Forming a bridge between the continents of Europe and Asia and surrounded by the Black Sea, Mediterranean Sea, and Aegean Sea, Turkey occupies a unique geographic location. Turkey as a highly diverse and heterogeneous country, also combines the elements of traditionalism and modernity. Turkey’s free trade agreements with EFTA (European Free Trade Association) and 32 other countries signify its commitment to economic freedom and open markets. Please note that the Visa Liberalization Dialogue between Turkey and the EU, if successful, will safeguard open borders with 26 Schengen countries.
Program Overview
The amendment made to the “Regulation of the Turkish Citizenship Law” on January 12, 2017 has enabled foreign nationals to acquire Turkish citizenship through investment. Turkey introduced the citizenship by investment program soon after recognizing its unparalleled benefits. Turkey has continued to facilitate foreign investment in the country by easing the investment requirements (which will be illuminated below).
Program Benefits
If you are longing for a cost-effective life in a diverse country, immigration to the fascinating country of Turkey and obtaining its citizenship will make your dreams a reality.
Benefits associated with the Turkish citizenship by investment program include:
- Turkey is home to liberal investment policies.
- Turks have continuously adopted a welcoming attitude towards foreigners.
- No minimum period of residence required.
- Turkey has developed a flexible immigration program for investors with different needs and financial budgets.
- Investors are privileged to travel to 102 countries worldwide including most countries in Latin America and Southeast Asia without the need to go through the cumbersome visa process.
- The program covers your spouse, children under 18 years old, and dependent children over 18 years old who suffer from medical conditions.
- Dual or multiple citizenships are allowed under Turkish law.
Program Qualifications
Applicants should act in accordance with the following criteria in order to be granted Turkish citizenship:
- They should open a bank account and make necessary investments.
- Holding a valid residence permit at the time of citizenship application is a must. However, investors do not need to maintain residence in Turkey and they may reside in their home country as long as they wish.
- Investors should submit the required documents including an official statement from the concerned ministry (attesting that qualifying investment has been made), passport copy, birth and marriage certificate, residence permit, and medical certificate (noting the investor’s physical and mental health). The competent authority for reviewing the application would be the governorship of the applicant’s domicile. Should he/she live abroad, the Turkish consulate undertakes such responsibility.
Investment Options
Investors can take advantage of any of the following investment options in order to be granted Turkish citizenship:
- Real Estate Investment
Foreign investors can make a minimum investment of $400,000 in real estate. The recent amendment to the Turkish Citizenship Act (on May 13, 2022) up the minimum investment amount from $250,000 to $400,000. Investors are prohibited from selling the property for 3 years to be noted in the title deed.
- Cash Deposit
Under this alternative, investors may make a deposit of $500,000 in a Turkish bank, down from a previous value set at $3,000,000. The deposit must remain intact for 3 years.
- Fixed Capital Investment
The fixed capital investment option has been reduced from $2,000,000 to $500,000 for foreign investors.
- Job Creation
Individuals employing at least 50 employees are also eligible to apply for Turkish citizenship. Prior to the recent changes, hiring at least 100 employees led to Turkish citizenship provided that other conditions were also met.
- Government Bonds
Acquisition of Turkish citizenship is feasible through the purchase of government bonds as well. The government bonds should be of $500,000 value at a minimum and should be held for at least 3 years. The minimum investment amount was previously set at $3,000,000.
- Companies’ Shares
Investors may purchase real estate investment fund shares or venture capital investment fund shares worth at least $500,000 (previously $1.5 Million). They should not be sold for at least 3 years.
Fees
You, your spouse, and children under the age of 18 qualify. Objectively, the fees are minimal.
Insurance Fee +-500 TRY
Residence Permit Fee and Visa Fee +- 2,500 TRY
Nationality Fee 30 TRY per person
Letter of Conformity Fee 1500-2000 TRY
Turkish ID Fee 45 TRY per person
Turkish Passport Fee 1,270 TRY per person
FAQs about Turkey The Citizenship by Investment Programm:
- Are people married to a Turkish citizen allowed to apply for a residence permit in case of breach?
If foreigners married to a Turkish citizen breach visa or residence permit, they are required to exit the country. Unless exiting the country is possible, they may contact the related provincial migration management.
- Is it possible to go abroad within the 90 days evaluation process?
Residence permit application form is being issued for foreigners, who applied for the first time application on the appointment day, by the Provincial Directorate of Migration Management. The application document, for extension applications, is automatically issued by the system. This document must be approved by the Provincial Directorate of Migration Management. This application form and approved samples of fee receipts provide multiple exit-entry rights for each person on condition that you return within 15 days.
- Do I have to have a family residence permit for my child?
In case of meeting the conditions, the sponsor shall have the right to apply for the residence permit for his/her own or his/her spouse. child or for his/her own or his/her spouse dependent child over 18. If the conditions of a family residence permit are not met, they can apply for a different residence permit. Evaluation is made by the Provincial Migration Management.
Make Turkey your second home
Visa-Free Countries
Population
83,614,362
GDP (per capita)
$32,278
GDP (purchasing power parity)
$2.749 trillion
CAPITAL CITY
Ankara
TIME ZONE
UTC +3
TOTAL AREA
783,356 km2
LANGUAGES
Turkish
CURRENCY
Turkish Lira
MAIN INDUSTRY
Textile, electronics, tourism, mining and manufacturing
KEY ADVANTAGES
- Favorable investment conditions
- Dual or multiple citizenship allowed
- Possible member of the EU
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Disclaimer
The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.