Turkey has gained tremendous popularity in the past few years. The reason behind it is not just its rich culture and heritage but also the strategic location. The country is located between Europe and Asia, which makes it healthy in terms of finance, the economy, and politics. Turkey holds an impactful image in the region, thus inviting many foreigners every year. Besides being an attractive tourist destination, Turkey is also a prime investment destination for investors and business personnel. People who are willing to own a passport for more than one country for securing the future of their family or themselves choose Turkey as their land. There are several reasons behind it, including the smooth government policies and easy method of getting turkish citizenship by investment law.
Back in the year 2018, the Turkish Government had launched a program: Turkey Citizenship by Investment. According to his amendment, any foreign investor can get Turkish citizenship and passport issued by the Turkish Government if he/she makes an active investment in the country, in terms of real estate or savings in a state bank. As per the program, any investor can obtain Turkish citizenship and passport if he meets any one of the below-stated conditions:
- The person needs to invest and acquire an immovable property like real estate for a minimum value of $250,000.
- The property in which the investment is made can be commercial, residential, or land that cannot be sold for a minimum of the next three years.
- The person should make a capital investment amounting to a minimum of $500,000 in any Turkish Bank for three years.
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What benefits does Turkish citizenship by investment law offer?
Once the investment is made, the principal investor, along with his family, can enjoy several benefits which include:
- Free medical and educational assistance in the world-class institutes of Turkey.
- Easy travel to around 148 countries of the world without any visa.
- Citizenship for a lifetime which can pass on the future generations.
- The option of getting annual rents if investing in some residential or commercial property.
- Future access to the European Union and the Schengen Zone without any visa.
What are the requirements to qualify for Turkish citizenship by the Investment program?
To qualify for turkish citizenship by investment law, the person needs to fit into the criteria mentioned below:
- Needs to have a valid passport from the country he/she belongs to.
- Should be over 18 years of age.
- He/she should not have any criminal records or should not be a threat to society.
- He/she can invest in the given sector.
If all of these conditions are met, the principal investor can easily include the dependent children and family members' names. However, they cannot add the name of the dependent parents to the application.
As per the reports, many foreign investors have made Turkey their home with citizenship in a fast few years. The nationalities who got citizenship by investment include Iraq, Afghanistan, Palestine, Egypt, Libya, Lebanon, Federation of Saint Kitts and Nevis, Saudi Arabia, Azerbaijan, Pakistan, Sudan, Russia, Algeria, and the USA. Apart from it, the investors who have acquired Turkish citizenship belong to countries, namely, Germany, Venezuela, Dominican Republic, France, Syria, Belize, Belarus, Poland, Antigua and Barbuda, Australia, United Arab Emirates, Grenada, South Africa, Canada, Union of Comoros and Ukraine.
turkish citizenship by investment law is much favored these days because it allows a willing investor to get hands-on all the country's rights. Also, once he/she becomes a Turkish citizen, they get free access to residence with additional medical and educational benefits. Being a strategically located country, it offers a great ground to aspiring business people to start up afresh and earn in a better way in a secure environment amidst the Middle East's conflicts.
