How to get Turkish Citizenship by Investment in 2024?
Citizenship by investment is an alternative program that offers the chance to acquire Turkish citizenship. The policy of obtaining citizenship through investment focuses especially on the real estate sector. Those who choose this path of entrepreneurship contribute to the Turkish capital and economy, while also trying to benefit from gaining Turkish citizenship.
Article Contents
- How to get Turkey Citizenship by Investment?
- Requirements of Turkish Citizenship by Investment
- Benefits of the Turkish Citizenship by Investment Program
- Turkey Passport Visa Free Country
- Procedures and Time Frame of the Turkish Citizenship by Investment Program
Citizenship by investment is a unique opportunity that Turkey offers to investors. The investment advantages offered by Turkey are generally based on various criteria such as real estate investment, employment creation or capital investment. Citizenship by investment offers a range of opportunities to both individuals and businesses, while increasing Turkey’s economic attractiveness at the global level.
How to get Turkey Citizenship by Investment?
If you want to apply for Turkish citizenship by investment you must fulfill the conditions determined within the framework of the “Foreigners and International Protection Law“.
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Minimum Investment Amount: €400,000
Processing Time: Three to four months
The Key Benefit: Free entry benefit in Turkey and
many countries in the region
In general, the following conditions may be required to obtain Turkish citizenship by investment:
- Investing a certain amount in Turkey. This can often include different types of investments such as real estate, deposits, businesses or employment creation.
- The minimum investment amount may vary depending on the sector to be invested in.
- It may be necessary to collect the necessary documents for citizenship by investment and follow the application process.
- The evaluation and approval process of your application may take several months. Once approval is received, the transition to Turkish citizenship can be completed.
Requirements of Turkish Citizenship by Investment
To qualify for citizenship, the main applicant must fulfill one of the following investment conditions:
- Acquire real estate worth at least 400,000 US Dollars
- Make a minimum investment of 500,000 US Dollars in fixed capital contributions
- Deposit at least 500,000 US Dollars into a Turkish bank account
- Commit to at least 500,000 US Dollars in government bonds
- Commit to at least 500,000 US Dollars in real estate investment fund shares or venture capital investment fund shares
- Commit to at least 500,000 US Dollars in the individual pension system for a minimum of three years
- Create employment for at least 50 individuals according to the approval of the Ministry of Family, Labor, and Social Services
Related Blog : Cost of Building Custom Home in Turkey
Required Documents for Turkish Golden Visa
- Birth certificates of all the applicants
- Passports of each applicant
- Residence Card
- Biometric, colored passport photos of each applicant
- Marriage certificate (optional)
- Death or divorce certificate of spouse (optional)
- Police clearance or clean criminal record
- Proof of Health Insurance (valid in Turkey)
- Proof of investment of $400,000 into a Turkish bank account or lawyer’s client account
- Turkish Tax ID Number (necessary)
Note: You have the option to include your spouse, dependent children under the age of 18, as well as children of any age with disabilities.
Eligibility Criteria for Turkey Citizenship by Investment
The following requirements must be satisfied in order to be qualified for a Turkey Investment Visa:
- The candidate needs to be an adult .
- The candidate needs to have a clear criminal record.
- The candidate shouldn’t have stayed in Turkey illegally.
- The investment ought to have undergone due diligence.
- The funds that will be utilized for the application has to be legally acquired.The applicant must have a clean criminal record
Benefits of the Turkish Citizenship by Investment Program
Benefits of the Turkey Citizenship by Investment Program can be listed as follows:
- Visa-free or visa-on-arrival access to over 110 destinations, including Hong Kong, Japan, and Singapore
- Citizenship in a country with a mild Mediterranean climate, beautiful scenery, and a high standard of living
- Full citizenship granted to the applicant and included family members
- Eligibility for an E-2 Investor Visa in the USA after residing in Turkey for three years, valid for a five-year renewable period
- Access to a transcontinental Eurasian country that serves as a stable economic, financial, and political hub between Europe, Western Asia, and the Middle East
Until May 2022, the minimum investment required to obtain Turkish citizenship was $250,000. On May 13, though, it was raised to $400,000. In the past, investors may buy several houses as long as the total cost came to $400,000 or more in order to qualify for citizenship. It will probably rise to $600,000 in February 2024.The regulations pertaining to this have been revised
2024 Citizenship updates
Turkey Passport Visa Free Country: Where Can Turkish Passport Holders Travel Without a Visa?
