More than ever before, investors are pursuing citizenship options as the most effective way to access previously unimagined opportunities. Over 100 countries globally have some form of investment migration legislation in place. One of the most popular models for wealthy individuals to gain citizenship is the citizenship by investment program.

Turkish citizenship by investment program provide investors and their families with the privilege of acquiring alternative citizenship. This model gives them the right to travel freely to various destinations and settle in another country.

Turkey is one of the countries that offer citizenship by investment program. It grants residency, citizenship, and a Turkish passport to applicants investing in real estate or a bank deposit. A Turkish passport allows visa-free travel or visa on arrival to 125 countries worldwide.

What are the perks of applying to Turkish citizenship by investment program? Who is eligible for the program?

Turkey: Country Profile

Turkey is a transcontinental country located mainly in Western Asia. Turkey’s capital is Ankara, and Istanbul is its largest city and financial center.

Turkey is a G20 country, with twice the GDP of Portugal and Greece combined. It is a resort country with a mild Mediterranean climate, stunning nature, rich cuisine, and hospitable people. The country has splendid scenery, and Turkish people live a vibrant and rich lifestyle compared to many other countries’ residents.

But Turkey’s benefits are not only in the weather and culture. It is a country of significant geostrategic importance since it lies on the cross borders of Europe and Asia.

The Turkey Citizenship by Investment Program provides citizenship to a country with links to both Asia and Europe and access to the markets in both regions. Investors become Turkish citizens to get the prospects of profitable investments, business development, and the purchase of liquid real estate. Turkish citizenship entitles you to reside in the country permanently.

All these positives make acquiring Turkish citizenship attractive. With the updated citizenship program, acquiring a Turkish has become easier. The business opportunities in Turkey are also great and investing in the country is profitable.

Turkey citizenship by investment gives investors access to a wider market

The most significant reason foreigners invest in Turkey is that it gives them access to European and Asian markets.

If the Far East is your target, applying for Turkish citizenship can be beneficial. Turkish citizens travel without visas to the region’s financial powerhouses. These include South Korea, Japan, Thailand, and Singapore.

If it’s the USA, Turkey is a treaty country for both the E-1 and E2 visa programs. You can enjoy visa-free access to 95% of countries in Central and South America.

Turkish nationals enjoy a privileged status for entry into the EU, making it very easy for them to obtain Schengen visas. There is also an agreement with Greece that allows Turkish citizens to visit for short holidays without obtaining a Schengen visa.

Turkey Citizenship by Investment Options

Investors can obtain citizenship within 3 – 6 months. Turkish citizenship by investment is in demand among foreigners. The minimum investment required for Turkish citizenship is $400,000. To obtain a Turkish passport, applicants must buy real estate valued at $400,000 or more and meet other requirements.

Other various investment options include a business set-up and a cash deposit. Half of all applicants receive a passport using the Turkish citizenship minimum investment option.

The applicants can choose from any of the six investment options.

Investments in Turkish citizenship are returnable. Investors can sell the purchased papers or real estate or close the deposit three years after obtaining citizenship.

The best cost-effective option for investors to qualify for the Turkish citizenship three is to purchase property in the country worth a minimum of $400,000. It is by far the most popular investment model for the Turkish program. The program has very reasonable prices and good rental yields. Investors can lease their property to provide rental income.

Note: In March 2021, the Turkish government revised restrictions on real estate deals between foreign nationals. It is only possible to participate once in the citizenship course.

If an investor purchases a home and subsequently sells it to a foreign national, they will not be able to obtain Turkish citizenship by investment in real estate. It's no longer possible to sell the property to its previous owner, whether a Turkish firm or an individual.

Benefits of the Turkey Investment Visa

The quickest method to become a Turkish citizen is through investment in the country. Once you invest $400,000 in real estate, you'll be able to acquire your Turkish passport within two months of submitting an application.

There are several modern apartments and luxury seaside houses available at reasonable costs. Investors can purchase property as an alternative residence or a solid investment with high ROI potential. You can benefit from rental income and resell after three years as an investor.

Why Apply for the Turkish Citizenship by Investment Updated Program?

The Turkish Citizenship by Investment updated program features a straightforward application process. Investors don't need to declare their assets or the income they generate in other countries. Neither are they required to be physically present in the country.

Fast citizenship application processing within 60 days

Through the program, an applicant for citizenship receives their passport within less than two months of applying.

Immediate permanent residence and citizenship

Immediately after applying for a Turkish Investment Visa, you receive a permanent residence card. This will allow you to live in Turkey and start your investment.

Property investment with no donation

There is an option to invest in one or multiple properties for a minimum total value of $400,000.

The potential return on investment

Investors can earn rental income and have an option to resell their property in three years. Once you receive your Turkish citizenship, you must hold the property for at least three years. You can resell the property or hold it for five years to avoid capital gains tax.

Rental returns

You can rent your property while you hold it and benefit from annual yields of up to 8%.

Family dependents also qualify

Includes spouses, children under 18 years, disabled children of any age, and parents if they are dependents.

