EB5 Investors Magazine Volume 7, Issue 2 | Page 119

in many parts of Europe, grew to one of the largest empires in the world between the years of 1300 to 1900. The Ottoman Empire at its height included most of the Balkans and the Eastern European countries and to the East most of the Middle Eastern countries and its borders ended at modern day Iran. MIGRATION FROM TURKEY geopolitical issues and the devaluation of the Turkish Lira have both been catalys ts at inc reasing Tur k ish immigration to the U.S. and more specifically using EB-5. Turkey has been a steady E-2 market and many EB-5 investors from India, Vietnam and China have used the Turkish E-2 as a gateway into the U.S. EB-5 market while they are awaiting their EB-5 petitions. Historically, Turkish investors looking at investment immigration programs have lo o ke d a t ma ny Eu ro p ea n programs, including the U.K., although geopolitical reasons have kept them mostly out of the Greek and Cyprus investment immigration programs. "In the U.S., the top destination for Turkish immigration have always been New York and Southern Florida." In the aftermath of World War II, many Turks immigrated to Germany and helped rebuild Germany’s infrastructure, roads, and businesses, given that many German males were killed during World War II. Turks have also historically immigrated to other European countries, mainly the United Kingdom and the United States in the last 40 years. In the U.S., the top destination for Turkish immigration have always been New York and Southern Florida. Many wealthy Turks have invested in real estate in Miami and New York and those two markets have always been the top choices as well as the top vacation destination for Turkish citizens. TURKISH IMMIGRATION REASONS AND THE EB-5 MARKET IN TURKEY Although the total number of Turkish EB-5 investors over the last few years has been around 50 investors annually, recent CURRENCY RESTRICTIONS IN TURKEY Although there are no currency restrictions and EB-5 investors can transfer unlimited sums of dollars out of Turkey, some Turkish investors choose not to send a wire transfer from their banks as they many not want the Turkish government to know they are leaving Turkey, especially if they are looking to leave Turkey due to political issues. Many Turkish investors wire funds to U.S. escrow banks as direct wire transfers. Others choose to use crypto currencies or funds transfer agents if they wish to apply for the EB-5 program discretely and anonymous to their home country. EB5INVESTORS.COM 119