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Friday, May 24, 2024

    Türkiye Citizenship By Investment Program Benefits & Procedures

    In an effort to draw foreign direct investment and spur growth in the nation’s real estate industry, the Türkiye Citizenship by Investment Program—formerly known as the Turkey Citizenship by Investment Program—was introduced in January 2017.

    The program gives participants the option to select from a variety of economic contributions to Turkish society, which helps to grow the economy of the nation.

    Türkiye, a transcontinental Eurasian nation, is embraced by both Europe and Asia by the Bosphorus Strait (Istanbul). Owing to its strategic location at the meeting point of Europe and Asia, the nation holds great geopolitical significance.

    Benefits of the Türkiye Citizenship by Investment Program

    • Visa-free or visa-on-arrival access to over 110 destinations including Hong Kong, Japan, and Singapore
    • Citizenship of a country that enjoys a mild Mediterranean climate, beautiful scenery, and a high standard of living
    • Full citizenship granted to the applicant and included family members
    • Eligibility for an E-2 Investor Visa in the USA after being domiciled in Türkiye for three years, valid for a five-year renewable period
    • Access to a transcontinental Eurasian country that is a stable economic, financial, and political hub between Europe, Western Asia, and the Middle East

    Requirements of Türkiye citizenship by investment

    To qualify for citizenship, the main applicant should fulfil one of the following investment requirements:

    • Acquire at least USD 400,000 worth of real estate
    • Invest a minimum of USD 500,000 in fixed capital contributions
    • Deposit at least USD 500,000 into a Turkish bank account
    • Commit at least USD 500,000 into government bonds
    • Commit at least USD 500,000 into real estate investment fund share or venture capital investment fund share
    • Commit at least USD 500,000 into a private pension system for a minimum holding period of three years
    • Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services

    The main applicant may include their spouse, dependent children below the age of 18, and children of any age who are living with disabilities in their application.

    Procedures and time frame of the Türkiye Citizenship by Investment Program

    After applicants have chosen the qualifying investment option, a residence permit application shall be made on the family’s behalf. The main applicant is then required to open a bank account in Türkiye.

    Once all application documents have been prepared (including applicable certifications and translations), the investment can be completed and the documents submitted to the government. Contributions must be made in Turkish lira, equivalent to the USD amount.

    Successful applicants are required to visit the country to submit biometrics for the residence application.

    Applications are typically approved within three to five months, following which the citizenship documents are issued. The passport application can then be submitted.

    Please note that Turkish gift and inheritance taxes apply to worldwide assets held by Turkish citizens. We recommend that you seek appropriate professional advice in this regard.


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