Obtaining Turkish citizenship by investment | comprehensive guide
Turkey is currently one of the most important destinations for tourism and economics, especially after the remarkable development of Turkey’s economy. Turkey’s ranking in the top 20 is the most economically powerful and it competes to enter the top 10, so gaining Turkish citizenship is an important gain.
Turkish citizenship through real estate investment is one of the most popular types of acquisition of Turkish citizenship, and this method is of great interest to aspiring foreign investors, for several reasons relating to the conditions, services and facilities that have occurred in the Turkish Citizenship Law, especially in recent years.
In the next article, we will present everything about acquiring Turkish citizenship by investing from 1,000 to 2,000, and we will answer all the questions that may come to your mind beforehand.
Turkish citizenship by investment:
In 2017, the Turkish government modernized the citizenship program by investing, and then reduced the minimum investment required for citizenship in 2018. The minimum option for real estate investment was reduced from US $1 million to US $ 250,000, while this option was considered the most popular among global investors.
Investment is the fastest, most secure and smooth way to acquire Turkish citizenship, with the Turkish Government providing many facilities to investors.
Ways to obtain the Turkish citizenship by investment
- Turkish passport through purchase of property
- Turkish passport through bank deposit
- Turkish passport through purchase of government bonds
- Turkish citizenship by investing in Turkish business.
- Turkish citizenship by creating jobs for Turks
- Turkish citizenship through investment in real estate funds
1.Turkish citizenship through the purchase of property:
Turkish law establishes certain conditions for the real estate through which Turkish citizenship must be obtained:
The value of the property or real estate purchased is at least US $250,000 or the equivalent in Turkish currency at the exchange rate approved by the Central Bank of Turkey at the time of sale.
The buyer of the property from one of the nationalities permitted to own in Turkey. North Korea, Syria, Cuba and Armenia.
Purchase of property from a Turkish national, or from a Turkish construction company.
Pay for the property through a regular bank exchange.
A real estate evaluation report from a real estate evaluation firm accredited by the Government of Turkey.
Finally, the pledge not to sell the property was made for 3 years, as the undertaking was registered in the brick (title).
The property can be officially sold after three years.
The obtaining of naturalization through the purchase of property in Turkey go through several stages, the most important of which is the security study, which determines whether or not to acquire Turkish citizenship, but the waiting period for all stages to expire since the application is submitted varies from three and a half months to a maximum of five months, until the date of acquisition of citizenship and receipt of Turkish personal identity.
2.Turkish citizenship by deposit bank
You can apply for Turkish citizenship by depositing a sum of $500,000 in Turkish banks, provided that the deposit is not withdrawn for a minimum period of three years from the date of application.
The amount to be deposited had been reduced from US $ 3 million to US $ 500 under recent amendments to the conditions for granting Turkish citizenship to foreigners issued on the date of 18/09/2018.
This method is considered to be most appropriate for persons prohibited from owning property in Turkey.
Those who apply for Turkish citizenship through a bank deposit must go through the following steps:
The existence of a bank account in the name of the person applying for the Turkish passport in a Turkish bank.
Deposit of a sum of at least US $ 500.000, or the equivalent of other convertible foreign currencies specified by the Turkish Central Bank, or precious metals.
The value of the United States dollar is determined by the exchange rate of the dollar in the Central Bank of Turkey by the date of deposit.
And consider that: During the deposit period, currency exchange differences will not affect and will not be taken into account
Signing of a paper guaranteeing a reservation up to three years of deposit
A person applying for Turkish citizenship must receive a report from the Banking Regulatory and Control Authority of Turkey in order to match the amount deposited for the submission of Turkish citizenship, which takes approximately 10 days.
Prepare the necessary paperwork for the deposit file with his family and submit it to the Civil Registration in Turkey.
As to the question as to how long it would take to obtain Turkish citizenship through the bank deposit, this relates to the papers submitted, the information and documents submitted in the application for citizenship must be complete and without decrease. If so, the information and documents usually do not take nationality about two months from the date of the application. If she suffers from a deficiency or a malfunction or anything that gives rise to suspicion, it will take a lot more time.
3.Turkish citizenship through the purchase of government bonds
Investors can obtain the Turkish passport by buying government bonds similar to the bank deposit we mentioned earlier by buying $500,000 worth of bonds, provided they don’t sell for at least three years.
The value of government bonds that foreign citizens are required to purchase so they can apply for Turkish citizenship has fallen from $ 3 million to $ 500 thousand, all of which are provided by the Turkish Government to facilitate the process of obtaining Turkish citizenship for foreigners.
It is stated that investment in Turkish government bonds must be approved by the Turkish Department of Treasury.
4.Turkish citizenship by investing in Turkish business
Investing in the stock market is one way for you to acquire Turkish citizenship, or buy shares in a Turkish company at a minimum value of US $ 500 000. The amount was previously about US $2 million before the adjustment in 2018.
It is a condition of Turkish citizenship through the purchase of shares that your investment be approved by the Turkish Ministry of Industry and Technology first, of course time must be fixed for at least three years
In this case we have two ways;
Establishment of a company in Turkey
Purchase of shares in a Turkish company
If one of the two cases is investigated under the appropriate conditions and you have the necessary paperwork, you can apply directly for Turkish citizenship.
For papers required for naturalization through fixed business, the following:
Application for Turkish citizenship signed by the applicant in person.
Full investment bond.
Copy of passport information containing personal information.
Endorse the trade register, which agrees on the amount of the personal budget with the quality of the partnership.
Special report showing the amount of the budget with the approval of the sworn Financial Adviser.
In the sworn financial adviser’s report, the instrument proving the purchase of US $500,000 shares is issued.
