Turkish Citizenship by investment is a program by the Turkish government to help people who meet the qualifications acquire the country’s passport. This qualification is not mainly based on how many years you have stayed in Turkey. However, they are looking for investors who can add value to the country’s Economy through investments.
Your gateway to living in turkey and enjoying delicious foods, visiting tourist destinations, relating with happy neighborhoods is sure with a passport. Not only will this passport usher you into a new world of rich lifestyle, it will open doors to many investment opportunities in turkey. Yes, there are plenty of developing areas where you can buy and sell real estate with good profits.
Even though I will mention more benefits of having a Turkish passport as we go on, living across the border with Asia and Europe has massive importance. Stretching from gaining easy access to Europe to transiting to any Asian country at will, every business person will love this.
When did Turkish Citizenship by investment start?
The Turkish government launched citizenship by investment in 2016 to attract more investors into the country. They plan to reward these investors with a citizenship, which is also very useful for those who wish to become Turkish citizens.
The main focus was for this investment to go into the real estate sector of turkey. However, as we go on, I will mention some other places you can invest your money and still stand a chance for citizenship.
The initial minimum investment that the Turkish government was asking for was about $1 million. Although, investors were not coming in since this amount is very huge. So, they had to make a tremendous reduction to just $250,000 in 2019. This move was attracting about $250 million every month into the Turkish economy from foreign investors. Now, they had to increase it a little more to $400,000; which is currently the minimum investment you must have in the country.
Documents required for Turkish Citizenship by investment
Those who wish to apply for Turkish Citizenship by investment must meet all this requirements:
- International passport: they should have a valid International passport and birth certificate
- Proof of residence: show proof that you have a place to live providing a statement of utility bills
- Passport-sized photos: provide a clear passport-sized photograph with no editing. Also, they you have to provide your biometric
- Marriage certificate: if you are married then you can provide this in order to accommodate your spouse in the citizenship. (provide death and divorce certificates when applicable)
- Proof of not criminal records: any statement from the police can be helpful in this case or you undergo a full background check
- Health insurance: provide an evidence of a health insurance that is valid in turkey
- Turkish tax ID number: you will receive this when you have an investment or business in the country
- Proof of $400,000 investment: provide evidence that you have made an investment worth about this amount in the real estate market or any other Eligible sector.
Turkish Citizenship by investment options
These are some options you can choose when seeking to acquire a Turkish passport.
#1. Real estate investment
Real estate in Turkey offers investors plenty of options when it comes to investment. With just $400,000 in investment, you can start your journey towards getting Turkish Citizenship. There are types of properties like villas, apartments, lands and others. Investors have the option to buy multiple properties in different locations of their choice and still apply for citizenship if the total cost amounts to $400,000.
When you buy real estate, it should not be sold out in 3 years if you wish to apply for citizenship. So, just register it after payment and manage it for the next 3 years to be able to qualify for Turkish passport.
2. Invest in job creation
This is not like the real estate investment option since it has different requirements. In this category, you have to create a job for a minimum of 50 Turkish citizens. This job has to be in a business or company you own in the country.
Instead of investing your money for 3 years in real estate, you can utilize this option if you own a good business since running a business is not easy.
3. Capital investment options
This option is available with its peculiar requirements and it’s also not the same with the real estate estate option. The minimum capital investment to qualify for Turkish Citizenship is $500,000. This investment is either going to be in any of this way:
- In funds shares
- In government bonds
- Deposit in a Turkish bank
Just like the first option, you also need to leave this investment for a Minimum of 3 years before qualifying to apply for citizenship.
Benefits of Turkish Citizenship by investment
There are many benefits of getting a Turkish passport. Starting from places you can visit to things you can do to make extra money.
You can live and work in turkey
Having this passport will give you equal opportunity with other citizens. You can begin to do any type of business while you enjoy the peace of living in this country.
Family reunification opportunities
When you obtain citizenship by investment you can bring into the country your parents, children and other dependents.
Dual citizenship
Becoming a Turkish citizen gives you access to holding dual citizenship as they don’t have problems with that. So, you can enjoy the benefits of your main country and plenty of other Turkish Citizenship benefits.
Visa free trips
A Turkish passport gives the holder access to enter many countries without a visa. You can enter Over 100 countries with just the Turkish passport, visa on arrival and online visas.
Frequently asked questions
Who can apply for Turkish Citizenship by investment?
Anyone who qualifies for the investment by either option can apply. $400,000 in real estate investment, $500,000 deposit in a Turkish bank or buying a bond worth a minimum of that amount can qualify you.
How much do I need to invest for Turkish Citizenship?
You need to have $400,000 in Turkish real estate investment to qualify for citizenship.
Conclusion
Turkish Citizenship by investment is the best way to qualify for the country’s passport if you can afford it. Although it’s not that much when compared to other countries, it’s still not small. However, with right planning, you can qualify and still have access to selling the real estate later.