Residing in Turkey means enjoying a magnificent landscape, being surrounded by the sea, eating delectable food, and being welcomed by friendly neighbors. Compared to citizens of many other nations, Turks lead an active and luxurious lifestyle. Turkey also has a vital geostrategic role because it is on the border between Europe and Asia.
Who wouldn’t want to relocate to this Eurasian nation with all of these advantages? Not to add that entering Turkey is no longer difficult according to the most recent Turkish citizenship programs. Following the enormous success of the residence schemes in Spain, Portugal, and Greece, the Turkish citizenship by investment program gained popularity. Additionally, Turkey’s role as a gateway to markets in Europe and Asia is the main factor motivating foreigners to apply for an investment visa.
But how to get it? You can find here all the relevant information and facts related to obtaining citizenship through investment in homes for sale in Istanbul.
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What Is Turkish Citizenship By Investment Program?
In 2016, Turkey unveiled its citizenship through an investment program. The Turkish government started the program to encourage FDI and boost the country’s real estate market toward the end of January 2017. The investor is allowed to choose from a variety of ways to contribute to Turkish society under this scheme.
The government stated that the entry fee would be at least $1 million when Turkey’s citizenship by investment program was first introduced. As a result, this failed to draw in many investors. The Turkish government reduced the amount of investment required to $250,000 in the middle of 2019 after understanding that the fixed amount is a little bit excessive. However, the minimum fee has increased from $250,000 to $400,000 due to the rise of applicants seeking Turkish citizenship.
Currently, the international investment in this program accounts for almost $250 million of the nation’s monthly revenue.
Who Is Eligible For This Program?
Just as other international programs, the Turkish citizenship program also requires an individual to satisfy specific criteria before applying for it. Here are the eligibility conditions-
- The primary applicant must be aged 18 years or above
- Applicant must never have resided in Turkey against the law
- Petitioner must pay for the expenses of the process and related taxes
Documents Needed For A Turkish Citizenship Program
One must have these following documents with you before applying for to get the nationality via their investment program:
- Birth certificate for all applicants
- Home country issued passports
- Applicants’ residence evidence
- Passport-sized photographs (colored)
- Biometric data
- Marriage license (optional)
- Spouse’s death or divorce decree (optional)
- Evidence that each applicant has a spotless criminal background
- Valid health insurance (in Turkey)
- Evidence of a $400,000 investment into a Turkish bank or to a lawyer as a client
- Valid Turkish Tax ID
Please note that one can include their spouse and dependent children (below 21 years or specially abled) in the application process.
What Are The Benefits Offered With This Program?
Starting A New Life In Turkey
You are eligible to receive your Turkish passport in less than two months after filing your application after investing $400,000 in real estate.
As soon as you receive the citizenship visa, you and your family are allowed to reside, work, and study in Turkey. You may, for instance, earn money from your real estate asset by renting it out. Additionally, if you intend to relocate with your family, you can relax concerning your kids’ schooling. You and the kids can enjoy the Turkish high-standard lifestyle and educational system because the visa is extended to the entire family.
Get Visa For Your Family Entirely Free
The spouse, any dependent children (under the age of 21) and parents may accompany the primary candidate for Turkish investment citizenship. Additionally, all members have access to free healthcare services, much like the residents in the area.
Easily Available Schengen Visa
Holders of Turkish citizenship can apply for a Schengen visa easily and quickly as long as they have the necessary documentation. In addition, Turkey and several other nations have bilateral agreements that permit visa-free travel. Hong Kong, Singapore, Japan, Mexico, South Korea, and nearly all of Latin America are among them.
Get Easy Access To American E-2
You can easily apply for an E-2 investor visa to enter the US if you want to move there. A treaty between the two nations governs US E-1 and E-2 investor visas. Those who are unable to apply for an E2 visa through their native citizenship have a fantastic opportunity to obtain that through Turkish citizenship.
Zero language or residency requirements
Before or after completing the citizenship by investment in Turkey, the applicant may or may not remain in Turkey. Additionally, you can proceed even if you are not familiar with the local Turkish tongue.
How To Invest In Turkish Properties To Obtain Nationality
There are specific investment avenues in Turkey through which one may apply for citizenship by investment. These include:
- Purchasing real estate
- Creation of employment opportunities
- Capital Movement
Let us take a brief look at these routes.
Purchasing Real Estate In Turkey
Real estate investing offers a variety of opportunities. In order to buy any form of property in Turkey, a person must invest $400,000 in real estate.
Furthermore, as real estate is often not overpriced, there is no need to obtain a pre-approval before purchasing a property.
Creating Job Opportunities For Turkish Locals
Creating jobs for at least 50 Turkish citizens is another popular way to acquire the Turkish citizenship through investment. So, in order to obtain citizenship, start your own business and outsource some of the work. Considering the costs involved in founding and maintaining a nation, it seems sensible to seek legal counsel.
Capital Circulation
Foreign investors, not willing o deal with the business world or invest in real estate, can make a capital investment. The current minimum capital investment requirement for Turkish citizenship is set at $500,000.
One can do this in three ways:
- Place the money in a Turkish bank.
- Make investments in government bonds
- Buy stock in a fund.
Once done, keep the investment for three years, just in case.
Ending Thoughts
Investing in Turkish real estate is one of the easiest ways to multiply your assets while enjoying a lavishing lifestyle. Turkey offers one of the best investment benefits to foreign nationals. But one should always contact and consult a legal agent before making any decision. Turkish law is strict, so be careful, read the article thoroughly and decide only after taking expert advice.