Social guarantees

Turkish nationals are entitled to free medical treatment and education at Turkish universities. There are no limits to real estate or asset inheritance.

No language or residency requirements

The whole process can be obtained remotely. You also qualify to apply even if you are not acquainted with the local Turkish language.

Easy Schengen Visa

As long as you have the required documentation, obtaining a Schengen visa for Turks is simple. They have a privileged visa-free or visa on arrival to the Schengen zone, UK, US, and Canada.

Visa-free travel worldwide

Turkish passport holders have privileged access to more than 110 countries. These include Singapore, Hong Kong, Japan, Mexico, South Korea, and Latin American countries. These countries have bilateral agreements with Turkey to allow visa-free travel.

The idea of becoming a citizen of the European Union: Turkey also holds out the possibility of eventual visa-free access to the EU. Turkey claims to be a member of the European Union and is engaged in talks toward visa-free access to the Schengen area.

Secure environment

Turkey is a host to over 700,000 ex-pats and 60,000 international companies due to relative peace in the country.

Dual citizenship

Turkey allows for dual citizenship as well as multiple citizenships. No nationality has been officially restricted from obtaining Turkish citizenship through investment.

Valid for life

Turkish citizenship is valid for life and transferable to descendants. You only have to renew the passport after every ten years.

High standard of living

The country offers a comfortable yet affordable, high-quality lifestyle. This attracts numerous applicants to the Turkish Citizenship by Investment applicants each year.

Legal Restrictions

Turkey allows dual citizenship. Investors who want to acquire Turkish citizenship by investment do not have to renounce their previous nationality and obtain Turkish citizenship. This provides a significant benefit to individuals who wish to stay and work in their own country.

On the other hand, dual citizenship is only possible if both countries' nationality laws allow it. Make certain that your country of citizenship does not limit you from obtaining Turkish citizenship before applying for Turkish nationality.

If your present country does not allow dual citizenship, you must renounce it before receiving a Turkish passport.

Residency Requirements

Investors who want to obtain Turkish citizenship don't need to fulfill any residency conditions. You can obtain a Turkish passport within six months of investing without ever residing in Turkey. Investors don't have to live in Turkey for any specified length of time before or after obtaining a residence permit. The whole process can be done remotely.

You can also employ representatives to handle everything from your investment to your visa application and citizenship procedure. Investors can apply remotely and later go to Turkey to check out the properties or whatever investment mode they have chosen.

Who Can Apply for a Turkey Investment Visa?

To be eligible for the Turkey Citizenship by Investment program, an investor should meet the following general requirements:

• Be at least 18 years old
• Must not have entered or stayed illegally in Turkey
• Not selling the property for at least three years
• Pay the costs and taxes for the citizenship process
• Must have completed due diligence on your investment
• Must have legally obtained the investment funds
• No criminal record in Turkey or any country the applicant has resided in over the past year

Where to Obtain Certificate of Eligibility for Turkey Investor Visa

To obtain a Certificate of Eligibility for investment in Turkey, you must apply to the following institutions (based on the nature of your investment):

• For investment in real estate: Turkish Land Registry and Cadaster of the Ministry of Environment and Urbanization.
• For a capital investment: Incentive Application and Foreign Capital of the Turkish Ministry of Industry and Technology.
• For a Turkish bank account deposit: Department of Financial Consumer Relations of the Banking Regulation and Supervision Agency.
• For an investment in government bonds: Turkish Ministry of Treasury and Finance.
• For purchasing real estate investment fund share or venture capital investment fund share: Department of the Brokerage Activities of the Capital Markets Board of Turkey.
• For establishing a company that will employ at least 50 people: General Directorate of International Labor of the Ministry of Family, Labor and Social Services.

How to Apply for a Turkey Investment Visa

Once you have chosen how you want to invest in Turkey, you will be required to fill out a residency permit application. The process, on average, takes three to four months. But the best thing is that you can do it remotely.

Applying for a Turkey investment Visa involves doing a lot of paperwork which can be painstaking. From notary certificates to official translation, the process can consume a lot of your time. It will help if you hire an advisor to help you navigate the Turkish citizenship acquisition procedure.

A certified professional will guide you throughout the procedure and escalate the process. They will ensure that your application is submitted correctly and followed up for approval.

The process is hugely similar whether you go for the real estate, job creation, or capital investment option.

How to Apply for Turkish Citizenship by Investment Program

Here are the steps involved in the real estate option.

1.    Talk to immigration advisors

An immigration advisor will evaluate your circumstances and help you select the most suitable investment option. The main applicant may also add dependents to their residency application. They can include their spouse, children under 18 years old, and disabled children of any age.

2.    Prepare the necessary documents

Besides the standard documents, like a copy of a passport, a questionnaire, confirmation of payment of state fees and photos, you will need:

• A notarized authorization allowing local officials to handle the applicant's data
• a police clearance certificate
• documents confirming the implementation of investments

All non-Turkish documents must be translated and notarized in Turkey. You will be assisted step-by-step through the document collection stage, and a comprehensive checklist will be provided. Professional immigration advisers will check all documents for compliance to ensure you meet all the requirements.

