Turkish citizenship by investment: advantages, investment options and how to apply
Foreigners who choose Turkey for citizenship by investment can benefit from a successful real estate market and a strong economy. Learn more about the procedure for obtaining Turkish citizenship by investment and the requirements for the investor and his family
The program for obtaining Turkish citizenship by investment is one of the most popular in the world. Together with the investor, members of his family can get Turkish citizenship.
In general, five types of investments are available in the state: buying real estate, government bonds or shares in investment funds, placing a deposit in Turkish banks or starting a business.
Turkish citizenship has many advantages: simplification of visa requirements, the opportunity to live in a highly developed country with a stable economy, profitable investments, because real estate prices in Turkey grow by 15-25% per year, etc.
In this article, we talk about the advantages and the procedure for obtaining Turkish citizenship by investment.
History of the Turkish citizenship by investment program
The Turkish citizenship by investment program was approved in 2017. However, the minimum investment amount was $1,000,000. Due to the high cost, only 70 investors received a Turkish passport in the first year.
Over the next 5 years, the Turkish government constantly worked on improving the procedure. The minimum investment amount of $400,000 was approved in June 2022. The latest changes to the program took effect on January 1, 2023.
During the entire period of the program, more than 35,000 foreigners became citizens of Turkey.
Immigration to Turkey: what to consider before moving to Turkey from the UK - read here.
What will an investor get when investing $400,000?
● Visa-free travel to 110 countries, including Hong Kong, Malaysia, Japan, Singapore and South Korea.
● Simplified conditions for obtaining a Schengen visa - citizens of Turkey can obtain a Schengen visa C-2 for 5 years. The visa allows citizens to stay in the Schengen countries for up to 90 days every 180.
● The E-2 business visa to the USA entitles the investor and his wife or husband to work in the USA, children can study in American schools and enter universities. It is worth noting that the visa is non-immigrant, you will not be able to obtain US citizenship. To obtain this visa, a Turkish citizen must open a company in the US or invest in an existing business. The minimum investment amount is not established, however, to reduce the risk of rejection, lawyers recommend investing from $100,000.
● Tourist visa to the USA (B-1/B-2) – citizens of Turkey can issue it immediately for 10 years. It gives the right to visit the United States for the purpose of tourism, treatment or for conducting business meetings. It is impossible to get a work permit based on a visa. You can apply for a visa at the US consulates in Turkey (in Ankara or Istanbul).
● A second country to live in – investors can come to Turkey at any time, even if the borders are closed (as was the case during the Covid-19 pandemic). Second citizenship gives the right to live, work, study and do business in Turkey without restrictions. Having a country to save is important in case of an emergency: a political crisis, an epidemic or a threat to the safety of family members.
● Profitable investment and the prospect of investment return – investment in the Turkish economy can be quite promising, because, for example, the cost of Turkish housing has increased almost 6 times since 2015. The investor can return the money three years after obtaining Turkish citizenship - by selling investment real estate. There are no sales restrictions.
● A simplified path to Turkish citizenship – participants in the citizenship-by-investment program do not need to fulfill the requirements for obtaining citizenship through naturalization – passing exams or living in Turkey.
● The right to retain the citizenship of the country of origin – Turkey allows its citizens to hold multiple citizenships. Investors and their family members may retain previous passports if permitted in their countries of origin.
● The investor and his children are released from military service.
● Simplified taxation system.
Can anyone get citizenship for investments?
To be eligible for Turkish law registration, you must meet the following requirements:
- Age over 18 years.
- Invest at least $400,000 in real estate (or $500,000 in other available ways).
- The investor and his family members must not have criminal convictions and serious illnesses
- You must commit to holding your investment for at least three years.
- The funds you use for your investments must be obtained legally.
- The age of children is up to 18 years.
Investment options for obtaining Turkish citizenship
The Turkish citizenship by investment program offers five investment options:
1. Buying real estate (investment amount from $400,000) – this investment method is preferred by 95% of investors, because prices on the Turkish real estate market are constantly increasing, on average by 15-25% per year. To participate in the program, it is necessary to purchase housing, a commercial object or a plot of land. Also, Turkey does not limit the choice of the region of the location of real estate, its age and the number of objects. The main thing is to make the minimum amount of investment.
2. Business investment (from $500,000) – create your own company (at least 50 jobs) or invest in a Turkish company. After three years, the investor will be able to sell his share in the business.
3. Bank deposit (from $500,000) - put money on deposit in a Turkish bank, you can withdraw it only after 3 years.
4. Purchase of government bonds (from $500,000) - bonds can also be sold after 3 years.
5. Purchase of shares in an investment fund (from $500,000) - the advantage of this investment method is the possibility of receiving passive income. Shares can also be sold after 3 years.
The procedure for obtaining Turkish citizenship by investment
You can become a citizen of the country only 6 months after purchasing real estate worth at least $400,000. The entire process of obtaining Turkish citizenship by investment can be divided into 5 stages:
1. Consult with a professional lawyer about your future investment and the procedure for obtaining citizenship - this will help you choose the most profitable investment methods, find out the total cost of obtaining citizenship, determine the risks of refusal and prepare a decision in advance.
2. Apply for a certificate of compliance. Before you can invest in the Turkish economy and apply for citizenship, you need to apply for a Certificate of Eligibility. The institution responsible for issuing your certificate of compliance depends on the type of investment you are making - it could be the Ministry of Environment and Urbanization, the Ministry of Finance of Turkey, the Financial Services Consumer Affairs Agency, the Banking Regulation and Supervision Agency, etc.
3. Prepare documents and make a contribution (buy real estate, open a deposit, register a business, etc.).
4. On the basis of investment, issue a residence permit. The residence permit allows you to stay in Turkey until you have fully completed the investment process and obtained Turkish citizenship. As a general rule, you must apply for a residence permit in Turkey at your local immigration office.
5. Apply for Turkish citizenship. You must apply to the provincial Census and Citizenship Office. They will issue your citizenship file and send it to the General Directorate of Civil Registration for Citizenship (NVIGM).
An approximate list of documents for obtaining Turkish citizenship by investment
Together with the application for a Turkish golden visa, it is necessary to provide:
- Passport. If you are applying as a whole family, submit the passports of each family member.
- Turkish tax number. You must obtain a tax number in Turkey (from the local tax office).
- Proof that you have never been in Turkey illegally.
- Certificate of no criminal record - this also applies to family members who apply together with you.
- Confirmation of investments. Depending on the type of your investment, you must submit the necessary documents and certificates that prove that you have made or committed to make your investment.
- Birth certificates of all applicants.
- Passport size photographs of all applicants.
- Depending on your status: marriage certificate, divorce certificate, death certificate.
- Any additional documents required by NVIGM.
The Turkish citizenship by investment program has many advantages for both the investor and his family. If you have decided to radically change your life, then you should definitely consider moving to warm, hospitable and economically developed Turkey.
E-Devlet: How to join Turkey's e-government service portal - read here.
Investing in Turkey: the best opportunities for foreigners - details here.
Read here how to make an appointment at a public clinic in Turkey.
Read more about how to choose an insurance policy for obtaining a residence permit here.
Read here what to do if your application for a temporary residence permit in Turkey was rejected.
Products from Visit World for a comfortable trip:
Checklist for obtaining a visa and necessary documents in Turkey;
Personal lawyer services in Turkey;
Insurance for international students in Turkey.
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