Turkey has become an increasingly popular destination for foreign investors seeking citizenship by investment. With a thriving economy, strategic location, and attractive lifestyle, Turkey offers a unique opportunity for those looking to obtain Turkish citizenship through investment in 2023.
The Turkish citizenship by investment program presents a host of compelling advantages:
To be eligible for the Turkey citizenship by investment program, the primary applicant must meet the following requirements:
To initiate the process of obtaining Turkish citizenship through investment, applicants can choose from various investment routes, including:
When applying for the Turkish Golden Visa, applicants must provide a set of essential documents to support their application:
The Turkish government offers a variety of investment options to applicants for the Golden Visa program. This allows applicants to choose the investment option that best suits their financial goals and risk tolerance.
It is important to note that all investments must be made from a foreign bank account. Investments made from a Turkish bank account will not be considered valid.
In order to qualify for a Turkish Investment Visa, applicants need to satisfy the following eligibility criteria:
- The applicant must be of legal adult age.
- The applicant must possess a clean criminal record with no prior convictions.
- The applicant must not have a history of illegal residency in Turkey.
- A thorough due diligence process must have been conducted concerning the investment.
- The funds utilised for the application must have been obtained through lawful means.
To obtain a Certificate of Eligibility for the Turkey Golden Visa, applicants must submit their application to the relevant government agency, depending on the type of investment chosen. The relevant agencies are as follows:
Consult with a Turkey Citizenship by Investment Expert
They offer comprehensive services and have local offices in Istanbul, Turkey. Their team of legal professionals and licensed real estate experts can assist you throughout the process and provide guidance tailored to your needs.
Turkey Citizenship Scheme Application Timeline
The application timeline is typically three to four months, from the time you submit your residency permit application. You are not required to be physically present in Turkey for interviews or document submissions.
Below are steps for the real estate route to Turkish Citizenship:
Step 1: Start by contacting the Get Golden Visa Team and obtaining new Turkish Tax ID numbers.
A tax ID is a fundamental requirement for legal processes related to property purchases. Once you have your tax number, proceed to open a bank account in Turkey, a process that our experienced team can assist you with.
Step 2: Conduct thorough research to identify the specific property you wish to purchase. This marks the beginning of the paperwork involved in the process.
Step 3: Gather the necessary documents.
For real estate investment, you will need to obtain a certificate of eligibility, which is granted upon qualifying for the Turkey citizenship by investment program. To do this, you must submit an application to the General Directorate of Land Registry and Cadaster of the Ministry of Environment and Urbanization.
Step 4: Obtain your residence permits.
It's essential to be a legal resident to initiate the application process. Therefore, as soon as you've made your investment with the aim of obtaining a Turkish passport, secure your residence permit. Remarkably, this permit can be issued on the same day you submit your application, making it one of the fastest residence processes globally.
Step 5: Submit your paperwork, including all required documents and application forms, to the Provincial Directorate of Census and Citizenship.
Due diligence is essential for any real estate transaction, but it is especially important in Turkey, where the property market is complex and there is a risk of fraud. A comprehensive due diligence process should include the following steps:
It is important to note that due diligence can be a complex and time-consuming process, so it is advisable to hire a qualified real estate lawyer or surveyor to assist you.
Here are some additional tips for conducting due diligence on Turkish real estate:
It is important to note that the tax laws in Turkey are complex and can change frequently, so it is always best to consult with a qualified tax advisor to get personalised advice for your specific situation.
Here are some additional things to keep in mind about Turkish taxes:
Property Investment in Turkey
Turkey not only ranks among the most sought-after destinations for second citizenship but also boasts an attractive real estate market with substantial return potential.
The diverse array of real estate options, including luxury and affordable properties, new constructions, off-plan developments, renovated apartments, villas, and resale homes, fuels the interest of foreign investors in the Turkish real estate sector.
Investing in Turkish real estate can yield substantial returns. In cities like Istanbul, the nominal value of real estate typically doubles every five to ten years. House prices across the country often experience annual growth ranging from five to 20 percent.
