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Investment Citizenship

Turkey Citizenship by Investment: The Definitive Guide 2022

Updated: 19 September 2022

Living in Turkey means treating yourself to splendid scenery, surrounding yourself with the beautiful sea, munching on delicious food, and being welcomed by warm neighbors. Turkish people live a vibrant and rich lifestyle as compared to the residents of many other countries.

Moreover, Turkey is a country of significant geostrategic importance since it lies on the cross borders of Europe and Asia.

With all these positives, who wouldn’t wish to settle down in a Eurasian country? Not to mention, with the latest citizenship programs, entering Turkey is no more an uphill struggle. And most importantly, the business opportunities an expat has here are just terrific, and investing in Turkey is profitable.

Turkey citizenship by investment program rose to fame after the residency programs by Spain, Portugal and Greece gained immense success. Also, the most significant reason foreigners want to get a Turkey investment visa is that Turkey is that it gives them access to European and Asian markets.

So, this was just a little brief of the program. Do you know what the perks of getting Turkish citizenship are? Moreover, are you even eligible for the Turkey investment visa program? If not, what can you do to fulfill the requisites of the criteria?

What You Will Find in This Article

Brief Summary: Citizenship by Investment in Turkey

Turkey’s citizenship by investment was announced in 2016. Late in January 2017, the Turkish government launched the program to trigger foreign direct investment and improve its real estate sector. Under this program, the investor is free to decide from the various means he wants to contribute to Turkish society.

When Turkey’s citizenship by investment program was launched, the government quoted the entry cost to be at least $1 million. Consequently, this did not attract many investors. On realizing that the amount set is a little unreasonable, the Turkish government dropped the investment needed to $250,000 in mid-2019.

Now, the country makes an average of $250 million every month from its foreign investors only. However, as the number of applicants willing to acquire Turkish citizenship is increasing, the minimum cost has been raised from $250,000 to $400,000. 


Turkey Golden Visa Highlights

Minimum Investment Amount: €400,000
Processing Time: Three to four months
The Key Benefit: Free movement benefit in Turkey and
many countries in the region


Eligibility for Turkey Citizenship by Investment

In order to qualify for Turkey citizenship by investment program, the principal applicant

  • Has to be at least 18 years old 
  • Must have never stayed illegally in Turkey
  • Paying the taxes and costs for the process

Required Documents for Turkish Golden Visa

  • Birth certificates of all the applicants
  • Passports of each applicant
  • Residence Proof (Recent utility statement)
  • Biometric, colored passport photos of each applicant
  • Marriage certificate (optional)
  • Death or divorce certificate of spouse (optional)
  • Proof that all the applicants have a clean criminal record
  • Proof of Health Insurance (valid in Turkey) 
  • Proof of investment of $400,000 into a Turkish bank account or lawyer’s client account
  • Turkish Tax ID Number (necessary)

Note: You can add your spouse, dependent children below the age of 18, and children of any age with disabilities.

Benefits of the Turkish Citizenship by Investment

You might be unaware, but there are many benefits of Turkish citizenship by investment program. Some of the fascinating benefits are enlisted below.

Live, Work, and Study in Turkey

The Turkish passport gives you and your family the right to live, work, and study in Turkey. For instance, you can generate income from your real estate property, or perhaps by renting it out. Moreover, if you are planning to move with your family, you can relieve the stress about your children’s education. Since the visa is granted to the whole family, you and the children can access the education system and the Turkish high-standard lifestyle. 

Quick Path to Citizenship

Turkey citizenship by investment is the quickest route to obtaining Turkish citizenship. After you invest $400,000 in real estate, you are entitled to get your Turkish passport in less than two months from submitting the application.

Family Reunification

The applicants for Turkey investment citizenship are free to bring their spouse, children (dependent, below 21), and dependable parents along with them. Besides, all the members can access free healthcare facilities like the local Turkish people. 

Easy Schengen Visa

Turkey citizenship holders can easily apply for a Schengen visa without much hassle, as long as they can provide sufficient documents. Furthermore, there are many other countries having bilateral agreements with the country to allow visa-free travel. These include Hong Kong, Singapore, Japan, Mexico, South Korea, and almost full Latin America.

E2 in the US

If you wish to relocate to the US, you can easily apply for an E-2 investor visa to enter the country. The two countries have a Treaty agreement for USA E-1 and E-2 Investor Visa. Getting citizenship of Turkey is a great opportunity for those who can’t apply for E2 Visa through their original citizenship.

