5 Different Ways To Get Turkish Citizenship By Investment In 2021



Turkey Citizenship By Investment Program 2021

Turkey Citizenship By Investment Program

According to the Turkish constitution, the word Turk, as a political term, includes all citizens of the Republic of Turkey without distinction of or reference to race or religion. Certainly, in 1928 Islam was removed as the official state religion and since then, the military has maintained a vigilant watch over Turkey’s political secularism. Applicants can invest US$500,000 in fixed capital, acknowledged by the Ministry of Industry and Technology. Applicants can purchase government bonds valued at US$500,000 and recognised by the Ministry of Treasury and Finance. Applicants can purchase property valued at US$250,000 and recognised by the Ministry of Environment and Urbanisation. Successful applicants most hold that property for a minimum of three years.

Especially if housing prices keep steadily rising in your home country. Additionally, across border investments always help diversify your economical risk. A minimum amount of property investment needs to be made to the value of USD 250k, with the condition that the investor does not sell the investment property within the three years from the start of the investment. The required bank documents which prove the money transfer from the buyer to the seller should be provided when you’re applying for Turkish citizenship.

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The Turkish authorities review the investor’s application for citizenship for a period from three months to a year. The head registry office forwards the application to the Ministry of the Interior. We stand by our customers with our all-inclusive service in the real estate sector. After you made your real estate investment, let us take care of your property.

turkish citizenship by investment

At this point, persons with foreign nationality can buy any kind of property within the legal restrictions. Persons with foreign nationality who buy property without construction also have to submit the project that they will construct on the property to the relevant Ministry within 2 years. The transaction had a ticket size of approximately EUR 220 million, indicating a blended yield of around 9%. Blackstone expanded its portfolio by acquiring the European shopping center portfolio of Multi Development. Turkish assets made up the largest part of that portfolio and included Forum Marmara and Forum Istanbul, two super-regional shopping centers in Istanbul, and 6 other centers as well as some projects in the pipeline across the country.

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The prices of the chosen properties are compared to your budget, and both parties reach an agreeable amount and set the best transfer mode of payment. A certified birth certificate or any official document that shows the date and place of birth. From the moment one is born in the country, they become its citizen. Not only that, if a child is born outside Turkey to a Turkish mother or father then he or she is also taken as a Turkish citizen.

turkish citizenship by investment

Before you receive the approval you should purchase a real estate and open a bank account in Turkey. By becoming a Turkish citizen, you earn easier ways to relocate to Europe or countries like the UK law firm and the USA because of the visa categories for Turkish citizens. Investors can relocate to the UK by using the Turkish Businessperson Visa, and begin the application for British citizenship as well.

By acquiring a property or properties worth a minimum of USD 250,000 or equivalent foreign currency or Turkish Lira. At times unaware of these risks, foreign agents are promoting these risk-ridden investment properties to their clients as they lack in-depth knowledge of the Turkish real estate market. By not knowing ‘who is who’ in the Turkish real estate Turkish staying permit markets, they may be exposing their client to risks down the line. Down to this point; We have outlined the most important procedures and documents required from investors who are interested in applying for Turkish citizenship in exchange for buying a property in Turkey. In this regard, there is an important note that you should take into account.

In conclusion, I should admit that the new changes have brought about significant amount of extra burden for the foreign investors and their lawyers. With the new changes, the Turkish citizenship through real estate investment procedures require much more due diligence efforts. Moreover, some of the new rules can be criticized because they are unnecessarily restrictive and vague. The uncertainty to be created by those rules will exhaust the foreign investors and the lawyers until the things become more clear. This is why it would be much safer for the foreign investors to work with the competent legal experts in this field.

A 3-month stay is granted upon arrival which can be extended to 180 within a one-year period. Costa Rica Turkish passport holders do not require a visa to enter Costa Rica. Ecuador Turkish passport holders do not require a visa to enter Ecuador. El Salvador Turkish passport holders do not require a visa to enter El Salvador.

