In June 2022 Turkey has announced changes in their Turkish Citizenship by Investment program that allowed new purchasers to obtain citizenship for only 400,000 USD making it one, if not one of the most inexpensive and appealing citizenship by investment program anywhere in the world. When the program first established, the limit was set at 1,000,000 USD.
Since then, thousands of new buyers have made applications and have been granted Turkish Citizenship by investing in real estate in Turkey. This blog will guide you through the procedure starting from the beginning, including all requirements along with the official steps and what are the benefits of having Turkish Citizenship through property investment.
What are the advantages from having Turkish Citizenship?
Citizenship for spouse and children – Spouse of the applicant along with any children that are under the age of 18 will receive Turkish citizenship as per the program. Any children born after will be granted citizenship upon birth. Those who are over 18, must become citizens on their own.
Dual Citizenship Dual Citizenship Turkey allows Dual Citizenships, meaning that you can keep your current citizenships and not have to give anything up in order to apply when you purchase real estate.
Visa-free travel – Those who have a regular Turkish Passport are able to go to more than 104 nations without needing a visa, or obtain an invitation to visit upon arrival. This puts a Turkish Passport among the top 30 most powerful passports in the world. A Turkish Passport is renewable every 10 years.
You can work in Turkey Citizenship holders are able to work freely in Turkey. Prior to that, a permit for work was required. Citizenship makes it easier to be employed in the nation which is the main gateway into Europe along with to the Middle East.
Insurance, healthcare and ease of bureaucratic procedures – With citizenship you will have access to lower cost healthcare and insurance policies in Turkey. Additionally, you will be eligible to vote in the national elections. You will also have access to a state pension and can apply to get Turkish loans.
There is no residency requirement at all. Citizenship allows you to leave and come back to Turkey whenever you want while not losing the citizenship. There is no requirement to reside in Turkey after you have earned your citizenship.
You are able to relocate to the UK If you are you are a Turkish citizen, it’s possible to work and live within the United Kingdom with relative ease because you can apply for an Business Person visa and even obtain British citizenship in the future. The biggest benefit of the investment program.
Working with America United States – Another option for Turkish citizens is to get the E-2 investor visa to make it easier to move in the USA. If you’re looking to live in the US, Turkey is a great option on that path with the real estate route.
There is no military requirement – Applicants who invest and move to Turkey the investment programme, are exempt from the mandatory military service. Your dependents are also exempt.
Citizenship and Superb inheritance laws – One benefit of citizenship is the fact that Turkish law completely protects you and your legal beneficiaries in case of the tragic circumstance of your demise. This means that your assets will pass smoothly on to your grandchildren in the future, with not any hassles.
How to obtain Turkish Citizenship with investment in the property guide?
Step 1. Obtain an Turkish Tax Registration Number
You can apply for a Tax Registration Number at any tax office location in Turkey using your passport. Photos are also required.
Step 2 – Make a bank deposit in Turkey
Passport and Tax Registration Number are needed to open a bank account in Turkey. Also, you’ll need an official certificate, like a utility bill showing your current address within the country.
Step 3 – Locate an investment property that is worth at least 400000 USD.
The property has to be worth at least 400,000 USD and can be a one-time property or a number of units such as those investing in apartments in Turkey. The property must be close to being built or completed already with the Habitation Licence granted and Title Deed or Construction Services in place. It should be eligible as an Official Valuation to be eligible for citizenship.
Step 4: Purchase the property in Turkey
Property must be bought with a Bank Transfer with document and receipt of the transaction. It is important that the Title Deed Registry or Notarised Sales Contract must be annotated to state that the property won’t be sold in 3 years following purchase. After three years has passed the property can be sold and you will have the option to dispose of all your stakes in Turkey and keep your citizenship for life.
Step 5: Get the Certificate of Conformity
This is done by supplying the Official Valuation Survey and submitting the confirmation of the Bank Transfer to the Ministry of Environment and Urbanisation.
Step 6 Step 6 – Request for Turkish Residency
Apply for Turkish Residence through the Directorate General of Migration Management after you have all the documents required. An essential step to gaining citizenship.
Step 7 : Apply for Turkish Citizenship through Investment guide
You can now submit an application to apply for Turkish Citizenship at the Directorate General of Migration Management upon receiving your Turkish Residency and obtaining all the necessary documents to complete the process. Now you are able to apply for Turkish Citizenship.
Documents required to apply for Turkish Citizenship?
– Copy of birth Certificate – Each document must be stamped and authenticated from the country you reside in Ministry of Foreign Affairs and the Turkish Embassy in your home country . Alternatively, you can Apostille the documents in accordance with the Apostille Convention (Hague Treaty Convention 12)
Marital Status – This includes Marriage certification, divorce certificates or death certificate of spouse in case widowed. Each certificate must be authenticated and stamped with the stamp of your home country Ministry of Foreign Affairs and Turkish Embassy or Apostilled in accordance of the Apostille Convention (Hague Treaty Convention 12)
– Biometric photos 4 Biometric photographs with a white background and size 5×6 for any family member applying in addition to 8 additional Biometric photos that are regular size and on a white background for the main applicant only
Copy of the original Passport
– Power of Attorney granted
– Receipt of Wire Transfers
– Proof of Address / Certificate of Residence Real Estate Proof of Address must be supplied by government institutions. Utility bills, bank statements or bank statements are not acceptable. Each certificate needs to be stamped and authenticated from your country of residence Ministry of Foreign Affairs and the Turkish Embassy or Apostilled according in the Apostille Convention (Hague Treaty Convention 12)
All application forms completed in
Other ways to receive Turkish Citizenship through investing?
