Turkey Citizenship by Investment: Your Comprehensive 2024 Guide
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Turkey is a captivating destination known for its rich historical heritage, diverse cultural experiences, and exceptional cuisine. It has established itself as a prime location for global travelers and investors alike. As a transcontinental country bridging Europe and Asia, Turkey presents a unique advantage for international investors seeking access to lucrative markets in both continents.
For those looking to explore business and lifestyle opportunities, the Turkey Citizenship by Investment program offers a strategic pathway. This program enables foreign investors to secure Turkish citizenship while gaining a foothold in one of the world’s most dynamic economies.
Overview of the Turkey Citizenship by Investment Program
Introduced in 2017, the Turkey Citizenship by Investment program was designed to attract foreign capital and boost economic growth by stimulating the real estate market and increasing foreign direct investment. This program offers foreign investors the opportunity to gain Turkish citizenship by fulfilling specific investment criteria.
To qualify, applicants can choose from several options: purchasing real estate worth at least $400,000, making a fixed capital investment of no less than $500,000, or depositing $500,000 or more in a Turkish bank.
Situated at the crossroads of Europe and Asia, Turkey holds significant geopolitical value for business and trade. A Turkish passport provides a host of benefits, including visa-free or visa-on-arrival access to 126 countries, such as Hong Kong, Japan, and Singapore, making it an attractive option for investors seeking global mobility and business opportunities.
Benefits of Turkish Citizenship by Investment
One of the key benefits of applying for Turkey’s citizenship program is that it takes about three to four months for your application to be approved, which means you can obtain citizenship in practically no time. You won’t even have to attend any formal interview, nor will you have to visit Turkey before, during, or after your application. To top it off, you will have access to an incredible property market.
Visa-free travel
Visa-free travel to over 120 countries, making global mobility convenient.
Family Eligibility
Include your spouse and children under 18 in the citizenship application.
Eventual EU Access
Potential to access the EU market and its opportunities in the future.
Turkish Passport
Obtain a Turkish passport within four months, providing access to a powerful passport.
Turkish Passport
The Turkish citizenship by investment program stands out for its simplicity and efficiency, allowing applicants to acquire a Turkish passport within just four months. There are no minimum residency requirements, giving you the freedom to travel visa-free to over 120 destinations worldwide.
Visa-Free Travel Opportunities
As a Turkish citizen, you can enjoy seamless travel to many destinations across Europe, Asia, and beyond, thanks to visa-free or visa-on-arrival agreements with over 120 countries.
Access to the E2 Visa
Turkey's citizenship program also offers the advantage of access to the US E2 visa. Turkish citizens can apply for this visa, which allows them to work and reside in the United States by making a qualifying investment in a US business.
Citizenship for Your Family
The program enables the main applicant to include their spouse, dependent children under 18, and children of any age with special needs. This ensures that your family enjoys the same citizenship benefits as you.
Dual Citizenship Recognition
Turkey allows dual citizenship, so you can retain your original nationality while benefiting from the advantages of Turkish citizenship. This flexibility can open new opportunities for you and your family.
Future Access to the EU
Turkey is engaged in negotiations with the European Union, potentially paving the way for Turkish citizens to enjoy visa-free travel across EU member states in the future.
No Residency or Language Requirements
One of the appealing aspects of the Turkish citizenship program is the absence of any minimum stay requirements or language proficiency tests, making the process straightforward and accessible.
Turkish Citizenship Eligibility Requirements
To obtain Turkish citizenship through the investment program, the main applicant must meet these essential requirements:
- Be at least 18 years of age
- Have a clean criminal record
- Maintain valid health insurance
- No history of illegal overstay in Turkey
- Not be a citizen of restricted countries
Important: Citizens of the following countries are currently not eligible: Armenia, Cuba, Nigeria, North Korea, and Syria.
Investment Pathways to Turkish Citizenship
World of Citizen guides you through these investment opportunities:
- Real Estate Investment: Acquire property worth $400,000 or more. This can be spread across multiple properties, offering flexibility in your investment strategy.
- Bank Deposit: Place $500,000 in a Turkish bank with a three-year commitment. Available in USD, equivalent foreign currencies, or Turkish Lira.
- Government Bonds: Invest $500,000 in Turkish government bonds, with options in multiple currencies.
- Investment Funds: Contribute $500,000 to Turkish real estate or venture capital investment funds.
- Business Investment: Make a direct capital investment of $500,000 in Turkish enterprises.
- Employment Creation: Establish at least 50 full-time jobs in Turkey.
Benefits of the Real Estate Investment Route
At World of Citizen, we find that real estate investment is particularly attractive to our clients for several key reasons:
- Swift citizenship process - typically completed within months
- Investment flexibility - option to purchase single or multiple properties
- No residency obligations - living in the property is not mandatory
- Investment liquidity - property can be sold after three years
- Dual benefit - combines investment opportunity with potential holiday home
- Minimal restrictions - freedom to choose properties across Turkey
World of Citizen provides comprehensive support throughout your Turkish citizenship journey, ensuring a smooth and efficient application process. Our experienced team will guide you through each step, from selecting the right investment option to finalizing your citizenship application.
Essential Documents for Turkish Citizenship by Investment
Primary Documents Required
- Birth certificates (all applicants)
- Valid passports (all applicants)
- Proof of residence (recent utility bill)
- Biometric passport photos (colored, recent)
- Marriage certificate (if applicable)
- Death/divorce certificate of spouse (if applicable)
- Clean criminal record verification
- Valid Turkish health insurance proof
- Investment proof ($400,000 minimum deposit)
- Turkish Tax ID Number
Additional Property Investment Requirements
- Capital Market Board approved valuation report
- Property ownership certificate from Land Registry
- Developer's purchase agreement (valid)
Step-by-Step Guide to Becoming a Turkish Citizen
1. Decide on your investment route
The first step is to choose between real estate, capital investment, or a financial contribution.