Turkey upholds a policy of permitting both dual and multiple citizenships, without officially restricting any nationality.
This provision offers a substantial advantage to individuals who desire to maintain their ties and work in their home country while enjoying the benefits of Turkish citizenship.
It's important to note that foreign citizens holding dual citizenship may be exempt from certain Turkish obligations, such as mandatory military service.
Turkish citizenship comes with a plethora of benefits, including the ability to travel to a significant number of countries without the need for a visa or by obtaining a visa upon arrival. Holders of a Turkish passport can enjoy visa-free or visa-on-arrival access to nearly 110 countries worldwide.
These countries encompass diverse regions, including the Middle East, Asia, Europe, and South America. Some of the notable countries offering such privileges include Qatar, Singapore, Tunisia, Jordan, Iraq, Japan, South Korea, Malaysia, Hong Kong, Indonesia, Belarus, Bosnia, Chile, Colombia, Ecuador, El Salvador, Georgia, Paraguay, Serbia, South Africa, Thailand, Northern Cyprus, Ukraine, Uruguay, Morocco, Brazil, Argentina, Kuwait, Bahrain, Lebanon, and a majority of African nations.
In addition to obtaining Turkish citizenship through investment, there exist alternative routes to acquiring Turkish citizenship, including:
In addition to the Turkey citizenship by investment program, several other European countries have introduced their own citizenship programs, attracting a substantial number of investors and contributing to the growth of their economies.
Here are some of the renowned citizenship by investment programs:
1.Portugal Golden Visa
- Capital transfer in Portugal
- Establishment of a company employing at least 10 Portuguese individuals
- Purchase of real estate property
- Investment in Portugal Golden Visa funds
- Second residence and passport security
- Access to the European education system
- Eligibility for Portuguese citizenship after residing for five years
- Family members can join and access public services.
- Investment in real estate
- Eligibility for the whole family to obtain the visa and access other services in Spain
- Right to access healthcare and education systems
- Opportunity to apply for permanent residency after five years
- Possibility to apply for citizenship after ten years of residency.
- Purchase of real estate property.
- Capital contribution in a Greek-registered company
- Acquisition of shares or corporate bonds.
- Deposit a certain amount in a Greek bank.
- Visa-free travel to the Schengen zone
- No residency requirement in Greece
- Eligibility for citizenship after seven years of residency
- Access to the Greek education and healthcare system for the individual and their family.
- Proof of residence in Malta for 36 months
- Purchase of residential property
- Signing of a rental contract with an annual rent for five years
- Donation to a registered cultural, scientific, philanthropic, or artistic non-governmental organisation.
- Passport issuance for the entire family and indefinite residency rights
- Visa-free travel within the Schengen zone
- Freedom to travel, reside, work, or study throughout the European Union
- Tax efficiency.
The government has implemented this program to attract foreign investment and boost the country's economy. It has proven to be a popular option for Pakistani families, who are drawn to Turkey's favourable business environment, high quality of life, and cultural affinity with Pakistan.
There are many benefits to investment-based immigration to Turkey for Pakistani families. These include:
Can I get Turkish citizenship by buying a house?
Yes, you can become a Turkish citizen by purchasing a house. This is one of the most popular routes under the Turkish citizenship by investment program.
Is there a Turkey residency by investment scheme?
Turkey does not have a separate residency by investment program. You can directly apply to the citizenship program and, upon approval, automatically gain residency in the country.
Do I have to speak Turkish if I get citizenship through investment?
No, knowledge of the Turkish language is not a requirement to obtain citizenship through investment, unlike many other programs.
What are the stay requirements?
There are no stay requirements, meaning you can travel freely in and out of the country without restrictions.
Can I include my family in my application?
Yes, you can include your spouse and children under the age of 18 as dependents in your citizenship application.
Can I sell the house after a while?
You must retain ownership of the property for a minimum of three years. After this period, you are allowed to sell your property in Turkey if you wish.
Online Application: Fill out the visa application with your passport details.
Payment: Use a credit card to make an online payment.
Email Confirmation: After payment confirmation, your visa will be emailed to you.