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All You Need To Know About Turkey’s Citizenship By Investment

4 February 2021
All You Need To Know About Turkey’s Citizenship By Investment

Turkey announced its citizenship by investment policies in 2016. The policy states that any applicant who invests either in real estate or a bank deposit will be granted residency, citizenship, and a passport. There are six different ways to get a citizenship, turkey citizenship by investment being the simplest way. Want to acquire Turkish citizenship? Let's discuss the process.

The process to avail of Turkey citizenship by investment

  • After purchasing a place for housing, estate properties, or workplace, apply to The General Directorate of Land Registry and Cadastre. After the application, the real estate appraisers conduct a thorough check verifying whether the property purchased is worth $250,000 or not.
  • Once the process is verified, The General Directorate of Land Registry and Cadastre approves the citizenship process in 3-7 working days. To get permission for residence, apply to The Bureau of Immigration Services on the same day. There are chances you may get approval on the same day.
  • Along with the investor purchasing real estate properties, their spouses and children under the age of 18 can also be granted Turkish citizenship.
  • After the residence permit, the citizenship process is finalized in 30 days in Ankara and Istanbul.
  • You can also avail of the residency service in Turkey. However, you have to renew the permit every six months.

Turkey citizenship by investment program

turkish citizenship by investment program provides the following services to investors.

  • Travel to many countries without a visa.
  • Right to a residence.
  • Right to work and investment in Turkey without limitation.
  • Simple process for visa application to many other countries.
  • You do not have to necessarily speak Turkish to get a citizenship.
  • Your family can be included in the citizenship process.
  • Double citizenship in Turkey is available.
  • Turkey's medical and education system is sound and reliable. You can avail of these services freely.
  • Business opportunity increases with your citizenship of the State.

History of Turkey citizenship by investment program

Turkey, as a country, faced severe brutalities of terror attacks. Some major ones took place in 2016, also targeting the tourists. The ISIS and the Kurdish rebels were to blame for the damage that shook the entire country. Post these major crashes, Turkey witnessed a steady decline in the economy, and tourism came to a halt. The country's account deficit stood at $34 million. According to President Erdogan, approximately 2 million homes were unsold in the market.

The president shouldering the responsibility of the State couldn't afford that. At this point, many plots were sold to people from the Middle East who had immense wealth but average passports. They began the program of offering citizenship to people who invested in their State to recover from the recurrent losses.

The Middle East people were already looking for investments in properties and lands. Being offered the opportunity to invest in Turkey attracted huge investors because of Turkey's different positive facets.

The initial investment program started with- real estate purchase of at least $1 million with an investment of a minimum of $3 million. This became a golden opportunity for the Arabs.

Alternative methods to acquire Turkish citizenship

Other than acquiring turkey citizenship by investment, there are other methods to acquire citizenship. Acquiring citizenship by investment tops the list of the available methods. The other two are creating jobs and coming to the State for work purposes. Making a capital investment is another method to gain citizenship. Deposit a sum of $500,000 in a Turkish bank and avail Turkish citizenship and other services. Turkey offers multiple opportunities for investors to gain Turkish citizenship conveniently.

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