No Residency or Language Requirements

There is no fixed time span for which a person has to stay in Turkey before or after the citizenship by investment in Turkey route has been completed. Moreover, you are good to go even if you are not acquainted with the local Turkish language.

Turkey Citizenship by Investment Routes

To apply for citizenship by investment in Turkey, there are certain investment routes, such as:

  • Real estate acquisition
  • Creation of jobs
  • Capital Transfer

Investment Requirements

In terms of investment, there are three ways how a foreigner can obtain a Turkish passport by investment. 

1. Real Estate

There are plentiful options to invest in real estate. An individual has to invest $400,000 in real estate in Turkey in whichever type of property you want to purchase. You can buy a villa, apartment, or land. 

Besides, there is no need to take a pre-approval to buy properties since the estate is not typically overvalued. 

Note: You can also buy multiple properties whose total amounts to the minimum $400,000 figure. However, they must be located in the same neighborhood. 

Also, do not forget to get your properties registered the same day you purchase them. The acquirer has to retain the property for at least three years.

Note: Property prices at the most expensive locations are around $5,500 per square meter. 

2. Creation of Jobs

Another route to citizenship in Turkey by investment is by creating jobs for at least 50 Turkish people. So, start your own company and outsource some of the labor in exchange for citizenship. Since establishing and running a country comes with a price, it would be wise to take some legal assistance.

Therefore, if you wish to explore Turkey’s business world, employ locals and run a legitimate international business. 

3. Capital Transfer

Foreign investors who are neither willing to invest in real estate nor navigate the business world can make a capital investment. The minimum capital investment amount for Turkey citizenship investment has been currently set at $500,000. 

So, what is to be done with this amount?

  • Deposit it in a Turkish bank
  • Contribute to government bonds
  • Invest in fund shares.

Make sure to retain the investment for three years.

One significant benefit of Turkey citizenship investment by capital transfer is that you don’t necessarily need to deposit the amount in Turkish currency, Lira. In fact, it is also advised that you must invest using a stable currency like the Euro.

Note: As an international investor, what makes the most sense is the investment in real estate. Not only because it requires a low amount of money, but also because its value is expected to rise in later years. Also, you can sell it or rent it.

Residency Requirements

The good news is that there are no residency requirements for Turkey citizenship by investment program.

The applicant can apply remotely and later go to Turkey to check out the properties or whatever investment mode you have chosen.

Certificate of Eligibility for Turkey Golden Visa

Depending on the type of investment you make, you must apply to one of the following organizations to receive a Certificate of Eligibility for investment in Turkey: 

  • Turkish Land Registry and Cadaster of the Ministry of Environment and Urbanization – Real estate route
  • Incentive Application and Foreign Capital of the Turkish Ministry of Industry and Technology – Capital Investment Route
  • Department of Financial Consumer Relations of the Banking Regulation and Supervision Agency – Deposit in a Turkish bank account
  • Turkish Ministry of Treasury and Finance – investment in government bonds
  • Department of the Brokerage Activities of the Capital Markets Board of Turkey – real estate investment fund share or venture capital investment fund share
  • General Directorate of International Labor of the Ministry of Family, Labor and Social Services – Company setup

Get Golden Visa: Who We Are and How We Can Help You

Get Golden Visa is a full-service investment immigration agency.  We provide end-to-end solutions on residence and citizenship by investment programs in numerous countries worldwide.

We have local offices in Istanbul, Turkey. We have legal professionals, as well as licensed real estate professionals within our team.

We work with clients from all around the world, interested in obtaining Turkish Citizenship by Investment or in making real estate investments in Turkey.

Contact us and talk to one of our experienced team members to help you with any and all your questions.

Get in Contact




    Turkey Citizenship Scheme Application Timeline

    Hopefully, the readers are now convinced to get a Turkish passport. Now it’s time to understand the procedure to follow to apply.

    Once you’ve chosen the way you want to invest in Turkey, you will be required to fill out a residency permit application. The whole process usually takes up to three to four months. But the best thing is that you don’t need to be physically present in the country for an interview or document purposes.

    Now comes the part that is a little painstaking. You will be required to do a lot of paperwork! Notary certificates, official translation (if required), etc.; the process will surely consume a lot of your time. 

    So, it’s great if you hire a certified professional to escalate the process. 

    Besides, the process is hugely similar whether you opt for real estate, job creation, or capital investment route. Here are the steps involved.

    Step-by-Step Guide for Real Estate Route

    Step 1: Speak to Get Golden Visa Team and obtain new Turkish Tax ID numbers 

    Without a tax ID, the legal system can’t allow you to proceed further and make a property purchase. Once you have the tax number, open a bank account in the country. Our experienced team will guide you through the process.