As mentioned above, the reasons of applying for another citizenship may depend on the personal objections and expectations such as security, business purposes, health care, financial stability or education facilities. Foreigners whose has an uninterrupted residence period in Turkey for 5 years with a special residence permit for property owners can acquire Turkish citizenship through a general application. Turkish citizenship by investment to the General Directorate of Population and Citizenship Affairs together with the residence permit and all of the documents you get before this stage. With our 15+ year experience on global mobility and immigration as PwC Turkey we undertake the citizenship by investment application process from start to end and provide all the associated consultancy and assistance around citizenship. Turkish Citizenship Invest is founded by Ocakli Law Firm and a group of real estate companies in an effort to combine their expertise in order to provide full range of services for foreigners seeking Turkish citizenship by investment.

Fifth: What Are The Conditions For Obtaining Turkish Citizenship By Investing In Turkish Real Estate:

Turkish company specializing in real estate consultancy and brokerage, located in Istanbul. We have agreements with most of the major construction companies in Istanbul focusing on foreign real estate investors, who want to own in Turkey. Property Istanbul is the real estate channel that allows you to find information about all the brand new projects in Istanbul built in the last 20 years. It directs you the construction company directly for the projects which are under construction. It also finds you the best resale options in completed projects through different local agencies.

But poor recommendations are just the tip of the iceberg when it comes to all the incorrect notions about what, where, why, and how you can obtain citizenship by investment. Many countries will try to sweeten the pot by eliminating any need to relocate to or reside in the country, speak that country’s language, pay taxes, or fulfill basically any other requirement typically required of other citizenship applicants. Countries that offer citizenship by investment have determined that individuals who contribute to the economy by making an initial investment or donation fulfill this responsibility and merit citizenship in return. Traditionally, citizenship has been granted through birth, naturalization, and marriage.

He is a great communicator, negotiator and very adept with customer care. Having lived over 25 years in the UK holding British Citizenship and over 10 years in the UAE, Firas is fluent in both English and Arabic. Bringing a wealth of knowledge in the field of Immigration and Citizenship by investment Firas holds the customers’ needs in the highest regard and always aims to deliver the highest level of customer satisfaction. Study the application, sign the retainer agreement, prepare tailor made list of documents and application preparation.

turkish citizenship by investment

Accordingly, it is not possible for the amounts deposited in the foreign branch, affiliate or representative office of a bank operating in Turkey to be accepted as a basis for citizenship application. Foreigners are required to deposit a minimum of 500,000 USD or equivalent foreign currency or equivalent TL deposit or participation fund to any bank operating in Turkey, with the condition of keeping it for 3 years. It is sufficient for this amount to be freely convertible (such as convertible currencies, precious metals, etc. specified by the Central Bank of the Republic of Turkey) and its equivalent of 500,000 USD. All applications are evaluated by the General Directorate of International Labor of the Ministry of Family, Labor and Social Services. Applications without any deficiencies are finalized within 7 business days. In applications made with a missing information and document, 30 days is given to the applicant in order to complete the deficiency.

turkish citizenship by investment

For this purpose, companies are required to apply first to the governor’s office where the property is located. If the real estate acquired does not include any previously built construction, the owner of the foreign origin is to apply to the relevant public administration within two years in order to develop a p​roject. Countries whose nationals are eligible to acquire real estate in Turkey are determined by the Cabinet of Ministers, who may also stipulate special conditions for acquisitions if deemed necessary. The company which provides the portfolio should be working under the supervision of the Capital Markets Board of Turkey.

turkish citizenship by investment

The purchase of other types of real estate are also eligible in the scheme. Your application can cover citizenship not just for you, but also for the wife/husband, and any children under the age of 18. Applicant’s spouse and children who are less than 18 years old will also be granted Turkish Citizenship. Due to its turkish citizenship by investment natural and cultural diversity, Turkey offers many investment and business opportunities in various economic sectors. The strongest pillars of the economy are agriculture, tourism and manufacturing. However, the renewable energy industry, the defense industry and the mining sector have also grown significantly.

  • The last thing to do is to apply for Turkish citizenship, after obtaining a short-term residence permit and a “certificate of conformity” stating that the investment is suitable for citizenship.
  • Görkem CAN is a professional writer who likes to write about real estate trends for investors.
  • Turkey neither require citizens to declare their assets they own, nor require its citizens to report their earnings located outside of Turkey.
  • The applicant would need to provide evidence of a clean police background as well as clean source of funds.
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