Turkish Citizenship by Investment

Turkish Citizenship By Investment

Turkish Citizenship by Investment has become one of the most popular pathways for foreign investors seeking to secure a second citizenship. With the updated 2024 guidelines, the Citizenship by Investment Turkey Program continues to attract international interest thanks to its straightforward process and clear requirements. Through this program, investors can acquire citizenship by making qualified investments, such as purchasing real estate, establishing a business, or creating jobs. For those exploring options for a global lifestyle, Turkey Citizenship by Investment stands out as a practical and advantageous solution, offering a seamless route to becoming a Turkish citizen.

Table of Contents

Introduction 

This article will analyze the acquisition of Turkish Citizenship by Investment based on the decision of the President in Turkey within the context of Article 20 of the Regulation on the Implementation of the Law on Turkish Citizenship (No:5901). Other types of later acquisition after birth do not fall within the scope of this paper.

For our work and all legal services on the matter of citizenship, please click our Practice Areas, titled Citizenship.

What is Turkish Citizenship by Investment? 

Fundamental feature of Turkish Citizenship by Investment is that it is seen the fastest and safest route for gaining citizenship.

Turkish Immigration lawyers or Turkish citizenship lawyers are very good at evaluating legitimate reasons for each program.  There is a clear procedure that should be carried out carefully. Therefore, a professional help by Turkish citizenship lawyer may be very helpful for each state.

turkey citizenship by investment
turkey citizenship by investment

For our work and all legal services on the matter of real estate, please click our Practice Areas, titled Investment

Is Turkish Citizenship by Investment worth it?

Turkish Citizenship by Investment is designed for granting individuals citizenship by means of local investment in a relevant country or region. Citizenship by investment programs (CIPs) currently offered by most jurisdictions across the world. Individuals apply to CIPs with a view to traveling freely, starting up a new business and or benefiting from educational or occasional opportunities in a different part of the world. Turkish Citizenship by Investment has been a matter of discussion in Turkey over the years.

What are the rules for Turkish Citizenship by Investment? 

In the case of Article 20 of the Regulation on the Implementation of the Law on Turkish Citizenship (No:5901), there are limited ways of obtaining Turkish citizenship through investment. In summary, Turkey citizenship by investment is possible through investment in Turkey for citizenship:

  • Citizenship by property purchase
  • Citizenship by capital investment
  • Citizenship by employment

Is it hard to get Turkish Citizenship by Investment?

According to some reports, more than 7.000 foreigners obtained Turkish Citizenship by Investment thanks to home purchase only between 2014-2017. Citizenship by investment in Turkey is seen very attractive by foreign nationals as a way of foreign direct investment. Because of challenging aspects of each programme, an embracing legal guidance by Turkish citizenship lawyer may be very useful for a right conclusion.

For our work and all legal services on the matter of investment, please click our Practice Areas, titled Investment Advice.

How Much do You Need to Invest in Turkey to Get Citizenship?

To obtain Turkish citizenship through investment, individuals must meet specific financial criteria as outlined by the Turkish government. The primary investment options include:

Real Estate Investment: Purchase property in Turkey valued at a minimum of $400,000 USD. The property must be retained for at least three years before it can be sold.

Capital Investment: Make a fixed capital investment of at least $500,000 USD into a Turkish company or business venture.

Bank Deposit: Deposit a minimum of $500,000 USD into a Turkish bank account, with the condition that the funds remain in the account for at least three years.

Government Bonds: Purchase government bonds worth at least $500,000 USD and hold them for a minimum of three years. Job Creation: Establish a business that creates employment opportunities for at least 50 Turkish citizens.

Each of these investment routes is designed to stimulate economic growth in Turkey while providing investors with a pathway to citizenship. It’s essential to adhere to the specific requirements and maintain the investment for the stipulated period to qualify for Turkish citizenship.

Learn why now is the perfect time to invest in Turkey.

Can you get Turkish Citizenship by Investment based on a capital transfer?

 

Under the Turkish citizenship by investment rules, foreign capital investors may be eligible for citizenship by investment in Turkey. In this context, making a minimum of fixed capital investment of USD 500.000 or equivalent foreign currency or Turkish lira, as attested by the Ministry of Industry and Technology may provide alien investors with citizenship in Turkey. Once needs to bear in mind that Turkey venture capital lawyers are very skillful to manage the process. Minimum level of venture capital in Turkish law is 500.000 USD.

For the main advantages of investing in Turkey take a look at our articles:

Can I buy property in Turkey and get Turkish citizenship by investment? 

In the recent decade, the economic downturn has been a matter of concern facing the international community all over the world. As a response to economic hardships, new amendments are designed for attracting direct foreign investments. Granting citizenship owing to any kind of property purchase is a leading method.

