Turkish Citizenship by Investment

Smart Guide TO Acquiring Property & Citizenship IN Turkey

Turkey is a transcontinental country with a strategic location. Turkey’s position as a significant tourist destination allows connectivity with important markets via good transportation links.
The citizenship possibility has become even more appealing since the minimum investment amounts had been decreased in 2018, and the entire procedure may now be completed in 2 to 3 months.
Citizenship is also given to the applicant’s dependent family members, with no obligation for family members to make separate investments.

Holders of Turkish citizenship through investment will have the access to the following benefits:

• Permanent residence permit
• Permanent right to work and invest with no restrictions
• Many nations provide visa-free travel
• Straightforward visa procedures to a variety of nations

Following selecting the suitable investment choice, a residence permit application will be submitted on behalf of the family. After that, the principal applicant must create a bank account in Turkey. Then, the investment can be finalized and the paperwork submitted to the government once all application documents (including necessary certifications and translations) have been created.

After the government receives the application, the screening process will begin, and an interview may be required. Citizenship documents are usually issued six to nine months after the application has been accepted. After that, you may submit your passport application.

What are the Advantages of Having Turkish Citizenship?

The advantages of having Turkish Citizenship are listed below:
• There is no minimum residence requirement in Turkey.
• Medical aid is included in the price.
• There are pension plans accessible.
• Programs for free higher education and university reimbursement are available.
• A Turkish passport offers visa-free travel to more than 110 nations and 72 countries worldwide, including Japan, South Korea, Indonesia, Qatar, and other countries. Kuwait, Bahrain, and South Africa are approximately 42 nations that provide visas to Turkish citizens upon arrival in the target country. In addition, tickets may be applied for immediately over the internet (online) in nearly seven countries, including Australia and Oman.
• Future visa-free travel to the EU and Schengen nations.
• A sound investment that pays out in the form of rental income.

Every registration and financial transaction in Turkey requires a tax number. The ID numbers of all Turkish citizens are also their tax identification numbers. A ten-digit number known as a tax identification number is assigned to each individual.

Because their residency permits and other administrative processes may not be readily available when they arrive, students, visiting teachers, researchers, or family members will benefit from having a Tax ID number. Paying the price for a residency permit card, for example, necessitates the use of an official ID number.

It will enable you to establish a bank account, get health insurance, and numerous complete procedures in Turkey. In addition, you will have your foreign ID number and no longer need to utilize your Tax ID number after getting a residency permit. There are two methods for applying as listed below.

• Application on the internet: You need to have a Turkish phone number and a digital copy of your passport for the application.
• Application in person: You need to get a tax ID number to apply in person. Your travel documents, a copy of your passport’s ID page, and the form for obtaining a tax ID must be filled and signed in order to get a tax ID from the tax office.

After getting your residence permit card, you can establish a bank account. Obtaining a foreign ID number is required to create a bank account that offers financial services such as credit cards, internet shopping, ATM usage, etc. The number of your foreign ID is listed on the back of your residence permit card.
You can do so at a few institutions if you need to create a bank account right away before getting your residence permit. Banks that make accounts without a residency permission card may request deposits in this scenario. This rule may differ from one bank to the next.

As a result, we advise you to wait for your residency permission before opening a bank account. You can establish a bank account at any bank in your neighborhood if you present the following documents.
• Copy of your residence permit
• Your travel documents
• A housing-related document (it can be your rental contract, a utility bill in your name, or a copy from the Housing Department)
• A Student ID Card or a Certificate of Enrollment (Extra, not a must but will expedite the process)
Please obtain a queue number from the ticket dispenser that offers an English option when visiting the bank.

A minimum of US$400,000 or the equivalent in another foreign currency and Turkish Lira is required for land registration, as long as an explanation that the property would not be sold for three years is included.

After the foreigner has paid at least US$400,000 or the equivalent in another foreign currency and Turkish Lira in cash for a condominium or condominium servitude, the contract shall state that the property in Turkey cannot be transferred or abandoned for a (three) year term. The Ministry of Environment and Urbanization must decide on the registry’s explanation.

In the three and a half years following the government’s regulation of granting citizenship to those who buy real estate worth 250 thousand dollars or more, foreigners bought a total of 128 thousand 234 houses in Turkey. The top four are citizens of Iraq, Iran, Russia, and Afghanistan.

Buying property in Turkey is a big investment. Still, you need to evaluate each location to see what drives sales and how much future potential there is to maximize your financial portfolio. 

Here are the procedures to become a Turkish property owner.

