In June 2022 Turkey made changes to its Turkish Citizenship by Investment program that allowed new purchasers to become citizens for only 400,000 USD – making it one of the, if not among the most accessible and attractive citizenship by investment programme worldwide. When the program was first established, the limit was set at 1,000,000 USD.
Since then, thousands of new buyers have applied for and received Turkish Citizenship by investing in real property in Turkey. This blog will walk you through the process from A-Z , including all the requirements as well as the official procedure. what benefits are there to being granted Turkish Citizenship via property investment.
What are the advantages from having Turkish Citizenship?
Children and spouses of the applicant The spouse of the applicant, as well as any children who are younger than 18, will also have the right to Turkish citizenship under this scheme. Any children born after will receive citizenship through birth. For those who are over 18, must become citizens by themselves.
Dual Citizenship Dual Citizenship Turkey allows Dual Citizenships, meaning that you are able to keep your citizenship and citizenship without having to give anything up to qualify when you purchase real estate.
Visa-free travel is available to those who hold an ordinary Turkish Passport are able go to more than 104 nations with needing a visa, or obtain a visa upon arrival. This puts the Turkish Passport among the top 30 of the most strong passports in the world. A Turkish Passport can be renewed every 10 years.
You can work in Turkey If you are a citizen of Turkey, you are able to work freely in Turkey. Prior to that, a permit for work would be needed. Citizenship allows you for people to live in a nation that is the gateway into Europe along with Middle East. Middle East.
Healthcare, insurance as well as bureaucratic ease As a citizen, you’ll have access to cheaper healthcare options and insurance coverage in Turkey. Additionally, you will have the right to vote in the national elections. You also be eligible for a state pension and are eligible to get Turkish loans.
There is no residency requirement at all. Citizenship is the right to come and go from Turkey whenever you want with no risk of losing citizenship. It is not necessary to remain in Turkey after you have earned the citizenship.
You are able to relocate to the UK If you are you are a Turkish national, it is possible to work and live at a job in UK. United Kingdom with relative ease since you can apply for an Business Person visa, and possibly even gain British citizenship later. This is a major benefit of the investment programme.
Employment in United States United States – Another option for Turkish citizens is to apply for their E-2 investor visa in order to make it easier to move towards the USA. If your dream is to reside in the US, Turkey is a great option on that path through the real estate option.
There is no military requirement – Anyone who invests and moves to Turkey the investment programme, are exempt from the mandatory military service. Your dependents are also exempt.
Citizenship as well as Superb inheritance laws – One advantage to this is Turkish law protects you and your legal beneficiaries in the unlikely case of your death. It ensures that your property will pass smoothly on to your grandchildren in the future, with not any hassles.
How to get Turkish Citizenship through investment in property guide?
Step 1. Obtain a Turkish Tax Registration Number
You can obtain a Tax Registration Number at any branch of the tax office in Turkey by presenting your passport. Photocopies and a photocopy are required.
Step 2 – Open a bank account in Turkey
It is important to have a passport as well as a Tax Registration Number are required to create a bank account within Turkey. You will also need an official document such as the utility bill which shows your current address within the country.
Step 3 – Find an asset worth at least 400000 USD.
The property must not be less than 400,000USD. It can be a one-time property or a number of units like those that invest in apartment buildings in Turkey. The home is required to be near finished or have been completed by having an Habitation Licence granted and a Title Deed as well as Construction Servitude available. It must be suitable to be assessed by an official in order to obtain citizenship.
Step 4 – Purchase the property in Turkey
It is necessary to purchase the property with a Bank Transfer with document and payment receipt. The Title Deed Registry or Notarised Sales Contract has to be notarized to declare that the property won’t be sold in 3 years after the purchase. After three years are up then you are able to sell all your investments in Turkey and keep your citizenship for life.
Step 5: Obtain the Certificate of Conformity
The process involves submitting with the Official Valuation Survey and submitting the receipt of the Bank Transfer to the Ministry of Environment and Urbanisation.
Step 6 – Request for Turkish Residency
Apply for Turkish residency at the Directorate General of Migration Management after you have all the documents required. The first step towards obtaining citizenship.
7. Apply to apply for Turkish Citizenship through Investment guide
Now , you are able to make an application for Turkish Citizenship through the Directorate General of Migration Management upon receiving your Turkish Residency and gathering all the documents required to complete the process. Now you are able to apply for Turkish Citizenship.
Documents required to apply for Turkish Citizenship?
Copy of birth Certificate – Each certificate needs to be authenticated by stamping and stamping from your country’s Ministry of Foreign Affairs and the Turkish Embassy in your country or you can Apostille the papers according to the Apostille Convention (Hague Treaty Convention 12)
– Marital Status – This includes Marriage certificates, divorce papers, or death certificate of spouse if widowed. Each certificate has to be authenticated and stamped with the stamp of your home country Ministry of Foreign Affairs and Turkish Embassy or Apostilled according with the Apostille Convention (Hague Treaty Convention 12)
Biometric pictures 4 Biometric images with a white background sized 5 x 6 for ALL family members applying along with 8 additional Biometric pictures regular-sized and with a white background to be used by the main applicant only.
Copy of the original Passport
– – Power of Attorney issued
– Receipt of Wire Transfers
– Proof of Address/ Certificate of residence / Proof of Address – Real Estate Proof of Address must be issued by a government institution. Utility bills or bank statements will not be accepted. Each certificate must be authenticated and stamped by your home country’s Ministry of Foreign Affairs and the Turkish Embassy or Apostilled according in the Apostille Convention (Hague Treaty Convention 12)
All application forms must be filled in
Other methods to obtain Turkish Citizenship through investing?
