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Schengen Visa Guide

Is Schengen Travel Insurance Refundable?

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Is Schengen Travel Insurance Refundable?

Is Schengen Travel Insurance Refundable? In the realm of international travel, securing the appropriate insurance coverage is a crucial aspect, particularly when it comes to Schengen visa applications. A common query among travelers is whether Schengen travel insurance is refundable, and the answer lies in the eventuality of a visa denial.

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Is Schengen Travel Insurance Refundable?

Schengen travel insurance, often chosen for its comprehensive coverage, becomes a pertinent consideration if unforeseen circumstances lead to a visa rejection. In such cases, individuals have the option to seek a refund for their Schengen Low-Cost insurance.

Here’s a closer look at the key aspects to understand regarding the refundability of Schengen travel insurance:

The Connection Between Visa Denial and Refund Eligibility

The correlation between Schengen visa denial and the potential for a refund hinges on the insurance policy chosen. It’s crucial to opt for a Schengen Low-Cost insurance policy that explicitly outlines its refund conditions in case of a visa rejection.

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Initiating the Refund Process

If your Schengen visa application faces an unfortunate denial, the next step is to initiate the refund process for your travel insurance. Contact the insurance provider promptly and follow their specific procedures for refund requests.

Terms and Conditions

Carefully review the terms and conditions of your Schengen Low-Cost insurance policy to grasp the nuances of the refund process. Policies may vary, and understanding the details is imperative to ensure a smooth and efficient refund application.

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Documenting the Visa Denial

Insurance providers typically require documentation proving the visa denial. This may include official communication from the embassy or consulate detailing the rejection. Ensuring you have these documents in order will expedite the refund process.

Timelines for Refund Processing

Understanding the timelines involved in the refund processing is essential. Different insurance providers may have varying turnaround times for assessing and disbursing refunds. Stay informed about these timelines to manage expectations accordingly.

Additional Considerations

Some Schengen travel insurance policies may have specific clauses or conditions regarding refund eligibility. For instance, certain policies might cover only a portion of the insurance cost rather than the full amount. Familiarize yourself with these nuances to avoid any surprises during the refund process.

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Conclusion

The refundability of Schengen travel insurance in the event of a visa denial is contingent upon the specific policy chosen. It is crucial to thoroughly understand the terms and conditions, initiate the refund process promptly, and provide the necessary documentation for a smooth and efficient reimbursement process. By being well-informed, travelers can navigate the complexities of insurance refunds in the face of unforeseen visa rejections.

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Schengen Visa Guide

Turkey Citizenship by Investment | Turkey Golden Visa

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Turkey Citizenship by Investment | Turkey Golden Visa

Turkey Citizenship by Investment | Turkey Golden Visa. In 2016, the Turkish citizenship by investment program (often referred to as a Turkey Golden Visa) was launched. It enables foreign investors to obtain a Turkish passport within three to six months.

Real estate investments worth at least $250,000 are the minimum investment option. Other options include investing in government bonds or establishing an enterprise that will create jobs for Turkish citizens.

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Turkey Citizenship by Investment Options

You can obtain Turkish citizenship by investment in the following ways:

  • Invest at least $250,000 in real estate
  • Invest at least $500,000. Hold government bonds for at least three years.
  • A minimum of 50 employees will be needed to establish a company.
  • A minimum investment of $500K is required.
  • Make a minimum deposit of $500,000. Keep it for a minimum of three years in a Turkish bank.
  • Over a three-year period, invest at least $500,000 in a real estate investment fund or venture capital investment fund.

Benefits of the Turkey Investment Visa

For foreign investors, Turkey offers many advantages, including:

  • Turkish passport in as little as three months.Within three to six months after making your investment, you can apply for Turkish citizenship.
  • Immediate permanent residence and citizenship in Turkey. When you apply for a Turkish Investment Visa, you will receive a permanent residence card, which you can use to live and invest in Turkey.
  • Pathway to the US E2 Investment Visa.If you are a Turkish citizen, you can apply for the US E2 Investment Visa, which allows you to live, invest, and work there.
  • Business opportunities in EEC (European Economic Community) countries. The Ankara Agreement allows Turkish citizens to work, establish a business, and permanently move to an EEC country. Though a visa is required, the application procedure is easier than in other countries.
  • Pathway to the UK’s Turkish Businessperson visa.The Turkish passport enables you to set up a UK business and obtain British permanent residence through a facilitated pathway.
  • Visa-free entry to over 110 countries. You can visit more than 110 countries without a visa as a Turkish citizen, including Mexico, Japan, South Korea, and Hong Kong. Turkish citizens are also being considered for Schengen visa liberalization.
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Residency Requirements

You can obtain Turkish citizenship as an investor six months after making an investment, without ever living in Turkey.

In addition, you can hire representatives to handle your investment, visa application, and citizenship process, such as the advisors and legal experts at La Vida – Golden Visas. As such, you do not have to be in Turkey for your investment and visa application, if you so wish.

In some cases, however, you may need to enter Turkey in order to oversee your investment. For example, if you are purchasing real estate, then you will need to inspect the property or compare different options.

Who Can Apply for a Turkey Investment Visa?

