For Turkish businesspeople, the Schengen visa has become more than just a stamp in a passport - it’s a crucial key that unlocks access to the international business world. Offering freedom of movement across 27 European countries, the Schengen visa opens doors to new opportunities in trade and investment. However, the recent surge in visa rejections has pushed many to seek alternative solutions.
 

Schengen visa rejection rates for Turkish applicants have sharply increased - doubling from 2019 to 2023. Countries like Estonia, Finland, Belgium, and Denmark now reject over 50% of applications. As rejection rates climb, Turkish citizens are increasingly turning to long-term alternatives, with the Golden Visa emerging as a top choice.
 

Vesta Global Co-Founders Teuta Narazan and V. Armağan Akyüz have weighed in on this shift, noting that visa challenges have spurred demand for second passports among Turks. “The rise in visa rejections is significantly affecting Turkish businesspeople, especially those engaged in trade with the EU,” said Narazan. “As a result, demand for alternative passports has grown. The Golden Visa offers an effective response to this demand. By investing in real estate abroad, Turkish investors can secure both travel freedom and valuable business opportunities. Residency programs offered by EU countries provide major benefits - not just for travel, but also for commerce and entrepreneurship.”
 

Narazan emphasized that for Turkish professionals, the Golden Visa is far more than a travel document. It’s a strategic tool that enhances global mobility and competitiveness. “We've seen a 40% increase in the number of Turkish citizens acquiring property abroad,” she noted.