1 – Offer employment to more than 50 persons in Turkey
2. Fixed Capital Investment of at minimum 500,000 USD
3. Buy the State Dept Instruments worth 500,000 USD
4 – Deposit at least 500 million USD into the account of a Turkish Bank
5 – Venture Capital Investment Fund worth 500 000 USD
Be aware that all of these options listed above cost more than twice the cost of acquiring citizenship by investing in real estate.
Why should you invest in Turkey?
Excellent climate – Certain cities in Turkey have more than 300 sunny days weather year round. Buying a property in Bodrum to satisfy the requirements of citizenship offers a fantastic lifestyle for those who want glitz and glamour. Antalya offers a year round work-life balance, as well as beaches, mountains, and even skiing. Real estate in Fethiye is popular with British buyers, and is also home to the beautiful Blue Lagoon located in Oludeniz.
It is situated between East and West Between East and West Turkey serves as the bridge that connects both the East and West, and it offers a wealth of possibilities for business and travel. A property purchase in Istanbul is your entry point into the gateway of Istanbul’s metropolitan area.
Secure for families Family-friendly Turks are known to be very hospitable and warm to foreigners and foreigners as well. Residents who live in Turkey or invest in real estate can enjoy a secure and comfortable environment. There are some of the best international schools available for your children along with shopping malls that have branded stores full of stores, and other facilities available.
Turkish food Turkish food Turkish cuisine is among the best around the world. It is renowned for its delicious flavours and delights, Turkish cuisine will have you returning to Turkey often to sample a kebab or indulge in fresh veggies and vibrant food, whether you’re enjoying street foods in Istanbul or savoring gourmet dishes at a beachside restaurant.
Turkish healthcare – Offering affordable and excellent medical solutions, Turkey is fast rising as one of the leading destinations for healthcare and private medical tourism . It has five star hospitals throughout the country as travelers regularly visit for surgery at a fraction of the cost in their home countries.
Regional powerhouse – Turkey has been at the forefront of developed nations across the entire region. Being an EU Candidate Country as well as a G20, NATO Member, things look positive for Turkey moving forward.
Value for money – Due to the decline of the Turkish Lira, now is the best time to invest in real estate in Turkey with a great price. You can easily find a three or four bedroom property in the most sought-after areas in Turkey, to satisfy the 400,000 USD threshold. Value for money is also a factor countrywide, whether that is the cost of living, real estate or even day-to-day expenses.
Turkish Passport for investment FAQ
How long will it take to gain Turkish Citizenship by investment?
When you use Property Turkey as your agent It typically takes two to three months to complete the process and get your citizenship in Turkey – far quicker than other countries in the globe. To learn more, call us or enquire today to speak with one of the team members.
Do I need to live in Turkey to keep the Turkish passport or citizenship? Turkish passport?
No. You are not required to reside in Turkey an exact number or even a certain amount of days after you’ve completed the process.
Do I have to give up my original citizenship in order to change to Turkish? Turkish citizen?
No. You can keep your original passport and citizenship as Turkey allows its citizens to have dual citizenship.
When will my citizenship expire? the near future?
No. After you’ve purchased an item and maintained it for at least three years then your citizenship will be guaranteed indefinitely, as it will be for your spouse as well as the children that were included in your initial application.
Do I need to learn Turkish for the purpose of obtaining the Turkish passport?
No. In contrast to some citizenship programs across the globe, you’re not required to study the Turkish language in order to apply. If you’re intending to move to Turkey on a regular basis, learning the basics of the language is highly advised to make it easier to integrate into life in Turkey.
Can I get citizenship for my dependents and my children?
Yes. When you invest in Turkey in a home worth at least 400,000 USD you will be eligible to get the passport of yourself or your spouse as well as any children younger than 18 years old. Children who are over the age of 18 will have to apply to obtain the property they wish to own worth at least 400,000 USD.
How many countries can I visit with the Turkish passport?
Turkish passport is extremely strong. Turkish passport is extremely strong. You can currently travel visa-free to well over 100 countries in the world which includes Japan, South Korea, South American countries, and lots more. Being an Turkish Citizen also makes it relatively easy to gain access to Canada, the US, UK, Canada, Australia, and the EU.
Do I have an obligation to reveal my riches to the Turkish authorities?
No, you do not. The Turkish tax authorities don’t require or ask you questions about your financial situation or your assets.
Are there any tax implications I should be aware of?
Turkey has double taxation agreements with the majority of countries of the developed world as of 2021. If you’ve paid the relevant tax on your earnings that you earned outside of Turkey then you are not likely to pay tax by government officials of the Turkish government. Contact us now to speak with an Turkish tax expert who will answer any questions you might have.
Can citizens from countries not apply?
According to Turkish law, citizens from certain countries are currently prohibited in applying to Turkish Citizenship. These are presently nationals of: Armenia, Cuba, Nigeria, North Korea, and Syria.
What if I wanted to pay in a currency other that Lira?
Yes. The amounts are listed in US Dollars. However, you can pay in any currency you want. It is important to note that exchange rates and fluctuations in currency when you pay in a different currency.
Prime Property Turkey
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