Turkish Citizenship by Investment: Types and Requirements

As of May 13, 2022, a decision in Turkey's Official Gazette states that the minimum property purchase amount required for Turkish citizenship has been raised from $250,000 to $400,000. This change is effective from June 13, 2022.

How to Get Turkish Citizenship by Buying Property:

In May 2017, Turkey introduced a program to encourage foreign entrepreneurs to invest. The rules were later adjusted in September 2018 and December 2018. This program lets foreigners buy property or invest in specific ways to become Turkish citizens. The conditions were made easier in 2018, making this program one of the best globally.

Investment Strategies for Turkish Citizenship:

There are several ways to invest and become a Turkish citizen:

• Property Purchase: Buy a property worth at least $400,000. (keeping it for 3 years is the reqiurement)
• Bank Deposit: Put $500,000 in a Turkish bank for 3 years.
• Government Bonds: Invest in government bonds worth $500,000 for 3 years.
• Business Investment: Start a business with at least $500,000.
• Employment: Employ 50 Turkish citizens in your Turkish company.
• Insurance Deposit: Deposit $500,000 with the Insurance and Private Pensions Regulation and Supervision Agency for 3 years.

Steps for Applying for Turkish Citizenship:

• Obtaining a Tax Number from a tax office in Turkey.
• Opening a bank account in a Turkish bank, requiring your passport, Tax Number, and proof of address.
• Conducting investment transactions through bank transfers.
• Acquiring a real estate title deed or a notarised sales agreement with a 3-year non-sale note.
• Proceeding to apply for Turkish citizenship after obtaining a residence permit. No interview needed.

Important Points about Turkish Citizenship by Investment:

• Anyone can apply for Turkish citizenship.
• Stateless people can also apply with a document from the UN.
• Various investments qualify
• You need to invest for at least 3 years.
• After 3 years, you can sell your property.
• Your spouse and children under 18 become citizens too.
• Permanent residence isn't required.
• You can apply alone; family doesn't have to come with you.
• Citizenship is for life and allows visa-free travel to over 100 countries.
• No language test or interview needed.
• Turkey allows dual citizenship, but check your country's rules.
• You need to pay Transfer Tax and Value Added Tax after buying a property.
• Only valuers approved by the Ministry of Environment and Urbanization are accepted.
• You can buy multiple properties as long as they total $400,000.
• This applies only to properties bought after September 18, 2018.
• Exchange rate is set by the Tapu Office on the application day.

Turkish Citizenship Types:

• Citizenship by investment: Introduced in 2018, it includes buying real estate for $400,000 or depositing $500,000 in a Turkish bank. You need to commit for 3 years. Also, investing $500,000 in a business or employing 50 Turks qualifies.
• The Turquoise System: Started in 2017, this is for people with expertise or those in certain fields. Business leaders and investors can also apply.
• Property and Residence Permit Holders: If you've owned property for 5 years and lived there for 4, you can apply, no matter the property's value.
• Birth: Being born to Turkish parents makes you a citizen.
• Marriage: After 3 years of marriage to a Turkish national, foreigners can apply.

Required Documents for Turkish Citizenship Application:

• Filled application form
• Passport
• 12 biometric photos for each family member
• Birth certificate
• Health insurance
• Residence permit or tourist visa
• Marriage and birth certificates if applicable
• Tax payment receipt
• Title deed or purchase commitment from Notary
• Appraisal report
• Proof of investment via bank transactions ($400,000 or $500,000, depending on the investment.)

If you're considering citizenship through investment, AGM Homes is here to ensure a seamless acquisition and transaction experience. Contact us today to begin.