What is the Turkish Citizenship by Investment Programme? The Turkey Citizenship by Investment Programme allows eligible individuals and their families to acquire Turkish citizenship and a Turkish passport for qualifying investment in Turkey.
What are the Requirements for Turkish Citizenship in General?
Make a tax-advantaged investment in Turkey.Keep the investment for a minimum of three years after it was made.In Turkey, certain criminal offences must not appear on the applicant’s criminal record.At the time of application, the principal candidate must be at least 18 years old.Not having previously entered or stayed in Turkey illegally.
What are the Citizenship Investment options?
Real Estate Option
Purchase of property in Turkey with a total value of at least USD 250,000 (or equivalent in another currency) and a three-year commitment not to sell the property.Deposit a minimum of USD 500,000 (or comparable amount in another currency) in cash to a Turkish bank with the condition that the money is kept in the account for the next three years.
Capital Investment Option
Make a fixed capital investment of at least USD 500,000 (or an equal amount in another currency) in a Turkish business over the next three years.
Establish a company in Turkey that employs at least 50 people as an employment option.
Purchase a government bond (government debt instrument) with a minimum value of USD 500,000 (or comparable amount in another currency) with the condition that you do not sell the property for the next three years.
Purchase real estate investment fund shares or venture capital investment fund shares with a minimum value of USD 500,000 (or an equal amount in another currency) with the condition of keeping the shares for the next three years.
How long does it take to become a Turkish citizen?
The procedure begins with a financial investment in Turkey and concludes with the citizenship application. Under normal circumstances, the entire citizenship procedure takes about 3-5 months to complete.
Is it possible to have dual citizenship in Turkey?
Yes, you are allowed to preserve both your native citizenship and your Turkish citizenship.
Is the investor required to keep the investment for a certain period?
Three years from the investment’s start date. So, if you choose the real estate option, you cannot sell the property to a third party within three years of the purchase date.
Will I be able to legally work in Turkey once I obtain Turkish citizenship?
Yes, you are permitted to work freely in Turkey.
Is it necessary for me to have a basic understanding of Turkish to apply for Turkish citizenship?
No, Turkish language proficiency is not required to apply for Turkey’s citizenship by investment programme.
Is there a requirement for the applicant to live in Turkey for a certain amount of time before or after the citizenship process?
No, neither before nor after getting Turkish citizenship, there is no necessity to reside in Turkey. After getting Turkish citizenship, you are free to live anywhere in the world.
Is it necessary for me to be physically present in Turkey on the date of submission and during the citizenship submission process?
No. As long as you give Power of Attorney to follow the citizenship procedure on your behalf, we can do so without your presence in Turkey. On the other hand, you must produce fingerprints, which is the final stage of the submission procedure; so, you will only need to travel to Turkey once to complete the citizenship filing process.
Is Turkish Citizenship a Lifetime Right? Even if I sell the property three years later?
Yes, once you obtain Turkish citizenship, it will be valid for the rest of your life and can be passed down to your children and other descendants.After three years from the date of purchase, you are permitted to sell the real estate; however, your citizenship remains in effect indefinitely.
Is it necessary for me to take on a Turkish name to obtain citizenship?
You have the option of keeping your last name, but you may decide to take on a new Turkish name and surname.
Is there a limit to how many family members can apply for citizenship alongside the principal applicant (the investor)?
It is possible for the Investor (Main Applicant) and all family members, including spouses and children under 18, to get Turkish citizenship. The overall number of family members is unrestricted (applicants).Due to the Main Applicant’s investment, children beyond the age of 18 or the parents of the Main Applicant are not eligible to profit from the citizenship chance.
Is it obligatory to serve in the Turkish military after being granted Turkish citizenship?
All applicants are excused from military duty if they are at least 22 years old during their Turkish citizenship application. That means that applicants under the age of 22 will be required to serve in the Turkish military.
Will I be eligible for citizenship if I purchase a portion of the real estate (a share in the real estate)?
Yes. When the value of the component (share) of real estate you purchase exceeds USD 250,000.
How do authorities verify and check the value of the property?
The applicant must get a valuation report from an appraisal firm that Turkey’s Board of Capital Markets has accredited. So, if the assessment report confirms that the true worth of the real estate exceeds USD 250,000, you will be considered eligible for citizenship.This report is valid for three months after it is issued.
If the investment was made in another currency, how should I calculate the USD value of the investment?
If the investment’s sale price is in a currency other than the US dollar, the value is computed using the Turkish Central Bank’s (TCMB) effective exchange rate for the day preceding the investment.
Should a minimum investment of USD 250,000 be made in a single property? Will the Applicant Still Be Eligible to Apply for Citizenship if He Invests in Two or More Separate Properties?
Investors/principal applicants can invest in numerous properties/units under the Turkey Citizenship by Investment programme. You can apply for citizenship if the total value of the real estate purchased exceeds USD 250,000.
Is it permissible for me to purchase any real estate for Turkish citizenship?
Yes. You can purchase commercial (office) or residential property or simply a plot of ground.If a foreigner buys a piece of land without a building, he must submit a construction project to the relevant Ministry within two years of the acquisition date, depending on the type of project. The Ministry and the foreign investor will work together to decide the project’s completion date.
Am I Allowed to Earn Interest on the Deposited Amounts in the Bank Deposit Option?
Yes, common interest can be earned on the amount placed.