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]

TheGlobetrotter said:
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
Click to expand...

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

 

[EliasIT]

TheGlobetrotter said:
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.
Click to expand...

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

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[TheGlobetrotter]

EliasIT said:
You can post such links freely here and would help for a better understanding of your question.
Click to expand...

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

 

[Martin Everson]

TheGlobetrotter said:
what is your take on the declaration of the turkish nationalist party that they intend to cancel all CBIs?
Click to expand...

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 😕.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[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]

TheGlobetrotter said:
I am not sure I am allowed to post the link here but it's easy to find via google.
Click to expand...

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.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Martin Everson]

TheGlobetrotter said:
The question that arises to me is which other CBIs can be canceled anytime ?
Click to expand...

All can depending on reason.

TheGlobetrotter said:
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).
Click to expand...

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.

TheGlobetrotter said:
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 ?
Click to expand...

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

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[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/%

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Watchingtheweasels]

TheGlobetrotter said:
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 ?
Click to expand...

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) which allows you to apply for a passport.

 

[TheGlobetrotter]

Watchingtheweasels said:
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) which allows you to apply for a passport.
Click to expand...

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 : why doesn't Turkey just go through the constitutional court with this problem and get a definitive 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 they doing anything to ease up the mind of investors?

 

[Martin Everson]

TheGlobetrotter said:
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 they doing anything to ease up the mind of investors?
Click to expand...

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.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[wellington]

TheGlobetrotter said:
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
Click to expand...

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

 

[Watchingtheweasels]

TheGlobetrotter said:
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 : why doesn't Turkey just go through the constitutional court with this problem and get a definitive 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 they doing anything to ease up the mind of investors?
Click to expand...

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

 

[bubbledouble]

very well said !