Turkish Citizenship by Investment Process and Guide
Turkey is a big transcontinental country with a strategic location and three seasons its borders. Turkey’s position as a significant tourist destination allows connectivity with important markets via good transportation links. Even though Ankara is Turkey’s capital, Istanbul is the country’s largest and most important business and cultural center. The citizenship possibility has become even more appealing since the minimum investment amounts had been decreased in 2018, and the entire procedure may now be completed in 2 – 3 months. Citizenship is also given to the applicant’s dependent family members, with no obligation for family members to make separate investments.
- Holders of Turkish citizenship through investment have access to the following benefits:
- Permanent residence permit
- In Turkey, you have a permanent right to work and invest with no restrictions.
- Many nations provide visa-free travel.
- The straightforward evaluation procedure for visa applications to a variety of nations.
Following selecting the suitable investment choice, a residence permit application will be submitted on behalf of the family. After that, the principal applicant must create a bank account in Turkey. Then, the investment can be finalized and the paperwork submitted to the government once all application documents (including necessary certifications and translations) have been created. After the government receives the application, the screening process will begin, and an interview may be required. Citizenship documents are usually issued six to nine months after the application has been accepted. After that, you may submit your passport application.
What are the Advantages of Having Turkish Citizenship?
- There is no minimum residence requirement in Turkey.
- Medical aid is included in the price.
- There are pension plans accessible.
- Programs for free higher education and university reimbursement are available.
- The Turkey Passport offers visa-free travel to more than 110 nations and 72 countries worldwide, including Japan, South Korea, Indonesia, Qatar, and other countries. Kuwait, Bahrain, and South Africa are approximately 42 nations that provide visas to Turkish citizens upon arrival in the target country. In addition, tickets may be applied for immediately over the Internet (Online) in nearly seven countries, including Australia and Oman.
- Future visa-free travel to the EU and Schengen nations.
- A sound investment that pays out in the form of rental income.
How to Apply for Turkish Citizenship by Investment guide
1. Get a Turkish Tax Registration Number
In Turkey, a tax number is required for every registration and financial transaction. All Turkish citizens’ ID numbers are also their tax identification numbers. Individuals are issued a ten-digit number known as a Tax Identification Number.
Because their residency permits and other administrative processes may not be readily available when they arrive, students, visiting teachers, researchers, or family members will benefit from having a Tax ID number. Paying the price for a residency permit card, for example, necessitates the use of an official ID number.
It will enable you to establish a bank account, get health insurance, and numerous complete procedures in Turkey. In addition, you will have your foreign ID number and no longer need to utilize your Tax ID number after getting a residency permit. There are two methods for applying.
Option number one: application on the internet
What exactly do you require?
- Your phone number in Turkish
- Copy of your passport in digital format
Option two is to apply in person.
To apply for and get a Tax ID number, you must go to a Tax Office with numerous papers.
What you’ll require:
- Your travel document
- Copy of your passport’s ID page
- Form for obtaining a tax ID that has been completed and signed
2. Open a bank account in Turkey
After getting your residency permission card, you can establish a bank account. Obtaining a foreign ID number is required to create a bank account that offers financial services such as credit cards, internet shopping, ATM usage, etc. The number of your foreign ID is listed on the back of your residence permit card.
You can do so at a few institutions if you need to create a bank account right away before getting your residence permit. Banks that make accounts without a residency permission card may request deposits in this scenario. This rule may differ from one bank to the next. As a result, we advise you to wait for your residency permission before opening a bank account. You can establish a bank account at any bank in your neighborhood if you present the necessary documents:
- Copy of your residency permit
- Your travel document
- A housing-related document (it can be your rental contract, a utility bill in your name, or a copy from the Housing Department)
- A KU ID card or a Certificate of Enrollment (Extra, not a must but will expedite the process)
Please obtain a queue number from the ticket dispenser that offers an English option when visiting the bank.
