Citizenship by investment in Turkey
Turkey has become a popular destination for those looking to live, visit or invest in a developed country that offers high-quality educational, health, and social services. It has a rich history and a variety of natural and cultural attractions, making it a desirable place to visit.
In recent years, Turkey has witnessed great economic, political, and infrastructure developments, Further development is expected in the future due to the objectives of the Turkish government, which are updated every year with the aim of placing Turkey on the throne of developed countries.
Many people are interested in obtaining citizenship by investment in Turkey, as it provides an opportunity to live, work and study in Turkey, in addition to the possibility of visa-free travel to more than 100 countries and many other advantages.
If we touch on the investment side; Why do many investors prefer Turkey?
1- Strategic location: Turkey represents a link between Asia and Europe, contributing in turn to its presence in global markets, reaching 1.3 billion people, and facilitating the movement of exports and imports.
2- A strong global economy: Turkey moved from 18th to 11th place during the period from 2003 to 2020 due to clear strategies for development and other factors.
3- Tax incentives, facilities, and a free investment climate: Such as equality between all international and local investors, exemption from value-added tax, corporate tax reduction, and ease of movement between countries to support investors in reducing their costs and increasing their profits.
4- Infrastructure suitable for different types of investments: Such as huge projects, various transportation lines linking all regions to each other, commercial units, universities, and schools.
5- A skilled workforce: Turkey ranked 3rd in terms of having the largest labor force in Europe, due to the high number of individuals enrolled in higher education, and the provision of services with high productivity and low cost.
6- High investment profits: The increased demand for Turkey, the infrastructure, the country’s location, and the workforce have all made Turkey a suitable environment for investment and obtaining profits in different ways.
7- Ongoing reforms: The state is working on developing its reform programs, such as the ease of doing business, and reforms in the production sector.
8- The possibility of obtaining citizenship by investment in Turkey, and enjoying all the advantages and rights of a Turkish citizen.
How to get Turkish citizenship by investment in Turkey?
What distinguishes Turkish citizenship by investment in Turkey is the diversity of its methods and its smoothness to suit every investor in proportion to the nature of his investment and his work, as follows:
- Buying a property worth at least $400,000, and the possibility of investing it in any way, with a pledge not to sell it for a period of 3 years.
- Deposit $500,000 as a deposit in any government bank in Turkey for a period of 3 years.
- Purchase of a stake equivalent to $500,000 worth of shares in Turkish Real Estate Investment Trusts (REITs) or Venture Capital Funds (VCTs), with the condition that the participation shares will be held for 3 years.
- Buying government bonds in Turkey at $500,000 and not disposing of them for a period of 3 years.
- Investing in fixed assets under the supervision of the Ministry of Industry and Technology at a value of $500,000.
- Creating 50 job opportunities under the supervision of the Ministry of Labor and Social Security.
Benefits of Turkish citizenship by investment in Turkey
The number of those wishing to obtain citizenship in turkey by investment has increased, especially to take advantage of its benefits and enjoy unlimited services. So what are its benefits and advantages?
- Have the full right to enjoy free medical, educational, and social care services.
- The speed of obtaining the Turkish passport and completing its transactions in less than 6 months, and the possibility of renewing it for a lifetime.
- Ease of conducting transactions as a Turkish citizen, in addition to the representation of the Turkish embassy and consulate to its citizens everywhere.
- The possibility of enjoying dual nationality, granting it to the wife and children under 18 years of age, and newborns, with the same investment value.
- The strength of the Turkish passport ranks 39 in the world, and it allows its holder to travel to 112 countries and enjoy his freedom and experience different cultures and customs. He can enter more than 67 countries without the need to issue a visa, such as Qatar, Tunisia, Malaysia, and Japan, or he can enter 50 countries and obtain a visa upon arrival at the airport, such as Kuwait, Lebanon, Maldives, or he can obtain an electronic visa for 5 countries via the Internet, such as Mexico and Sri Lanka.
- Ease of applying for the E-2 investor visa, which enables the citizen and his family to move to the United States of America and establish investment projects there.
- The Turkish passport holder has the right to vote in elections and benefits from the retirement law.
- Possibility to dispose of investments and return the funds after 3 years.
- Not requiring a declaration or report on funds or income.
- Low or no government fees and administrative expenses related to adding family members to the citizenship application file, and therefore these are the least additional expenses in the world.
- It provides many job opportunities for those who have Turkish citizenship, and the possibility of obtaining a work permit easily.
- Knowledge of the Turkish language or residency in Turkey is not required to obtain Turkish citizenship, except in exceptional cases.
Who can get Turkish citizenship by investing in Turkey?
According to the condition of “reciprocity”, the countries that used to allow Turkey to buy real estate in them, Turkey will allow them in return to buy real estate in them, but this condition was abolished in 2012 from the Real Estate Registration Law, and all foreigners were allowed to buy real estate in Turkey.
However, with the recent amendments and for political and security reasons, the applicant interested in obtaining Turkish citizenship through real estate investment must be citizens of one of the countries to that Turkey grants them citizenship. For example, It is not currently possible to obtain Turkish citizenship for Armenia, Cuba, North Korea, Syria, and Nigeria.
Documents required for Turkish citizenship
When applying for Turkish citizenship by investment, it is important to bring all the necessary papers and documents to ensure a smooth and efficient process. These papers include:
- Application form for Turkish citizenship.
- A copy of the passport, marriage certificate, birth certificate, and family record, translated and notarized by the Ministry of Foreign Affairs and the Turkish Embassy.
- Four recent personal photos of all family members.
- Two copies of the power of attorney for citizenship application.
- Evidence of buying shares or depositing money in a Turkish bank or investing in it at the required value.
- The title deed of the property purchased, a valid real estate appraisal report, receipts from the bank and receipts from the seller are all stamped.
Stages of obtaining Turkish citizenship by investment in Turkey
The process of receiving a Turkish passport and obtaining Turkish citizenship by investment generally takes between 90 and 180 days. The following are the stages of obtaining Turkish citizenship:
- The 1st stage: the application has been registered in the system.
- The 2nd stage: The file has been sent to the General Administration for review.
- The 3rd stage: The file has been received by the General Administration and the papers are examined.
- The 4th stage: The stage of comprehensive auditing and archiving, and sending it to the competent authorities for evaluation.
- The 5th stage: The list has been approved and submitted to the Council of Ministers for approval.
- The 6th stage: Waiting for the result.
- The 7th stage: You must review the authority where you submitted the file to find out the result.