Turkey passport holders enjoy the privilege of visa-free travel to numerous countries around the world. Explore the freedom to discover new destinations without the hassle of obtaining a visa, thanks to the convenience of a Turkish passport.
As of January 2024, Turkish passport holders will have the opportunity to travel to 76 countries and regions visa-free: South Africa, Thailand, Northern Cyprus, Ukraine, Uruguay, Morocco, Brazil, Argentina, Kuwait, Bahrain, Lebanon, and most African nations. Other countries include Qatar, Singapore, Tunisia, Jordan, Iraq, Japan, South Korea, Malaysia, Hong Kong, Indonesia, Belarus, Bosnia, Chile, Colombia, Ecuador, El Salvador, Georgia, Paraguay, Serbia, and more.
What Countries Issue eVisa to Turkish Citizens?
For visa-free travels, a valid passport, typically with a validity of at least six months beyond the departure date, and the purchase of required travel health insurance are essential.
Turkish passport holders can obtain eVisa for entry into the following 20 countries: Benin ,Bhutan ,Cameroon ,Democratic Republic of the Congo ,Ivory Coast ,Djibouti ,Gabon ,Guinea ,Iraq ,Kenya ,Lesotho ,Malawi ,Montserrat, Myanmar ,Nigeria ,Russia ,South Sudan ,Togo ,Uganda ,Vietnam
Procedures and Time Frame of the Turkish Citizenship by Investment Program
After selecting the qualifying investment option, applicants initiate a residence permit application on behalf of their families. The main applicant is subsequently mandated to open a bank account in Turkey.
Once all required application documents, including relevant certifications and translations, are prepared, the investment can be finalized, and the documents can be submitted to the government.
Payments must be made in Turkish lira, equivalent to the USD amount. Candidates who are accepted are required to travel to the country in order to submit biometrics for the residence application.
After three to five months, applications are normally approved, and citizenship documents are then issued. The passport application can then be filed after that.
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Turkish Citizenship by Investment Bank Deposit
Investment bank deposit for Turkish citizenship refers to a program in which foreign nationals who want to apply for Turkish citizenship aim to obtain citizenship by investing 500,000 USD amount in Turkey Banks .
Within the framework of the “Turkish Citizenship Law for Foreigners” that came into force in Turkey, foreign investors who meet certain conditions can apply for Turkish citizenship in order to support economic development. One of these conditions is to invest a certain amount.
One of the investment methods is to open a deposit account in a bank in Turkey for a certain period of time. A 500,000 USD amount is required for the applicant to apply for Turkish citizenship.
People who want to apply for Turkish citizenship by opening an investment bank deposit for Turkish citizenship must both fulfill the investment amount and comply with other application conditions. The application process usually involves a series of documents and review processes. At the same time, the applicant is expected to demonstrate his intention to contribute to economic activities in Turkey.
Other Options To Obtain Turkish Citizenship
In addition to obtaining Turkish citizenship by investment, there are several paths to citizenship, including:
- By marriage: After three years of marriage to a Turkish citizen, you may become eligible for citizenship.
- By birth: You may also be eligible for Turkish citizenship if one of your parents is Turkish.
- By employment: You may be eligible for citizenship if you have been employed in the nation under contract for at least five years.
- By naturalization: You can become a citizen of Turkey after five years of residency.
- For special merit: You may be eligible to receive Turkish citizenship if you have made notable contributions to science, athletics, or culture.
