Turkish Citizenship Opportunity
Turkey is a geopolitically powerful country surrounded by the Mediterranean, Aegean and Black Seas on three sides. Connecting Europe and Asia, Turkey has great opportunities to develop business relations with many countries of the world and allows different cultures to live together. This makes Turkey an increasingly attractive destination for foreign investors. One of the most important reasons for this increased interest is the Turkish government’s innovative approach to citizenship.
The Turkish citizenship by investment program became operational in January 2017. The main goal of the program is to attract foreign direct investment and stimulate the growth of the country’s real estate sector. REI Property experts can assist you in navigating the Turkish citizenship by investment program established in 2017.
Why Choose Turkey?
Turkey's unique geography connects Europe with Asia, making it a hub for international trade and business. Over the years, Turkey has demonstrated robust economic growth, driven by a young and dynamic population. With a deep history and diverse culture, living in Turkey offers an unmatched blend of traditions, arts, and modern lifestyle. Compared to other European countries, the cost of living in Turkey is relatively low, ensuring a comfortable lifestyle for residents. The options for investment are diverse, ranging from luxury residences and commercial offices to land or plantations, and even hotels or tourist facilities. Given its well-developed infrastructure, ease of transportation, and tourism potential, buying real estate in Turkey allows you to both earn rental income and own an asset that will gain value in the future. Turkish citizenship provides visa-free or simplified entry to more than 110 countries.
How to Get Turkish Citizenship?
You must fulfill one of the investment requirements to gain citizenship. Buying a property with a cadastral value of $400,000 and above. Invest $500,000 in fixed capital. Open a deposit of $500,000 in a local bank. Opening a company and providing job opportunities for 50 Turkish citizens. At least $500,000 should be put into government bonds. Investing at least $500,000* in a real estate investment fund or venture fund share.
How to Obtain Turkish Citizenship through Real Estate Investment?
Real estate investment is the fastest way to obtain citizenship. The average time to obtain a Turkish passport for investors is 2 to 5 months. On May 1, 2022, in accordance with the amendment to the Regulation on the Implementation of the Citizenship Law, foreigners who purchase real estate with a cadastral value of $400,000 or more are granted citizenship.
The process of obtaining documents for a Turkish passport when buying real estate is as follows:
The applicant must collect and apostille the necessary documents in their country, including birth certificates, marriage certificates (if applicable), and education certificates.
In the second step, the documents must be translated into Turkish by a sworn translator and certified by a Turkish notary public.
Simultaneously with the preparation of the documents, the real estate that meets the conditions of the citizenship program must be found. This process can be organized remotely. You can find a suitable property with a reliable agency in Turkey.
Before buying a property, it is recommended to do a full due diligence on the property to make sure that there are no problems with the property or the title deed.
Real estate payments and property registration transactions are usually carried out through a Turkish bank.
To purchase real estate and subsequently apply for citizenship, you will need a Turkish tax number. This process is usually simple and quick and can be done through the nearest tax office.
Once the ownership of the selected property is registered, the investor receives a residence permit in Turkey.
The next step is to apply for citizenship. This does not require the applicant to be present in person as no interview is provided. The documents can be submitted by a trusted person such as a lawyer or representative.
