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Why invest in Turkey?

In June 2022, Turkey introduced changes to the Turkish Citizenship by Investment program, allowing new buyers to obtain citizenship for just 400,000 dollars making it one perhaps the most cost-effective and appealing citizenship by investment programme worldwide. When the program was initially established, the limit was set at 1,000,000 USD.

Since the beginning of time, thousands of potential buyers have made applications and have been granted Turkish Citizenship through investment in real property in Turkey. This blog will walk you through the procedure from A-Z , including all the requirements as well as the official procedure. what are the benefits of being granted Turkish citizenship by investment.

What are the advantages to having Turkish Citizenship?

Citizenship for spouse and children – Spouse of the applicant, as well as any children that are under the age of 18 will also get Turkish citizenship under this scheme. Any children born after will be granted citizenship upon birth. If you are older than 18, must be citizens independently.

Dual Citizenship – Turkey permits Dual Citizenships, meaning that you can maintain your current citizenships without having to give anything up to get them to buy real estate.

Visa-free travel – Those with an ordinary Turkish Passport are able to be a tourist in 104 countries with the need for a visa or an entry visa upon arrival. This puts a Turkish Passport in the top 30 most powerful passports in the world. A Turkish Passport is valid for 10 years.

You can work in Turkey Citizenship holders can work for free in Turkey. In the past, a work permit was required. Citizenship makes it easier working in a nation which acts as the entry point across Europe along with Middle East. Middle East.

Insurance, healthcare as well as bureaucratic ease When you become a citizen, you’ll be able to have the option of cheaper healthcare and insurance coverage in Turkey. You’ll also be able to vote in national elections. Additionally, you will have access to a state pension and are eligible for Turkish loans.

There is no residency requirement at all. Citizenship lets you leave and come back to Turkey at any time you like with no risk of losing citizenship. You don’t have to stay in Turkey once you have obtained your citizenship.

You can move to the UK as an Turkish citizen, it’s possible to reside and work in UK. United Kingdom with relative ease as you can apply for an Business Person visa and then even get British citizenship in the future. A huge draw of the investment programme.

Working with the United States – Another option for Turkish citizens is to get the E-2 investor visa to assist in a smooth transition in the USA. If your goal is to be a resident of the US, Turkey is a great option on that path with the real estate option.

There is no military requirement – Anyone who invests and moves to Turkey the investment programme, are exempt from the mandatory military service. Your dependents are also exempt.

Citizenship as well as Superb inheritance laws. One advantage of citizenship is the fact that Turkish law protects your legal heirs in the unfortunate event of your death. It ensures that your property will be handed down easily to your grandchildren in the future, with not much red tape to navigate.

How do you get Turkish Citizenship through investment in the property guide?

Step 1 – Get a Turkish Tax Registration Number

You can receive Tax Registration Numbers at any tax office location in Turkey using your original passport. Photographs are required.

Step 2 – Make a bank deposit in Turkey

It is important to have a passport as well as a Tax Registration Number are needed to opening a bank in Turkey. Also, you’ll need an official document like the utility bill which shows your current address in Turkey.

Step 3: Locate an asset worth at least 400,000 USD

The property must not be less than 400,000USD and can be a one-time house or multiple units, such as those investing in units in Turkey. The house must be close to being completed or already completed with a Habitation Licence granted and a Title Deed or Construction Services ready. It must be suitable for an Official Valuation to be eligible for citizenship.

Step 4 – Buy the property in Turkey

The property must be purchased through a Bank Transfer with document and receipt of the transaction. It is important that the Title Deed Registry or Notarised Sales Contract should be endorsed to say that the property won’t be sold in about three years after the purchase. After three years is up, you can sell all your assets in Turkey and maintain your citizenship for life.

Step 5: Obtain the Certificate of Conformity

The process involves submitting an Official Valuation Survey and submitting the receipt of the Bank Transfer to the Ministry of Environment and Urbanisation.

Step 6 – Request for Turkish Residency

Apply for Turkish Residence through the Directorate General of Migration Management after obtaining all the necessary documents needed. A key step on the path to citizenship.

Step 7 : Apply for Turkish Citizenship through Investment guide

Now you can submit an application to apply for Turkish Citizenship through the Directorate General of Migration Management after receiving your Turkish Residency and gathering all the required documents to apply for it. You now have Turkish Citizenship.

Documents required to apply for Turkish Citizenship?

– Copy of birth Certificate – Each one must be authenticated and stamped with the stamp of your home country Ministry of Foreign Affairs and the Turkish Embassy in your home country . Alternatively, you can Apostille the papers according to the Apostille Convention (Hague Treaty Convention 12)

Marital Status – This includes marriage Certificate, Divorce certificate, or death certificate for spouses if widowed. Each certificate must be stamped and authenticated from your home country’s Ministry of Foreign Affairs and Turkish Embassy or Apostilled in accordance to the Apostille Convention (Hague Treaty Convention 12)

Biometric pictures 4 Biometric photographs that have a white background the size of 5 x 6 for all family members who apply in addition to 8 additional Biometric pictures regular sized and on a white background for the main applicant only

Copy of the original Passport

– Power of Attorney granted

Receipt of Wire Transfers

– Proof of Address/ Certificate of Residence – real estate Proof of Address has to be provided by governmental institutions. Bank statement or utility bills are not acceptable. Each certificate needs to be stamped and authenticated from your country of residence Ministry of Foreign Affairs and the Turkish Embassy OR Apostilled in accordance in the Apostille Convention (Hague Treaty Convention 12)

Application forms are filled in
Other ways to receive Turkish Citizenship through investing?

