Turkish Citizenship Investment Program

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Will I Need To Stay In Turkey For Turkish Citizenship By Investment?

Whatever your realty goals are, TurkeyHomeKey is here to help providing the highest level of personalized services to create a unique and satisfactory experience for all our clients. However, the government frequently reduces the rate for temporary periods to promote the market. Currently, the rate has been reduced to 3% until the end of October 2018. In principal, the seller and the buyer share the transfer tax burden equally. In practice, however, the buyer usually pays the entire tax amount. He has extensive experience in foreign investments and started to work as a lawyer in 2009.

turkish citizenship by investment

Marketed by agencies as one of the fastest, cheapest and most lax “golden passport” schemes anywhere in the world, the development support program grants unfettered, visa-free access to 130 countries including the UK and EU nations. Vanuatu also operates as a tax haven, with no income, corporate or wealth tax. The passport scheme allows foreign nationals to purchase citizenship for US$130,000 in a process that typically takes just over a month – all without ever setting foot in the country. The Greek Golden Visa Allows for all dependant family members to live, work and study in Greece, as well as visa free access to all Schengen countries.

Q4:  What Is The Mechanism Of Payment For A Property That Can Be Eligible For Turkish Citizenship?

In many areas of Istanbul, mass investment into infrastructure and housing are turning neighbourhoods into property hotspots. Alongside the potential capital growth, should you choose to rent your property out, you can legally do so. Any property in Turkey sold before five years of ownership incurs capital gains tax. Many districts show much potential for capital appreciation on properties over a mid to long term period of five to ten years. The only people who cannot apply is nationalities who cannot legally buy property in Turkey. They are North Koreans, Cubans, Syrians, Armenians, and Nigerians.

turkish citizenship by investment

For those who intend to keep their original citizenship , this second factor is the one to consider. When combining your two passports, you could unlock many more opportunities for business, work and travel. A passport from one of these countries includes visa-free law firm access to most of the developed world and key parts of the developing world, including most of southeast Asia . This type of visa grants residency to skilled immigrants – and especially those with skills in high-demand fields such as engineering or medicine.

Best Deal For The Citizenship By Investment In Turkey

A valid investor residence permit is required during your citizenship application process. Being a Turkish citizen by buying a property in Istanbul is a perfect investment. 20,000 real estate properties bought by foreign investors in 2019 make Istanbul one of the best real estate market performers in the world. According to the new amendments, the conditions for getting Turkish citizenship by investment have been facilitated.

turkish citizenship by investment

If the main applicant is divorced, his/ her former spouse is not eligible to be included in the family application for Turkish citizenship. Children of a divorced applicant are eligible for Turkish citizenship. However, the second parent’s consent needs to be obtained in this case. Applicants to the Turkish citizenship-by-investment program have a choice of six routes each of which will lead to the goal. The most inexpensive of them and, therefore, the most popular one is purchasing a piece of real property in Turkey that is worth at least US$ 250,000. The property has to remain in the investor’s possession for three years and after this period expires, the property can be resold while the Turkish citizen’s status will be retained.

The number of investors increased when the Turkish government lowered the program’s minimum investment to $250,000. From September 2018 to December 2020, 7,242 investors from 93 countries received Turkish citizenship. To work in Turkey, you must apply to the nearest Turkish embassy to obtain work permit and visa. Your passport, visa application form and a letter from your employer are the necessary documents for your application. Other documents should be submitted to the Turkish Ministry of Labour and Social Security by your employer within ten working days after your application.

turkish citizenship by investment

Many people like to talk about the US EB-5 program as if it were a citizenship by investment program as well, but it is aresidenceby investment program, not a citizenship program. Malta is the only citizenship by investment program currently available that takes more than a year to acquire. It’s also likely the fastest citizenship by investment program in the world today. Or, a $350,000 real estate investment (plus $58,000 in government, application, processing and due diligence fees) qualifies a single applicant for a second passport. A few citizenship by investment countries give you the option to buy government bonds, which locks your investment in an interest-free account for several years. But because you’re buying a real asset, you might be able to recoup at least some of the money if you decide to sell.