3. Pick a property with a value of at least USD 250,000.
A minimum of USD 250,000, or the equivalent in another foreign currency, or Turkish Lira, is required for land registration, as long as an explanation that the property would not be sold for three years is included. After the foreigner has paid at least USD 250.000 or the equivalent in another foreign currency or Turkish Lira in cash for a condominium or condominium servitude, the contract shall state that the property cannot be transferred or abandoned for a (three) year term. The Ministry of Environment and Urbanization must decide on the registry’s explanation.
The most frequently asked questions regarding getting Turkish citizenship through the purchase of real estate:
- Is it possible for a foreigner who owns more than one Turkish property worth $250,000 to seek Turkish citizenship?
- Under the current changes, a foreigner who owns real estate worth more than ($250,000) is eligible for Turkish citizenship. It doesn’t need to be a single property?
- Is citizenship just awarded to the property owner or him and his family?
- The property owner and all members of his family under the age of eighteen are awarded Turkish citizenship?
- Is there a particular currency that must be used to purchase a home in Turkey and obtain Turkish citizenship?
- According to the ruling, a property must be worth at least ($250,000) in US dollars or equivalent in foreign currency?
4. Buy the property in Turkey
In 2018, 40,000 houses were acquired in Turkey by immigrants from a variety of nations. This trend is expected to continue in 2019, with industry sources forecasting yearly sales of 50,000 houses. Buying property in Turkey is a big investment. Still, you need to evaluate each location to see what drives sales and how much future potential there is to maximize your financial portfolio. For more information, click here ( best cities to live in turkey)
- What are the procedures to become a Turkish property owner?
- Communicate with a reputable real estate firm and ensure that you fully comprehend the new selections. Here we can help you with that.
- Discuss the specifics of the property that best suits your requirements and budget.
- Inquire about the qualities you’re searching for in a home in Turkey.
- Take a field trip to see the project in action.
- Follow up with your real estate business on legal concerns.
Finding the right property is significant, Here you can take a look at our options
5. Obtain a Certificate of Conformity
Exporters and importers are issued a certificate of conformity to prove that their acquired services match the country’s requirements. Usually, this document is required to be submitted at the time of customs clearance. The primary purpose of requesting these certifications is to meet a legal need for obtaining authorization to engage in an activity or complete a commercial transaction. They’re trendy in the real estate and public utility industries.
You must apply to the Directorate of Land Registry, linked to the Ministry of Environment and Urban Development, for citizenship by purchasing the real estate.
- Bank receipts proving that the selling price of the real estate has been transferred to the seller are needed documents for a real estate certificate of conformance.
- Report on real estate value
- The promise “will not be sold for three years” must be written on the title deed.
6. Apply for Turkish Residency
A Turkish Residence Permit allows you to stay in Turkey for more than three months in a half-year for reasons such as settlement, job, or education. A residency permit will enable you to live, study, marry, convert to a Turkish driver’s license, obtain a tax number, establish a bank account, buy property, invest, and much more in Turkey. If you’re moving to Turkey to work, all you’ll need is a work permit that also acts as a residency permit.
You can apply for one of the following residence permits depending on your visa type, the purpose of your application, and the length of time you want to spend in Turkey:
Short-term residence permit
Among all residency permits, the Turkish short-term resident license is the most sought after. This residency permit can be used for any of the following purposes:
- Engage in an in-service training program for educational or similar objectives as part of student exchange programs
- Get medical treatment provided you do not have one of the diseases deemed a hazard to public health;
- Attend Turkish learning courses
- You are a Turkish Cypriot.
Family residence permit
Families of Turkish nationals can apply for a family residence permit. The sponsor must be able to support the applicant.
Student residence permit
If you want to enroll in elementary or secondary school in Turkey, you can apply for a student residency permit. You won’t need this if you already have a family dwelling permit.
Long-term residence permit
You can apply for a long-term Turkish permit with unlimited validity if you have lived in Turkey for at least eight years continuously on a residence permit issued by the Turkish authorities.
