Are you looking for Turkish Citizenship by investment? Are you having up to $400,000 to invest in any business? If that is you, then you need to read this article to the end.
Turkish Citizenship is a program introduced by the Turkish government in other to bring more investors into the country. Citizenship by investment was established around 2017 as a scheme that is open to outsiders who want to secure a Turkish international passport.
When the program was launched, the Turkish government made the threshold for investors $ 1 million. But due to the high figure, only a few rich and influential people were capable to invest such kind of money in the country when they get a Turkish passport. With this slow turnout, the government had to reduce the threshold to $250,000 which was implemented in 2019 in other to make CBI more attractive.
The Turkish government made the process easy and accessible to every investor without any discrimination so long as you have proof to justify your source of income. Becoming a proud holder of a Turkish passport is easy and straightforward. Within just four(4) to six(6) months you can become a citizen of Turkey by investment.
As an investor looking forward to becoming a Turkish citizen, there are various investment options available that you can take advantage of. You can invest $400,000 in real estate in the country, you can also make a direct deposit of the sum of $500,000 in cash to ant Turkish bank, or better still, you can purchase a government bond worth $500,000 or create 50 jobs in turkey.
Before I dive straight into Turkish citizenship by investment and everything you need to know about this amazing program, let us look at some important things about Turkey as a country.
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Historical Overview Of Turkey
Turkey is a country that is nestled between Asia and Europe. The country is known for its beauty, culture, wealth, economic foundation, and good governance. The country’s official language is Turkish and its local currency is called the Turkish Lira.
Turkey covers a land mass of 783,356 km2. Its capital is known as Ankara. The country is having a total population of 83,154,997.
Turkey is becoming a tourist and prime destination for foreigners and investors. In recent years, the country has been attracting different investors from all over the world through its citizenship-by-investment scheme.
The country currently boasts of being the 16th largest economy in the world. Turkey also boasts of having a younger hardworking population who is vibrant and hardworking.
Turkey is also a member of NATO and the G20 as well as an applicant to join the European Union.
What Is The Benefit Of Being A Citizen Of Turkey And the Benefit Of Holding Its Passport
Having or holding a passport from Turkey comes with amazing benefits and privileges one can enjoy being a citizen of the country.
- An investor with a Turkish passport will be able to access over 110 countries and territories, including Japan, South Korea, Hong Kong, and Singapore.
- Free school and university education
- An investor can enjoy free access to medical health care as a Turkish citizen
- An investor can secure Turkish citizenship without any residency requirement.
- Easy access to the US E-2 Visa scheme whereby Turkish citizens can relocate to the US and set up a business.
- An investor can enjoy Turkish citizenship for life and hereditary as descendants under the age of 18 automatically become Turkish citizens
What Are The Requirement of Türkiye citizenship by investment?
- To be qualified and called a citizen of turkey. An applicant for citizenship by investment must meet some basic requirements. Below are the major requirements for becoming a Turkish citizen by investment.
- An investor must acquire at least $400,000 worth of real estate
- An investor can invest a minimum of $500,000 in fixed capital contribution.
- The investor needs to make a deposit of $500,000 fixed capital or equivalent foreign currency or Turkish lira into a Turkish bank account.
- The investor should also be able to invest a minimum of $500,000 or equivalent foreign currency or Turkish lira into government bonds
- Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into a real estate investment fund share or venture capital investment fund share
- Commit at least USD 500,000 or equivalent foreign currency or Turkish lira 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.
Note: The main applicant may also include their spouse, dependent children below the age of 18, and children of any age who are living with disabilities in their application.
Different Ways To Become A Turkish Citizen Through Investments
Turkish Citizenship Through Real Estate Investment
This method or scheme of becoming a Turkish Citizen allows investors to invest a minimum of $400,000 in any real estate business in the country in other to obtain Turkish citizenship and a passport. This means that the investor must be able to acquire real estate worth $400k or the same value in Turkish local currency. The property must remain with the investor for at least three (3) years during which it can be rented out.
Turkey Citizenship Through Governmental Investment
If you are looking forward to getting citizenship through government investment, you’ll need to deposit a minimum of $500,000 at any Turkish bank of your choice the money will have to remain in the bank for a minimum of 3 years in other to be able to purchase a government bond. Under the guidance of the Ministry of Industry and Technology, you can also invest US $500,000 in fixed assets.
Turkey Citizenship Through Job Creation
This is also another way to become a Turkish citizen. As an Entrepreneur, all you need is to be able to set up a company and create at least 50 jobs under the guidance of the Ministry of Labor and Social Security.
Process and Time Frame For Processing Türkiye Citizenship by Investment Program
The application process for Turkish citizenship takes a maximum of 120 days for it to be approved So long as the applicant meets the basic requirement and also submitted the required documents.
Upon submitting all necessary documents to the Turkish government, the review process will begin and the applicant might be invited for an interview. Applicants will also be required to open a Turkish bank account.
Conclusion
Becoming a Turkish citizen is easy so long as you have the resource to meet the basic requirement for being a Turkish citizen. The application process is pretty easy and straightforward.
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