Turkey Citizenship by Investment
Turkey has become the preferred destination for citizenship by investment for its swift, easy and comparatively affordable process. An individual can get citizenship for oneself and his or her family in approximately 90 days. The overall cost is approximately 250,000 USD.
A Turkish citizenship through investment may also result in an investment with regular returns. Apart from this, Turkish Passport enables its citizens to Travel Visa Free or be eligible for Visa on arrival to approximately 100 countries. Attaining Turkish Citizenship also makes it easy to obtain residency in the United States via the E2 Visa route.. Unlike other residency programs, Turkey doesn’t have requirement for residency in Turkey or requirement of proficiency in the Turkish language. Turkey also allows for dual citizenship, therefore an investor doesn’t have to give up his or her primary citizenship when they get a Turkish Passport.
There are many ways of attaining Turkish Citizenship by Investment:
- Making a minimum fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira.
- Acquiring a property worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years.
- Depositing at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same for at least three years.
- Buying at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years.
Process for obtaining Citizenship by Investment for Turkey
- The first step is evaluating the best mode of investment and selecting the most suitable option. Main applicant may also add his/her spouse, children under 18 years old, and disabled children of any age. This can be done with basic research in a couple of days.
- The second step has two parts which is documentation and completion of investment. Documentation includes preparation documents such as passport, photographs, birth certificate, residence permit/visa, marriage certificate, & birth certificates of children (if applicable), tax receipt and investment completion documents, among others. For completion of investment the applicant must open a Turkish bank account and do the necessary transfers related to real estate title deed transfers, cash deposit, government bond/share purchase etc. Completing this process usually takes an estimate of 30- 60 days.
- The third step is application of residence permit and citizenship application. An Applicant should have a valid residence permit at the time of their citizenship application. The applicant may continue to live abroad if they wish. A residence permit would be issued on the day of application. The investor can apply for citizenship as soon as the residence permit is granted. The process usually takes around an estimated 30- 60 days.
- Once the processing time of about 30-60 days is over, the applicant will receive their passport along with Turkish citizenship.
Advantages of Turkish Passport
- Access to visa- free/visa on arrival travel for approximately 100 countries.
- The Turkish passport is considered among the top 50 in the world.
- There is no minimum required residency in Turkey for citizenship.
- Knowledge of Turkish language is not required.
- There is a full and free medical assistance for life, which includes all family members.
- Applicant is not required to declare their wealth when applying under no taxation on abroad income or assets.
- Turkey recognizes and allows dual citizenship.
- No Military Service is required for main applicants.
- The convenient geographical location is ideal for businesses to tap export opportunities. As well as grow and expand in diversified markets and products.
Increased/ Expedited Access to the United States of America & United Kingdom:
- United States of America: Turkish Citizenship is one of the easiest and most affordable paths into the USA. Turkish passports holders are eligible to apply for an E2 Treaty Trader Visa to the United States. There is no minimum prescribed investment amount for the E-2 program. Even though the E-2 is a non-immigrant visa, it still allows the investor, their spouse, and children below the age of 21 years to live in the US long term. It is valid for five years and renewable in two-year increments, as long as the program requirements are met. Additionally, Turkish citizens are also eligible for the United States E-1 Visa Program, which enables Turkish citizens to gain access to the USA for the purpose of conducting trans- national trade. While it does not grant permanent residency, it does serve as a method to stay long term in the USA with family. The process for obtaining E2 visa is comparatively quicker than other visa categories and does not require employer sponsorship.
- United Kingdom: Turkish passport holders can gain access to the United Kingdom by applying for a Turkish Business person Visa. Under the European Community Association Agreement (ECAA), also known as the Ankara Agreement, Turkish citizens can apply for a UK visa on the basis of viable self-employment, or by joining an existing business in the UK as a worker. Once settled, residents can become eligible for UK Permanent Residency and Citizenship within 5-6 years(approx.). Applicant can apply for UK visa through this route as soon as Turkish citizenship is granted. A visa approval usually takes an estimated 1-2 months.
Disclaimer: The above information is not legal advise. Global Immigration Review does not guarantee the accuracy of the information provided above. It is recommended that readers appoint an attorney or a service provider to file their citizenship by investment application. For up to date information refer to the appropriate government website.