Turkey Citizenship By Investment

Table of Contents

  1. What is the eligibility criteria for Turkey Citizenship by Investment Program
  2. Process and Timeframe for Turkey Citizenship by Investment Program
  3. What are the benefits for Turkey Citizenship by Investment Program
  4. Some information and fun facts about Turkey
  5. What are the limitations for Turkey Citizenship by Investment Program
  6. FAQs about  Turkey Citizenship by Investment Program

Eligibility Criteria for Turkey
Citizenship by Investment Program

To qualify for the Turkey Citizenship by Investment Program, applicants must meet specific investment requirements. Below are the detailed eligibility criteria, broken down into clear points:

  • Real Estate Investment: Acquire property worth at least USD 400,000. This investment in Turkey’s real estate market not only qualifies the applicant for citizenship but also provides an opportunity to benefit from the country’s growing property market.
  • Fixed Capital Contribution: Invest a minimum of USD 500,000 in fixed capital. This can be through establishing a business or expanding an existing one, which directly contributes to the Turkish economy and industrial development.
  • Bank Deposit: Deposit at least USD 500,000 in a Turkish bank account. This investment must be maintained for at least three years, ensuring that the funds contribute to the financial stability and liquidity of the Turkish banking system.
  • Government Bonds: Commit a minimum of USD 500,000 in government bonds. This investment supports public financing and development projects, and must be held for at least three years.
  • Investment Funds: Invest at least USD 500,000 in real estate investment funds or venture capital investment funds. These investments, which must be maintained for three years, provide capital for various economic projects and startups in Turkey.
  • Private Pension System: Contribute at least USD 500,000 to a private pension system, with a minimum holding period of three years. This supports the country’s financial sector and promotes long-term savings.
  • Job Creation: Create employment for at least 50 people, as certified by the Ministry of Family, Labour, and Social Services. This criterion underscores the importance of job creation and economic development in Turkey.

Applicants can include their spouse, dependent children under 18, and any children with disabilities in their application, ensuring that the entire family benefits from Turkish citizenship. These diverse investment options provide flexibility, allowing investors to choose the path that best suits their financial goals and interests while contributing to Turkey’s economic growth.

Process and Timeframe of Turkey
Citizenship by Investment Program

The Turkey Citizenship by Investment Program involves a structured process with specific steps and a clear timeline. Below are the key stages and important pointers to consider:

1. Choosing the Investment Option

The first step is for the applicant to select one of the qualifying investment options, such as real estate, fixed capital, bank deposit, government bonds, investment funds, private pension, or job creation.

2. Residence Permit Application

Once the investment option is chosen, a residence permit application is made on behalf of the applicant and their family. This step is essential for legally residing in Turkey during the application process.

3. Opening a Turkish Bank Account

The main applicant must open a bank account in Turkey. This is required to facilitate the investment and ensure that funds are transferred and held in compliance with Turkish regulations.

4. Preparing Application Documents

Applicants need to prepare all necessary documentation, including certifications and translations. These documents typically include passports, birth certificates, marriage certificates (if applicable), proof of investment, and other relevant legal papers.

5. Completing the Investment

The chosen investment must be completed, and the required funds must be transferred in Turkish lira, which is equivalent to the specified USD amount. This ensures that the investment complies with local currency regulations.

6. Submitting the Application

After the investment is made, the complete set of documents is submitted to the Turkish government for review. This submission marks the official start of the citizenship application process.

7. Biometric Submission

Successful applicants are required to visit Turkey to submit their biometrics, including fingerprints and photographs, as part of the residence permit application.

8. Application Approval

The government typically reviews and approves applications within three to five months. During this period, the authorities verify the investment and ensure all requirements are met.

9. Issuance of Citizenship Documents

Once approved, citizenship documents are issued to the applicant and their included family members. These documents confirm their status as Turkish citizens.

10. Passport Application

Following the issuance of citizenship documents, the applicant can submit a passport application, allowing them to obtain a Turkish passport and enjoy the benefits of Turkish citizenship.

11. Tax Considerations

Applicants should be aware that Turkish gift and inheritance taxes apply to worldwide assets held by Turkish citizens. It is recommended to seek professional advice to manage these tax implications effectively.