3.    Meet the requirements of the program

This step entails buying real estate, starting a business, buying securities, or opening a deposit. To do this, you'll need to open a bank account and obtain a tax identification number.

4.    Obtain new Turkish Tax ID Numbers

The Turkish legal system will not allow you to proceed any further if you do not have a tax ID. Open a bank account in the country once you have the tax number.

5.    Get a certificate of eligibility

You'll need to acquire a certificate of eligibility for investment in real estate. The certificate will be issued only after you qualify for Turkey citizenship by investment program. The applicant must submit the application to the General Directorate of Land Registry and Cadaster of the Ministry of Environment and Urbanization.

6.    Apply for a short-term residency permit

A person must be a lawful resident to begin the application process. Applicants must hold a valid residence permit at the time of their citizenship application and may continue to live abroad if they wish.

Getting a residence permit indicates that you want to obtain investment citizenship. Therefore get it as soon as you've made your investment for a Turkish passport. The permit will be issued on the day of application.

7.    Complete the investment

Before proceeding with the citizenship application, applicants must open a bank account in Turkey. You will need to deposit your money and complete the investment. Your advisors and legal representatives can help you set up the account, real estate title deed transfers, cash deposit, government bond etc.

8.    Submit citizenship application

If the investor obtains a residence permit, they may apply for citizenship right away. No physical presence or interview is required during the application process. Add a copy of the residence permit to your package of collected documents and provide biometric information.

Finally, check all the documents and application forms before submitting them to the Turkish registry office or at the embassy abroad. The application is considered within three months. Your advisor will help you escalate the process.

9.    Pick Your Turkish passport

You and your family members will obtain your Turkish passports within 120 days of submitting the citizenship application. You will have to visit Turkey to get your passport. If this is not an option, the documents can be obtained through a lawyer.

You can now become a Turkish citizen and gain access to the benefits of Turkish Citizenship. The passport has a validity of ten years; therefore, you don't need to renew it after every three, or four years.

Family Members of Turkey Investor Visa Applicants

Turkish citizenship is granted to the investor's spouse and children less than 18 years old. The applicant is also free to bring dependable parents along with them. Spouses' parents and adult children can obtain Turkish residence permissions. The payment for a residence permit is $5,000 per person.

If the adult children and parents of the investor have their sources of income, they cannot be included in the application. To obtain citizenship, they participate in the program as individual main applicants and fulfill the investment conditions.

The Turkish visa allows you and your family to reside, work, and study in Turkey. You can generate income from your real estate property or perhaps by renting it out. If you plan to move with your family, you can relieve your children's education stress.

Because the visa is granted to the whole family, you and your children may benefit from the Turkish education system and a high-quality lifestyle. Besides, all the family members can access free healthcare facilities like the local Turkish people.

Documents Required for Turkey Investor Visa Application

The principal applicant requires the following documents to be eligible for the program:

• Birth certificates for children
• Valid passports of all the applicants
• Proof of residence (recent utility statement)
• Residence permit or valid tourist visa on your passport
• Four biometric, colored passport photos of each member of your family
• Marriage certificate (if applicable)
• Divorce certificate of spouse (optional)
• Death certificate (if applicable)
• Proof that all the applicants have no criminal record (police report from country of residency)
• Proof of Health Insurance (valid in Turkey)
• Proof of transfer of $400,000 into a Turkish bank account or lawyer's client account
• Proof of completion of the investment
• Turkish Tax ID Number (necessary)
• Proof that taxes and fees have been paid for the Turkey Investment Visa application
• Turkish ID copy and addresses of applicant relatives in Turkey (if applicable)
• Each applicant's exact requirements will differ depending on the investment type, background, and nationality.

FAQ

How much does it cost to obtain Turkey citizenship?

There is more than one option to obtain Turkish citizenship through investment:

• 400,000 USD in immovable property (the most cost-effective option),
• 500,000 USD in capital investment,
• creating jobs for 50 people within Turkey.

Which family members can come with me when issued Turkish citizenship?

You can add your spouse and children below 18 to your Turkey citizenship application

When do I have to travel to Turkey?

You only have to be legally present in Turkey when applying for a residence permit. All the other matters can be handled by Smart Citizenship on your behalf.

Can the residence permit be considered a work permit?

Yes, when you get the residence permit (which is a permanent residency) you and your spouse are free to pursue work in Turkey.

How long is the wait/processing time for the Turkey citizenship by investment program?

The process is quick and quite simple. It only takes 3-6 months from start to finish.

Are there any restrictions applied to qualifying real estate?

Yes, you must hold on to that real estate for 3 years. You cannot sell it before that time period ends.

Can I split the Turkey investment amount between a combination of properties?

Yes, you can create a real estate portfolio that matches your budget and needs. As long as the aggregate investment amount reaches the 400,000 USD threshold it is possible.