passport. Schengen visa free access passport is the
main condition of this citizenship market. Third, under the investment
analysis, Turkey began with 3 million USD deposit requests or 1 million USD
real estate purchase above European (U.K., Cyprus, Portugal and Bulgaria)
countries’ threshold.  

References

  • Arton Capital. (2018). Second Residency and Second Citizenship Cost. www.artoncapital.com Bachman, J. 2017. “The Most Desirable Passports On Earth Don’t Include America’s” https://www.bloomberg.com/news/articles/2017-03-03/the-most-desirable-passports-on-earth-don-t-include-americaBeck, K. (2017). Why Citizenship Is Now a Commodity. http://www.bbc.com/capital/story/20170530-why-citizenship-is-now-a-commodityBelize Company. (2018). Economic Citizenship Programmehttps://www.belizecompany.com/Regulators-and-Legislation/Economic-Citizenship-Programme/Brinker, T and Dalson, A. (2018). “Obtaining Economic Citizenship in the Caribbean: Can “Home” Be Bought?”. Journal Of Practical Estate Planning, April-May, p.21-24. Caribbean and Land Property. (2018). Second Passport & Economic Citizenship, http://www.caribbeanlandandproperty.com/offshore_company_offshore_banking/economic_citizenship. China Foreign Service. (2018). Visa Fees. http://www.china-embassy.org/eng/visas/fees/).Csglobalpartners. (2018). Second Citizenship Investment. www.csglobalpartners.com Curshen, J. (2006). Second Passport and Offshore Residency Programs, Royal Socıety Of Fellows Newsletter, August 2006, http://mfsfi nancial.com/royalsocietyoffellowsnewsletter/id6.html.Dhami, S. (2017). The Foundations of Behavioral Economic Analysis. Oxford University Press.DeVoretz, D. J. and Pivnenko. S. (2004). “The Economic Causes and Consequences of Canadian Citizenship”. IZA DP No. 1395Etias. (2018). Schengen Statistics. https://etias.com/about-etias/etias-key-factsGOCCP (2018). Citizenship and Residency Programs. www.goccp.com Goldenvisas (2018). Citizenship and Residency Programs. www.goldenvisas.comGoldencitizenship (2018). Citizenship and Residency Programs. www.goldencitizenship.comHoulder, V. (2016). “Citizenship Is For To The Wealthy”. https://www.ft.com/content/155936ec-2728-11e6-8ba3-cdd781d02d89Mazzoları. F. (2009). “Dual Cıtızenshıp Rıghts: Do They Make More And Rıcher Cıtızens?.” Demography, 46 (1), 169–191Henderson, A. (2018). Nomad Capitalist: How to Reclaim Your Freedom with Offshore Bank Accounts, Dual Citizenship, Foreign Companies, and Overseas Investments. Nomad Books.Henderson, A. (2017). Nomad Capitalist Flag Theory. www.nomadcapitalist.com Nationalpost (2018). St.Kitts and Nevis Loat Visa Free Access to Canada. http://nationalpost.com/news/world/greed-blamed-as-buy-a-passport-program-lands-st-kitts-and-nevis-off-canadas-visa-waiver-listOCCRP. (2018). “Bulgaria’s Golden Visas Missed Targets and a Banking Loophole.” https://www.occrp.org/en/goldforvisas/bulgarias-golden-visas-missed-targets-and-a-banking-loopholePassport Index. (2018). Passport Index Ranking. https://www.passportindex.org/St. Kitts & Nevis Citizenship by Investment Programme. (2018). Tax. www.skbfinancialservices.com/citizenship.php.St. Kitts & Nevis and Dominica Citizenship-by-Investment Programs. (2018). https://apexcapital.partners/caribbean/passports-purchase-open-citizenship-doors-around-world/Statista. (2018). “Average monthly rental cost for apartments in various European cities in 2018 (in U.S. dollars).” https://www.statista.com/statistics/503274/average-rental-cost-apartment-europe/Son Dakika. (2018). The Schengen Rejection Has Been Increased by 80%. https://www.sondakikaturk.com.tr/haber/amp/85406?__twitter_impression=trueStone, J. (2018). Serbia and Montenegro could join EU by 2025, European Commission says. https://www.independent.co.uk/news/world/europe/eu-enlargement-serbia-montenegro-macedonia-albania-kosovo-brexit-juncker-2025-a8197201.htmlXin Xu, Ahmed El-Ashram and Judith Gold (2015). “Too Much of a Good Thing? Prudent Management of Inflows under Economic Citizenship Programs”. IMF Working Paper, WP/15/93
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Details

Primary Language English
Subjects Economics
Journal Section Articles
Authors

Mustafa Akın 0000-0002-1850-9118

Publication Date June 26, 2019
Acceptance Date June 20, 2019
Published in Issue Year 2019 Volume: 7 Issue: 1

Cite

APA Akın, M. (2019). WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?. Journal of International Management Educational and Economics Perspectives, 7(1), 55-67.
AMA Akın M. WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?. Journal of International Management Educational and Economics Perspectives. June 2019;7(1):55-67.
Chicago Akın, Mustafa. “WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?”. Journal of International Management Educational and Economics Perspectives 7, no. 1 (June 2019): 55-67.
EndNote Akın M (June 1, 2019) WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?. Journal of International Management Educational and Economics Perspectives 7 1 55–67.
IEEE M. Akın, “WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?”, Journal of International Management Educational and Economics Perspectives, vol. 7, no. 1, pp. 55–67, 2019.
ISNAD Akın, Mustafa. “WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?”. Journal of International Management Educational and Economics Perspectives 7/1 (June 2019), 55-67.
JAMA Akın M. WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?. Journal of International Management Educational and Economics Perspectives. 2019;7:55–67.
MLA Akın, Mustafa. “WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?”. Journal of International Management Educational and Economics Perspectives, vol. 7, no. 1, 2019, pp. 55-67.
Vancouver Akın M. WHY DOES TURKEY FAIL AS A NEW ENTRANT ON ECONOMIC CITIZENSHIP MARKET?. Journal of International Management Educational and Economics Perspectives. 2019;7(1):55-67.