Humanitarian residence permit
Assume you are in Turkey without a valid visa or residency card but have not been deported. In that case, you are awaiting deportation, or you are unable to return to your home country due to an emergency, you can apply for this residence permit.
Residence permit for victims of human trafficking
You can apply for this residency visa if you are a victim of human trafficking in Turkey.
To apply for a Turkish residence permit, you must go through several steps. Don’t forget to apply for a residence permit within one month of your arrival in
Decide on the type of residency permit you want and fill out the online application at https://e-ikamet.goc.gov.tr/.You must include your full name and surname, birth date, parents’ names, nationality, and contact information.
Then go to the “Central Appointment System” website and schedule an appointment with the Directorate General of Migration Management’s closest office. You will be required to fill out a form with your personal information and your address in Turkey.
Then you’ll be given the address of the nearest DGMM office, as well as a list of the needed papers, appointment dates and hours, and the application and card price that you must pay.
Document required for Turkish Residency :
- Residence permit application form.
- Four biometric photographs.
- Original passport.
- Notarized passport or travel document copy
- Proof of adequate and sustained financial resources. Each month you spend in Turkey, you must have at least €500 in your bank account.
- Evidence of Health Insurance.
You may be required to provide extra papers depending on your condition, the kind of residence permit you are asking for, and your nationality. Make sure that you submit them all on time.
7. Apply for the Turkish Citizenship by Investment guide
In 2016, it was stated that Turkey would provide citizenship to anybody who put money into the country. The Turkish government initiated a scheme in late January 2017 to encourage foreign direct investment and strengthen the country’s real estate market.
The investor can choose from a variety of ways to contribute to Turkish society under this scheme.
- The primary candidate must be at least 18 years old to be eligible for Turkey citizenship by investment program.
- It’s unlikely that you’ve ever remained in Turkey illegally.
- PayiI is paying the process’s taxes and expenses.
In addition, the individual must have the following pattern to be considered for the program.
- All candidates’ birth certificates are required.
- Each applicant’s passport
- Proof of Residency (Recent utility statement)
- Each applicant’s biometric and colored passport photographs
- Certificate of Marriage (optional)
- spouse’s death certificate or divorce certificate (optional)
- Proof of each applicant’s lack of a criminal record
- Proof of Medical Coverage (valid in Turkey)
- Proof of a $250,000 investment in a Turkish bank account or a lawyer’s client account.
- Turkish Tax Identification Number (necessary)
You can bring your spouse, dependent children under the age of 18, and children with impairments of any age.
Documents needed for Turkish Citizenship?
1. Marital Status
The legal definition of marital status is the state of being married. Single, married, widowed, divorced, separated, and, in certain circumstances, registered partnership are all examples of marital status. Never married people are those who have never married in accord following.
Quantitative research questionnaires like census forms and market research tools ask for civil status. For example, C’s civil status is quantitative and qualitatively relevant to a person’s medical history. In addition, a government uses a civil registration system to keep track of its people’s civil status. In the past, questions about marital status have appeared on job applications, loan applications, and credit applications.
2. Copy of Birth Certificate
A birth certificate serves as legal documentation of one’s birth. The term “birth certificate” can refer to either the original document attesting to the circumstances surrounding the delivery of a certified copy or to the subsequent registration of the birth. A birth certificate or other official document stating the date and place of birth, such as a copy of the civil register translated and verified by the Turkish Consulate or a notary, is one of the papers required for Turkish citizenship.
3. Biometric photos
A biometric picture must meet the following requirements:
- It should be no older than a month.
- It must be printed in full color.
- It must be printed on plain white picture paper with no borders, including four biometric photographs.
