Three seas separate the beautiful country of Turkey from the European continent. Turkey occupies a central position and possesses strategic assets. With its excellent transportation links, Turkey is an appealing tourist destination. This fascinating country is known for its architecture, rich history, luxury vacation spots, cruise routes, amazing hotels, hot air balloon rides, incredible food, and vibrant arts and culture. This list goes on and on. Although Ankara is Turkey’s capital, Istanbul is the largest city and a significant center of commerce and culture. As a transcontinental Eurasian nation, Turkey connects to Europe and Asia via the Bosphorus Strait, making the country of great geostrategic importance. Turkey’s central location, cultural proximity to Arab cultures, and unique experience are vital factors that drive tourists and investors.
Citizenship-by-Investment in Turkey gives investors unparalleled access to the European and Asian markets and lifelong citizenship in a country undergoing complete membership negotiations with the European Union. In January 2017, Turkey launched its Citizenship-by-Investment program to strengthen foreign direct investment and boost its real estate market. Different types of economic contributions can be made to Turkish society through the investment program, thereby helping to develop the economy. However, many families seek Turkish Citizenship through Investment to benefit from the many advantages it offers. Citizens of Turkey are eligible for free education, full medical coverage, and visa-free travel.
Furthermore, Turkish real estate investments offer investors a reliable source of rental income. The investors will receive a Turkish passport within three to four months through the Turkey Citizenship by Investment program. The Turkish Passport will allow you to travel visa-free to over 110 countries. An investor/applicant can obtain a Turkish Passport by making the necessary investment, but it does not require residency or travel requirements. Passports and Citizenship in Turkey are for life. It is also possible to pass them on by descent to future generations so that all family members can benefit from them.
Advantages of the Turkey Citizenship-by-Investment Program
· Hong Kong, Japan, and Singapore are among the 111 destinations that offer visa-free or visa-on-arrival access for Turkish citizens.
· The country has a Mediterranean climate, scenic landscape, and a high standard of living.
· An applicant and his family members are eligible for full citizenship.
· A Turkish citizen can also obtain a five-year renewable E-2 investor visa in the USA.
· Access to a country that is a stable economic, political, and financial hub between Western Asia and Europe
· Turkish citizenship holder can renew their E2 Visa for non-immigrants for another two years, following its initial validity of five years.
· Turkey offers its citizens free medical treatment as well as free university education. Additionally, the citizens and their family members can inherit the real estate and assets without any restriction.
· It is possible to move the entire family to the UK on a Turkish business visa (Turkish Businessperson Visa) within one or two months when you are a Turkish citizen. There is no need for any investments. Simply opening a business or transferring capital is enough. Once you get the Turkish Businessperson Visa, you can apply for British Citizenship and permanent residency in the UK.
Who can obtain Turkish citizenship through investment?
To be eligible to become a citizen, the primary applicant must choose between the below different options:
- The applicant/ investor should invest a minimum amount of USD 250,000 in a property.
- The minimum fixed capital contribution is USD 500,000.
- Place at least USD 500,000 into an account in Turkish Lira or equivalent foreign currency.
- Make a minimum investment of USD 500,000 in government bonds or the equivalent in foreign currency or Turkish Lira.
- Real estate investment funds or venture capital investment funds should be a minimum of USD 500,000 or equivalent in foreign currency or Turkish Lira.
· The investor must create at least 50 jobs, as certified by the Ministry of Family, Labour, and Social Services.
· An investor who has not been convicted or violated Turkish immigration laws can become a Turkish citizen by investing in Turkey.
· The program is not open to Armenia, Cuba, North Korea, or Syria citizens.
· An investor’s spouse and children under 18 years of age are eligible for Turkish citizenship. If the spouses of the investor’s children are financially dependent on the investor, the spouses could also qualify for citizenship. Children or parents require no additional investment.
· The investor’s adult children and parents may have sources of income other than investment income. It is not possible to include them in the application. To obtain citizenship, individuals must participate in the program as primary applicants and meet investment requirements.
The step-by-step process involved in obtaining Turkish citizenship by investment
· Program requirements include: Finding and purchasing real estate, starting a business, purchasing securities, or opening a bank account. Also, you will need a taxpayer number to complete the process.
· You will need the following documents in addition to the standard documents, e.g., a questionnaire, a copy of your Passport, payment confirmation of state fees, and photos
· In some cases, the applicant must also present a police clearance certificate.
· The applicant must present a notarized permit allowing local officials to process the applicant’s data. The government can access personal financial information such as bank accounts, assets, and real estate with this document.
· The investor must also provide documents verifying that investments have been made, such as cadastral clearance, market assessment, investment fund extracts, or constituent documentation.
· The applicant must translate all the foreign documents into Turkish, notarized, and apostilled
· The investor should obtain a short-term residency permit to obtain the final goal of Turkish citizenship.
· When an applicant submits citizenship applications to the Turkish registry office or the Turkish embassy abroad, besides the original documents, they must also attach a copy of the residency permit and biometric information. Applications are reviewed within three months, during which the Turkish Ministry of Internal Affairs will study the documents. Once approved, the president will sign the citizenship decision.
· The final step is receiving the Passport. Upon arriving in Turkey, the applicant receives a Turkish passport. It is also possible for a lawyer to obtain the documents if the applicants cannot be present.
Turkey offers citizenship by investment to those wanting to live permanently in the country, obtain an E2 American visa, or have a backup in case of an emergency at home. Not just that, buying real estate is also more affordable when you are a citizen. Turkey is a good choice for investors who wish to visit the US, Canada, Europe, Great Britain, China, optimize taxes, or develop business in Europe. To qualify for citizenship, most people purchase a property. As opposed to some other programs, foreigners do not need special permits to buy property. Turkish real estate offers a range of properties for every taste – from affordable apartments to modern residential complexes with their own infrastructure to penthouses, mansions, seaside villas, and commercial premises. A majority of investors acquire properties in Istanbul, Antalya, and Ankara.
To know more about citizenship by investment programs, visit the Passport Legacy website. They provide a range of professional services to clients, including acquiring alternative residences or citizenship and real estate. As a boutique firm, Passport Legacy offers tailored solutions to meet the specific needs of their clients, with attractive professional fee structures – ensuring clients receive a superior experience at an economical rate. The company offers the highest level of customer service, providing a smooth and efficient process to obtaining citizenship or alternative residency.