This well-defined process ensures that applicants can smoothly transition to becoming Turkish citizens while fulfilling all legal and regulatory requirements.

Benefits of Turkey Citizenship by Investment Program

The Turkey Citizenship by Investment Program provides a host of benefits that make it an attractive option for global investors and their families. Below are some of the key advantages:

Turkey benefits
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1. Visa-Free Travel

Enjoy visa-free or visa-on-arrival access to over 110 destinations worldwide, including prominent countries like Hong Kong, Japan, and Singapore. This extensive travel freedom significantly enhances global mobility and ease of business or leisure travel.

2. Citizenship for Family

The Turkey Citizenship by Investment Program grants full citizenship not only to the primary applicant but also to their spouse, dependent children under 18, and children of any age living with disabilities. Such an inclusive approach ensures that the whole family can avail the benefit of Turkish citizenship.

3. High Standard of Living

Turkey offers a mild Mediterranean climate, stunning landscapes, and a rich cultural heritage. Residents can enjoy a high quality of life, excellent healthcare, and education systems, as well as a vibrant social and cultural environment.

4. E-2 Investor Visa Eligibility

After residing in Turkey for three years, citizens can apply for an E-2 Investor Visa in the USA. This visa is valid for five years and is renewable, providing a valuable pathway to live and work in the United States.

5. Strategic Geographical Location

Situated at the crossroads of Europe and Asia, Turkey holds significant geostrategic importance. It serves as a vital economic, financial, and political hub, offering strategic advantages for international business and trade.

6. Stable Economic and Governance

Turkey is recognized for its stable economic and political environment, providing a secure and conducive atmosphere for investment and personal growth.

These benefits collectively make the Turkey Citizenship by Investment Program an appealing choice for individuals seeking enhanced global mobility, a high standard of living, and significant investment opportunities in a strategically important country.

Some Info and Fun Facts About Turkey

Turkey, officially known as the Republic of Turkey, has its capital in Ankara. The country is a home to approximately 85 million people. The official language is Turkish and the currency used is the Turkish lira (TRY). Turkey’s economy is diverse and robust, with a GDP per capita of around USD 9,000. This blend of a rich cultural heritage and modern economic infrastructure makes Turkey a significant player on the global stage.

10 fun facts about Turkey:

  1. Transcontinental Nation: Turkey is uniquely positioned at the crossroads of Europe and Asia, with Istanbul being the only city in the world spanning two continents.
  2. Cultural Heritage: Home to 19 UNESCO World Heritage Sites, Turkey boasts rich cultural and historical landmarks, including the ancient city of Troy and the rock sites of Cappadocia.
  3. Historic Significance: The region of Anatolia, within modern-day Turkey, is one of the oldest continuously inhabited regions in the world, with human settlements dating back to the Neolithic period.
  4. Epicenter of Civilization: The ancient city of Göbekli Tepe in southeastern Turkey is considered the world’s oldest temple, predating Stonehenge by about 6,000 years.
  5. Language Roots: The Turkish language is part of the Oghuz branch of the Turkic language family and has borrowed many words from Arabic, French, Italian, Greek, and English.
  6. Diverse Climate: Turkey’s diverse geography results in a variety of climates, from the Mediterranean climate along the coastlines to the continental climate in the interior, making it a country with a rich agricultural landscape.
  7. Culinary Delights: Turkey is famous for its delicious cuisine, which includes globally popular dishes like kebabs, baklava, and Turkish delight (lokum).
  8. Longest Coastline: With a coastline stretching over 8,000 kilometers, Turkey offers stunning beaches along the Mediterranean, Aegean, and Black Sea coasts.
  9. Natural Wonders: Turkey is home to Pamukkale, a stunning natural site known for its white terraces of travertine, formed by carbonate minerals from hot spring water.
  10. Biodiversity: Turkey is one of the world’s biodiversity hotspots, with a wide variety of flora and fauna, including many endemic species found only in this region.

These fun facts highlight Turkey’s unique geographical position, rich history, cultural diversity, and natural beauty.

