Turkey Investment Citizenship 2021 The Ultimate Guide by Experts | GCS

As a major transcontinental nation with a thriving economy, it’s easy to see why international investors are drawn to Turkey. With access to both European and Asian markets, foreign investors can tap into a wealth of business opportunities, with the added benefit of obtaining a Turkish passport — thanks to the Turkey citizenship by investment scheme.

In this Turkey investment visa guide, you’ll learn about:

• The investment program’s benefits

• How the whole process works

• A step-by-step guide to the Turkish citizenship application

• Fees for the citizenship by investment program

• Plus more!

What is the Turkey Citizenship By Investment Program?

Kickstarted in 2018, the Turkey citizenship by investment program was established to encourage foreign direct investment in the Turkish economy and stimulate the real estate market. The investment program invites qualifying applicants to invest in the nation, in exchange for lifelong citizenship.

As a country nestled between Europe and Asia—and ultimately of significant geostrategic importance for business — a Turkish passport provides visa free access to over 111 destinations worldwide, including Hong Kong, Japan, and Singapore. 

Turkey Citizenship Benefits

One of the key benefits of applying for Turkey’s citizenship program is that it takes about three to four months only for your application to be approved. You don’t need to worry about any formal interview or mandatory military service. Nor do you need to visit Turkey before, during the application process, or after. To top it off, with Turkish citizenship you can enjoy visa free travel benefits. 

With Turkish Citizenship, enjoy:

Visa free travel

Turkey has excellent connections to Europe and Asia. Along with a E-2 Visa treaty with the United States, with Turkish citizenship, you can apply for the E2 Visa USA, and unlock visa free travel to over a 120 destinations worldwide. 

Lifetime Turkish citizenship for all your family members 

The main applicant can include their spouse, dependent children below 18, and children of any age who are living with disabilities in their application. Have peace of mind knowing that your family members have access to the same Turkish citizenship benefits as you.

Eventual access to the EU 

Turkey is currently engaged in talks to join the European Union. Turkish citizens can enjoy eventual visa free access to the EU. 

Turkish passport

The Turkish Citizenship by Investment Scheme is one of the most attractive programs purely because it’s so straightforward to receive a Turkish passport. Have a passport in your hands within four months, with no minimum residency period required and visa free travel opportunities.

Eligibility Criteria

To qualify for Turkish citizenship, the main applicant must tick the following boxes:

• Be at least 18 years old
• Hold a clean criminal record
• Have adequate health insurance
• Have never overstayed illegally in Turkey
• Must make a lawful investment

Investment Requirements

The main applicant can choose from one of the following options listed below.

Real estate investment

• Make a minimum investment of $250,000 in real estate property or land (you can actually invest in multiple properties if you wish)

Other investment options:

• Make a bank deposit of $500,000 (or equivalent foreign currency or Turkish Lira), into a Turkish bank account, for a minimum of three years
• Contribute at least $500,000 (or equivalent foreign currency or Turkish Lira) into government bonds
• Make a minimum capital investment of $500,000 or (equivalent foreign currency or Turkish lLra) into a real estate investment fund share or venture capital investment fund share
• Create full-time jobs for at least fifty people, as stipulated by the Ministry of Family, Labour and Social Services

Black-listed nationalities: Armenia, Cuba, Nigeria, North Korea, and Syria.

Turkey’s Real Estate Market for Citizenship by Investment

There is a reason why the majority of foreign investors choose the real estate route for citizenship by investment. For a property investment of $250,000, you can acquire a second home or holiday home, and get a Turkish passport within a couple of months. It’s the cheapest route to citizenship by investment, with a relatively straightforward application process. The best part is, you can purchase a single property or multiple properties, with almost no regulations. You don’t even have to live in your purchased property.- The only condition is that you have to keep your property for three years, then you’re able to sell it.

1.Decide on your investment route

Will it be a real estate investment, a capital investment, or a financial contribution? Decide on your route first to becoming a Turkish citizen. If you go for property purchase to receive citizenship, first you’ll need to obtain your Certificate of Eligibility.

2.Gather all documentation

Collect all the necessary paperwork, perhaps with the assistance of an immigration lawyer, since a lot of documentation is needed.

3.Complete your investment and obtain your residence permit

You must first be a legal resident of Turkey before you can lodge your application for citizenship. Luckily this part is easy. Usually, after you’ve made your investment and provided proof, you’re automatically granted a residence permit. The best part is, there is no need to stay or even live in Turkey beforehand to become a resident, nor do you need to continue staying in Turkey after you’ve received it.

4.Submit your citizenship application

When you have your residency card in hand, you can submit your citizenship application to the Provincial Directorate of Census and Citizenship. You aren’t required to attend an interview or be in Turkey when your application is getting processed.

5.Receive your passport

Expect to receive your Turkish passport, valid for ten years, within three to four months from the date you lodge your application. 

The country has one of the fastest application processing times for its Turkish citizenship by investment program. The whole process takes around three or four months.

Document Checklist For the Investment Program

The documentation requirements for Turkish citizenship are extensive and can be subject to change at the behest of the Turkish government.  If in doubt about the documentation requirements, it is strongly advised to seek professional advice. A Turkey citizenship by investment specialist can offer more detailed information on the program requirements.

General documentation needed:

• Birth certificates of all the applicants
• Passports of each applicant
• Residence Proof (Recent utility statement)
• Biometric, colored passport photos of each applicant
• Applicant marriage certificate (optional)
• Death or divorce certificate of spouse (optional)
• Proof that all the applicants have a clean criminal record
• Proof of Health Insurance (valid in Turkey)
• Proof of investment of $250,000 into a Turkish bank account or lawyer’s client account
• Turkish Tax ID Number (necessary)

Investment specific documents

For property investment:

• Valuation report which needs to be accepted by the Capital Market Board
• Land Registry Certificate showing the complete ownership of the property or properties
• A valid private purchase contract from the developer

Fees

Application Entry Cost:

• Notary & Translation Fees ‐ $1,000 USD – For single applicant ($250 per extra applicant)
• Application Fee ‐ $400 USD
• Health insurance: $700
• Due diligence fee: none
• Passport fee: $500

If opting to buy property to receive Turkish citizenship, the following property transaction costs include:

• $250,000 in residential or commercial real estate property
• Land registry fee and stamp duty: 4-6%
• Legal fees: 1% of property purchase price + 18% VAT
• Title Deed Transfer – 4% of purchase price (Split between buyer and seller)
• VAT – 1 to 18% (Currently, you can apply as a foreign investor for VAT exemption)

Frequently Asked Questions About Turkey Immigration Investment