5 Different Ways To Get Turkish Citizenship by Investment In 2021

5 Different Ways To Get Turkish Citizenship by Investment In 2021

Turkish citizenship by property investment & Turkish residence permit by investment – Foreign nationals who do not work in Turkey but will make an investment in the country within a  certain scope and in certain amounts can acquire Turkish citizenship by investment, along with their spouse and children under 18. 

As per the recent regulations introduced, foreign investors who have purchased a real estate property worth a minimum of $250,000, their spouse, and children under 18 are eligible to apply for Turkish citizenship in exceptional ways. First, let us talk about Turkish citizenship acquisition by investment. To become a Turkish citizen through real estate investment, a foreigner must register an immovable property that is worth 250,000 USD dollars (or another currency equal to this figure) with the title deed registry, provided that there is an annotation declaring he/she will not sell this property in the first three years.

How to Acquire Turkish Citizenship by Investment

A foreigner can obtain Turkish citizenship by investment as long as they meet any of the conditions stated below:

  • Making a fixed capital investment that is worth at least $500,000
  • Buying a property that is worth at least $250,000
  • Employing at least 50 Turkish citizens
  • Holding a deposit of at least $500,000 in a Turkish bank
  • Buying a government bond that is worth at least $500,000 and keeping it for at least 3 years

Turkish Citizenship by Fixed Capital Investment

Turkish citizenship by property investment & Turkish residence permit by investment – To be eligible for applying for Turkish citizenship by investment within this scope, one shall make a capital investment worth a minimum of 500,000 USD or in another currency that is worth the stated amount. The government reduced the prior required amount that was 2 million USD to 500,000 USD. The capital investment made shall be confirmed by the Ministry of Industry and Technology.

The fixed capital investment should cover investment elements such as a building for providing goods or services, land, equipment, and machinery. Acquired real estate property alone does not bring the right to apply for citizenship. However, expenses beared when buying the property are regarded as a part of the investment. 

Turkish Citizenship by Real Estate Investment

Turkish citizenship by property investment & Turkish residence permit by investment – To be eligible for applying for Turkish citizenship by investment within this scope, one shall buy a property worth a minimum of 250,000 USD or in another currency that is worth the stated amount and register the property with the title deed registry, provided that they will not sell it within the first three years following the purchase. The foreigner shall pay the stated amount in advance and undertake they will not sell it in the first three years on the contract to be issued in the notary. The fact that the foreigner got the real estate registry annotated shall be confirmed by the Ministry of Environment and Urbanization. 

The real estate purchase brings some terms such as property ownership and construction servitude. Property ownership is the right to own a property whose construction has finished and whose occupancy permit is received, while construction servitude is defined as the proprietary right over a property that is still in the construction stage. Construction servitude is based on the share of the land and can be turned into property ownership following the occupancy permit. 

Turkish Citizenship by Providing Employment

Turkish citizenship by property investment & Turkish residence permit by investment – To be eligible for applying for Turkish citizenship by investment within this scope, one shall employ at least 50 Turkish citizens, which were priorly stated as 100 citizens in the law. The employment shall be confirmed by the Ministry of Family, Labor, and Social Services. Fully prepared applications will be examined within 7 workdays. If there is a lack of information or a document in the application, the applicants are given 30 days to fix their applications. 

Turkish Citizenship by Depositing in Bank

Turkish citizenship by property investment & Turkish residence permit by investment – To be eligible for applying for Turkish citizenship by investment within this scope, one shall deposit a minimum of 500,000 USD or another currency equal to the stated amount in the banks operating in Turkey, provided that they will keep the deposit for at least three years. The transaction shall be confirmed by the Council of Bank Audit and Regulation.

Foreign investors do not have to deposit the money in one bank. It is possible to apply for Turkish citizenship after depositing a total of 500,000 USD in shares deposited in different bank accounts. 

Turkish Citizenship by Buying Government Bonds

Turkish citizenship by property investment & Turkish residence permit by investment – To be eligible for applying for Turkish citizenship by investment within this scope, one shall buy a government bond that is worth a minimum of 500,000 USD or another currency equal to the stated amount and declare that they will keep it for at least three years. The transaction shall be confirmed by the Ministry of Treasury and Finance.

For determination of the above-mentioned monetary values, the selling rate or the cross exchange rate of the Central Bank of the Turkish Republic is taken as a basis. 

A committee created by the relevant Ministries evaluates the citizenship applications of the foreigners and submits them for presidential approval. The final decision is the President’s to be made. 

Receiving the eligibility certificate, applying for the short-term residence permit, receiving the residence permit card, and submitting the required documents for Turkish citizenship by investment is possible to be operated from abroad, without the need for the foreigners to be present in Turkey. Only at the final stage, the applicant and their family members should visit the closest civil registry.

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