If you meet the following criteria, you may apply for a Turkey Investment Visa:

  • You are an adult.
  • No criminal record exists for you.
  • You have never stayed in Turkey illegally.
  • Due diligence has been completed on your investment.
  • Your funds have been legally obtained.

How to Apply for a Turkey Investment Visa?

To apply for a Turkish Investment Visa, follow these steps:

  1. Make an investment that qualifies.It’s important to talk to your advisors (like those at La Vida – Golden Visas) to determine which investment is best for you.
  2. Obtain a Certificate of Eligibility.There are different authorities responsible for issuing a certificate of eligibility depending on your investment. In the case of real estate investment, you must contact the Turkish General Directorate of Land Registry and Cadaster of the Ministry of Environment and Urbanization.
  3. Open a Turkish bank account. It is necessary for you to open a bank account in Turkey, where you can deposit your money. Your advisors and legal representatives can help you open the account.
  4. Apply for a Turkish residence permit. You can apply for a residence permit at the Turkish Provincial Directorate of Immigration Administration once your investment is approved. Your residence permit will be issued immediately, so you can live in Turkey while you finalise your investment and apply for citizenship.
  5. Make your investment.The citizenship application requires you to finalize your investment and collect all required documents, certificates, translations, etc.
  6. Apply for Turkey citizenship. After you have made your investment, you can apply for Turkish citizenship at the Provincial Directorate of Census and Citizenship. This application usually takes four months to process.
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Where to Receive Certificate of Eligibility for Turkey Investor Visa?

You must apply to the following institutions (based on the nature of your investment) to obtain a Certificate of Eligibility for investment in Turkey:

  • For investment in real estate: The Turkish Land Registry and Cadaster is administered by the Ministry of Environment and Urbanization.
  • For a capital investment: Turkish Ministry of Industry and Technology Incentive Application and Foreign Capital.
  • For a deposit in a Turkish bank account: Regulatory and Supervision Agency’s Department of Financial Consumer Relations.
  • For an investment in government bonds: The Turkish Ministry of Finance and Treasury.
  • For purchasing real estate investment fund share or venture capital investment fund share: The Brokerage Activities Department of the Turkish Capital Markets Board.
  • For establishing a company that will employ at least 50 people; The General Directorate of International Labor of the Ministry of Family, Labor and Social Services is responsible for this area.

Family Members of Turkey Investor Visa Applicants

The following family members can be included in your Turkey Investor Visa application:

  • Your spouse or partner.
  • Children under the age of 18.
  • Financially dependent children up to the age of 21.
  • Elderly parents who are dependent.
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Documents for Turkey Investor Visa Application

In order to apply for a Turkey Investor Visa, you will need the following documents:

  • Passport (for each applicant).
  • Proof of having made the necessary investment.
  • A Turkish Tax Number.
  • Document proving you have never stayed in Turkey illegally.
  • Tax and fee receipts for Turkey Investment Visa applications.
  • Background checks (for each applicant).
  • Birth certificate (for each applicant).
  • Passport-size pictures (for each applicant).
  • Marriage certificate (if applicable).
  • Divorce certificate (if applicable).
  • Death certificate (if applicable).
  • Proof of health insurance that’s valid in Turkey (for each applicant).

The Validity of Turkey Investor Visa

Following your investment, you can apply for Turkish citizenship, which is granted for life, and a Turkish passport. You must renew your passport every ten years.

Does Turkey Allow Dual Nationality?

In Turkey, dual nationality is allowed for investors. You can maintain your current citizenship while acquiring a Turkish passport.

A dual citizenship must, however, be allowed by the nationality laws of both countries.

Before obtaining a Turkish passport, you must renounce your current citizenship if it does not allow dual citizenship.

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Going From Turkey Investor Visa to the US E2 Investment Visa

The Tukey Investor Visa makes you eligible for the US’s E2 Investment Visa. The US has a treaty with 78 countries (including Turkey) which grants applicants an E2 Visa in exchange for an investment of $100,000 to $200,000.

Although the E2 Visa is non-immigrant (does not grant a Green Card), it is a five-year visa that can be renewed indefinitely. Since the E2 visa requires only $200,000, as opposed to $900,000, it is more desirable than the EB5.

Because investors can obtain Turkish citizenship relatively quickly by investing in Turkey, many investors who wish to enter the US choose to go through this process: invest in Turkey, get a Turkish passport, apply for an E2  Visa.

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Conclusion

In summary, the Turkish Citizenship by Investment program, commonly known as the Turkey Golden Visa, was initiated in 2016, providing a swift route to Turkish citizenship within three to six months for foreign investors. Options include real estate investments of at least $250,000, government bond holdings, or establishing enterprises generating jobs for Turkish citizens. The benefits encompass visa-free travel, immediate permanent residence, and pathways to US E2 Investment Visa and business opportunities in European Economic Community (EEC) countries.

The process involves qualifying investments, obtaining a Certificate of Eligibility, opening a Turkish bank account, applying for a residence permit, making the investment, and finally, applying for Turkish citizenship. Dual nationality is permitted, allowing investors to maintain their original citizenship while acquiring Turkish citizenship. The Turkish Investor Visa also serves as a pathway to the US E2 Investment Visa, providing a strategic route for international investors.

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