A Comprehensive Guide to Turkish Citizenship by Investment | Turkey | Passport
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The Turkish government has introduced an option to obtain Turkish citizenship by investing in Turkey. It has specific reservations, just like other countries across the world. It has become one of the easiest ways to get a secondary passport. Since 2017, foreign investors can buy their way to Turkish citizenship.
Its foundation is in the country's Citizenship Law under Act No. 5901, which was signed and passed by the Council of Ministers.
Key requirements for Turkish citizenship by investment
The Turkish Citizenship by Investment program has been launched to attract foreign investors. Foreign investors can use any of the three routes to obtaining Turkish citizenship. You have to keep your investment here for three years at least.
These routes are:
- Investing in real estate property of worth $400,000
- Creating jobs by outsourcing labor to a cheaper country
- Depositing $500,000 in a bank account in Turkey for capital investment.
To follow these routes as a primary applicant, you can either invest in real estate, make a fixed capital contribution, or deposit funds into a Turkish bank.
- You can also commit $500,000 to government bonds.
- Moreover, you can also invest 500,000 USD into a fund share of venture capital investment or real estate.
- Invest $500,000 into a private pension system for three years of the minimum holding period.
- Create job opportunities for 50 people at least, as confirmed by the Ministry of Social Services, Labor, and Family.
Important Note:
The primary applicant must include their spouse, dependent children aged below 18, and children with disabilities (any age) in the application.
Who is eligible to get Turkish citizenship by investment?
You are eligible to apply for Turkish citizenship through the Investment program if you are:
- An adult
- Having no criminal background
- Have never illegally stayed in Turkey
- Have fulfilled due diligence on your investment in Turkey
- Obtaining your funds legally.
The restricted nationalities are Armenia, Nigeria, Cuba, Syria, and North Korea. You can't apply for Turkish citizenship by investment if you are a national of these countries.
Residency requirements for Turkish citizenship by investment
Fortunately, Turkey has no residency requirements to get Turkish residents by investment. The applicant can apply for and obtain a Turkish passport six months after investing. Living in Turkey isn't necessary for that.
You’ll need to hire a professional to manage your investment, citizenship process, and visa application.
Moreover, it is always better to enter Turkey to oversee your investment. For example, if you want to invest in property, it’s vital to check and compare different property options to find the right and profitable investment opportunity.
The process to apply for a Turkey investment visa.
Turkey announced its citizenship program by investment in 2016, launched in late 2017. This program has triggered significant foreign investments and boosted the real estate sector.
The application process to apply for Turkish residence by investment takes up to four months. Most importantly, it doesn't require the applicant to go through any formal interview or learn Turkish.
Above all, if the main applicant fulfills all requirements for a Turkish Investment visa, all their family members can also obtain Turkish citizenship.
Although the rules for applying Turkish investment visa are pretty convenient. However, the application process requires plenty of paperwork throughout the process. The paperwork generally includes photos, certifications, identity certificates, official translations, etc.
Here are the key steps to complete the application process for Turkish citizenship by investment:
· Choose any of the qualifying investment options
Firstly, you need to complete the investment-making part of the process. This bigger step is made of various smaller steps. These include choosing your investment option, getting a tax registration number, obtaining a particular purpose report from a CPA, or a real estate value assessment report.
However, determine the best investment option for you based on your family structure, finances, and end goals.
· Obtain eligibility certificate
You can get an eligibility certificate from different authorities based on your investment type.
An eligibility certificate is vital to attest that you have fulfilled investment requirements set out by law.
· Open a bank account in any Turkish bank.
The next step is to open your bank account in any Turkish bank. Here you will have to deposit money you want to invest in Turkey to obtain its citizenship by investment. You can get help from an advisor or legal representative in opening a bank account here.
· Get your residence permit.
Once you have approved your investment, you need to apply for a residence at TPDIA (Turkish Provincial Directorate of Immigration Administration). You can get a residence permit quickly that you can utilize to stay in Turkey to finalize your investment and apply for citizenship.
· Submit your paperwork for your Turkish citizenship application
After completing your investment process, you are now all set to apply for Turkish citizenship. After investing in Turkey, you can quickly submit your application for Turkish citizenship with the required documents.
Apply to the Provincial Directorate of Census and Citizenship.
It generally takes up to 4 months to resolve your citizenship application.
Required documents to apply for Turkish citizenship by investment
Applying for Turkish citizenship by investment has three main stages in the process. These include fulfilling investment conditions and obtaining a certificate's receipt for conformity. Getting short-term residency and then applying for citizenship by investment.
Here are the essential documents required for these steps:
- Any document to show the residence address in the foreigner's home country. It includes a gas bill, electricity bill, and phone bill.
- Turkish tax number
- Passport of applicant
- Value assessment report of real estate
- A particular purpose report from CPA is required for a min. $500,000 capital investment.
- Proof of you have never stayed illegally in Turkey
- Criminal Background report of the applicant
- Health insurance proof that’s valid in Turkey.
- Applicant’s identity registry copy
- Marital status document
- Passport’s notarized Turkish translation
Important Note:
The document requirements may vary from applicant to applicant based on background, investment type, and nationality.
Final Thoughts
If you have sufficient funds to invest, you can decide your mean of investing in any way that will contribute to Turkish society and get a return for that.
Consequently, you will get your secondary passport and enjoy all the perks of being a Turkish citizen.
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