1. Ensure employment for minimum 50 individuals in Turkey
2. Fixed Capital Investments of at most 500,000 USD
3 – Buy State Dept Instruments worth 500,000 USD
4 – Deposit at least 500 000 USD in an Turkish Bank
Five – Venture Capital Investment Fund worth $500,000 USD
Take note that all the options above will cost more than double the cost of acquiring citizenship through investing in real estate.
Why invest in Turkey?
The climate is fantastic – Certain cities in Turkey offer more than 300 days of sunny weather year round. buying a house in Bodrum to fulfill the requirements for citizenship can also provide a luxurious lifestyle for those seeking glitz and glamour. Antalya is a perfect year-round working atmosphere, beaches, mountains, and even skiing. Real estate in Fethiye is a favourite amongst British buyers. It is also the home of the stunning Blue Lagoon at Oludeniz.
In between East and West – Turkey serves as the bridge that connects two worlds, East and West, and provides unbeatable possibilities for business and travel. A property purchase in Istanbul is your entrance into Turkey’s metropolis gateway.
Family-friendly and safe Family-friendly Turks are famous for their hospitality and warm to foreigners and foreigners as well. Anyone who lives in Turkey or buy real estate can do so in a safe and comfortable environment. There are some of the best international schools for your children along with shopping malls that have branded stores full of stores, and other facilities to use.
Turkish food is delicious. Turkish cuisine is one of top quality in the world. It is renowned for its delicious flavours and delights, Turkish cuisine will have you coming back to Turkey often for a taste of kebabs or indulge in fresh fruits and colourful food, whether you’re enjoying street foods in Istanbul or indulging in gourmet meals in a seaside restaurant.
Turkish healthcare is affordable and provides excellent medical facilities, Turkey is fast rising as one of the worlds leading destinations for healthcare and medical tourism, with five-star hospitals throughout the country as patients regularly go to surgeries at a fraction of the cost in their home countries.
Regional powerhouse Regional powerhouse Turkey is at the forefront of developed nations within the region. As a EU Candidate Country as well as a G20, NATO Member, things look positive for Turkey going forward.
Value for money due to the decline of the Turkish Lira, now is the ideal time to buy property in Turkey for a reasonable price. You can easily find an apartment or a four-bedroom home in some of the most sought-after spots in the country to meet the 400,000 USD threshold. Value for money also runs across the country, whether it’s real estate, lifestyle costs, or day-to-day expenses.
Turkish Passport for investment FAQ
How long does it take to get Turkish Citizenship through investing?
If you choose to use Property Turkey as your agent It typically takes 4 to 6 months to complete your process and obtain your citizenship in Turkey which is much quicker than other countries around the globe. For more information, call us or contact us to speak to one of Our team members.
Do I have to live in Turkey in order to maintain my passport? Turkish passport?
No. There is no requirement to reside in Turkey at a specific amount or even a certain number of days each year after you have completed your process.
Do I need to surrender my previous citizenship to become Turkish? Turkish citizen?
No. You can still keep your initial citizenship and passport as Turkey allows its citizens to possess dual citizenship.
My citizenship will expire in the future?
No. Once you have purchased the property and occupied it for a minimum of three years then your citizenship will be guaranteed indefinitely, because it will be guaranteed for your spouse and the children that were part of your original application.
Do I need to learn Turkish to be able to get the Turkish passport?
No. In contrast to some citizenship programs across the globe, you’re not required to study the Turkish language in order to be eligible. If you’re opting to stay in Turkey on a regular basis knowing the fundamentals of the language is highly advised for a smoother transition into the daily life of Turkey.
Can I get citizenship for my dependents and children?
Yes. If you invest in Turkey with a property valued at least 400,000 USD, you will be eligible to get an identity card for yourself, your spouse, and any children who are under the age of 18. Children who are above the age of 18 have to apply by buying a property in their name that is worth at least 400,000 USD.
What are the countries I can go to using the Turkish passport?
It is believed that the Turkish passport is incredibly strong. Currently you can travel visa-free to well over 100 countries in the world including Japan, South Korea, South American countries, and lots more. Being a Turkish Citizen also gives you the ability to connect to Canada, the US, UK, Canada, Australia, and the EU.
Do I have an obligation to reveal my riches to the Turkish authorities?
No, you do not. It is not required. Turkish tax authorities do not demand or inquire about your financial standing or your assets.
Are there any tax implications I should be conscious of?
Turkey has double taxation agreements with most countries in the developed world , as of 2021. Thus, if you’ve paid relevant taxes on income that you earn outside of Turkey then you are not likely being taxed under government officials of the Turkish government. Contact us now to speak with one of our Turkish tax specialist who will answer any questions that you might have.
Are there any nationals who aren’t able to apply for the Turkish citizenship by investment scheme?
According to Turkish law, citizens of certain countries are not currently able of applying for Turkish Citizenship. These are presently nationals of: Armenia, Cuba, Nigeria, North Korea, and Syria.
Can I make a payment in a currency other than Lira?
Yes. The amounts listed are in US Dollars. However, you can pay in any currency of your choice. It is essential to be aware of that exchange rates and fluctuations in currency when paying in a foreign currency.
Prime Property Turkey
Merkez, DAP Vadi, S-Blok, Ofis No:108-109, 34406 Kâğıthane/İstanbul, Turkey
+90 531 553 54 84
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