  1. Communicate with a reputable real estate firm and ensure that you fully comprehend the new selections. You can contact Bodrum White.
  2. Discuss the specifics of the property that best suits your requirements and budget.
  3. Inquire about the qualities you’re searching for in a home in Turkey.
  4. Take a field trip to see the project in action.
  5. Follow up with your real estate business on legal concerns.

Finding the right property is significant, you can search for our property options in Turkey.

Exporters and importers are issued a certificate of conformity to prove that their acquired services match the country’s requirements. Usually, this document is required to be submitted at the time of customs clearance.

The primary purpose of requesting these certifications is to meet a legal need for obtaining authorization to engage in an activity or complete a commercial transaction. They’re also used in the real estate and public utility industries.

You must apply to the Directorate of Land Registry, linked to the Ministry of Environment and Urban Development, for citizenship by purchasing the real estate. You will need to obtain the following documents.

  1. Bank receipts proving that the selling price of the real estate has been transferred to the seller are needed documents for a real estate certificate of conformance.
  2. Report on real estate value.
  3. Undertaking note stating that it will not be put up for sale for three years must be written on the title deed.

A Turkish residence permit allows you to stay in Turkey for more than three months in a half years for reasons such as settlement, job, or education. A residency permit will enable you to live, study, marry, convert to a Turkish driver’s license, obtain a tax number, establish a bank account, buy property, invest, and much more in Turkey. If you’re moving to Turkey for work, all you need is a work permit that also works as a residency permit.

You can apply for one of the following residence permits depending on your visa type, the purpose of your application, and the length of time you want to spend in Turkey.

  • Short-term residence permit: Among all residency permits, the Turkish short-term resident license is the most sought after. This residency permit can be used for many purposes, such as engaging in a service training program for educational or similar objectives as part of student exchange programs, getting medical treatment provided you do not have one of the diseases deemed a hazard to public health, attending Turkish language courses.
  • Family residence permit: Families of Turkish nationals can apply for a family residence permit. The sponsor must be able to support the applicant.
  • Student residence permit: If you want to enroll in elementary or secondary school in Turkey, you can apply for a student residency permit. You won’t need this if you already have a family dwelling permit.
  • Long-term residence permit: You can apply for a long-term Turkish permit with unlimited validity if you have lived in Turkey for at least eight years continuously on a residence permit issued by the Turkish authorities.
  • Humanitarian residence permit: Assume you are in Turkey without a valid visa or residency card but have not been deported. In that case, you are awaiting deportation, or you are unable to return to your home country due to an emergency, you can apply for this residence permit.
  • Residence permit for victims of human trafficking: You can apply for this residency visa if you are a victim of human trafficking in Turkey.

To apply for a Turkish residence permit, you must go through several steps. Don’t forget to apply for a residence permit within one month of your arrival in Turkey.

Decide on the type of residency permit you want and fill out the online application at https://e-ikamet.goc.gov.tr/.You must include your full name and surname, birth date, parents’ names, nationality, and contact information.

Then go to the “Central Appointment System” website and schedule an appointment with the Directorate General of Migration Management’s closest office. You will be required to fill out a form with your personal information and your address in Turkey.

Then you’ll be given the address of the nearest DGMM office, as well as a list of the needed papers, appointment dates and hours, and the application and card price that you must pay.

Documents required for Turkish Residency can be found below.

  1. Residence permit application form
  2. Four biometric photographs
  3. Original passport
  4. Notarized passport or travel document copy
  5. Proof of adequate and sustained financial resources. Each month you spend in Turkey, you must have at least US$564 in your bank account.
  6. Evidence of health insurance

You may be required to provide additional documents depending on your condition, the kind of residence permit you are asking for, and your nationality. Make sure that you submit them all on time.

In 2016, it was stated that Turkey would provide citizenship to anybody who invests in the country. The Turkish government initiated a scheme in late January 2017 to encourage foreign direct investment and strengthen the country’s real estate market. 

Investors can choose from a variety of ways to contribute to Turkish society under this scheme.

  1. The primary candidate must be at least 18 years old to be eligible for Turkey citizenship by investment program.
  2. It’s unlikely that you’ve ever remained in Turkey illegally.

In addition, the individual must have the following pattern to be considered for the program.

  1. All candidates’ birth certificates are required
  2. Each applicant’s passport
  3. Proof of residency (recent utility statement)
  4. Each applicant’s biometric and colored passport photographs
  5. Certificate of marriage (optional)
  6. spouse’s death certificate or divorce certificate (optional)
  7. Proof of each applicant’s lack of a criminal record
  8. Proof of medical coverage (valid in Turkey)
  9. Proof of a US$250,000 investment in a Turkish bank account or a lawyer’s client account
  10. Turkish tax identification number (required)

Documents needed for Turkish Citizenship

All the documents needed for Turkish Citizenship are listed below:

The legal definition of marital status is the state of being married. Single, married, widowed, divorced, separated, and, in certain circumstances, registered partnership are all examples of marital status.