Once the application has been completed, the data and the actual existence of the documents and the company concerned are verified by the ministry dealing with the matter, and only if confirmed.
If the information is accurate, complete and detailed, it usually requires no more than two months from the date of application.
5.Turkish citizenship through employment of Turkish workers
The amendment to the Turkish Citizenship Law covered an exceptional case of investment involving the employment of Turkish workers, whereby the owner of a foreign company providing employment opportunities to at least 50 Turkish citizens – having been required to employ 100 citizens before the amendment – was entitled to Turkish citizenship.
With regard to the length of time required for the processing of Turkish citizenship through employment, it is 45 days from the beginning of the transaction, which involves the full delivery of the required documents to the Turkish Government until the transaction is signed by the President of the Republic, who has the power to approve the granting of Turkish citizenship.
6.Turkish citizenship through investment in real estate funds
Investment at least $500,000, or corresponding in Turkish currency TL, other currencies in real estate investment funds in Turkey, or capital funds for investment projects provided that the investment share is retained for more than three years.
According to figures from the General Directorate of Population and Citizenship of the Ministry of Interior of Turkey:
Between 2018 and 2019, 2611 foreign investors obtained Turkish citizenship
The number of foreign investors who obtained Turkish citizenship with their families is 9,962.
After the amendment of the decision by the Turkish government on the acquisition of Turkish citizenship in September 2018, investment in housing estates for foreigners increased dramatically.
Until January 2020, sales of Istanbul real estate to foreigners increased by half compared to 2019 and broke the record.
Selling real estate in Turkey to foreigners saw a 15% increase in 2019.
Iraq, Egypt, Afghanistan, Palestine, Libya, Lebanon, Saudi Arabia, Union of Saint Kitts and Nevis, Azerbaijan, Pakistan are among the most important countries to obtain Turkish citizenship through investment.
General conditions of naturalization in Turkey
There are several general conditions that must exist in applicants for Turkish citizenship, whether through ownership of real estate, bank deposits or any other investment method.
Conditions that enable you to obtain Turkish citizenship:
The foreigner has reached the age of majority as defined by the laws of his country or Turkey in the case of persons without nationality (stateless persons)
Resident in Turkey for five years without interruption before application.
Proof of the purpose of his residence in Turkey, whether for investment, work or study
He intends to settle in Turkey and has taken action to prove it.
The foreigner should be of good manners and a good reputation
Being responsible and trustworthy
He has the ability to speak Turkish sufficiently and to the extent that he can manage the means of living.
He has enough income for his livelihood in Turkey.
The report must be issued by an institution of the Ministry of Health of Turkey.
To affirm that he has never been in criminal courts and that his presence does not constitute a threat to national security and public order in Turkey.
It should also be noted that there is no specific type of real estate through which you can acquire Turkish citizenship, such as apartments, villas, offices, shops, land, etc.
You can obtain citizenship by buying real estate in a number of Turkish states and it’s not a requirement that real estate be in a single state.
Benefits of Turkish citizenship through investment
Having reviewed the terms of the investment in Turkey, we find out how easy it is and the cooperation of the Turkish authorities through the provision of financial and governmental facilities that facilitate foreign investment and naturalization through investment.
Turkish citizenship through investment places in your hands features and characteristics that otherwise do not exist:
You can acquire Turkish citizenship by investing without a personal presence requirement.
When you get Turkish citizenship, immediately you get the Turkish passport, which is one of the best around the world, and it’s very advanced right now.
The family (wife and children under 18 years of age) also receives second citizenship at the same value as the investment without any increase. This is a very special feature if the method of investment is the cheaper and easier way to secure Turkish citizenship for all members of the family.
There is no residence requirement in Turkey or a minimum residence requirement in addition to the fact that the investor receives temporary residence immediately after the investment.
It can dispose of property or recover funds after three years.
There is no requirement to declare assets of funds or income.
The speed of the transaction is such that obtaining Turkish citizenship and a passport takes no more than four months, especially for investors.
Papers required to apply for Turkish citizenship
First, the general papers include:
An interpreter’s passport is certified by the notary, and if the person is married, he requests a copy of the passport of his wife and children under 18 years of age.
Translated and certified marriage contract in case you’re married.
Birth certificate of the person applying for citizenship as well as birth certificate of his wife and children.
Two photographs with a white background without decoration for him, the wife and the children.
The registration sheet.
Paper under temporary residence.
Health insurance for a year to stay.
Apartment contract (one of the papers required for naturalization in Turkey through purchase of property)
Documents establishing your investment and equity balance or deposits (naturalization through investment)
Documentation establishing the status and condition of the workers (naturalization through employment of Turkish workers).
- Photograph of the investor’s residence.
- Certificate of Investment Conformity from the Land Registry Management.
- Special Agency for a Competent Lawyer to Conduct the Treatment of Nationality.
- The ratification of all documents by the Ministry of Foreign Affairs of the home State and the translation of these documents into Turkish and their ratification by the Turkish consulate in the country of origin.
Steps to obtain Turkish citizenship by investment
Opening of a bank account at a bank in Turkey or purchase of appropriate property under the terms of the Turkish Government mentioned earlier
An investment that meets the requirements in fixed business in the amount specified.
Approval by the Ministry of Industry and Technology.
Obtaining a temporary residence permit for the investor
Applying for Turkish citizenship within the Investment Office directly during the acquisition of the residence permit with all necessary papers.
Issue of the naturalization order.
So we’ve covered everything about obtaining Turkish citizenship through investment. After being briefed on this article, you can figure out which way is easier for you and which is closer to you. Turkey welcomes you as an investor and then invests all of its doors by granting you the right to Turkish citizenship that will open up to you all the horizon in which you aspire.
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