1 – Offer employment to more than 50 persons living in Turkey

2 – Fixed Capital Investment of not less than 500,000 USD

3 – 3 – Purchase the State Dept Instruments worth 500,000 USD

4. Deposit at least 500 000 USD in the account of a Turkish Bank

5 . Venture Capital Investment Fund worth 500 000 USD

Be aware that all of these options mentioned above cost more than the price of acquiring citizenship through investing in real estate.

Why invest in Turkey?

The climate is fantastic – Certain cities in Turkey have more than 300 days of sunny weather throughout the year. buying a house in Bodrum to meet citizenship requirements is also a great option for those looking for glitz and glamour. Antalya is a perfect year-round working atmosphere, along with mountains, beaches and skiing. Real estate in Fethiye is popular with British buyers, and is also home to the stunning Blue Lagoon located in Oludeniz.

In between East and West Between East and West Turkey acts as a bridge between Turkey’s East and West and, is a great place to find business opportunities and travel opportunities. Buying a property in Istanbul is your way to the gateway of Istanbul’s metropolitan area.

A safe environment for families to live in Family-friendly Turks are famous for their hospitality and accommodating to foreigners as well as expats as well. Those who live in Turkey or purchase real estate can do so in a secure and comfortable environment. There are some of the top international schools for your children along with shopping malls that have branded stores full of stores, and other facilities accessible.

Turkish food – Turkish food is some of the most delicious in the world. Famous for its amazing tastes and delicacies, Turkish cuisine will have you returning to Turkey repeatedly to try a kebab, or savor fresh vegetables and delicious food, whether you’re eating street food in Istanbul or indulging in gourmet meals at a seaside restaurant.

Turkish healthcare is affordable and provides excellent healthcare services, Turkey is fast rising as one of the top destinations for healthcare and private medical tourism . It has five star hospitals throughout the country as tourists frequently travel to undergo surgeries for a fraction of the cost in their home countries.

Regional powerhouse – Turkey stands at forefront of the developed countries throughout the area. As an EU Candidate and G20, NATO Member, it is only going to be positive for Turkey moving forward.

Cost-effective – Due to the decline of the Turkish Lira, now is the ideal time to buy property in Turkey for a reasonable price. It is possible to purchase three or four-bedroom villa in some of the most desirable locations in the country to meet the 400,000 USD threshold. Value for money can also be found across the country, whether it’s housing, lifestyle expenses, or day-to-day expenses.

Turkish Passport for investment FAQ

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

By using Property Turkey as your agent, it usually takes around 4 to 6 months to complete your process and get your citizenship in Turkey significantly faster than other countries around the world. For more information, please call us or contact us to speak to one of our staff members.

Do I need to live in Turkey in order to maintain the Turkish passport or citizenship? Turkish passport?

No. You aren’t required to remain in Turkey an exact number or even a certain number of days each year after you’ve completed your application.

Do I need to surrender my previous citizenship to be Turkish? Turkish citizen?

No. You can keep your original passport and citizenship as Turkey permits its citizens to hold dual citizenship.

My citizenship will expire in the near future?

No. If you purchase the property and occupied it for a minimum of three years and your citizenship is guaranteed for life, because it will be guaranteed for your spouse as well as any children included in your original application.

Do I need to learn Turkish for the purpose of obtaining one? Turkish passport?

No. Unlike some citizenship programs around the globe, you’re not required to study the Turkish language in order to apply. However, if you’re intending to move to Turkey on a regular basis knowing the fundamentals of the language is highly recommended for an easier integration into life in Turkey.

Can I obtain citizenship for my dependents and my children?

Yes. By investing in Turkey in a property worth at least 400,000 USD you will be able to obtain an identity card for yourself or your spouse as well as any children who are under the age of 18. Children who are above the 18 years of age will need to apply for the passport by purchasing an asset in their name which is at least 400,000 dollars.

What are the countries I can be able to visit using a Turkish passport?

The Turkish passport is extremely durable. Currently you can travel visa-free to more than 100 countries around the globe including Japan, South Korea, South American countries, and plenty more. Being a Turkish Citizen lets you easily travel to Canada, the US, UK, Canada, Australia, and the EU.

Do I need to declare my wealth to Turkish authorities?

No, you do not. According to the Turkish tax authorities don’t need to ask questions about your financial standing or your assets.

Are there tax implications I should be aware of?

Turkey has agreements on double taxation with the majority of countries of the developed world , as of 2021. So, if you’ve paid tax-related taxes on income that you earned outside of Turkey, you are unlikely not to receive tax benefits from the Turkish government. Contact us today to speak with a Turkish tax specialist who will answer any questions you may have.

Can nationals from other countries apply?

Under Turkish law, citizens from certain countries are not currently able of applying for Turkish Citizenship. They are currently citizens of: Armenia, Cuba, Nigeria, North Korea, and Syria.

Can I pay in a currency other than Lira?

Yes. The amount stated is in dollars, however you can pay in any currency you like. It is vital to take note of the fluctuations in exchange rates and currency when paying in a foreign currency.