Turkish Citizenship for Indians
Indian citizens can get Turkish Citizenship with family members below age of 18 by investment programs.The citizenship by investment program is becoming more and more popular with Indian investors who are searching for new business opportunities. Indian businesspeople are migrating to Turkey in greater numbers due to the country’s convenient climate.
Turkey’s membership in NATO, the UN, the World Bank, and the IMF makes it an appealing alternative for Indian investors to obtain Turkish citizenship.
Turkey Citizenship for Pakistani
Pakistani citizens can get Turkish Citizenship with family members below age of 18 by investment programs .Turkey’s nice climate, rich history, diverse population, great food, stunning natural surroundings, and delicious cuisine make living there the life of dreams for many tourists. Turkey has seen a rise in Pakistani immigration as a result of these advantages and their close links.
The most common option for immigration from Pakistan to Turkey is investment-based immigration. Turkish citizenship for Pakistanis through investment is much sought after due to Turkey’s numerous advantages for Pakistani families, including its excellent free educational institutions and dependable healthcare system.
The primary need for Indian and Pakistani nationals is fulfilling a qualifying investment, which grants them Turkish citizenship. Real estate, capital investments, and employment development are among the investing alternatives. Notably, citizens of both nations can include family members under the age of 18 on their application.
Frequently Asked Questions
How much should you invest in Turkey to get citizenship?
The average investment amount required to obtain citizenship in Turkey is between 400.000$ and 500.000$. Investments made to obtain citizenship in Turkey can be:
- Turkish citizenship by investment (real estate) need to purchase property at least 400,000 USD in Turkey. This is a method generally used by those who want to “invest in Turkey for citizenship”. The Property which purchased for citizenship can not be sell in 3 years.
- Establishing a business and creating a minimum of 50 job positions is also considered as an option for “investing in Turkey for citizenship”.
- Deposit at least USD 500,000 into a Turkish bank account or participating in investment funds for a USD 500,000 is also one of the prominent options for applying for citizenship.
Do you get citizenship if you buy property in Turkey?
Yes, purchasing real estate in Turkey contributes to the process of acquisition of turkish citizenship. If you want to apply for citizenship by purchasing real estate, you should pay attention to the following conditions:
- In order to acquire Turkish citizenship an investment above a 400,000 USD amount is required.
- It is important to keep the invested property for a 3 years period of time. In this period you can not sell the property .
- Your investment will be carefully examined and approved by Turkish authorities. Your financial situation, the legality of the investment and other factors will be evaluated.
How much does it cost to apply for Turkish citizenship?
The cost to apply for Turkish citizenship may vary depending on the type of application and the nature of the investment. İn Average cost to apply for Turkish citizenship can cost you 4000 USD for Lawyer fees and 1000 USD for governments fees. The amount of investment varies depending on the type of investment preferred by the applicant.
For example, the most common among people who apply for Turkish citizenship through investment is the acquisition of real estate. In this case, the cost varies depending on the value and location of the acquired real estate.
Other types of investments may include options such as starting a business, opening a business or ensuring a certain level of employment. In this case, the cost varies depending on the nature and size of the investment chosen by the applicant and the minimum investment amount determined by Turkey.
Additionally, the application process, consulting fees, and other expenses may also affect the cost. However, costs may change over time, and current legislation and policies in the reference period may also affect prices.
How many years does it take to get Turkish citizenship?
The time it takes to obtain Turkish citizenship is a few months. However, in some cases this period may be longer. It is difficult to make an accurate estimate of how long the application process will take for those who want to obtain Turkish citizenship through investment. Submitting the applicant’s documents completely and accurately can contribute to the faster progress of the process.
Factors influencing the duration of transactions may include:
- The application process, which can vary based on the type and amount of investment.
- Thorough and complete preparation of required application documents, which can expedite the process.
- Workload variations in migration management units during certain periods, affecting application processes.
- Detailed investigations into the applicant’s background, financial situation, and the legitimacy of the investment, which may prolong the process.
- Changes in immigration policies over time, potentially affecting the overall process.
