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Guidelines On How To Get Turkey Citizenship By Investment

04/02/2021
Guidelines On How To Get Turkey Citizenship By Investment

The option to grant citizenship by investment has become an economical means to generate revenue in many countries. It is used to promote foreign investments, strengthen the labor force, and generate revenue in the State. Turkey has witnessed a steady growth in the number of foreign investors investing in real estate properties in return for citizenship. There are simple and convenient ways on how to get turkey citizenship by investment. The procurement of Turkish citizenship by investment is regulated and governed by the Council of Ministers as per the amendment of Article 20 of the Regulation of the Turkish Citizenship Law's implementation.

Conditions to get a Turkish citizenship

Foreign investors who fulfill one of the below conditions may be granted citizenship-

  • Foreign investors who make a capital investment of a minimum of $500,000 in a Turkish bank determined by the Ministry of Industry and Technology.
  • Foreigners who purchase property worth $250,000 with legal documentation.
  • Foreigners who opt for the business option have to generate employment for at least 50 citizens determined by the Ministry of Family, Labor, and Urbanization.
  • Foreigners who deposit a sum of $500 in banks that operates in Turkey. The condition is to keep the deposit for three years, regulated by the Banking Regulation and Supervision Agency.

Please note that foreign amounts are determined based on the currency rate exchange.

The process of getting a citizenship

  1. You have to fulfill one of the investment conditions as per Article 20 of the Regulation and procure the eligibility certificate.
  2. Make sure to obtain a residence permit as per Article 31/1-j of Law no. 6458 in order to avail of the citizenship service.
  3. Apply for Turkish citizenship by investment.

These are the necessary steps on how to get turkey citizenship by investment.

Available Turkey citizenship by investment options

As per the Turkish Citizenship Law, citizenship can be acquired through investment. However, the government has laid several options for investment.

  • Investment of a minimum $250,000 on real estate properties.
  • Establish a company with a minimum capital of $500,000
  • Invest in state bonds and financial instruments with a minimum of $500,000.
  • Invest in capital investment funds with a minimum of $500,000.

For all the above investments, the applicants need a valuation report that proves the authenticity of the investment. This valuation must be licensed from the Capital Market Board of Turkey.

Determining the exchange rate

When you are dealing with foreign currency, you have to be up-to-date with the currency value. Similarly, when purchasing a property in Turkey, you have to know the current currency rate of the time in which you are buying properties in Turkey. The Central Republic Bank of Turkey will take some useful exchange rate values.

Required documents for obtaining a certificate of conformity

  • Valid passport and Notarized translation.
  • Passport size photos- colored.
  • Official title deed or notarized sale contract.
  • Bank approved receipt that has to be presented by both parties.
  • Annotation of no sale for 3 years on the property at title registrar.

Perks of getting Turkish citizenship by investment

Out of the many countries that allow acquiring citizenship by investment, Turkey proves to be one of the best. There are additional perks that you can enjoy after you are granted citizenship. Business opportunities are widened. You can take advantage of the Customs Union Agreement between Turkey and Europe. The best part about the entire process of citizenship is that your family can also be granted citizenship. Turkey is one of the most cost-effective countries to live in. You can also avail of the dual citizenship offer in Turkey. Procuring citizenship in Turkey allows you to visit several countries without any visa. These are a few of the reasons why you should invest in Turkey in return for citizenship. For your convenience, the guidelines on how to get Turkey citizenship by investment has been made much more convenient.

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