Turkey citizenship by investment
Turkey’s Citizenship by Investment Program was recently launched in 2017 with the aim to boost the Turkish real estate sector by allowing direct foreign investment. The program is a newcomer to the citizenship by investment sector, but allows for flexibility for the applicant in choosing from different types of contributions to the Turkish economy. The program allows investors access to both the European and Asian markets, through a country that also has strong economic ties to the Middle East.
Summary of Main Advantages for Turkey Citizenship Program
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Requirements for a Citizenship Application
- Main applicant must be over the age of 18 to apply
- Applicant must hold a valid passport
- Applicant must not have a criminal record
- Applicant must be able to make the necessary investment
Different Investment Options for Turkey Citizenship by Investment
The main applicant must fulfill one of the following foreign investment criteria:
- Acquire immovable real estate property valued at a minimum of USD 400,000 (or equivalent). Applicants must hold the property through a title deed restriction on its resale for at least three years
- Make a minimum fixed capital investment of USD 500,000 (or equivalent)
- Deposit a minimum of USD 500,000 (or equivalent) into a Turkish bank account, with the condition not to withdraw the deposit for at least three years
- Commit a minimum of USD 500,000 (or equivalent) into government bonds, with the condition that they cannot be sold for at least three years
- Buy a minimum of USD 500,000 (or equivalent) of a real estate investment fund share or venture capital investment fund share, with the condition that they cannot be sold for at least three years
- Create jobs for at least 50 people
The application process for citizenship by investment in Turkey can be broken down into steps:
- Clients reach out to JH Marlin Law
- Initial due diligence checks are performed by JH Marlin Law
- Client agreement is signed with JH Marlin Law
- Applicants choose the qualifying investment option best suited to them with the help of our team
- Required documents are collected and prepared
- Residence permit application is submitted
- Main applicant opens bank account in Turkey and makes relevant investment
- Application for citizenship and corresponding documents is submitted to the government
- Interview may be requested*
- Application approved in approximately 120 days
- Citizenship documents are issued
- Passport application submitted
Frequently Asked Questions for Turkey Citizenship by Investment
Main applicants can include their spouse, any children under the age of 18, or any children aged 18 or older with a medical condition rendering them dependent.
The best option will depend on each individual’s unique situation, but Turkey has a wide range of investment options for its citizenship by investment program, which ensures an option suited to your needs. Many investors opt for the real estate option, as they will be able to collect rental returns on their property and avoid any effects on their investments by fluctuations of the Turkish lira.
No residency is required in Turkey as part of the citizenship by investment program. However, it is often easier to do the process by physically going to Turkey.
No, dual citizenship is allowed under the citizenship by investment program in Turkey.
Once the application for citizenship is submitted, approval takes approximately 120 days. The entire process can take between 3-6 months. The timeline varies on a case by case basis.
Like Canada and the United States, the Turkish passport must be renewed. In Turkey, passports must be renewed every 10 years.
There are many forms that need to be completed as part of the citizenship application process. When you become a client, JH Marlin Law will provide you with the application forms, documents and sample documents specific to your situation. We will help you with the entire citizenship application process. Applicants are required to have a valid passport, a valid national ID such as a driver’s license, a birth certificate, bank statements showing proof of source of funds, amongst other documents. Prior to making a submission of a citizenship by investment application, we will review in detail all the documents in advance to ensure that everything is correct.
The due diligence process entails doing stringent background checks on all applicants who apply for the citizenship program. Having a criminal record can be grounds for citizenship denial.
Turkey: General Information
Turkey is a transcontinental country bordered by three seas, offering connectivity to Europe, Asia and the Middle East, and making it a geopolitically strategic location. The central city of Istanbul serves as a cultural and economic hub shaped by centuries of rich history. Turkey is one of the most visited countries in the world and a popular tourist destination known for its great Mediterranean weather.
Population: 84.7 million
Languages: Turkish, English
Currency: Turkish lira
Economy: Newly industrialized
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