Turkish Citizenship by Investment
There are various types of programs available in Turkey for foreigners to obtain Turkish Citizenship by investment. Turkey has changed its’ immigration laws regarding citizenship in 2018 and made it quite easier compared to the previous regulation. These new regulations allowed for new citizenship application procedures that are generally available in other countries. Accordingly, new immigration law provides different types of schemes for foreigners to get Turkish citizenship by investment, and as per these latest amendments, the current criteria for Turkish citizenship eligibility is as follows:
Eligibility for Turkish Citizenship Applications
As per these latest amendments, the current criteria for Turkish citizenship eligibility is as follows:
- Foreigners who make a fixed capital investment of a minimum $500.000;
- Foreigners who purchase a real estate property with a minimum value of $250.000 (such property shall also have an annotation of no-sale for at least 3 years at the relevant title registry);
- Foreigners who generate employment at least 50 individuals;
- Foreigners who deposit a minimum of $500.000 to banks that operate in Turkey with the condition to keep such deposit in the relevant bank for at least 3 years
- Foreigner who purchase a minimum of $500.000 public borrowing vehicles and keep in reserve for at least 3 years
The most popular way is the application for citizenship through purchase of a real estate with a minimum value of $250.000. As ASY LEGAL, we assist our clients starting from the initial procedures, including the preparation and submission of the relevant documentation for real-estate purchase, to finalizing the citizenship application procedures. Please click here to review our infographic briefly summarizing the application procedures for Turkish citizenship by investment (also available via Mondaq).
Recently there is also a trend from our Asian based clients to apply for the fixed capital investment option of $500.000. It simplifies the application and gets finalized faster since there is no title deed registration and document of conformity process. Please refer to our published article for further information on other investment options here.
Benefits of Turkish Citizenship
There are major benefits to obtaining Turkish citizenship:
- Visa-free travel to 72 countries, easy visa-at arrival for 42 countries and online visa for 7 countries.
- Due to Ankara Agreement, Turkish Citizens are allowed to start their businesses in Europe.
- Turkey has also the potential of visa-free travel to Schengen countries since it is a candidate country to the European Union.
- Turkey is a member of the E2 treaty which allows Turkish investors to obtain the E-2 Investor Visa.