5. Receipt of Wire Transfers
When the billing party requests a bank wire for a specific amount of money, they send a wire transfer. The invoice will include the amount owed for the items or services provided and request payment through wire transfer. The transfer notification should be for a sum of at least 250,000 USD. It should be made straight from the personal buyer account to the seller’s account, without delegates or intermediaries. Suppose the bank account holder’s name is not the same as the property owner’s name. In that case, you must seek a document clarifying the relationship between the two words (if a landowner is different from the construction company through which the sale is made).
A description of the reason for the transfer should be included in the notice (purchase of the real estate). The issuing authority should certify the transfer notification (the bank).
6. Proof of Address / Certificate of Residence
The proof of residence letter is an affidavit produced and signed by another person that certifies that a particular individual is a state resident or has a postal address in the state. This is frequent when people apply for government jobs, insurance programs, or jobs that need them to show that they reside where they say they do.
What papers may I use to prove my residency?
The following documents may be used to prove residency :
- Form for obtaining a residence permit.
- There are four biometric photos.
- Authentic passport.
- A copy of the passport or travel document that has been notarized.
- Evidence of adequate and long-term financial resources for the duration of the stay.
- Evidence of Medical Coverage
7. All application forms filled in
On an application form, what information should I include?
- Form for a preliminary examination ( a standard form VAT-4)
- Turkish translation of the applicant’s passport identity registration copy
- The applicant’s birth certificate
- Valid residence permit received through the process are documented by marital status.
- Receipt slip for payment of applicable service fees
8. Power of Attorney granted
- You may purchase any home for USD 250,000.
- A deposit of at least (500,000)USD at a bank.
- Purchase of government securities starting at (500,000)USD
- Purchase of government bonds in the amount of (500,00)USD with a three-year asset preservation requirement.
- Create at least 50 employment or start a firm with a capital of (500,000)USD.
Other ways to receive Turkish Citizenship by Investing?
- Purchase real estate worth( 250,000) USD; you can buy any property.
- A deposit in a bank of (500,000)USD or more.
- Purchase of national securities from (500,000)USD
- Purchase government bonds in the amount of (500,00)USD with an obligation to preserve assets for three years.
- Open a business with a capital of (500,000)USD or create at least 50 jobs.
What are the Advantages of Investing in Turkey?
Foreign direct investors may benefit from the same possibilities as local investors. Direct investment is made through establishing branches, businesses or partnering with existing enterprises. However, there is no incentive to purchase stock or bonds. As a result, only long-term direct investors may utilize the state’s services. The Advantages are :
- Improved and Thriving Economy
Turkey’s economy was on the edge of collapse as the 21st century started, but it has rapidly improved since 2002.GDP, the country’s most important metric, increased from 231 billion to 820 billion dollars over this time.
- The Increase Rate of Youth Population
When it comes to investing in a place that requires skilled youngsters and trained workers, Turkey’s youthful population surpasses other European nations. Moreover, Turkey is Europe’s most populated country, with more than half a billion people, ensuring that any investor launching a business in Turkey would not face labor shortages.
- Skilled and Competitive Workforce
According to the Turkish Statistical Institute, Turkey has 29 million young people, including trained and certified employees. In addition, around 600,000 young people and 700,000 graduates from secondary schools, institutes, and vocational institutions graduate from about 200 universities each year. Those qualified for employment, fostering a competitive climate that encourages workers to be creative and perfect their craft.
- The flexibility of the Investment Atmosphere in Turkey
Many nations have hurdles to detecting foreign investments, but Turkey, a member of the Organization for Economic Co-operation and Development (OECD), started erecting such barriers in 1997. Today, Turkey has reached a point where a business is formed every six days, and the government treats all investors equally, fostering a competitive atmosphere.
- The Infrastructure
One of the most important motivations for foreign investors to invest is to offer the required infrastructure for investment and lower transportation costs. As a consequence, Turkey’s basic infrastructure has boomed, attracting foreign investment.
- The Perfect Geographical Location
A natural link between Asia and Europe, Turkey’s important placement between the two continents. In addition, Turkey has welcomed numerous business connections between the East and the West due to its geographic location.