In terms of real estate buyers, four main steps may be taken as follows: making an agreement on a Turkish property, the determination and confirmation of the relevant estate’s value, the examination and approval of the relevant national institutions, the proof of a title deed restriction on the resale of property for at least three years.

Checking due diligence and mortgages and liens, controlling ownership titles from Land Registry, the signature of real estate sale contracts before notaries are significant part of the safe transfer of ownership and citizenship by investment Turkey. Turkish citizenship lawyers are capable of performing such duties timely.

For more information you can take a look at our articles on

What is the Turkish citizenship by investment program 2024?

The Turkish Citizenship by Investment Program 2024 offers a streamlined pathway for foreign investors to acquire Turkish citizenship by making qualifying investments in the country. This initiative aims to attract foreign capital and stimulate economic growth within Turkey.

Investment Options

Real Estate Purchase: Acquire property in Turkey valued at a minimum of $400,000 USD. The property must be retained for at least three years before it can be sold.

Capital Investment: Make a fixed capital investment of at least $500,000 USD into a Turkish company or business venture.

Bank Deposit: Deposit a minimum of $500,000 USD into a Turkish bank account, with the condition that the funds remain in the account for at least three years.

Government Bonds: Purchase government bonds worth at least $500,000 USD and hold them for a minimum of three years.

Job Creation: Establish a business that creates employment opportunities for at least 50 Turkish citizens.

Key Benefits

Visa-Free Travel: Turkish citizenship grants visa-free or visa-on-arrival access to over 120 countries, including Japan, Singapore, and South Korea.

Dual Citizenship: Turkey permits dual citizenship, allowing investors to retain their original nationality.

Family Inclusion: The main applicant can include their spouse and dependent children under 18 in the application, extending citizenship benefits to the entire family.

No Residency Requirement: There is no obligation to reside in Turkey before or after obtaining citizenship.

Application Process

Choose an Investment Route: Select the investment option that aligns with your objectives.

Make the Investment: Complete the investment and obtain the necessary documentation, such as a certificate of eligibility.

Apply for Residency: Submit a residency application, which is typically processed swiftly.

Submit Citizenship Application: After obtaining residency, apply for citizenship through the Provincial Directorate of Census and Citizenship.

Receive Citizenship: Upon approval, receive Turkish citizenship and passport, usually within three to four months.

This program provides a viable opportunity for investors seeking to obtain Turkish citizenship through strategic investments, offering numerous benefits and a straightforward application process.

How much does it cost to invest in turkey to get Turkish Citizenship by Investment? 

Turkish government took a new decision increasing the minimum real estate investment to qualify for citizenship, from the previous USD 250.000 to USD 400.000. The said decision enters into force following the Official Gazette publication in May 2022.

Can you get Turkish Citizenship through submission of employment opportunities?

Aliens creating jobs for at least 50 people may be granted Turkish citizenship. It should be attested by the Ministry of Family, Labor and Social Services.

For our work and all legal services on the matter of Employment, please click our Practice Areas, titled Employment

Can you get Turkish Citizenship through the deposit of a certain amount of money?

When a foreigner deposits at least USD 500.000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same amount for at least three years, an additional condition lays ahead. This investment must be attested by the Banking Regulation and Supervision Agency. Finally, they will be eligible for Turkish Citizenship by Investment.

Can you get Turkish Citizenship through buying a certain amount of currency? 

Buying at least USD 500.000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share is another way. The main condition is that they are not sold for at least three years.

is Turkish citizenship worth it
is Turkish citizenship worth it

For more information about financial regulations in Turkey take a look at our article on Banking and Finance Law in Turkey

Can You Get Turkish Citizenship by Buying Property?

Yes, you can obtain Turkish citizenship by purchasing property in Turkey. The Turkish government offers a Citizenship by Investment Program that allows foreign nationals to acquire citizenship through real estate investment. As of 2024, the key requirements are:

Minimum Investment Amount: You must purchase property valued at least $400,000 USD.

Holding Period: The property must be retained for a minimum of three years before it can be sold.

Property Type: The investment can be in residential, commercial, or land properties, provided they meet the minimum value requirement.

Valuation Report: A valuation report from a Capital Market Board-approved appraiser is required to confirm the property’s value.

Payment Method: The purchase must be made via bank transfer, and the transaction should be documented with official receipts.

Once these conditions are met, you can apply for Turkish citizenship, which typically takes between three to six months to process. This program offers a straightforward pathway to citizenship for those interested in investing in Turkey’s real estate market.

Can you get Turkish Citizenship by Investment based on a real investment fund share? 

Real estate investment funds in Turkish law are another way of the acquisition of Turkish citizenship by Investment. Indeed,  buying at least USD 500.000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share may open Turkish citizenship certificate. Aliens should meet the condition that they are not sold for at least three years. Besides this procedure should be attested by the Capital Markets Board of Turkey.

