Turkish Citizenship by Investment

While the easiest route to obtain Turkish citizenship by investment is through buying property in Turkey, there are several other investment options to choose from. The primary applicant must meet one of the following investment requirements: purchase real estate for at least $400,000; invest a minimum of $500,000 in fixed capital; place a deposit of at least $500,000 in a Turkish bank; invest at least $500,000 in government bonds; invest at least $500,000 in a real estate investment fund share or venture capital investment fund share; invest at least $500,000 in a private pension system for a minimum holding period of three years; or create 50 jobs opportunities.

For investors to be successful in their application, they must present the following documents:

• Each applicant’s passport;
• Each applicant’s biometric and colored passport photos;
• All applicants’ birth certificates;
• Proof of Residence (recent utility statement);
• Proof of Medical Insurance (valid in Turkey);
• Certificate of marriage, divorce, or death of a spouse (optional);
• Evidence that all candidates have a clean criminal record;
• Turkish Tax Identification Number (necessary);
• Proof of a $400,000 minimum investment in a Turkish bank account or a lawyer’s client account.

Investment options

Citizenship by Investment in Turkey: Brief Summary

Turkey’s Citizenship by Investment scheme was declared in 2016, and later introduced by the Turkish government in January 2017. It aims at attracting foreign investors into the country by providing them with multiple investment options, from real estate properties to government bonds, in exchange for obtaining Turkish citizenship.

When Turkey’s citizenship by investment program was first announced, the government stated that the admission fee would be at least $1 million, which did not entice many investors. Recognizing that the established sum was a little excessive, the Turkish government reduced the minimum required investment to $250,000 in 2019.

Now, the country earns an average of $250 million each month from foreign investors alone. This rise in applications has led the Turkish government to increase the program’s minimum investment threshold from $250,000 to $400,000.

Personal Benefits of the Turkish CBI

There are several advantages to Turkey’s Citizenship by Investment scheme:

• Opportunity to live, work, and study in Turkey. The Turkish investor visa allows visa holders and their families to live, work, and study in the beautiful republic. For example, if you want to relocate with your family, you won’t have to worry about your children’s schooling because the visa is issued to include your entire family.
• Schengen Visa. Citizens of Turkey who can present sufficient documentation can apply for a Schengen visa without any difficulty. Moreover, many other nations, including Singapore, Hong Kong, Japan, South Korea, Mexico, and nearly all of Latin America, have bilateral agreements with the country that enable visa-free travel.
• E2 in the United States. If you want to migrate to the United States, you may easily apply for the E-2 investor visa. The two nations have a treaty agreement for the E-1 and E-2 Investor Visas issued by the United States.
• Relocate to the United Kingdom. If you want to move to the UK, all you have to do is apply for a business person visa and, if you wish, you can eventually get British citizenship.
• No residence or language requirements. There are no stay requirements in Turkey before or after receiving your visa. You’re able to receive it even if you don’t speak Turkish.
• Fast track to citizenship. After investing $400,000 in real estate, you may acquire your Turkish passport in less than two months from the time you file your application. Such an easy scheme makes the Turkish citizenship by investment program a speedy way to acquire Turkish citizenship.
• Family reunion. Applicants are permitted to bring their spouse, dependent children (under 21), and parents with them. Furthermore, all members have access to free healthcare, much like the locals.

Turkey Citizenship by Investment Requirements

According to the  Global Citizen Solutions Global Passport Index, the Turkish passport ranks at 95 among all passports, giving its holders visa-free access to 126 countries, and access to the country’s captivating cities and quality of life. With the Turkish passport standing at 96 in the Enhanced Mobility Index, and at 78 in the Investment Index, it is no surprise that foreigners choose Turkey as their second home.

Anyone who plans to get the Turkish passport will be provided a wide range of investment possibilities. The three main routes for a foreigner to receive a Turkish passport through investment are:

Real Estate Investment

Applicants have several opportunities to invest in Turkish real estate, as long as they place a minimum of $400,000 in Turkish real estate to become eligible for the scheme. They can purchase a villa, an apartment, or a plot of land, or even purchase numerous homes totaling $400,000. The latter, however, must be in the same neighborhood.

Since real estate properties in Turkey are not often overpriced, there is no need to obtain letters of pre-approval. The most costly regions have property values of about $5,500 per square meter. Once purchased, the property has to be registered on that same day, and the investor must keep ownership of that property for at least three years.