    Step 2: Do research and identify the property you want to buy

    This is the step where you will commence all the paperwork.

    Step 3: Collect documents

    For investment in real estate, you need to receive a certificate of eligibility, and that will be issued only after you qualify for Turkey citizenship by investment program. For this, you must apply to the General Directorate of Land Registry and Cadaster of the Ministry of Environment and Urbanization.

    Step 4: Get your residence permits

    A person has to be a legal resident while starting the application procedure. Therefore get your residence permit as soon as you’ve made your investment for a Turkish passport. It will be issued the same day you submit the application. No wonder this is the fastest residence process throughout the world.

    Step 5: Submit your paperwork

    Lastly, after all the paperwork has been done as checked by the hired professional, you reach the final step- submitting your paperwork (all documents and application forms) to the Provincial Directorate of Census and Citizenship

    All these steps can be easily done in a span of 24 hours! Firstly, you don’t need to present in the country to do this. Secondly, even if you are available in Turkey, you can finish it off during the day, drop off the paperwork, and get back home with the title deed.

    Time to celebrate: You will receive your passports within the next three-four months of applying!

    Our team of experts can guide you through your Turkey citizenship by investment process.

    Low Due Diligence

    The Turkish real estate due diligence is a complete report containing information about the property’s legal status. It lets you know if it is involved in any debts or lawsuits and is safe to be purchased.

    Therefore, if you are buying a property in Turkey, the real estate specialist will go to the Land Registry to verify and check the registration number. Furthermore, the information related to leasing and other obligations of the property will be verified. 

    Moreover, the real estate will conduct due diligence to confirm whether the plan about the property is permissible according to the local municipality. The specialist will also verify construction licenses issued by the local authorities.

    Tax Consequences of Citizenship in Turkey

    Turkey doesn’t impose any taxes on the income you are receiving from abroad. Besides, you are not liable to pay taxes in Turkey if you do not stay there for more than six months. However, you need to pay a tax on your income generated within the nation.

    For instance, if you have rented out your property, you are required to pay taxes. Property tax is paid in two installments every year.

    • The annual tax rate is 0.2% for apartments and houses bordering a metropolitan municipality like Istanbul. 
    • If you own a property worth 1,500,000TL, the owner has to pay 3,000TL per year in total. Pay the first installment in May and the second one in November. 

    Furthermore, if you’re selling a property, you’re supposed to pay the accumulated tax of all the previous years before transferring the deed transfer.

    • Tax on personal income is rated at up to 35% on income exceeding TL110,000.

    Also, it is advisable to contact a Turkish tax specialist to learn more about the tax structure.

    Dual Citizenship Turkey

    Turkey allows dual as well as multiple citizenships, and no nationality has been restricted officially. 

    Investors applying for Turkey citizenship by investment are not required to renounce their old citizenship of their country of origin and get Turkish citizenship. This gives a significant advantage to people who wish to stay and work in their native country. 

    However, foreign citizens will be exempt from some Turkish services like mandatory military service.

    Note:  Before you apply for Turkish citizenship make sure that your country of citizenship doesn’t restrict you from acquiring a Turkish citizenship.

    Visa-free Destinations with a Turkish Passport

    Turkey nationality gives you a lot of benefits, one of which is that you can travel to many countries visa-free or visa-on-arrival. Individuals with a Turkish passport can access almost 111 countries all over the world. Some of these countries are Qatar, Singapore, Tunisia, Jordan, Iraq, Japan, South Korea, Malaysia, Hong Kong, Indonesia, Belarus, Bosnia Chile, Colombia, Ecuador, El Salvador, Georgia, Paraguay, Serbia, South Africa, Thailand, Northern Cyprus, Ukraine, Uruguay, Morocco, Brazil, Argentina, Kuwait, Bahrain, Lebanon and most of the African countries. 

    Some of these countries offer visa-free travel, while some offer visas on arrival. In addition, these also allow a person to stay there for a specific duration. For instance, one can travel to Brazil visa-free and stay there for 90 days.

    Alternatives to Turkey Citizenship by Investment

    Apart from Turkey citizenship by investment program, many other European countries have launched their respective citizenship programs. Indeed, these are attracting a large number of investors. The economies of these countries have benefitted like never before, and foreign citizens are privileged to live the international lifestyle. 

    Some of the most renowned citizenship by Investment programs are:

    Portugal Golden Visa

    The Portuguese Golden Visa program is an excellent opportunity for investors looking forward to making a good investment. The program was launched in 2012 and entails the following requirements and benefits.

