Turkey is one of the most highly rated and esteemed global countries.
It is well-known for its sound economic system and membership in the IMF, UN, NATO, G-20, and World Bank.
The Turkish citizenship by investment program is a Turkey Golden Visa, which existed in 2016. It enables foreign investors to obtain a passport within three to six months.
The minimum investment option is to buy property worth at least $400,000. There are also other choices, such as purchasing government bonds or starting a business that will employ Turks.
The investment holding minimum is three years.
The legal and immigration policies of Turkey allow applicants to become citizens. It is a transcontinental and ideal country for tourists and investors because of its easy process.
This article will explain all you need to know about Turkish citizenship by investment.
Turkish Citizenship Requirements
- Make a significant and tangible long-term investment in Turkey.
- Create employment opportunities in the county.
- Invest in shares of a venture capital investment fund or real estate investment fund with a minimum of $500,000 for at least three years.
- Acquire a certificate of the purchased currency.
- Must not be involved in illegal activities and maintain a crime-free record.
- Have health insurance coverage.
Process
- Apply for Turkey Tax Registration Number.
- Select the right property to purchase.
- Complete qualifying investment.
- All application documentation requirements should be satisfied.
- Request for Turkish residency.
- Apply for Turkish citizenship after approval.
- Processing takes between three to six months.
The benefit of Turkish Citizenship by investment
- It allows dual citizenship
- Dependents are spouses and children under 18 years.
- Its citizenship would last long and benefit future generations.
- Have the full right to live in Turkey.
- High-quality healthcare and education systems.
- Speedy processing.
- Visa-free entry and travel to over 110 countries.
- Easy acquisition of travel visas to Canada, the EU, the US, & Australia.
- Enables investors to submit a USA E-2 Visa application.
- There is no actual residency requirement.
- The language requirement is not necessary
- There is no need for education or managerial experience.
Investment Options in Turkey
There are three significant ways for foreigners to obtain citizenship by investing in turkey.
1. Real Estate
There are various ways to invest in Turkey real estate. An investor that wants to become a Turkish citizen should have a minimum of $400,000 in real estate.
However, property pre-approval is not necessary because it is not overvalued.
You may also purchase many properties as long as their total value is $400,000, but they must be in the same neighborhood.
2. Jobs Creation
Creating jobs for at least 50 Turkish citizens is another procedure to become a citizen. However, you must start and outsource a business to obtain Turkish citizenship.
It is advisable to seek legal backup and aid, considering the costs of establishing and maintaining a firm.
Hence, employ local workers and operate a lawful international company if you wish to know more about Turkey’s business environment.
3. Capital Transfer
Foreign investors can invest capital even if they don’t want to deal with the business world or invest in real estate.
The current minimum capital investment requirement for Turkish citizenship is $500,000.
What to do with this money?
Save it in a Turkish bank.
Make investments in government bonds
Invest in fund shares.
Maintain investment for three years.
3 Steps to Achieve Turkish Citizenship by Property Investment
The following list below is the significant ways to apply for Turkish citizenship by property investment.
1. Acquire a Certificate of Conformity
A certificate of conformity will be received from the General Directorate of Land Registry and Cadastre when the title deed is transferred with;
- Bank transfer receipts
- Report on real estate valuation for obtaining Turkish citizenship.
2. Turkish Residence Permit Application
You need to apply for the Provincial Migration Administration along with the required document if you want a Turkey resident permit.
The investor can renew the residence permit till the citizenship process is finalized.
3. Application for Turkish Citizenship
The application can be completed when you apply for citizenship in Turkey through investment.
Along with the residence permit and all other documentation received by the General Directorate of Population and Citizenship Affairs.
The competent authorities will evaluate your application after submission.
President Recep Tayyip Erdogan signs the citizenship application once it is eligible, marking the end of the Turkish citizenship application process.
Reasons for Foreigner’s Property Restrictions
When the foreign investor country is one of those countries that are restricted from purchasing real estate in Turkey, as stated in Article 35.
Foreign investors are only permitted to purchase real estate within the bounds of the legal constraints introduced by Article 35 of the Land Registry Ordinance 2644.
Foreign investors can not purchase military forbidden zone property.
The total surface area of private property in the subject district to be bought by foreign investors should not exceed 10%.
The President has designated specific locations as strategic sectors and special security zones where foreign investors are not permitted to purchase real estate.
Article 35 of the Land Registry Law No. 2644, as amended by Law No. 6302, says that;
Foreigners looking forward to becoming Turkish citizens, as defined by the President, where international bilateral relations and interests of the country are necessary, may result in property and limited rights in Turkey.
Provided that legal restrictions are complied with.
Citizens of the specified countries are exempted from acquiring separate residency permits to acquire property and rights.
Conclusion
Turkey is a lovely country with many benefits for its citizens and foreigners.
Starting from a splendid atmosphere, good job opportunities, luxury things, and a welcoming country.
Turkish citizenship by investment program became well-known due to the massive success of Spain, Portugal, and Greece residents.
Moreover, Turkey’s role as Europe and Asia market gateway is the main factor that motivates foreigners to apply for investment visas.