Job Creation

Another way to obtain a Turkish passport is to employ at least 50 Turkish citizens. You can create your own business and outsource some of the work, or employ locals and operate a reputable international firm in Turkey’s commercial sector, in exchange for citizenship.

Capital Transfer 

For foreign investors who do not want to engage in the real estate sector, the Turkish CBI scheme offers a route to citizenship through capital investment. The first capital contribution is presently fixed at $500,000. This amount can be deposited in a Turkish bank, contributed to government bonds, or invested in venture funds or capital shares, and has to be retained as an investment for three years.

One big advantage of capital transfer is that the sum does not need to be deposited in Turkish currency, Lira. However, it is recommended that you invest in a solid currency such as the Euro.

Turkey Citizenship By Investment Timeline

Once candidates have decided how they want to invest in Turkey, they must fill out a resident visa application form. The process might take up to three or four months, which makes it one of the fastest application procedures across all CBI schemes. The best part is that you do not need to be physically present in the country to conduct an interview or submit your documents.

Be prepared to face a lot of paperwork, as you will be required to submit notary certificates, official translations (where necessary), and so on. It would be helpful if you hire a certified specialist to ensure that you have a successful application. Whether you choose the route of real estate, job creation, or capital investment, the overall process is relatively the same, and the steps are as follows:

1. Get Turkish Tax ID Numbers and create a Turkish bank account where you will place your bank deposit. The legal system will not enable you to proceed with a property acquisition unless you have a tax ID number.
2. Perform research and identify the property you wish to purchase. This is the stage at which you will begin all of the paperwork.
3. To invest in real estate, you must first get a certificate of eligibility, which will be granted only after you have qualified for the Turkey citizenship by investment program. To do so, the petitioner must apply to the Ministry of Environment and Urbanization’s General Directorate of Land Registry and Cadaster.
4. When beginning the application process, a person must be a legal resident. As a result, obtain your residency permit as soon as you have invested in your Turkish passport, which will be issued to you the same day you submit your application.
5. You can begin sending all the necessary paperwork and application forms to the Provincial Directorate of Census and Citizenship once it all has been completed and examined by the hired professional.

As previously mentioned, you are not required to be in the country to accomplish this. Even if you are in Turkey, you may complete it during the day, drop off the papers, and return home with the title deed.

You may get your passports after three to four months of submitting your application. This passport has a ten-year validity period, so you don’t have to renew it every three or four years.

Other ways to Acquire Turkish Citizenship

While it may prove itself lucrative to invest in Turkish real estate as a way for you to acquire Turkish citizenship, there are alternative routes to acquiring the citizenship status. The easiest of which is by birth or descent – if an individual can successfully prove that they come from a Turkish lineage, and present the necessary evidentiary documents to prove their claim, they will be granted immediate citizenship status. Other routes can also be:

• By proof of marriage to a Turkish citizen – granted after three years of marriage
• By proof of employment – after five years of contractual employment in Turkey
• By proof of naturalization – after five years of living in Turkey, on the condition that you do not leave the country for more than six months during that period.
• For special merit (Turquoise Card) – for outstanding achievements in business, culture, science, or sports

Frequently Asked Questions

How much do I need to invest in Turkey to get citizenship?

The minimum investment sum required for an applicant to qualify for Turkish Citizenship by Investment is $400,000, which can be placed in real estate property.

Can you buy citizenship in Turkey?

Foreign investors may acquire Turkish citizenship through the Turkish CBI program if they purchase real estate worth $400,000 or more, or invest a minimum of $500,000 in government bonds, venture capital funds, and other shares.

Can you get Turkish citizenship by buying a property?

Yes. If you buy a property worth at least $400,000, you can get Turkish citizenship and a passport for yourself, your spouse, and children under the age of 21.

How much does Turkish citizenship cost?

Obtaining Turkish citizenship requires a minimum investment of $400,000 in real estate plus fees, making the Turkish CBI one of the most affordable citizenship by investment programs on the market.

How much does it cost to invest in Turkey for residency?

Turkish residency by investment requires a minimum investment of $400,000 in real estate property. Once the property is purchased, the residence permit is valid for one year before being renewed for another five years. Although any foreigner can purchase property in Turkey, if it is not held by the state, the investor will be required to get a professional realtor’s help.