What are the New Rules for Turkish Citizenship?

As of 2024, Turkey has implemented several updates to its citizenship acquisition processes, particularly concerning the Citizenship by Investment Program. Key changes include:

Enhanced Investment Requirements

Real Estate Investment: Applicants must now purchase property valued at a minimum of $400,000 USD and retain ownership for at least three years.

Capital Investment: A fixed capital investment of at least $500,000 USD is required.

Bank Deposit: Depositing a minimum of $500,000 USD into a Turkish bank, with a commitment to keep the funds for at least three years, is necessary.

Mandatory In-Person Procedures

Both investors and their spouses are now required to attend in-person appointments for residence permit and citizenship applications. This change aims to ensure a thorough assessment of applicants.

Biometric Data Submission

Applicants must provide fingerprints at designated immigration offices in Turkey, enhancing the security and integrity of the application process.

Criminal Background Checks

Submission of a criminal record from the applicant’s home country or country of legal residence is now mandatory, facilitating comprehensive background evaluations.

Property Development Criteria

Purchasing undeveloped land no longer qualifies for citizenship. The property must have a building or construction servitude to be eligible.

These updates reflect Turkey’s commitment to maintaining the integrity of its citizenship programs while continuing to attract foreign investment. Prospective applicants should ensure compliance with these new regulations to facilitate a successful application process.

Can you get Turkish Citizenship by Investment based on private pension funds? 

Owing to a legislative change on Article 20 of the Regulation on the Implementation of the  Law on Turkish Citizenship (No:5901), a new acquisition type of Turkish citizenship enters into force. When foreigners deposit at least USD 500.000 or equivalent foreign currency or Turkish lira in the private pension system with the condition of holding this fund for three years, as attested by Insurance and Private Pension Regulation and Supervision Agency, they may gain Turkish citizenship.

For our work and all legal services on the matter of citizenship, please click our Practice Areas, titled Citizenship.

What is the role of Turkish Immigration Lawyer for the acquisition of Turkish Citizenship by Investment?

Therefore, right and timely steps should be carried out for the acquisition of residency and citizenship, international protection and similar opportunities. In general, a Turkish immigration lawyer and Turkish citizenship lawyer specializes in helping guide foreigners through their immigration processes.

Can I Live in Turkey as a British Citizen?

As a British citizen, you can reside in Turkey by obtaining the appropriate permits. Here’s an overview of the process:

Short-Term Visits

Visa-Free Entry: British citizens can enter Turkey without a visa for tourism or business purposes and stay up to 90 days within any 180-day period.

Residency Beyond 90 Days

Residence Permit Requirement: If you plan to stay in Turkey for more than 90 days, you must apply for a residence permit.

Types of Residence Permits

Short-Term Residence Permit: Suitable for purposes such as tourism, business meetings, or property ownership.

Family Residence Permit: For those married to a Turkish citizen or with family ties in Turkey.

Student Residence Permit: For individuals enrolled in educational institutions in Turkey.

Long-Term Residence Permit: Available after eight years of continuous residence in Turkey.

Application Process

Online Application: Begin by completing the application form on the Turkish Ministry of Interior’s e-Residence portal.

Required Documents: Prepare necessary documents, including:

Valid passport with a minimum of 150 days validity from your entry date.

Four biometric photographs.

Proof of sufficient financial means.

Valid health insurance covering the duration of your stay.

Proof of accommodation in Turkey (e.g., rental agreement or property deed).

Appointment: Schedule and attend an appointment at the local Provincial Directorate of Migration Management (PDMM) to submit your application and documents.

Processing Time: After submission, processing can take up to 90 days. During this period, you can legally stay in Turkey.

Additional Considerations:

Work Permits: If you intend to work in Turkey, you must obtain a work permit, which also serves as a residence permit.

Healthcare: Turkey and the UK do not have reciprocal healthcare agreements. It’s advisable to have comprehensive health insurance during your stay.

By following these steps and ensuring compliance with Turkish immigration regulations, you can successfully reside in Turkey as a British citizen.

Conclusion

This article essentially analyzes the question of how the acquisition of Turkish Citizenship by Investment is possible.  Bearing in mind the aforementioned evaluations, it becomes clear that Turkish Citizenship by Investment requires a comprehensive legal guidance by Turkish Immigration Lawyers and Turkish Investment Lawyers.

Every single method looks very simple and clear. However, that is not the case. There are very complex proceedings connected to each other. Substantial acts and actions should be carried out by different national authorities. Besides, there may be additional criteria that must be met by foreign investors for each. The initiation of the citizenship process through a certain investment does not guarantee an automatic ownership of citizenship. There will be various additional legal requirements for any genuine achievement. A comprehensive legal guidance and consultation is, therefore, needed for avoiding waste of time and substantial unnecessary expenses.

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