Vital Records including such as marriage certificate is another critical issue that is requested by the authority from all family members. You can apply for the programme only after completing the purchase stage. An account should be opened in a Turkish bank in the name of the investor. Those who own a property in Turkey of at least $250,000 value and commit to not selling it for 3 years can apply for the Turkish passport by a decision of the Council of Ministers.

turkish citizenship by investment

The company must keep the number of employees for at least 3 years. Under this option one can choose between making a deposit to a Turkish bank, buying government bonds, purchasing shares in an investment fund or making a fixed capital investment. Regardless of where you decide to place your money, this deposit must be held for a minimum of three years and have a value of at least USD$ 500,000. Applications for obtaining residency should be made before the tourist visa expires.

For the rest of options for Turkish citizenship by investment please click the link. Transfer of property to foreign origin real persons by inheritance is possible. However, if the transferred property is located in a zone where a real person may not acquire a property; the property is required to be sold or liquidated otherwise after the transfer. Furthermore, in the event of transfer of property by inheritance to a person who is from a country not include in the list of Article 35, the property in question must be sold or liquidated otherwise after the transfer. These companies may acquire property and limited rights in rem in order to engage in activities set forth in their articles of association. For this purpose, companies are required to apply first to the governor’s office where the property is located.

  • Following, on March 2019 new amendment released which allows Palestinian to apply for citizenship by investment by holding a valid travel document to Turkey.
  • We are the leading consulting company in Turkey on Turkish Citizenship, immigration, and related matters.
  • In one brochure advertising the country’s development support program by a registered agent, the agency answers a question about whether passport recipients can change their name.
  • Please contact us by email, telephone or live chat and request a personal consultation on acquiring Turkish citizenship.

Finally, in both St. Lucia and Malta, you can buy non-interest-bearing government bonds and hold them for a given period of time to qualify for citizenship. If you are interested, be sure to check out our article on how to buy real estate in Turkey, as well as our Turkish citizenship by investment guide. The two exceptions are the original citizenship by investment program in St. Kitts and Nevis, which has lasted more than 35 years, and Dominica’s program, which has been around for more than 25 years. If you want fast, easy, and secure, make sure you are investing in a real citizenship by investment program. However, there is now a new administration and any possibility of an Armenia citizenship by investment program is dead.

Why It Is Very Easy To Get Turkish Citizenship By Property Investment ?

Additionally, your future children will also be born as a citizen of Turkey. If you choose to get other passports, the programme lets you multiple passport option in addition to Turkish citizenship. Carry out the necessary investment transactions such as property title deed transfer, cash deposit, government bond/share purchase etc.

turkish citizenship by investment

You can examine the procedures and principles and the necessary documents for the 3-stage process to be followed in detail in the rest of the article. In any case, you cannot sell the property you purchased, within the next three years of your purchase. But after that frozen period, you have the freedom to act in your property as you wish. Turkey and the US have signed an agreement on issuing this type of visa.

turkish citizenship by investment

Turkish municipalities have local legislative bodies for decision-making on municipal issues. One of the world’s earliest permanently settled regions, present-day Turkey was home to important Neolithic sites like Göbekli Tepe, and was inhabited by ancient civilisations such as the Hattians, other Anatolian peoples and Mycenaean Greeks. Following the conquests of Alexander the Great which started the Hellenistic period, most of the ancient regions in modern Turkey were culturally Hellenised, which continued during the Byzantine era.

turkish citizenship by investment

After the citizenship application approval and the residency permit, candidates apply to The General Directorate of Civil Registration and Nationality for the Turkish citizenship. After that point, by tracking the transactions from Citizenship Information Offices? Applicants are not required to visit or live in Turkey in order to gain citizenship. The process is very quick (3-6 months) and individuals who decided to purchase real estate may rent the property and enjoy an additional income. In May 2017, the Turkish government introduced the Citizenship by Investment Program , under which applicants were required to invest 1 million dollars to obtain a Turkish passport. As one might suppose, not many people found this program attractive and the Turkish market did not experience the expected increase of foreign capital.

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