    Requirements

    • Capital transfer of €1.5 million in Portugal
    • Establish a company and employ 10 Portuguese people
    • Purchase a real estate property worth €500,000
    • Invest €500,000 to Portugal Golden Visa funds

    Benefits

    • Security of a second residence and passport
    • Access to the European education system
    • You can apply for Portuguese citizenship after staying there for five years.
    • Your family can join you, and each member will be eligible for all the public services.

    Spain Golden Visa

    Spain is no doubt a wonderful country. So, if you have ever planned to move to this great European nation, you have a good deal. The Spain Golden visa was launched in 2013, and the requirements and benefits are as below.

    Requirements

    • Invest a minimum amount of €500,000 in real estate

    Benefits

    • The whole family is eligible for the visa and other services offered by the country.
    • An individual has the right to access the healthcare and education system of Spain.
    • Apply for permanent residency after staying there for five years
    • Apply for citizenship if you complete ten years of stay in Spain.

    Greece Golden Visa

    The Greece Golden Visa program is one of the most popular as well as affordable. All EU and non-EU residents can apply for the permanent residency program in Greece and benefit from the European services it offers.

    Requirements

    • Purchase real estate property worth a minimum of  €250,000
    • Capital contribution of a minimum of €400,000 in a Greek registered company
    • Purchase of shares or corporate bonds whose minimum acquisition value is €800,000
    • Deposit EUR 400,000 in a Greek bank.

    Benefits

    • Visa-free travel to the Schengen zone.
    • No stay requirement in Greece
    • Apply for citizenship after staying for seven years
    • The individual and the whole family have access to the Greek education and healthcare system.

    Malta Citizenship by Investment

    The Maltese citizenship by investment program has been renewed recently and made some crucial amendments. In short, it has become easier to gain a European passport through investment. Besides, the process might be a little lengthy but ultimately beneficial.

    Requirements

    • Proof that a person has stayed for a period of 36 months in Malta.
    • Purchase a residential property having a minimum value of €600,000 or €700,000.
    • Sign a rental contract of at least €16,000 per annum for five years.
    • Donate €10,000 to a registered cultural, scientific, philanthropic, or artistic non-governmental organization.

    Benefits

    • Passport for the whole family and residency right for an indefinite period
    • As a part of the Schengen zone, one can travel visa-free throughout this zone.
    • Right to travel, live, work or study all across the European Union
    • Tax efficiency

    Now that you are totally aware of the importance of citizenship through investment programs, you can apply for the one you think is suitable.

    Good luck in advance with acquiring your second citizenship.

    Alternatives to Turkey Investor Citizenship Scheme

    Frequently Asked Questions About Turkish Passport by Investment

    How much do I need to invest to get Turkish citizenship?

    The minimum investment amount to get Turkish passport by investment is $400,000. This is the investment amount through real estate purchases. Until 2022, this amount was $250,000.

    For other investment routes, the amounts start from $500,000. Once you make the qualifying investment, you can expect to get your citizenship in three to four months.

    Can I get Turkish citizenship by buying a house?

    Yes, you can become a Turkish citizen by buying a house. In fact, it’s one of the most popular routes under the Turkey citizenship by investment scheme. The requirement is that the property’s worth is a minimum of $400,00. Also, you’ll need to get a certificate of eligibility from relevant authorities.

    Does Turkey sell citizenship?

    Turkey grants citizenship in return for an investment, as most Golden Visa countries do. So this can be considered citizenship by investment. Eligible investors can choose their preferred investment route and start the process. Turkey investor citizenship process can be completed in less than six months.

    Is getting Turkish citizenship easy?

    If done correctly, getting Turkey investment citizenship is very easy. The process is simple and straightforward. As long as you have the right documents and make the qualifying investment, you can expect to become a citizen in three to four months. Getting professional help will make the process easier.

    Can a foreigner become a Turkish citizen?

    Yes, foreign citizens can become Turkish citizens. Turkey allows dual citizenship but you’ll also need to check with your home country and see if it allows dual citizenship. Turkish citizenship can be obtained through investment or naturalization.

    Is a Turkish passport strong?

    Turkish passport is considered strong as it allows visa-free access to more than 110 countries. With a Turkish passport, you can visit many Asian countries without getting a visa. These countries include Thailand, South Korea, Japan, and the Philippines. Also, many south American countries, such as Argentina and Venezuela accept Turkish passport holders without a visa.

    Is there a Turkey residency by investment scheme?

    Turkey doesn’t have a separate residency by investment program. You can directly apply to the citizenship program and get your citizenship in the country, which automatically translates as residency.

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