In recent years, Turkey has become a popular destination for those seeking a second citizenship or residency. One of the most attractive options for foreign investors is the Turkish citizenship by investment program, which allows investors to obtain Turkish citizenship by purchasing real estate in Turkey. In this blog post, we will explore the details of the Turkish citizenship by investment program and how it works.
The Turkish citizenship by investment program was introduced in 2018, and it has been a popular option for investors ever since. The program allows foreign investors to obtain Turkish citizenship by investing in real estate in Turkey. The minimum investment amount required for citizenship is $400,000, and the investor must hold the property for at least three years.
Advantages
One of the advantages of the Turkish citizenship by investment program is that it offers investors a relatively quick and straightforward path to citizenship. The process can take as little as six months, and investors can enjoy all the benefits of Turkish citizenship, including the ability to live and work in Turkey, travel visa-free to many countries, and access to the Turkish healthcare system.
Another advantage of the program is that it offers investors an attractive real estate market. Turkey is a country with a rich cultural heritage, excellent healthcare, lots of education options and a booming economy, making it an attractive location for real estate investment. The Turkish government has also made it easier for foreign investors to purchase property, with streamlined procedures and tax incentives.
If you are still wondering why you should invest in Turkey, check out this PDF guide prepared by the government of Turkey’s Investment Office.
Process
To apply for Turkish citizenship by investment, investors must first find a suitable property in Turkey and make a purchase. The property must be valued at $400,000 or more, and the investor must keep the property for at least three years. Once the property is purchased, the investor can apply for citizenship and provide proof of ownership and the investment amount.
Timeline
The application process for Turkish citizenship by investment is straightforward and generally takes between three and six months. Investors must provide documentation such as their passport, birth certificate, and police clearance certificate. They must also pass a medical exam and demonstrate that they have no criminal record.
Documents Required
The documents required for a Turkish citizenship application by investment in real estate include:
- Passport: A valid passport with at least six months of validity remaining.
- Birth certificate: A copy of the investor’s birth certificate apostilled, translated into Turkish and notarized. If any children under 18, their birth certificates also.
- Police clearance certificate: A certificate from the investor’s home country or any other country they have resided in for more than six months in the past five years, indicating that they have no criminal record.
- Marriage certificate: If the investor is married, a copy of their marriage certificate apostilled, translated into Turkish and notarized.
- Bank statement: Proof of the investment amount, which must be at least $400,000. This can be in the form of a bank statement or a transfer receipt signed and stamped by the bank.
- Property title deed: A copy of the title deed for the property purchased in Turkey, showing that it is worth at least $400,000.
- Valuation report: A valuation report for the property, prepared by a certified appraiser in Turkey.
- Health report: A health report from a Turkish hospital or clinic, indicating that the investor has no contagious diseases.
- Power of attorney: A power of attorney, allowing a lawyer or representative to apply for citizenship on the investor’s behalf.
It is important to note that all documents must be translated into Turkish and notarized. Additionally, the investor may be required to provide additional documents or information during the application process, depending on their individual circumstances.
Stages for acquiring Turkish citizenship by investment
The stages for obtaining Turkish citizenship by investment in real estate are as follows:
- Property purchase: The first stage is to purchase a property in Turkey worth at least $400,000. The property can be residential, commercial, or land, but it must be purchased by the investor and not by a company or a third party.
- Investment confirmation: Once the property has been purchased, the investor must obtain a confirmation letter from the Land Registry Office, confirming that the property is worth at least $400,000.
- Application preparation: The next stage is to prepare the necessary documents for the citizenship application, including the passport, birth certificate, police clearance certificate, marriage certificate (if applicable), bank statement, property title deed, valuation report, health report, and power of attorney.
- Application submission: The investor or their authorized representative can submit the citizenship application to the Directorate General of Migration Management (DGMM) in Turkey.
- Background checks and processing: The DGMM will review the application and conduct background checks on the investor. This process can take several months, during which the investor may be required to provide additional documents or information.
- Citizenship approval: Once the background checks are complete, and the DGMM is satisfied that the investor meets the eligibility requirements, they will grant citizenship by investment.
- Oath of allegiance: The final stage is for the investor to take an oath of allegiance to Turkey in front of a Turkish notary or consulate.
It is important to note that the timeline for obtaining Turkish citizenship by investment can vary depending on the individual circumstances and the efficiency of the application process. However, the process typically takes around three to six months from the time of property purchase to citizenship approval.
Conclusion
In conclusion, the Turkish citizenship by investment program offers a straightforward path to citizenship for foreign investors. By investing in real estate in Turkey, investors can enjoy all the benefits of Turkish citizenship, including the ability to live and work in Turkey, travel visa-free to many countries, and access to the Turkish healthcare system. With a booming economy and attractive real estate market, Turkey is an excellent location for foreign investors looking to obtain a second citizenship or residency.
If you are looking to get further consultancy on this topic of where to start, and how to go about doing this in a professional manner, don’t hesitate to drop me a message here.
