Turkey offers Turkish Citizenship to foreign investors and their eligible family members through the program of Turkish Citizenship by Investment
Turkey has launched its Turkish Citizenship by Investment Program at the end of 2016 and since then the growing number of investors are joining the program as the investment thresholds were taken down at the end of 2018 to attract more applicants for Turkish Citizenship by Investment.
Foreigners may choose one of the below investment options to obtain Turkish Citizenship together with spouses and children under 18 years old:
- Option (1)stipulates that a minimum amount of property (real estate) investment shall be made for $250.000 USD on the condition to not sell the property within the next 3 years.
- Option (2)requires depositing $500.000 USD in cash (or the equal value in Turkish Lira) for at least 3 years in one of the Turkish Banks.
- Option (3)requires that a fixed capital investment shall be made a minimum of $500.000 USD (or the equal value in Turkish Lira. This investment shall be confirmed by the Ministry of Industry and Technology.
- Option (4)indicates that citizenship could be obtained provided that government bonds and bills at the value of $500.000 USD to be purchased on the condition to hold them for at least 3 years. And this investment shall be confirmed by the Ministry of Treasury and Finance.
- Option (5) foresees that it will be possible to obtain citizenship in the event of an investment to be made into a Turkish real estate investment trust or buy the shares of the venture capital investment fund with a minimum amount of $500.000 USD.
$250.000- Property Investment
Cosar & Akkaya Law assist foreign investors for their investment in Turkey in order to obtain Turkish Citizenship. We assist our clients in the property purchase phase and all throughout the process until the Turkish Citizenship is obtained. Only 250.000USD investment in real estate will be enough to get the Turkish citizenship for the investor and the eligible family members. Click here for more details about the procedure.
$500.000- Cash Investment
Investors can deposit 500.000USD in one of the Turkish Bank to obtain Turkish Citizenship together with their eligible family members including spouses and children below 18 years old. Investors should not touch such an account for 3 years to secure Turkish citizenship for life. The process starts with opening a bank account for the investor in Turkey and applying to Banking Regulation and Supervision Agency. Click here for more details about the procedure.
FREQUENTLY ASKED QUESTIONS (FAQ)
The procedure starts with a free consultation about the details of the investment program. Once the investment decision is taken, we sign an Engagement Letter and share our template Power of Attorney for the investor to be issued inside Turkey or in the Turkish Consulate where the investor lives. Due diligence procedure regarding the chosen investment option will follow the issuance of power of attorney. Our lawyers will provide a report regarding the appropriateness of the chosen investment whether it is property or other types of investment. Then, investment is made and the Turkish citizenship application procedure shall start with applying to a residence permit. Upon the completion of residence permit, Turkish citizenship application is submitted for the Investor and the eligible family members.
It will take around 3-6 months provided that all the documents are ready for the foreign applicant and the family members.
Investor must provide his/her passport, civil registry record (or birth certificate if applicable) and marriage certificate. The notarized translation of such documents in Turkey shall be made by our firm.
As Cosar & Akkaya we charge a fixed fee comprised of two instalments being an advance payment at the time we sign our Engagement Letter and another instalment after the application is successfully completed as a success fee. Our fees are quite competitive and our service is boutique to our clients. Please contact us today by sending an email to info@cosarakkaya.law or call us at +90 212 813 65 84.
The current Turkish Citizenship regulations allow investor’s spouses and any children below 18 years old to obtain Turkish citizenship together with the investor.
Investors may not visit Turkey at any stage until the end of the procedure. Turkish passports and IDs are given following the fingerprints are provided by the investor and the eligible family members.
There is no requirement for investor or the eligible family member to stay in Turkey at all either during any part of the application procedure or following the citizenship is obtained.
Turkey allows dual or triple citizenship without any limitation.
Our lawyers evaluate your personal circumstances and provide advice on the most suitable option for your case. As the lowest threshold ($250.000) in Turkish Citizenship by Investment Program is for property investment, it is the most widely chosen option.
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