Limitations of Turkey Citizenship by
Investment Program

While the Turkey Citizenship by Investment Program offers numerous benefits, there are also some limitations and considerations that prospective applicants should be aware of:

  1. High Investment Threshold: The required investment amounts are relatively high, with minimum thresholds of USD 400,000 for real estate and USD 500,000 for other investment options, which may not be affordable for all potential investors.
  2. Currency Exchange Requirements: Investments must be made in Turkish lira, equivalent to the specified USD amount. This introduces a level of currency exchange risk, especially given the fluctuations in the value of the Turkish lira.
  3. Holding Period: For many investment options, there is a mandatory holding period of at least three years. This means that investors cannot liquidate their investments within this period without jeopardizing their citizenship status.
  4. Tax Implications: Turkish citizens are subject to Turkish gift and inheritance taxes on their worldwide assets. This can have significant financial implications, and applicants should seek professional tax advice to understand their obligations.
  5. Biometric Submission Requirement: Applicants are required to visit Turkey to submit biometrics, which can be inconvenient and may require multiple trips depending on the individual’s circumstances.
  6. Political and Economic Stability: While Turkey is considered a stable country, it has experienced political and economic challenges in recent years. Prospective investors should consider the potential risks associated with these factors.
  7. Legal and Bureaucratic Procedures: Navigating the legal and bureaucratic processes can be complex and time-consuming. Applicants often need to engage professional services to ensure all documentation and procedures are correctly followed.
  8. Property Market Risks: Investing in real estate carries inherent risks, including market volatility and potential changes in property values. Prospective investors should conduct thorough due diligence before committing to real estate purchases.
  9. Cultural and Language Barriers: Adapting to a new culture and language can be challenging for some applicants and their families, potentially impacting their integration into Turkish society.
  10. Limited Visa-Free Travel: While Turkish citizenship offers visa-free or visa-on-arrival access to over 110 countries, it does not include key destinations like the Schengen Area, the United States, and the United Kingdom, which may be a limitation for frequent travelers.

Understanding these limitations is crucial for making an informed decision about applying for the Turkey Citizenship by Investment Program. Prospective applicants should weigh these considerations against the benefits to determine if the program aligns with their personal and financial goals.

10 Frequently Asked Questions about Turkey
Citizenship by Investment Program:

1. What is the Turkey Citizenship by Investment Program?

The Turkey Citizenship by Investment Program allows foreign investors to obtain Turkish citizenship by making specific economic contributions, such as real estate purchases, capital investments, or bank deposits.

2. What are the investment options for obtaining Turkish citizenship?

Applicants can qualify by investing at least USD 400,000 in real estate, USD 500,000 in fixed capital, bank deposits, government bonds, real estate or venture capital funds, private pension systems, or by creating jobs for at least 50 people.

3. How long is the mandatory holding period for investments?

Most investment options require a holding period of at least three years. During this time, the investment must be maintained to retain eligibility for citizenship.

4. Can family members be included in the citizenship application?

Yes, the main applicant can include their spouse, dependent children under 18, and children of any age with disabilities in the citizenship application.

5. What is the process for applying to the Turkey Citizenship by Investment Program?

The process involves selecting an investment option, applying for a residence permit, opening a Turkish bank account, making the investment, submitting application documents, providing biometrics, and waiting for approval.

6. How long does it take to obtain Turkish citizenship through Turkey Citizenship By Investment Program?

The approval process typically takes three to five months from the submission of the complete application and investment documents.

7. What are the tax implications for new Turkish citizens?

Turkish citizens are subject to Turkish gift and inheritance taxes on their worldwide assets. It is advisable to seek professional tax advice to understand these implications fully.

8. Are there any language or residency requirements for the Turkey Citizenship by Investment Program?

There are no specific language or residency requirements to obtain citizenship through this program. However, applicants must visit Turkey to submit biometrics.

9. Can the investment be made in foreign currency?

No, the investment must be made in Turkish lira, equivalent to the specified USD amount. This ensures compliance with Turkish currency regulations.

10. What are the travel benefits of Turkish citizenship?

Turkish citizens enjoy visa-free or visa-on-arrival access to over 110 countries, including Hong Kong, Japan, and Singapore. However, this does not include key destinations like the Schengen Area, the USA, and the UK.

These FAQs provide a comprehensive overview of the Turkey Citizenship by Investment Program, addressing common queries and important aspects that prospective applicants should consider.