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Saudis and Arab Residents Are Turning to Invest in Turkey

In recent weeks, Saudi businessmen and Arab residents in Saudi Arabia have been moving to Turkey...

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2017-11-25 Last update 2020-02-12

Saudis and Arab Residents Are Turning to Invest in Turkey

In recent weeks, Saudi businessmen and Arab residents in Saudi Arabia have been moving to Turkey. The Central Department of Immigration in the Turkish city of Istanbul, which is responsible for granting residency to foreigners, can see a noticeable increase in the number of Saudi citizens and Arab residents in the Kingdom who want to live in Turkey.

This scene is also repeated in the Turkish banks in the central regions of Istanbul, where there are many Arabs.

Perhaps the political and economic changes and the tax system for residents in the Kingdom increased the desire of many to experience other markets, especially Turkey, Some may complain about the sponsor's system, and register their money and property in the sponsor's name.

A large number of Arab residents who have moved to Turkey do not hide their desire to acquire Turkish citizenship, trying to benefit from the ordinary citizenship? law, which allows citizenship to be granted to a resident for a period of five consecutive years under certain conditions or the law of exceptions granting nationality to a person who buys property in an amount exceeding Million or making large investments.

On the other hand, Turkey seeks to take this chance through the facilitation of opening bank accounts and provide facilities for investors on its territory by granting residency to attract funds from abroad, which contribute to support the economy of the country.

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