- Largest Power Plant and Terminal in Europe
Turkey is a prominent actor in the Asia-European energy trade. It aids in the transmission of energy from east to west and the movement of cash from west to east.
- Low Costs of Taxation in Turkey
The institutional profit tax on foreign investors has been cut from 33% to 20% to encourage them to invest in Turkey. Foreigners may be exempted from this tax in several cases. Investors can also engage in state efforts like land distribution and incentive schemes.
- Membership in the European Customs Union
Economic possibilities and activity are intended to be expanded by the European Customs Union. Turkey has been a member of this customs union since 1996, and the members of the association have signed 20 free trade agreements. Through the signing of new contracts, these commercial connections are growing every day.
- Large National Markets
According to data from the Turkish Statistical Institute, the number of Internet users has increased from 100,000 to 33 million, the number of mobile users has increased from 23 million to 70 million, the number of borrowers has risen from 16 million to 58 million, and the number of borrowers has been increased from 16 million to 58 million since 2002. Furthermore, mobile phone users have been increased from 33 million to 131 million.
How long does it take to obtain Turkish Citizenship by investment?
Citizenship in Turkey is awarded after 3-6 months of investment by the applicant. The candidate must make a three-year commitment to the investment. The fastest way to get Turkish citizenship is to invest in the country. For example, after investing $250,000 in real estate, you may apply for a Turkish passport and receive it in less than two months.
Do I Need to Learn Turkish to Get a Turkish Passport?
You do not need to study Turkish to obtain a Turkish passport; instead, you may get a Turkish passport by capital transfer, with a minimum capital commitment of $500,000. For example, the transfer might be made as a deposit in a Turkish bank, a government bond contribution, or a fund share investment.
How many countries can I travel to with a Turkish passport?
According to the Henley Passport Index, Turkish citizens had visa-free or visa-on-arrival access to 110 countries and territories as of January 5, 2021. However, many nations need a visa but give it to Turkish residents on lenient terms. In the context of the negotiations and international agreements between Turkey and the EU, it is expected that if Turkey joins the EU, Turkish citizens will have significant advantages in obtaining a Schengen visa to enter European countries, which could lead to future negotiations to grant Turkish passport holders visa-free access to European countries.
How to Get Turkish Citizenship for Spouse and Children?
Your spouse (husband or wife) and dependents (children under the age of 18 at the time of application) are eligible for citizenship. Same-sex marriages, polygamy, and other forms of relationships are illegal in Turkey. As a result, a spouse must be of the opposite sex, and the pair must be lawfully married. In addition, only one of a man’s wives is eligible for Turkish citizenship if he has more than one.
How long is Turkish citizenship?
To buy expensive real estate in Turkey, you must become a Turkish citizen in 5 years (can be anything as long as the Tapu name title stays in your name) and obtain the 2-year Touristic residence permit ID card purpose to wait for real estate ownership, and extend the residence permit consecutive under the same meaning three years, and does not require mandatory or continued stay in Turkey. Turkish passport is issued after five years.
Does Turkey give permanent residency?
Yes, the criteria for permanent residency in Turkey must be considered before applying, according to the following regulations:
- The permanent residency permit is issued on Turkish territory with the Ministry of Interior’s approval to a foreign resident who has lived in Turkey for eight years without interruption.
- According to Article 38 of the law, eight years are tallied without interruption. Therefore, half of the student residence permit’s length is calculated, and the remaining permit durations are considered in full.
- Has not received any form of social aid in the last three years.
- The resident must be able to make enough money to support himself and his family regularly.
- A legitimate health insurance policy is required for the residence.
- Public order and security should not be jeopardized.
Is it mandatory to live in Turkey to obtain Citizenship?
No, you do not have to be a permanent resident or have lived in Turkey continuously for a specific amount of time to be eligible for citizenship. As soon as you have your residence permit, you can continue to live abroad and seek citizenship.