Turkish Citizenship by Investment Program
The Turkish Citizenship-by-Investment program was launched in 2017 to attract foreign direct investment and boost the country’s economy.
In 2018, some significant changes were made in the legislation for acquiring Turkish citizenship through investment.
TURKISH CITIZENSHIP BY INVESTMENT PROGRAM REQUIREMENTS:
In accordance with the revised regulation, there are six different options available to a foreign investor to acquire Turkish citizenship by investing. These options are as follows:
1) Purchase a property of at least US$250,000 and keep it for three years OR
2) Make a fixed capital investment of at least US$500,000 OR
3) Deposit at least US$500,000 or equivalent foreign currency or Turkish lira into a Turkish bank account and keep the account for three years OR
4) Invest at least US$500,000 or equivalent foreign currency or Turkish lira into government bonds on the condition of keeping them for 3 years OR
5) Invest at least US$500,000 or equivalent foreign currency or Turkish lira into real estate investment fund or venture capital investment fund for at least three years OR
6) Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services.
The best and cheapest option, however, is real estate investment since the Turkish housing and construction sector is very active and lucrative.
The process to be followed for Turkish citizenship by investment consists of 3 stages. These stages are:
- Receipt of a certificate of conformity – Application for the receipt of conformity certification shall be made to the relevant government departments depending on the type of investment the investor wishes to make.
- Obtaining a residence permit and
- Applying for citizenship – The citizenship application shall be made to the Provincial Population and Citizenship Directorate.
Benefits of Turkish Citizenship by Investment Program
- Cheapest Citizenship by Investment (CBI) Program in the world.
- Investors will be able to get their money back with legal interest (if money is invested in options 2 to 5) or will be able to dispose the real estate at the end of three years without affecting their citizenship
- Quick processing times
- No minimum stay requirements
- Spouse and children under age of 18 years can be included in the same application
- Full free medical assistance covering all family members for life
- Free public school system
- Dual citizenship permitted
- No need to declare wealth
- Return on Investment (ROI) for property purchased
- Visa-free travel to more than 115 countries
- Relocation opportunity to USA with E-2 investor visa
- Relocation to the UK under Ankara Agreement. After 5 years, one can apply for UK passport