TURKISH CITIZENSHIP BY INVESTMENT
Turkey is a secular country, has Muslim Majority, located between Europe and Asia. Using a strong domestic market, educated young population and strategic location, Turkey has attracted around USD 209 Billion of FDI during the 2003-2018 period.
Turkish Citizenship Law No: 5901 is amended three times in 2017, September 2018 and December 2018 respectively. Pursuant thereto, to apply for Turkish citizenship by way of real estate investment in Turkey, the real estate shall be purchased with a minimum value of USD 1,000,000. However, with the last amendment, the minimum value of the real estate investment shall be USD 250,000. However, this immovable property must hold at least three years.
The comparison with other investment programs, the Turkish Citizenship Program by Investment has the advantage of amount, shall be invested in.
One another possibility is obtaining citizenship with capital investment. Fixed capital investment of a minimum USD 500,000 or equivalent foreign currency or equivalent Turkish Lira on Turkish Treasury Bonds enable to apply for citizenship with the condition of holding three years.
The capital investment shall be proven certified public accountant in Turkey.
Citizenship by investment
Legal basis
Pursuant to presidential ecree dated September 18th, 2018 and numbered 106, “Regulation Amending the Regulation on Implementation of Turkish Citizenship Law” has entered into force and accordingly, foreigners having any one of the conditions below will be eligible to obtain Turkish citizenship.
Having purchased a real estate worth at least USD 250,000.00 or other foreign currency or the equivalent amount as Turkish Liras provided that an annotation is affixed into title deed registry stating that the real estate will not be sold in the following three (3) years and determination of such purchase by the Ministry of Environment and Urbanization,
Providing employment for at least fifty (50) employees and determination of such employment by the Ministry of Family, Labor and Social Services,
Having deposited minimum USD 500,000.00 or other foreign currency or the equivalent amount as Turkish Liras in banks operating in Turkey, provided that the deposits are hold for the following three (3) years and determination of such deposits by the Banking Regulation and Supervision Agency (BRSA),
Procedure to be followed
- Obtaining Turkish citizenship by purchasing real estate worth at least USD 250,000 with a deed restriction against selling the real estate within three years.
- With such investment; the person purchasing the real estate, their spouse and their children under 18 can all become Turkish citizens.
- There are several stages of obtaining Turkish citizenship by purchasing real estate worth USD 250,000. The process consists of; first transactions in title deed, then obtaining of residence permit from Provincial Immigration Administration and finally the necessary procedures in Civil Registration and Citizenship Directorate.