Quantitative research questionnaires like census forms and market research tools ask for civil status. For example, C’s civil status is quantitative and qualitatively relevant to a person’s medical history. In addition, a government uses a civil registration system to keep track of its people’s civil status. In the past, questions about marital status have appeared on job applications, loan applications, and credit applications.

A birth certificate serves as legal documentation of one’s birth. The term “birth certificate” can refer to either the original document attesting to the circumstances surrounding the delivery of a certified copy or to the subsequent registration of the birth.

A birth certificate or other official document stating the date and place of birth, such as a copy of the civil register translated and verified by the Turkish Consulate or a notary, is one of the papers required for Turkish citizenship.

A biometric picture must meet the following requirements.

  • It should be no older than a month.
  • It must be printed in full color.
  • It must be printed on plain white picture paper with no borders, including four biometric photographs.

When the billing party requests a bank wire for a specific amount of money, they send a wire transfer. The invoice will include the amount owed for the items or services provided and request payment through wire transfer.

The transfer notification should be for a sum of at least US$250,000. It should be made straight from the personal buyer account to the seller’s account, without delegates or intermediaries.

Suppose the bank account holder’s name is not the same as the property owner’s name. In that case, you must seek a document clarifying the relationship between the two words (if a landowner is different from the construction company through which the sale is made).

A description of the reason for the transfer should be included in the notice (purchase of the real estate). The issuing authority should certify the transfer notification (the bank).

The proof of residence letter is an affidavit produced and signed by another person that certifies that a particular individual is a state resident or has a postal address in the state. This is frequent when people apply for government jobs, insurance programs, or jobs that need them to show that they reside where they say they do.

The following documents are required to prove residency.

  • Form for obtaining a residence permit.
  • Four biometric photos
  • Authentic passport.
  • A copy of the passport or travel document that has been notarized.
  • Evidence of adequate and long-term financial resources for the duration of the stay.
  • Evidence of medical coverage

The following information must be included in the application form.

  • Form for a preliminary examination (a standard form VAT-4)
  • Turkish translation of the applicant’s passport identity registration copy
  • The applicant’s birth certificate
  • Valid residence permit received through the process is documented by marital status.
  • Receipt slip for payment of applicable service fees

You may purchase any home for US$250,000

  • A deposit of at least US$500,000 in bank
  • Purchase of government securities starting at US$500,000
  • Purchase of government bonds in the amount of US$500,000 with a three-year asset preservation requirement.
  • Create at least 50 employment or start a firm with a capital of US$500,000

Other ways to receive Turkish Citizenship by Investing?

The other ways to receive Turkish citizenship by investment are listed below.

  1. Purchase real estate worth US$400,000, you can buy any property.
  2. A deposit in a bank of US$500,000 or more
  3. Purchase of national securities from US$400,000
  4. Purchase government bonds in the amount of US$500,000 with an obligation to preserve assets for three years.
  5. Open a business with a capital of US$500,000 or create at least 50 jobs.

What are the Advantages of Investing in Turkey?

Foreign direct investors may benefit from the same possibilities as domestic investors. Direct investment is made through establishing branches, businesses or partnering with existing enterprises.

However, there is no incentive to purchase stock or bonds. As a result, only long-term direct investors may utilize the state’s services. The advantages of investing in Turkey are listed below.

