Citizenship has started to be used as a tool worldwide to serve the economy and labor policies of the state and especially to encourage foreign investment. Necessary regulations have been made in many countries in this regard. It is possible to acquire Turkish Citizenship through methods such as real estate purchase, capital investment, employment creation, purchase of debt instruments, deposits, and funds.
It has been accepted that foreigners who first obtained a residence permit in the Republic of Turkey in 2016 and who hold a Turquoise Card and their foreign spouses and children under the age of 18 can acquire Turkish Citizenship within the scope of exceptional circumstances. In this law numbered 6735 (International Labor Law) of 2016, foreign persons who do not work in Turkey, but who invest within a certain scope and amount, and their foreign spouses and children under the age of 18 are allowed to acquire Citizenship, but the conditions of the investment to be made are not specified.
The nature and amount of this investment became clear as a result of the additions made to the board decision that came into force in 2017 and a year ago. In 2018, with the Presidential Decision, the previously determined investment amounts were reduced, and the application conditions were made more accessible. Finally, in 2018, the way was opened for foreigners to acquire Turkish Citizenship by purchasing real estate worth at least 250,000 USD (US Dollar).
In the following article, we will shortly explain the process of foreigners' gaining Turkish Citizenship through investment. We will share the subject in all details, separated by investment type, and the advantages of becoming a Turkish citizen.
Conditions for Acquiring Turkish Citizenship by Investment
With the amendment numbered 418 made on 07.12.2018 with the Presidency's decision numbered 106 and published in the Official Gazette on 19.09.2018, foreigners will be able to acquire Turkish Citizenship if they meet at least one of the following conditions.
1. Turkish Citizenship by Fixed Capital Investment
It is necessary to make a minimum capital investment of 500,000 USD (US Dollar) or in a different foreign currency or Turkish Lira equivalent. This amount, which was 2,000,000 USD (US Dollars) before, has been reduced to 500,000 after the change. The capital investment made should be determined through the Ministry of Industry and Technology.
2. Turkish Citizenship by Purchasing Real Estate
It is necessary to register an immovable property with a minimum of 250,000 USD (US Dollars) or a different foreign currency or Turkish lira equivalent, provided that an annotation that it cannot be sold for a minimum of 3 years is put into the land registry. The transfer and abandonment of the property cannot be made for a period of 3 (three) years in the contract to be drawn up at the notary public after the foreign person has purchased.
3. Turkish Citizenship by Employment Creation
It is necessary to create employment for a minimum of 50 people (reduced from 100 to 50 with the last law change). Work must be determined by the Ministry of Family, Labor & Social Services.
4. Turkish Citizenship by Deposits in Banks
It is necessary to deposit a minimum deposit of 500,000 USD (US Dollars) or a different foreign currency or Turkish lira equivalent to banks operating in the Republic of Turkey. They are kept for a minimum of three (3) years. The Banking Regulation and Supervision Agency must determine the transaction.
5. Turkish Citizenship with Government Borrowing Instruments
It is necessary to purchase a government debt instrument with a minimum amount of 500,000 USD (US Dollars) or a different foreign currency or Turkish Lira equivalent, provided that it is kept for a minimum of three (3) years. The transaction must be determined by the Ministry of Treasury and Finance.
6. Turkish Citizenship with Investment Fund Participation Share
It is necessary to purchase venture capital investment fund participation share or real estate investment fund participation share amounting to a minimum of 500,000 USD (US Dollars) or a different foreign currency or Turkish lira equivalent, provided that it is kept for a minimum of three (3) years. The transaction must be determined by the Capital Markets Board.
Becoming a Turkish citizen and having a Turkish passport has been made easier with the new regulations. Foreign nationals can have the right to obtain Turkish Citizenship and passport by purchasing real estate property or investing in the requested amount. When you have a Turkish passport, you can go to more than 123 countries without a visa, visa on arrival or with an e-visa.
So, what privileges make a Turkish passport a real target for many investors who are looking for properties for Turkish Citizenship? Do you know the strength of the Turkish passport? Which countries allow visa-free entry? What are the advantages of obtaining Turkish Citizenship?
Advantages of Turkish Citizenship
- You can have a Turkish passport and Citizenship in just 120 working days.
- No need for minimum residency period is required.
- You can travel to more than 111 countries without a visa or visa on arrival, 12 countries with easy-to-obtain e-visa, and quickly enter 26 Schengen countries.
- The Turkish passport is among the top 30 passports in the world.
- You have the right to free education at state universities.
- You do not need a residence permit.
- You can benefit from retirement programs like any Turkish citizen.
- You can vote in elections.
- You can benefit from all medical rights.
- You can obtain dual Citizenship with a Turkish passport valid for 10 years.
Once after becoming a Turkish Citizen, you can enter Georgia, Moldova, Northern Cyprus, and Ukraine without a passport. Some of the 111 countries where you can travel without a visa as a Turkish passport holder are Japan, South Korea, Malaysia, Singapore, Hong Kong, Indonesia, Brazil, Argentina. You can also travel to Australia with an online visa.
Becoming a Turkish citizen has become a dream for many people, and having a Turkish passport has become a natural gift that makes you feel belonging to a history and a future. With the latest regulations, the conditions for becoming a Turkish citizen by investing in real estate just got more accessible, and the doors are wide open.
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