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	Türkiye Europe	Grenada Central America & Caribbean	Panama Central America & Caribbean
Overview	Türkiye offers a range of residency routes from short-term tourist residency to longer-term investor / family / work routes. Bordercase coordinates with licensed Turkish lawyers for filings.	Grenada is a Caribbean jurisdiction with a Citizenship by Investment programme that uniquely supports US E-2 treaty access. Bordercase coordinates with authorised local agents.	Panama is a long-established jurisdiction for residency and offshore company structures with a stable USD economy. Bordercase coordinates with licensed Panamanian lawyers and corporate-services partners.
Best for	Citizenship by investment Cost of living Regional residency Families	Second passport US E-2 access English admin	Second residency USD economy Asset planning Holding structures
Currency	TRY	XCD	USD
Language	Turkish	English	Spanish
Time zone	UTC+3	UTC-4	UTC-5
EU member	No	No	No
Schengen	No	No	No
Residency	Türkiye residency routes: Short-term residence permit (1-2 years, renewable) Family permit Work permit - employer-sponsored Student permit Citizenship-by-investment via real estate or qualifying deposits / investments	Grenada routes: Citizenship by Investment (CBI) via fund contribution or qualifying real-estate investment Standard work permits Family routes	Panama residency routes: Friendly Nations Visa - now requires economic tie (employment, real estate, or investment) Qualified Investor Visa - qualifying investment thresholds Pensionado / Retiree Visa - qualifying pension income Family routes
Company setup	Limited Şirket (LLC) and AŞ (Joint Stock) are common structures. Notary registration, tax registration, and a tax representative are typically required.	Domestic companies and IBCs are common in international structures.	Panamanian corporations (SA) and Private Interest Foundations are widely used. Beneficial ownership reporting, CRS / FATCA compliance, and substance discussions have become material; planning must reflect current standards.
Banking	Personal banking for residents is broadly accessible; non-resident corporate banking has tightened. Source-of-funds and ownership clarity are central.	Banking is selective. Bordercase coordinates banking introductions through current partners.	Panamanian banking has tightened KYC and source-of-funds requirements. Non-resident applications take time; Bordercase coordinates introductions through current banking partners.
Family	Family reunification is supported on most routes. International schools (English, German, French, Italian) are available in Istanbul and Ankara.	CBI can include qualifying dependents.	Family reunification is supported on most residency routes. International schools (English-language and Spanish) are available in Panama City.
Risks	Risks Bordercase watches for in Türkiye: Restricted residency zones (some districts no longer issue short-term residency to foreigners) Currency volatility on investment routes Shifting policy on the citizenship-by-investment programme Banking documentation requirements tighten regularly	Risks Bordercase watches for in Grenada: Programme parameters change Due diligence has tightened Reputational and revocation risks if information is misrepresented	Risks Bordercase watches for in Panama: Reputational / de-banking risks for poorly structured offshore-only setups Tax residency analysis for clients with other obligations (CRS / FATCA) Processing delays at Migration UBO reporting is now active
Documents	Typical Türkiye documents: Passport Biometric photos Proof of address Proof of income or savings Health insurance Criminal record certificate Marriage / birth certificates for family Documents apostilled and translated to Turkish.	Typical CBI documents: Passport Due diligence questionnaires Source-of-funds evidence (extensive) Family certificates with apostille and translation	Typical Panama documents: Passport Criminal record certificate (apostilled) Proof of economic tie (employment letter, property deed, or investment evidence) Proof of address Marriage / birth certificates for family All documents apostilled and translated where required.

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