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Why Should You Seriously Consider The Turkish Citizenship By Investment Program
The Turkish citizenship by investment program has seen an exponential rise in the past few years. Launched in 2017 to attract foreign investments, this program is one of the best ways to live, work, and settle in Turkey. More than 9000 foreign nationals have been naturalized to date and the numbers are set to grow.
There are many options from this program that will benefit the Turkish economy. Plus, the whole procedure takes only 6 months, and investors can add their spouse and children below 18 to the application. Additionally, you can also retain your original passport and enjoy the benefits of dual citizenship through the turkish citizenship by investment process.
What Is Turkish Citizenship By Investment?
Turkish citizenship by investment is a program set up by the national government to attract foreign investment. They do so by granting citizenship to people who invest a certain sum in the country through various pre-approved investments. There are similar programs in other countries to obtain citizenship through the investment route. For example, when you invest $1 million in Malta, you will get visa-free access to any country in the world. However, you will get immense turkish citizenship by investment benefits that are absent in other countries. Some general rules are the same everywhere like:
- You must invest in a pre-approved amount
- There are predetermined asset classes for investment
- You will receive a passport in
Turkish Citizenship By Investment
Why Is Turkish Citizenship By Investment Process An Excellent Option?
Why are global investors hankering for a Turkish passport? That’s because Turkey is a booming economy, close to Europe, and offers a stable investment environment. Plus, Turkey has stunning landscapes and is known as one of the finest tourist destinations. That’s why it is crucial to understand turkish citizenship by investment process before investing in properties.
Turkey is also a member of the G20 and NATO and a candidate for EU membership. It is a global powerhouse and the world’s 16th largest economy. But there are a few issues that you need to consider before investing in Turkey. For starters, Turkey’s troubling neighbor Syria in the South is a big headache for the government. Also, an attempted coup in 2016 shows that Turkey is a country where things can change quickly.
Nevertheless, turkish citizenship by investment family is an excellent program to reap the benefits of a booming economy and enjoy the awesome climate of the country.
Background Of The Turkish Citizenship By Investment Program
The lucrative Turkish citizenship by investment program was launched to cover a few incidents that started over four years ago. Some major terror attacks took place in 2016, and a few targeted tourists. The Ataturk International Airport incident on June 28th where 45 people died is a case in point. The Turkish government was already overwhelmed battling ISIS and Kurdish rebels, which added fuel to the fire.
The Turkish economy ground to a halt, and these incidents hit the tourism industry. Besides, there were almost two million unsold homes available on the market. So, this tumultuous background started to lure Middle Eastern investors.
The initial investment threshold was the investment of at least $3 million and real estate purchase of at least $1 million. However, the huge investment corpus initially did not attract many investors. But now, the government has drastically reduced the rates, which has paved the program’s success.
Highlights Of The Turkish Citizenship Program
Turkish citizenship by investment comes with many perks. You will access a rising economy and work with top real estate developers in Europe. Highlights of the Turkish citizenship program include:
- Husband, wife, and children below 18 will have access to Turkish citizenship and passport
- The citizenship is permanent and continues for a lifetime
- You don’t need any management experience, education, or language
- You can hold the property for three years and get immense
- You will get the right to live, work, and study in Turkey
- Your nominees will own the real estate in the event of your
- You will have the option of earning rental income through the program
- The investment comes with tax exemptions as directed by the ministry of tax
- You don’t need to be physically present in Turkey to obtain the
Turkish Citizenship By Investment
What Are The Recent Changes In The Turkish Citizenship By Investment Process?
There have been some recent changes in Turkish citizenship by investment process. So, foreign nationals looking to invest in Turkish properties must carefully understand and follow the new rules. While the new rules have reduced the corpus of capital investment, it has become more complicated. That’s why it is crucial to speak to experts who will help to simplify turkish citizenship by investment process.
- Earlier, you were not allowed to purchase property from But the current rule adds one more clause. Now, you can’t buy properties even from the spouse and children of foreigners.
- You will need to show that the property purchased has been bought only by Turkish If even one foreign national is involved in the property, it will reject the citizenship application.
- There shouldn’t be anybody from the buyers nationally during the buying So, you will need to check the partnership structure of the real estate owners before entering the deal because that will hamper the process of obtaining Turkish citizenship by investment.
- You can’t resale the purchased property to the same investor during the three It may start an inquiry from the foreign office.
- You can’t prearrange any property buying process from outside Turkey. That means there shouldn’t be any contract preceding the property If the Turkish authorities conclude that the transfer was prearranged, it will retroactively cancel your citizenship application.
- On paper, you will have to declare that there have been no fraudulent or underboard transactions during the settlement.
Turkish Citizenship By Investment
What Are The Various Ways You Can Achieve Turkish Citizenship By Investment?
You will find a dynamic, high-skilled, and young workforce when you look to invest in Turkey. Besides that, you will have low labor costs, a host of governmental benefits like tax exemptions and free land allocations.
