Turkish Citizenship by Investment program: almost all countries have made special arrangements for granting citizenship easily to people with certain characteristics. Turkey is among these countries; some foreigners can apply for Turkey citizenship much more easily than any other foreigner due to their close interest and connections with the country, and in law, this is called granting exceptional citizenship.
A foreigner can get Turkey Citizenship by investing a certain amount of money specified by law. However, a foreign investor cannot automatically get citizenship by meeting the law requirements, for this, he/she has to make an application with the necessary documents and this application must be concluded positively. Turkey Citizenship by Investment Program was launched in 2010 and has been successful in attracting investors from all over the world.
What are the Benefits of Turkish Citizenship Program?
The main benefit of this program is that it is relatively easy to apply, it also provides a safe place to invest, and there are many other benefits associated with being a citizen of Turkey.
The program offers an excellent opportunity to those who wish to invest their money in Turkey and at the same time have the chance to become Turkey’s citizens.
The benefits of getting Turkey citizenship by investment are countless and include the following:
- The ability to travel to 113 visa-free countries. Which gives it an overall medium mobility score.
- The ability to add the main applicant’s spouse and children under 18 years old to the application file.
- Turkish citizenship is a lifelong citizenship, and it can not be disabled or withdrawn.
- Dual citizenship is allowed.
- The ability to work without any restrictions.
- The chance to start a business in Turkey.
- The investor becomes eligible to apply for the USA E-2 visa.
- Free medical care in government hospitals and affordable medical care in private hospitals.
- No language requirements.
- Low cost of living.
How to Apply for Turkish Citizenship by Investment Program?
There are two main options to apply for Turkey citizenship by investment:
- Turkey citizenship by bank deposit:
This option is done by investing $500,000 or an equivalent amount in foreign currency or in Turkish liras by opening an account in one of Turkey’s operating banks and depositing the amount with the pledge to keep it for 3 years, and there is the chance for including the spouse and children regardless of their age to the citizenship application.
- Turkey citizenship by real estate investment:
Turkey citizenship by real estate investment program is one of the most popular and fastest ways to get a Turkish passport, investors should be able to show that they are committed to the country and want to invest in it.
Investors are eligible for this program if they meet the following requirements:
- They should invest at least $400,000 in real estate in Turkey with the pledge to not sell it for 3 years, he can use it as his personal house when he visits Turkey or he can lease it and after 3 years he can resell it.
- They should be able to provide proof of a clear criminal record.
- They should be clear of any crimes anywhere in the world.
- Their names should not be listed on any sanctions list. and,
- They should not be involved in any illegal activities.
The investor gives our lawyer a power of attorney to follow up on the citizenship application procedures until Turkish ID and passport issuance.
The Required Documents for Turkish citizenship application by real estate investment:
- A notarized translation of the original passport.
- A copy of the Turkish residency permit.
- A notarized translation of the birth certificate.
- A notarized translation of the marriage certificate.
- Health certificate.
- Documents related to real estate investment.
How Much Does Turkish Citizenship by Investment Cost?
The government presented Turkey Citizenship by bank deposit program as a way to improve the country’s economy and it is defined by the law with a minimum investment of $500,000 or an equivalent amount in foreign currency.
Turkey Citizenship by real estate investment program provides Turkey citizenship to applicants willing to buy a property in Turkey. The required amount of real estate investment is a minimum of $400,000, applicants can choose one of the available options, the most popular one is the ‘Real Estate Investment’ option.
How Long Does It Take to Get Turkish Citizenship?
Generally, starting from submitting the application it takes 5 – 6 months to get Turkey citizenship, after getting the citizenship certificate the investor can go with his family to Turkey or the Turkish embassy in his country to apply for the Turkish ID, and then the Turkish passport.
Why should I invest in Turkey?
- Turkey’s strong economy: Turkey’s economy recorded growth between 2003 and 2020, rising from the world’s 18th largest economy in 2003 to 11th in 2020.
- Large domestic and regional markets:
- Turkey’s economic development performance has enabled Turkey’s GNI per capita to rise from $3,581 in 2002 to $8,599 in 2020,
- Turkey’s economic growth has paved the way for the emergence of a sizeable middle class with increasing purchasing power.
- Turkey is the 10th largest economy in terms of GDP per capita among countries with a population of over 50 million.
- Strategic Location: Turkey is an efficient and cost-effective hub for major markets, with access to global markets at the crossroads of Europe, Asia, and Africa.
Investing in real estate in Turkey:
Turkey is one of the most promising real estate markets in Europe. Most of the investors prefer to get Turkey citizenship by buying real estate for residential reasons and because of Turkey’s low cost of living or to lease their real estate and profit through it, they also buy commercial real estate to lease it to big markets or companies, and this is considered a profitable investment in Turkey because of the consistent return and passive income.
Finally, Turkey is famous for its history, culture, and scenery. Its strategic location makes it easy for investors and tourists from all over the world to come and visit its beautiful cities, especially middle eastern investors, who prefer to reside in it because of the shared values.
