Turkey Citizenship by Investment
Turkish citizenship investment is a top offer from the government. This country ranks 20th in the world in terms of economy. For example, according to AA.com.tr, Turkey’s GDP in 2022 reached $905 billion with a CAGR of 5.6%. This is evidence of the country’s good economic development, stability, and prospects.
That is why Turkey attracts not only tourists who want to enjoy its climate, seas, and culture but also investors who are looking for a profitable investment opportunity. The latter can also obtain the rights of the native population of Turkey by staying to live and work here.
Overview of Turkish Citizenship by Investment Program
Turkey citizenship by investment has obvious differences with the proposals of other governments:
- Citizenship is granted to all family members indicated in the application without additional investment.
- There is no set minimum period of residence before applying.
- The amount of financial contributions is much more favorable than in other countries.
- There are some additional investment opportunities.
- Obtaining citizenship does not impose any restrictions on the investor but rather opens up new prospects.
The conditions of Turkish citizenship by investment are among the easiest to fulfill. For example, unlike Malta, you do not need to reside here for more than a year before applying or pay additional fees for each person listed in the application.
Benefits of Turkey Citizenship by Investment
Turkey treats its citizens well, ensuring their rights are respected and opening up personal and commercial prospects.
- Dual citizenship. Turkish citizens are not obliged to renounce the documents of other countries (unless these countries prohibit having two or more passports).
- Freedom of movement around the world. Turkey has more than 125 partner countries with visa-free agreements, so citizens can freely visit them.
- Access to a Schengen visa. Thanks to the Turkish passport, citizens can obtain a visa to travel to Europe faster and under simplified procedures.
- Business in the United States. That’s right, Turkey allows its citizens to obtain an E2 visa, which allows them to invest in US companies or even open their own businesses there.
- Quality education, healthcare, and social life. Acquired citizenship gives the same rights as the one issued at birth, meaning that the investor and their family have the same access to all the benefits of the country.
- Everyone is included. An entrepreneur can include their family in the citizenship by investment program in Turkey and obtain passports for all members at no additional cost.
- No residence obligations. Citizens can live in any region of the world without restrictions, mandatory home visits, etc.
- Return on the initial investment. The invested money can be returned, and even multiplied, in 3 years from the investment date by selling the property, dividends, or business.
In addition, all those who have obtained citizenship can enjoy the climate, nature, and warm seas without any restrictions. So, if you often visit Turkey on vacation and want to stay here forever, the citizenship by investment program is the perfect option!
How to Get Turkish Citizenship by Investment?
Among other things, Turkish residency status can be obtained by making a significant investment. It is not necessary to buy real estate, although this is the fastest way to obtain a passport.
In total, there are several investments that open up the possibility of acquiring citizenship:
- purchase of housing or other types of real estate;
- contribution to the fixed capital of the country;
- transfer of funds to an account in one of the banks;
- investment in bonds, shares, etc.;
- investment in real estate or venture capital funds;
- contribution to a private pension system for a period of 3 years;
- opening a business with at least 50 jobs.
These types of financing allow an investor and his or her family to apply for Turkish citizenship if the other conditions are met.
Procedures and Terms of the Turkey Citizenship by Investment Program
First, a potential candidate should obtain a residence permit issued under the general rules within the time limits established by the government. This will allow you to open a bank account and register for the future process of becoming a citizen of the country.
Usually, the necessary documents are submitted at the second stage. For this, you need to prepare:
- a police report on trustworthiness;
- identification documents, bank statements, income tax returns, etc.;
- a certified and translated application;
- proof of investment (invoices, purchase agreement, declarations).
The application with certified copies of documents is submitted to the agency, which considers it within 120 days. Within the same period, a decision is made to grant or deny citizenship. Then you need to submit a second application, but this time for an internal Turkish passport. The total period from the beginning to the end of the process takes about 3-4 months.
Turkish Citizenship by Investment Requirements
It is difficult to find problematic points among the requirements for a candidate for citizenship. Unlike, for example, Malta, where an investor needs to go through a number of checks to confirm their intention to live on the islands and their interest in the development of the region.
The Turkish citizenship investment program requires the following from candidates:
- no criminal record;
- no refusals to obtain visas;
- adequate character;
- one of the types of investments;
- proof of income;
- an application for citizenship;
- a list of related documents.
Residence or a stay in Turkey is not required (which can be an exception among similar government programs). Knowledge of the country’s language, culture, traditions, and laws is also not required. Therefore, this program can be called the most loyal to those wishing to obtain the honorary status of a citizen.
Cost of Citizenship by Investment in Turkey
As for the size of investments, they have changed dramatically over the past 7 years (the program was launched in 2016). Initially, the minimum amount of investment in the economy was $1 million, which did not cause a stir among potential investors. In 2018, the amount was reduced to $250 thousand, which stimulated an increase in interest in the program and, accordingly, the flow of applicants. The last change took place last year, and the deposit amount was fixed at $400 thousand for the purchase of the real estate.
There are several types of investments that give candidates a chance to obtain citizenship:
- purchase of real estate for a minimum period of 3 years and a price of $400,000;
- deposits in the amount of $500,000 in:
- fixed capital
- a bank account
- government bonds
- real estate funds
- private pension system for a period of 3 years
- opening a business with at least 50 jobs.
Compared to similar programs, these are relatively small amounts of investment that generate income. In addition to the primary investment, the candidate is expected to pay taxes, commissions, and additional services to the country’s budget.
Why You Should Choose Fintech Harbor Consulting for Turkey Citizenship by Investment
To obtain the honorary title of Turkish resident, you will need a minimum of time, some money, and desire. Since the program is quite loyal to the candidates, there are usually no problems with registering the application and acquiring Turkish citizenship. However, there are exceptional situations when an investor may lose their funds and the desired citizenship.
You need expert assistance to mitigate risks and prepare for key legal processes in advance. Fintech Harbor is exactly that. We provide a full range of services for our clients:
- advise on legal issues;
- check candidates for compliance with program requirements;
- represent the client’s interests in a particular region;
- assist with application registration and submission of documents;
- monitor compliance with the regulations during the application process.
These services will help you to obtain the desired citizenship faster for investments in any of the countries that support such programs.
Ivo Reischen: Thanks to Fintech Harbor, I was able to properly assess the risks and invest profitably in Turkey. With the help of this company, I obtained citizenship without any problems with the legal nuances of the process. Recommend.
Vali Richtgutten: I’ve been planning to change my residence for a long time, looking for the best countries and investment citizenship programs. The Fintech Harbor specialists helped me with the choice and checked my eligibility in advance. Now I’m a happy citizen of Turkey with a beautiful house by the sea.
Mark Graffman: I’ve always wanted to move to the sunny shores of Turkey and open my own bar network there. I managed to do it thanks to the help of Fintech Harbor experts. I’ve been a Turkish citizen and a happy owner of several beach bars for three years.
Despite the exhaustive information in the material, we have prepared several detailed answers to common questions that readers may have.
The minimum investment amount is $400,000 for the purchase of real estate for a period of 3 years. Additional taxes, commissions, and services are calculated separately on an individual basis.
Of course. You can marry Turkish nationals (citizenship is granted after 3 years). Also, after 5 years of work and residence in the country. Or for outstanding merits or achievements.
To contribute to the development of the country’s economy by purchasing real estate, starting a business, etc.
As of today, this program is one of the most loyal and fastest in the world.
The general period from the moment of application to citizenship is about 3-4 months. In special cases, it can be extended by 2 times, i.e., up to 6-8 months.
Of course, to do this, you need to indicate family members in your citizenship application and attach their documents (and birth certificates for children).
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