There are many options for investors who want to invest in Turkey. Different investment opportunities are recommended according to how the investor arrives in Turkey. So, let us look at the different sectors that are excellent for simplifying Turkish citizenship by investment.
● Invest In The IT Sector
Turkey has witnessed a phenomenal rise in the IT sector in recent years. Besides, the government is providing impetus to technical and consulting services. World-class research centers, pioneering research programs are empowering technical prowess in the country. Moreover, the Turkish universities are attracting a steady flow of international students with strong technical backgrounds. The new citizenship program will help foreign investors to tap this booming market and reap rich rewards. You can look for opportunities to invest in software development, biotechnology, electronics, data processing, artificial intelligence, and call centers. Although many national and foreign companies operate in this sector, you will still find ways to enter the market. So, ease out your citizenship by investment process by sneaking inside the IT domain.
● Invest In Real Estate Turkey
Real estate Turkey is perhaps the most lucrative way to scale up your citizenship process. There are thousands of unsold properties in Turkey that you can purchase at affordable rates. Foreign investors who invest a minimum of $ 250,000 have the right to apply for direct citizenship, and most are usually granted within 3 months. Besides, the rising expat population has sparked a demand for luxury apartments in the city center and outside. So, you can invest in real estate and get turkish citizenship by investment benefits.
● Energy And Natural Resources
Currently, Turkey is facing an energy deficit of $130 billion, and the government is working hard to close the gap through regular investments. Moreover, there are loads of freebies like VAT exemption, custom exemption, tax discount of 40%, interest support, and others in this field. So, you can invest your capital in sectors like solar, wind, biogas, and geothermal energy and take advantage of the resources. It will also allow you to take advantage of turkish citizenship by investment family schemes.
Guide To Application Process For Turkish Citizenship By Investment
So, are you convinced that you must get a Turkish passport? Alright, so let’s now proceed to see how you can achieve it in practical terms. You can apply in person by staying in Turkey or hiring a lawyer to do it remotely for you. Whatever the case, you will need to complete much paperwork before obtaining Turkish citizenship by investment.
● Search And Buy A Property In Turkey
Start your Turkish citizenship by investment process by searching for a property. You must also open a bank account to purchase a property in Turkey. There are multiple properties for sale in Turkey, so finding one suitable for you won’t be a big issue.
● Obtain Eligibility Certificate
You will need to obtain an eligibility certificate to purchase Turkish citizenship by investment. It means you should fulfill all the requirements as mentioned by Turkish law. You will need to apply to the General Directorate of Land Registry and Cadaster of the Ministry of Environment and Urbanization. It is a comprehensive process, so you can contact a lawyer to expedite your case.
● Get A Residence Permit
You will need to be a legal resident to start your application for Turkish citizenship by investment. So, you will need to obtain a residence permit after making your investment in Turkey. Normally, this happens within a single day, making it one of the speediest processes in the world. What’s more, you don’t need to stay in Turkey during the process, and it remains only a formality.
● Put Forward Your Application For Turkish Citizenship By Investment
The last step in the leg would be to apply for Turkish citizenship by investment. You can submit your paperwork to the Provincial Directorate of Census and Citizenship immediately after receiving your residence permit. It means you can drop your papers and fly back home with the title deed in hand.
Expect a passport in the mail in the next 3-4 days. Plus, a Turkish passport is valid for 10 years, and there’s no real hurry to renew it.
Turkish Citizenship By Investment
What Are Your Options?
There are three options for obtaining Turkish citizenship by investment in a nutshell. Let’s go through them one by one:
● Make Real Estate Investments Worth $250,000
The program comes with a simple application process without any loops. Plus, you don’t need to be physically present in the country. There are some lovely properties in Turkey, ranging from apartments to luxury villas at competitive rates. You can expect an annual investment return of 8% after buying the property. You can also take loans for purchasing Turkish properties as the rates are quite low and come with good discounts for good repayments.
● Deposit $500,000 In A Turkish Bank
Deposit and keep $5,000,000 in a Turkish Bank for at least three years. Your Turkish citizenship by investment will be confirmed by the Ministry of Labor and Social Security. The country also benefits from this program to boost investment and shore up the lira. Therefore, it benefits both parties and scales up the country’s economy.
● Invest $500,000 In Funds
There are many turkish citizenship by investment benefits so that you can look forward to a rewarding life in the beautiful country. You can put $500,000 capital investment in capital or venture fund or set up a business and employ at least 50 people.
Top-Tier Investment Platforms For Turkish Citizenship By Investment
Are you looking to obtain Turkish citizenship by investment? Then it would help if you connected with top property dealers in Turkey online. There are many real estate dealers in the country, but only a few like Propertytr.com can help you understand the entire process.
Their high-ranking property dealers work with experienced agents who show you the best properties worth investing in in Turkey. So, what are you waiting for? Connect with the best property dealers like Propertytr.com and learn more about turkish citizenship by investment process.
