Research Information System
V. International Conference on Economics, İstanbul, Turkey, 16 - 18 May 2024, vol.1, no.1, pp.101, (Summary Text)
Citizenship by Investment (CBI) programmes often known as golden visa schemes, although it varies from country to country, allow individuals to obtain citizenship or residency privileges in exchange for a significant financial investment in the country’s economy. One factor to consider is the instant influx of capital into the host country’s economy. Investors often make substantial financial contributions, which can be used to fund a variety of development projects, infrastructure improvements, or to encourage vital industries such as real estate, tourism, and technology. CBI programmes frequently attract wealthy individuals with valuable talents, expertise, and business networks. These individuals may decide to start or expand their businesses in the host country, resulting in job creation, knowledge transfer, and innovation. However, it is critical to recognise potential obstacles and concerns related with CBI programmes. Critics say that these schemes can exacerbate socioeconomic inequality by directing wealthy individuals’ investments to specific places while causing commodification of citizenship. Furthermore, there are issues about transparency, security, and potential abuse, such as money laundering and tax evasion. Relying on CBI programmes to drive economic growth may be risky, especially if the investments are not well managed or if foreign capital inflows are overly reliant. This study aims to explore economic progress of countries with CBI programmes to understand their long-term implications and ensure that whether these programmes are designed to promote inclusive and sustainable development or not. Keywords: Citizenship by Investment (CBI), Economic Citizenship, Economic Growth, Globalization JEL Codes: F21, F43, F6