Turkey citizenship by investment, who is eligible, and how to get it;
Investors often buy real estate for $400,000 or more to obtain a passport.
Registration status of status takes from two to six months.
The investment can be returned in three years.
Benefits of Turkish citizenship:
Turkey is known as a resort country with a mild climate, stunning nature, and rich cuisine. But benefits are not only in the weather, culture or rich cuisine. Investors become Turkish citizens to get the prospects of profitable investments, business development, and the purchase of the liquid real estate.
- Travel without visas – Turkish citizens travel without visas to 110 countries, among them are Japan, Singapore, etc.
- Convenient conditions for becoming a Turkish citizen – All investors do not need to give up their current citizenship and do not take exams in the language or history of the country. Also, the investment program does not oblige the applicant to live in Turkey to maintain or obtain the status.
- Social guarantee – Turkish citizens get the opportunity to receive treatment in the country`s clinics or study at universities for free. There are also no restrictions on the inheritance of real estate and assets.
- The prospect of becoming a citizen of the European Union – Turkey claims to join the European Union and is negotiating visa-free travel to the Schengen area.
Who can get Turkish citizenship by investment;
A foreigner who has not been convicted has not violated Turkish immigration laws and has fulfilled the conditions of the program can obtain Turkish citizenship.
Turkish citizenship is granted to the spouse of the investor and children under 18 years of age. Spouses` parents and adult children can get residence permits in Turkey. The payment for a residence permit is $5,000 per person.
If the adult children and parents of the investor have their sources of income, they cannot be included in the application.
How to get Turkish citizenship by investment;
You can obtain Turkish citizenship within two to six months. Among foreigners, Turkish citizenship by investment is in demand. This is how up to half of all applicants receive a Turkish passport. Over the past two years, over 45 thousand people have received Turkish passports in this way.
- Purchase of real estate worth $400,000 – This is the easiest and most popular investment option when applying. It is not necessary to buy one object, you can buy several apartments with a total cost of over $400,000. The only condition: no more than two months should elapse between transactions.
- A deposit in a bank of $500,000 or more – You can save your money in any currency accepted by the Turkish bank. the average interest in deposits in Turkish lira in the period of 2020-2021 is from 6.75 to 15.5%, in dollars from 0.9 to 1.5%.
- Purchase of national securities from $500,000 – Government bonds and bills as well as shares of investment funds specializing in real estate or venture capital investments.
- Purchase of government bonds for $500,000 – With an obligation to preserve assets for three years.
- Purchase of shares of investment funds for $500,000 – Specializing in real estate or venture capital investments, with an obligation to preserve assets for three years.
- Open a business with a capital of $500,000 – Or create at least 50 job places. Also, investments in Turkish citizenship are returnable. Three years after obtaining citizenship, you can sell the purchased papers or real estate or close to deposit.
Stages of obtaining Turkish citizenship by investment;
- Meeting the requirements of the program – Searching and buying real estate, starting a business, buying securities, or opening a deposit. Also to do it you will need to open a bank account and obtain a taxpayer number.
- Collecting the necessary documents – In addition to standard documents, a copy of a passport. confirmation of payment of state fees and photos, also you will need:
- A police clearance certificate
- A notarized permit for the processing of the applicant`s data by local officials. Thanks to it, the government will have an access to information about your bank accounts and assets also all information about the real estate you own so far
- Documents confirming the implementation of investments, for example, a certificate of conformity from the cadastral service, a market assessment report, an extract from a bank or investment fund, and constituent documents.
*!* Also the most important is all foreign documents must be translated into Turkish, notarized and apostilled.
- Obtaining a short-term residence permit – This document is issued without problems. It is enough to indicate the goal – to obtain investment citizenship.
- Applying for citizenship – At the Turkish registry office or the embassy abroad. To the already collected package of documents, you must add a copy of the residence permit and submit biometric data. The application is considered within three months.
- Obtain a Turkish passport – The applicant comes to Turkey and receives a passport. If this is not possible, the documents can be obtained by a lawyer.
Other ways to obtain Turkish citizenship;
- By marriage – After three years of marriage.
- By birth – Suitable for those who have at least one parent who is a Turkish citizen.
- By employment – After five years of work under a contract.
- By naturalization – After five years of living in Turkey. An important condition, during this time, you cannot leave the country for a total of more than six months. To apply, you will also need to prove knowledge of the Turkish language, have a job or prove a sufficient level of income.
- For special merit – For outstanding achievements in science, business, culture, or sports events.