Turkey has become one of the most attractive destinations for people seeking dual citizenship or a new home. Its warm culture, strategic location, and booming economy make it an appealing choice. If you’re considering Turkish citizenship through investment, this guide will walk you through the process, benefits, and key details you need to know.
What is the Turkish Citizenship by Investment Program?
The Turkish government introduced its Citizenship by Investment (CBI) program in 2017 to attract foreign investors. By investing in Turkey, you can obtain citizenship for yourself and your family. The program offers a fast and straightforward path compared to many other countries.
Benefits of Turkish Citizenship
Here are some reasons why Turkey is a popular choice for citizenship:
- Visa-Free Travel: Turkish passport holders can travel to over 110 countries without a visa or with a visa-on-arrival.
- Dual Citizenship: Turkey allows dual citizenship, so you don’t need to give up your current nationality.
- Family Inclusion: Your spouse and children under 18 can also obtain citizenship.
- Access to Healthcare and Education: Enjoy Turkey’s affordable and high-quality public services.
- Investment Opportunities: Turkey’s growing economy and strategic location make it a hub for business.
Investment Options for Citizenship
To qualify for Turkish citizenship, you need to invest in one of the following:
- Real Estate Investment:
- Purchase property worth at least $400,000.
- The property must be held for a minimum of 3 years.
- Multiple properties can be combined to meet the investment threshold.
- Capital Investment:
- Deposit at least $500,000 in a Turkish bank or invest the same amount in government bonds.
- The investment must be maintained for at least 3 years.
- Job Creation:
- Create jobs for at least 50 Turkish citizens by investing in a business.
- Venture Capital Investment:
- Invest $500,000 in a Turkish venture capital fund or buy shares in a Turkish company.
Eligibility Requirements
To apply for Turkish citizenship through investment, you must:
- Be over 18 years old.
- Not have a criminal record.
- Meet the investment requirements and maintain the investment for at least 3 years.
- Pass a basic background check conducted by Turkish authorities.
Step-by-Step Application Process
- Choose Your Investment: Decide which investment option suits your goals. Most applicants choose real estate due to its stability and potential for returns.
- Make the Investment: Complete the necessary transaction, such as buying property or depositing funds in a bank. Ensure all documents are properly notarized and translated into Turkish.
- Obtain the Certificate of Conformity: Submit proof of your investment to the relevant Turkish authority to receive a Certificate of Conformity. This certificate confirms you’ve met the investment requirements.
- Apply for a Residence Permit: While your citizenship application is being processed, you can apply for a temporary residence permit.
- Submit Your Citizenship Application: File your citizenship application with the Provincial Directorate of Immigration Administration. Include all required documents, such as your passport, proof of investment, and photographs.
- Wait for Approval: Turkish authorities will review your application, conduct a background check, and issue your citizenship. The process typically takes 3-6 months.
Costs Involved
In addition to your investment, you’ll incur some additional costs, such as:
- Legal fees (optional but recommended for smoother processing).
- Property taxes and transaction fees for real estate purchases.
- Translation and notarization fees for documents.
Common Mistakes to Avoid
- Choosing the Wrong Investment: Make sure your chosen investment meets the program’s requirements.
- Incomplete Documentation: Ensure all documents are accurate and complete to avoid delays.
- Not Using Legal Assistance: Hiring an experienced law firm, like Bayraktar Attorneys, can help streamline the process and avoid costly mistakes.
Why Work with Professionals?
The Turkish citizenship process involves legal, financial, and bureaucratic procedures that can be overwhelming for first-timers. Bayraktar Attorneys specialize in Turkish Citizenship by Investment applications, ensuring every step is handled professionally. From selecting the right investment option to filing your application, their team can guide you seamlessly.
Final Thoughts
Obtaining Turkish citizenship through investment is a life-changing opportunity. With its rich culture, thriving economy, and strategic benefits, Turkey offers a promising future for individuals and families. By partnering with experienced professionals, you can ensure a smooth and successful application process.
Ready to take the next step? Explore how Bayraktar Attorneys can assist you with your Turkish Citizenship Application.