You can receive Turkish citizenship by investment if you have enough funds to invest in the country. It’s the shortest way to have access to the Schengen Area, enjoy the free economic market and take advantage of the tourism industry.
This article will explain who can apply for Turkey citizenship through investment, requirements, and the application process.
Who is considered eligible for Turkey Citizenship by Investment?
Turkey Citizenship by Investment is open to anyone who invests a certain amount of money:
- The main applicant must be at least 18 years old in order to qualify for Turkish citizenship through an investment program.
- You can’t have been in Turkey illegally at any point in your life.
- Covering the process’s taxes and expenses.
The following documents are required: All applicants:
- birth certificates
- Proof of residency (Recent utility statement)
- colored passport photos
- Marriage certificate
- Death or divorce certificate of spouse
- Proof that all applicants must have a clean record of criminal activities
- Proof of their health insurance (should be valid in Turkey)
- Proof of investing $250,000 or more into a Turkish bank account or client account of the lawyer
- Turkish TRY currency (required)
Notably, you can bring your spouse, minor children who are dependent on you, and children with special needs.
Note; the citizens of the following countries can not apply for citizenship in Turkey through investment:
- North Korea
Requirements of Turkey Citizenship by Investment
The below-mentioned requirements must be met in order to be eligible to apply for the Turkey CBI.
There are three ways for a foreign national to invest in order to obtain a Turkish passport in Turkey.
investment in real estate
Real estate investment has a wide range of possibilities. To buy any type of property in Turkey, you’ll need to put down a minimum of $250,000 in cash. A villa, an apartment, or land can be purchased.
Pre-approval is not required for property purchases because the property is not typically overvalued.
You may also buy as many properties as you want if the total purchase price does not fall below the $250,000 threshold. The only restriction is that they have to be in the same city or town to be considered neighbors.
You should also register your properties the same day you buy them. The buyer must keep the property for a minimum of three years after purchase.
The most expensive places to live have property prices per square meter around $5,500.
You can receive citizenship by creating jobs for at least 5o Turkish people in the country. You start your own company and hire some of the citizens. Bear in mind that you might need assistance in managing the company and taking care of the hired staff.
Investment No. 3: Transfer of Capital
Foreign investors who don’t want to get their hands dirty in the business world or invest in real estate can still make a capital investment. The current capital investment threshold is $500,000.
So, what are we going to do with all of this cash?
- Make a deposit at a Turkish bank with the money.
- Contribute to the government’s bond program or buy stock in a mutual fund.
- Keep your investment intact for at least the next three years.
Transferring capital has the advantage of not requiring a deposit in Turkish Lira, which saves time and money. In fact, investing in a stable currency like the Euro is highly recommended.
Investing in real estate makes the most sense if you’re an international investor. Not only is it inexpensive, but its value is likely to rise in the future as well. You can also resell or lease it.
Conditions of Residency
By Investing in Turkey, you can earn Turkey Citizenship by Investment without having to live there.
A potential investor can submit an application remotely and then travel to Turkey to look at potential investments.
How Can you Apply for Turkey Citizenship by Investment?
- To begin, apply for and receive new Turkish Tax Identification Numbers. A property purchase cannot be completed unless you have a valid tax identification number. Open a bank account in the country once you’ve obtained your tax identification number.
- Do your research and find the property or land you want to purchase. At this point, you’ll start filling out all of the paperwork.
- Suppose you want to invest in real estate in Turkey. In that case, you must first qualify for Turkey Citizenship by Investment through an investment program in order to receive a certificate of eligibility. Those interested should contact the Ministry of Environment and Urbanization’s General Directorate of Land Registration and Cadaster. To begin the application process, a person must be a legal resident of the country where they intend to apply. This means that as soon as you’ve invested in a Turkish passport, you should apply for your resident permit. You’ll get it the same day you apply for it. It’s no wonder this is the world’s quickest residence application process.
- Last but not least, you must submit all of your paperwork (documents and application forms) to the Provincial Directorate of Census and Citizenship after it has been thoroughly checked by the hired professional.
- All of these stages can be completed in just one day! To begin, you are not required to be physically present in the country in order to complete this transaction. You can also finish it during the day, drop the paperwork, and return home with your title deed even if you’re not available in Turkey.
- It’s a reason to be happy: Following your application, you should receive your passports in three to four months.
- In addition, this passport is valid for ten years from the date of issue. As a result, you won’t have to renew it every three to four years as previously thought necessary.
What is Low Due Diligence?
An extensive report on the legal status of the property is included in the Turkish real Low Due Diligence. It tells you if it has any outstanding debts or lawsuits against it, and if it does not, you can buy it with confidence.
To ensure the registration number is correct, your real estate agent will visit the Land Registry in Turkey. In addition, the property’s lease and other obligations will be checked for accuracy.
Real estate professionals will also do their due diligence to confirm that the property’s plan is legal under the rules of the municipality where it is located. In addition, the specialist will check any building permits obtained from the local authorities.
Let’s sum up…
Turkey is one of the most famous countries to receive citizenship through investment. You have $250,000, you can receive your passport in a short period of time. The doorway to the Schengen Area will be opened to you and you can enjoy the economic advantages and tourism industry.
This article explained who is eligible for Turkey citizenship by investment, requirements, and the application process.
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