Turkish Opposition seeks to revoke CBI Citizenships?

[TheGlobetrotter]

Hello,

what is your take on the declaration of the turkish nationalist party that they intend to cancel all CBIs? I am not sure I am allowed to post the link here but it's easy to find via google.

I was very seriously considering to go for the CBI by real estate investment but I find this news quite concerning. How sure are the CBIs at the end of the day ? They are an investment as any other so there is obviously some risk asociated with it, but is that risk

 

[daniels27]

They have made the program more and more︀ unattractive over the last 3 years. If you invest in a dooming economy, there always︁ are risks. But the food thing is that you get your citizenship right after the︂ investment, so you have it. They can take it back if you sell your investment︃ before the holding period ends but I would not expect them to cancel it is︄ they change the rules.

 

[EliasIT]

You can⁠ post such links freely here and would help for a better understanding of your question.⁤

 

[TheGlobetrotter]

https://www.imidaily.com/europe/tur...they-claim-there-are-at-least-half-a-million/

 

[Martin Everson]

I don't know if their case‍ is with merit but timing is off. Now is probably not time for Turkey to⁠ chase off CBI investors who took the plunge. But hey nationalists around the world have⁤ no idea about economics - ask those who voted for Brexit 😕.

 

[Frankie]

Play stupid games⁠ in zero rule-of-law countries, win stupid prizes

 

[TheGlobetrotter]

The question that arises to me is which other CBIs can be canceled anytime ?‌ As far as I know there are not many countries where one can not be‍ stripped of his citizenship (only Argentina and Brazil come to my mind now). What if⁠ one of the Caribbean decides tommorow to cancel all citizenship. What are we paying for⁤ exactly for when we are buying a CBI ?

 

[JohnLocke]

You can post such links with‍ pleasure. Only advertising for your own companies and businesses is not allowed, as this falls⁠ under the category of advertising.

 

[Martin Everson]

All can depending on reason.

Correct, even⁤ UK can strip your citizenship these days even if you are born there and that's⁣ only passport you have if they believe you can obtain a new passport from your⁢ parents place of origin.

Your paying for citizenship and a willing ability to accept︂ a small risk you could lose that entitlement at any point. There is no 100%︃ certainty when it comes to CBI's unfortunately.

 

[JohnnyDoe]

I agree in principle that CBI programs should not exist. But from a practical perspective, why should a state not take money from those who are happy to be scammed?
After all, how many times, for example, Argentina has defaulted? 9? And investors keep buying their bonds rof/%

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[Watchingtheweasels]

For better or worse any government can unilaterally decide what to do with citizenships it grants,⁣ from something like an exit tax to discourage you from leaving to revocation.

As far⁢ as "whar" you are buying, you are buying naturalization (with money instead of time) which︀ allows you to apply for a passport.

 

[TheGlobetrotter]

I do⁤ not think that this is how the law system in civilized contry works. This type⁣ of decision needs some legal justification. If you read the article, the argument should be⁢ that the CBI is not constitutional. I guess what I am asking is : why︀ doesn’t Turkey just go through the constitutional court with this problem and get a definitive︁ decision ? They are having at the moment according to some reports about 50 %︂ of the global CBI market , bringing multiple Billions per year, so why aren’t they︃ doing anything to ease up the mind of investors?

 

[Martin Everson]

Investors that can⁠ afford this passport have multiple options for CBI. I don't think it would be much⁤ of a mental burden for many to just move on if it goes pear shaped⁣ on them unless they are from certain countries.

 

[Wellington]

Get rid of your other balls and chains︀ and that one can’t be removed as you can’t be made stateless

 

[Watchingtheweasels]

In the end, what we call "the rule of law" is merely a written︁ expression of political will. Even within the countries of the "rules based order", law has︂ been used as a justification for all sorts of things throughout history. I would much︃ rather have a country with which I was culturally compatible be my primary residence than︄ to take up residence somewhere that was radically different and rely on the rule of︅ law to protect my interests.

 

[bubbledouble]

very well said !