2. Gather all documentation
Collect the required documents, including proof of investment and identification.
3. Invest and obtain residency
Complete your investment and apply for residency in Turkey.
4. Submit your application
Submit your completed citizenship application to the relevant authorities.
5. Receive your Turkish passport
After approval, obtain your Turkish passport and enjoy citizenship benefits.
Step-by-Step Guide to Acquiring Turkish Citizenship
1. Choose Your Investment Option
The first step is to decide how you wish to qualify for Turkish citizenship. Whether you prefer investing in real estate, contributing capital, or making a financial deposit, you’ll need to meet the minimum requirements. If opting for real estate, remember that obtaining a Certificate of Eligibility is required before proceeding.
2. Prepare All Necessary Documentation
Gather the required documents for your application, which can be a complex process. Engaging an immigration lawyer who specializes in Turkish citizenship can help streamline the paperwork and ensure that everything is in order.
3. Make Your Investment and Obtain a Residence Permit
After completing the investment and providing proof to the relevant authorities, you will automatically receive a residence permit. There's no need to live in Turkey before or after obtaining your residence permit, which simplifies the process for those applying from abroad.
4. Submit Your Citizenship Application
With your residence permit in hand, submit your citizenship application to the Provincial Directorate of Census and Citizenship. There’s no requirement to attend an interview or be physically present in Turkey while your application is being processed.
5. Receive Your Turkish Passport
Expect to receive your Turkish citizenship and passport, valid for 10 years, within approximately three to four months of submitting your application. Once approved, you’ll enjoy the benefits of Turkish citizenship, including visa-free travel to numerous destinations.
Turkey Golden Visa Processing Time
Month 1
Decide on your investment strategy and gather all necessary documents with the help of an experienced consultant.
6 Weeks
Apply for your residence permit. Your application will be processed quickly, usually within a few weeks.
Month 2
Submit your citizenship application to the relevant authorities and ensure all documentation is complete.
Month 4
Receive your Turkish passport, valid for 10 years, and enjoy full citizenship rights, including visa-free travel to over 120 countries.
Turkey Golden Visa Fees
Application Entry Cost
For single applicants, notary and translation fees start at $1,000, with an additional $250 for each extra applicant. The application fee is $400, and healthcare coverage costs around $700. The Turkish passport fee is $500.
Real Estate Investment Fees
If purchasing real estate to qualify for citizenship, the minimum investment is $400,000. Expect to pay 4-6% in land registry fees and stamp duty, plus legal fees (1% of the purchase price plus 18% VAT). Title deed transfers incur a 4% fee, shared between buyer and seller.
Tax Considerations
Turkey offers favorable tax conditions for foreign investors. There is no income tax on earnings from abroad, and staying under six months per year exempts you from being a tax resident. Corporate taxes stand at 20%, while VAT varies between 1% and 18%.
How Can World of Citizen Help You?
At World of Citizen, we offer personalized guidance for residency and citizenship solutions. Our experienced consultants assist with the entire process, from document preparation to successful application submission, ensuring a seamless journey to obtaining your new citizenship.
Frequently Asked Questions about Turkish Citizenship by Investment
What is Turkey Citizenship by Investment?
The Turkish Citizenship by Investment program is a streamlined initiative that enables foreign investors to obtain Turkish citizenship within three to four months by meeting investment criteria. Options include purchasing property, making capital investments, buying government bonds, or contributing to a government fund, all aimed at stimulating economic growth and positioning Turkey as a key international hub.
How Can I Acquire Turkish Citizenship through Investment?
To qualify, a minimum investment of $400,000 is required, most commonly through real estate acquisition. Other viable routes include a $500,000 capital investment in a Turkish bank, real estate investment fund, or venture capital fund. The process involves due diligence and compliance with regulations set by Turkish authorities.
What is the Minimum Investment Required?
The program mandates a minimum investment of $400,000, often allocated towards property purchases. This helps boost Turkey’s economy by driving foreign capital into the real estate market, creating jobs, and generating revenue.
How Long Do I Have to Retain the Property?
Investors must hold onto their real estate investment for at least three years. During this period, the property's title deed is restricted from sale to ensure compliance with Turkish investment and banking regulations.
Are There Any Residency Requirements for the Program?
There are no mandatory residency requirements for Turkish citizenship by investment. However, living in Turkey comes with advantages, such as a high quality of life, cultural experiences, and top-notch healthcare services.
Do I Need to Speak Turkish?
No, the Turkish Citizenship by Investment program does not require applicants to learn Turkish, making it more accessible for international investors.
Can My Family Be Included in My Application?
Yes, your spouse, children under 18, and children with special needs can be included in your Turkish citizenship application, ensuring that your whole family benefits from the program.
Are There Any Tax Implications?
Turkey has signed double taxation treaties with many countries, meaning you won't be taxed on foreign income. Additionally, the country does not impose a wealth tax, and the VAT on goods and services ranges from 1% to 18%.
How Long Does It Take to Obtain Citizenship?
The process usually takes around four months, making it one of the quickest routes to citizenship by investment in the world.
Can a US Citizen Apply?
Yes, US citizens can acquire Turkish citizenship by meeting the investment requirements. Dual citizenship is permitted, allowing Americans to retain their original nationality.
Are There Other Citizenship Routes?
Yes, other pathways to Turkish citizenship include military service, marriage to a Turkish national, descent, and naturalization.
Does Turkey Allow Dual Citizenship?
Yes, Turkey permits dual citizenship, allowing you to maintain your original nationality while enjoying the benefits of Turkish citizenship.