Getting a Turkish Citizenship by Investment

Turkey announced its citizenship by investment program in 2016. It grants residency, citizenship and a second passport to applicants investing either in real estate or a bank deposit. The real estate route is particularly attractive for investors. This requires a property purchase of a minimum of $250,000 + fees, making Turkey one of the lowest cost citizenship by investment programs on the market. The real estate investment amount was originally set at $1 million but was drastically reduced in September 2018.

A Turkish passport allows visa free travel (or visa on arrival) to 114 countries worldwide. Turkey also holds out the possibility of eventual visa free access to the EU. Currently, talks are ongoing, although Turkey has some way to go in order to meet EU conditions.

Turkey holds some good global connections. They have an E-2 Visa treaty with the USA, which means Turkish citizens are eligible to apply for US residency, through the E-2 Visa program. Thanks to Turkey’s Ankara agreement with the UK, it is also possible for Turkish citizens to apply for a UK business visa through the Turkish Businessperson Visa program.

Those who have purchased a minimum 250.000 USD worth of housing, workplace, estate or similar properties, can initiate their application process by going to The General Directorate of Land Registry and Cadastre. After the application to The General Directorate of Land Registry and Cadastre, real estate appraisers check if the purchased property is worth 250.000 USD or not.

A Turkish passport allows visa free travel (or visa on arrival) to 114 countries worldwide. Turkey also holds out the possibility of eventual visa free access to the EU.

If no impediment is found, The General Directorate of Land Registry and Cadastre approves the transition to the citizenship process in 3 to 7 days. After given this approval, by applying to The Bureau of Immigration Services for the residence permit, it is possible to get the permission in the same day.

After the citizenship application approval and the residency permit, candidates apply to The General Directorate of Civil Registration and Nationality for the Turkish citizenship. After that point, by tracking the transactions from Citizenship Information Offices? In Istanbul and Ankara all process is finalized in 30 days.

The real estate route is particularly attractive for investors. This requires a property purchase of a minimum of $250,000 + fees, making Turkey one of the lowest cost citizenship by investment programs on the market.

Real Estate Evaluation

The property must be evaluated by accredited persons from the Land Registry and the Turkish government, The real estate evaluator will write a full report to the property department and attach all legal licenses to the building or project, the number of apartments per floor, external and internal pictures and the dimensions of the property in which the estimated value of the property is mentioned with a condition that it is not less than $250,000 as mentioned.

Full value documentation by wire transfer

If a real estate is bought from a construction company or from the owner, the full purchasing value must be recorded on the title deed and the amount must have been transferred by bank transfer to the seller so that these bank receipts are attached to the title deed file.

Agreeing not to sell within 3 years

Before issuing the title deed, a request must be made to set the condition of not selling the property for a period of no less than 3 years, which is called the Turkish language “Şerh” and means undertaking of not selling the property before this period.

Also there are other ways to invest in Turkey and get a citizenship.

1. ​Deposit Account at Turkish Bank

Depositing at least 500,000 USD or equivalent foreign currency or Turkish lira in any bank(s) operating in Turkey with the condition not to withdraw the same for at least three years (attested by the Banking Regulation and Supervision Agency)

2. Fixed Capital Investment

Making a minimum fixed capital investment of 500,000 USD or equivalent foreign currency or Turkish lira (as attested by the Ministry of Industry and Technology)

3. Government debt instruments

Buying at least 500,000 USD or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years. (Attested by the Ministry of Treasury and Finance)

4. Real estate investment fund / venture capital investment fund

Buying at least 500,000 USD or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years (attested by the Capital Markets Board of Turkey)

​Before issuing the title deed, a request must be made to set the condition of not selling the property for a period of no less than 3 years, which is called the Turkish language “Şerh” and means undertaking of not selling the property before this period.

5. Employing 50 People

Creating jobs for at least 50 employee (attested by the Ministry of Family, Labor and Social Services)

There are some important points to get your citizenship that we will mention.

• Once can invest not only in residential properties but also in different types of real estate such as offices or stores in order to become a Turkish citizen.
• Investing in only one real estate is not necessary. Investors can purchase multiple properties that is worth a minimum of $250.000 when combined together.
• While the investors wait for the process to finalize, they and their family members are given temporary residence permit.
• Not only the investor but also their spouse and children under the age of 18 or children with disabilities obtain Turkish citizenship.