  • An improved and thriving economy: Turkey’s GDP, the country’s most important metric, increased from 231 billion to 820 billion dollars over this time.
  • The Increase Rate of Youth Population: When it comes to investing in a place that requires skilled youngsters and trained workers, Turkey’s youthful population surpasses other European nations. Moreover, Turkey is Europe’s most populated country, this ensures that any investor launching a business in Turkey would not face labor shortages.
  • The number of people employed increased by 822 thousand people in January 2021 compared to the previous month and became 27 million 706 thousand people, while the employment rate increased by 1.2 points to 43.8%.
  • The flexibility of the investment atmosphere in Turkey: The Investment atmosphere in Turkey is in a way that is encouraging for the investor. This provides positive flexibility for the investor. This flexibility is guaranteed by legal regulations. Many nations have hurdles to detecting foreign investments, but Turkey, a member of the Organization for Economic Co-operation and Development (OECD), started erecting such barriers in 1997. Turkey has recently reached a point where a business is established every six days, and the government treats all investors equally, fostering a competitive atmosphere.
  • The infrastructure: One of the most important motivations for foreign investors to invest is to offer the required infrastructure for investment and lower transportation costs. As a consequence, Turkey’s basic infrastructure has boomed, attracting foreign investment.
  • The perfect geographical location: Turkey as a natural link between Asia and Europe has an important place between the two continents. In addition, Turkey has welcomed numerous business connections between the East and the West due to its geographic location. This geographical location of Turkey provides advantages. Among its advantages are that it is surrounded by sea on three sides, it is located on the transition route between continents, and it has a diversity of climate and vegetation.
  • Largest power plant and terminal in Europe: Turkey is a prominent actor in the Asia-European energy trade. It aids in the transmission of energy from east to west and the movement of cash from west to east.
  • Low costs of taxation in Turkey: The institutional profit tax on foreign investors has been cut from 33% to 20% to encourage them to invest in Turkey. Foreigners may be exempted from this tax in several cases. Investors can also engage in state efforts like land distribution and incentive schemes.
  • Membership in the European Customs Union: Economic possibilities and activity are intended to be expanded by the European Customs Union. Turkey has been a member of this customs union since 1996, and the members of the association have signed 20 free trade agreements. Through the signing of new contracts, these commercial connections are growing every day.
  • According to the results of the household information technologies usage survey, it was observed that 92.0% of households had access to the Internet from home in 2021. This rate was 90.7% last year. The rate of internet usage was 82.6% for individuals in the 16-74 age group in 2021. This rate was 79.0% the previous year. When the internet usage rate is analyzed by gender; this rate was 87.7% for men and 77.5% for women.

How long does it take to obtain Turkish Citizenship by investment?

Citizenship in Turkey is awarded after 3-6 months of investment by the applicant. The candidate must make a three-year commitment to the investment.

The fastest way to get Turkish citizenship is to invest in the country. For example, after investing US$400,000 in real estate, you may apply for a Turkish passport and receive it in less than two months.

Do I Need to Learn Turkish to Get a Turkish Passport?

You do not need to study Turkish to obtain a Turkish passport; instead, you may get a Turkish passport by capital transfer, with a minimum capital commitment of US$500,000. For example, the transfer might be made as a deposit in a Turkish bank, a government bond contribution, or a fund share investment.

How many countries can I travel to with a Turkish passport?

According to the Henley Passport Index, Turkish citizens had visa-free or visa-on-arrival access to 110 countries and territories as of January 5, 2021. However, many nations need a visa but give it to Turkish residents on lenient terms.

In the context of the negotiations and international agreements between Turkey and the EU, it is expected that if Turkey joins the EU, Turkish citizens will have significant advantages in obtaining a Schengen visa to enter European countries, which could lead to future negotiations to grant Turkish passport holders visa-free access to European countries.

How to Get Turkish Citizenship for Spouse and Children?

Your spouse (husband or wife) and dependents (children under the age of 18 at the time of application) are eligible for citizenship. Same-gender marriages, polygamy, and other forms of relationships are illegal in Turkey. As a result, a spouse must be of the opposite sex, and the pair must be lawfully married. In addition, only one of a man’s wives is eligible for Turkish citizenship if he has more than one.

How long is Turkish citizenship?

By purchasing real estate of US$400,000 dollars or more, the right to apply for Turkish citizenship is provided within 2 months at the latest. Depending on the intensity, this period may be even shorter. Apart from this, provided that the necessary basic criteria are met, the right to apply for citizenship is gained on the condition of staying in Turkey for 5 years. Persons who are married to a Turkish citizen are entitled to apply on the condition of staying in Turkey for 3 years. Turkish passport is issued after five years.

Does Turkey give permanent residency?

Yes, the criteria for permanent residency in Turkey must be considered before applying according to the following regulations.

  • The permanent residency permit is issued on Turkish territory with the Ministry of Interior’s approval to a foreign resident who has lived in Turkey for eight years without interruption.
  • According to Article 38 of the law, eight years are tallied without interruption. Therefore, half of the student residence permit’s length is calculated, and the remaining permit durations are considered in full.
  • Has not received any form of social aid in the last three years.
  • The resident must be able to make enough money to support himself and his family regularly.
  • A legitimate health insurance policy is required for the residence.
  • Public order and security should not be jeopardized.

Is it mandatory to live in Turkey to obtain Citizenship?

There are two different answers to this question.

If you apply for Turkish citizenship by investment program, it is not mandatory to live in Turkey. You can obtain Turkish citizenship without living in Turkey.

If you are not doing an investment, you should stay in Turkey for a certain period of time to obtain citizenship. As soon as you have your residence permit, you can continue to live in Turkey and seek citizenship.

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