Several countries are encouraging foreign investment by offering citizenship by investment. The foreign individual requires making a medium-sized investment in the said country, and whoosh! It will open up the golden gates for him to become the country's citizen, even at concise notice. Turkey is one of those countries where any foreign individual can get turkish citizenship by investment process. All you need to do is make a particular investment in real estate, banking, or fixed capital. The government of Turkey has prepared these amendments to attract investors who are willing to obtain Turkish citizenship.
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Legislation applicable for obtaining Turkish Citizenship by Investment Process
The Turkish government recently amended the regulation of application for the Turkish Citizenship code. In reflection of this current amendment, the foreigners who fulfill any of the investment conditions have all the rights to obtain TC or Turkish citizenship for himself/herself along with their family. The needs of investment are stated below:
- Option A states that the minimum amount of 250k USD must be made in the sector of real estate or property investment. It also has an additional condition that says that the property should not be out under sale for three years. Initially, the amount was 1m USD, which has been reduced and brought down to 250k USD as per the recent amendment.
- Option B states that a person needs to deposit a minimum of 500k USD in cash or an equivalent amount in Turkish Lira for three years in any Turkish bank or financial institution.
The investor can obtain turkish citizenship by investment process and his family if any of the aforementioned options are met.
How much time does obtaining Turkish citizenship take?
Usually, the process of obtaining Turkish citizenship and get the passports in hand take around 3-6 months. The principal investor and his family will quickly receive the TC within this stipulated time if the supporting documents are ready and duly complied. The pre, as well as the post-investment works are done correctly. Once the paperwork is done, the other processes duly follow.
However, certain relaxations have been made by the law recently. According to it, the full turkish citizenship by investment process has come down to 60 days. Within sixty days, you and your family will be granted citizenship rights in Turkey.
What are the benefits of Turkish Citizenship by Investment Process?
Although it takes 60 days, the full citizenship rights are granted after a detailed background check followed by legal documents delivery, which takes 3-6 months on average. There are numerous reasons which make Turkey and appropriate choice for getting citizenship. Some of the most prominent reasons are described below:
- The investment allows you to have a substantial investment, which brings you a regular income and citizenship in the most strategically located place in the world.
- According to the new amendment, the Turkish passport allows the person to travel without a visa in 148 countries.
- No minimum residency is required.
- Having Turkish citizenship offers you the ability to own one of the most powerful passports in the world.
- The passport has a validity of years and can be renewed for life.
- Getting citizenship includes getting an identity card of the country.
- Citizenship rights also include free medical assistance for a lifetime. It also provides pension programs.
- You are not required to declare your wealth.
- Turkish law allows dual citizenship.
- Free Education and University Reimbursement Plans are offered.
In brief, it can be said that with turkish Citizenship by Investment Process, you can easily access in EU without a visa. Having the best climatic conditions, the country also offers a safe environment for families with a fantastic natural environment and excellent food options.
