If you purchase real estate worth at least USD 400.000 in Turkey, you can apply for Turkish Citizenship by Investment and get a Turkish Passport. With your application, your spouse and children under the age of 18 will also receive citizenship.
Application for Turkish Citizenship by Investment
In June 2022, the government announced changes to the Turkish Citizenship by Investment Program, sometimes referred to as the Turkish Golden Visa. These changes mean that buyers can obtain citizenship and passports for as little as US$400,000. This made the program one of the most affordable and attractive citizenship initiatives in the world. Since then, thousands of investors have obtained citizenship by buying real estate, and Zaren Invest has helped many.
Those who are successful in their application will have Turkish citizenship forever, and their children born later will also be born citizens. Turkey allows dual citizenship, allowing you to hold more than one citizenship in addition to your Turkish citizenship.
Different ways to obtain Turkish Citizenship by Investment
1 – Invest in real estate worth at least 400,000 USD. Cheapest option
2 – Making a fixed capital investment of at least USD 500.000 in Turkey
3 – Deposit at least USD 500.000 or equivalent foreign currency in a Turkish Bank
4 – Purchase Government Bonds amounting to at least USD 500,000 or foreign currency equivalent
5 – Creating employment for at least 50 people in Turkey, as approved by the Ministry
6 – At least USD 500,000 to a real estate investment fund or venture capital investment fund
Requirements for the Real Estate Investment Program
– Applicants are required to purchase a property worth at least 400,000 USD. This does not have to be a single unit, it can be more than one unit according to the provisions of the regulation.
– Applicants are required to hold the purchased real estate for at least 3 years. This 3-year commitment must be recorded as an annotation on the Title Deed and/or Notarized Sales Contract.
– An Official Valuation Survey must be conducted by the authorities announced by the Banking Supervisory Board. The valuation report must be determined as at least USD 400.000.
– The purchase price must be paid to the seller by bank transfer and supported by bank receipts. This proves that the transaction has taken place.
– The officially declared value of the investment must be at least USD 400,000 at the time of the Notarized Sales Contract and/or transfer of ownership at the Land Registry Office.
– Any property within this scope must not be registered in the name of any foreign natural person, including the applicant’s spouse or children. Properties transferred by the applicant’s spouse or children after 12.01.2017 are not covered by the regulation.
– If the applicant has purchased a property using a mortgage loan, the mortgage value will be deducted from the value stated in the Official Valuation Survey.
– The application will be made to the Ministry of Interior, General Directorate of Population and Citizenship Affairs, Department of Foreigners through the Land Registry Directorate of the Ministry of Environment and Urbanization.
How to get a Turkish Passport by buying property?
Step 1 – Get Tax Registration Number
Step 2 – Open a Turkish Bank Account
Step 3 – Find the property for sale
Step 4 – Buy property in Turkey
Step 5 – Get the Certificate of Conformity
Step 6 – Applying for Residence in Turkey
Step 7 – Apply for Turkish Citizenship
Steps to Apply for Turkish Citizenship with Real Estate Investment
Step 1 – Get Tax Registration Number
Tax Registration number can be obtained from any tax office in Turkey. Original Passport and Photos are required.
Step 2 – Open a Turkish Bank Account
Documentation of transactions at the time of purchase will be required. Original Passport and Tax Registration Number are required. An Official Document (such as a Utility Bill) showing your current address is required to open a bank account.
Step 3 – Find the Property
Total Value must be USD 400,000 or equivalent in Turkish Lira (can be single or multiple units). Properties must be Completed or Near Completion, have a Certificate of Occupancy issued and a Condominium Easement or Title Deed in place. They must be eligible for a Formal Valuation Survey.
Step 4 – Buy the Property
Use Bank Transfer and document the transaction with a receipt. Get the Land Registry and/or Notarized Sales Contract as part of the condition with the annotation “Cannot be Sold for 3 Years”. After three years, you can sell your property investment in Turkey as your citizenship is guaranteed forever.
Step 5 – Get a Certificate of Eligibility
Provide the Official Valuation Survey and submit the Bank Transfer Receipt. Apply to the Ministry of Environment and Urbanization.
Step 6 – Application for Residence in Turkey
Collect the necessary Documents before applying for your residence permit. Apply to the Directorate General of Migration Management. The residence permit is an important step to obtain your citizenship and eventual passport.
Step 7 – Apply for Turkish Citizenship by Investment
Collect the necessary documents before applying for citizenship. Apply to the Directorate General of Migration Management. NOTE: Zaren Invest’s in-house lawyers are available to guide you every step of the way.
Facts about the Turkish Citizenship by Investment Program
You will need to keep all your investments for 3 years.
You are free to sell your property when the required period expires.
Turkish Citizenship will be granted to the applicant, the applicant’s spouse and children under the age of 18.
You do not have to live in Turkey to benefit from the Turkish Citizenship by Investment Program.
Your citizenship will continue forever and all children born afterwards will be Turkish citizens.
You can have more than one citizenship as Turkey allows dual citizenship.
Documents Required for Turkish Citizenship by Investment?
– Birth Certificate – Each copy of the birth certificate needs to be stamped and certified OR Apostilled in accordance with the Apostille Convention.
– Residence Certificate – Proof of address must be provided. Bank statements or utility bills will NOT be accepted. Each certificate must be stamped and certified OR Apostilled in accordance with the Apostille Convention.
– Marital Status – Vital Record, Marriage Certificate, Divorce Certificate showing all family members as husband, wife and children. Each certificate needs to be stamped and attested OR Apostilled.
– If the applicant is a widow, Death Certificate of Spouse
– Health Insurance
– 12 Biometric Photographs taken on a white background – 4 Biometric photographs taken on a white background and 5×6 in size are required for all applicants. The main applicant will require 8 more Biometric photographs of normal size taken on a white background.
– Passport – A copy of your original Passport.
– Original and notarized Turkish translation of all documents
– Power of Attorney Given
– Application Forms – All filled in and completed correctly.
Professional Help for Turkish Citizenship
With over 20 years of experience in the Turkish real estate market, Zaren Invest offers a wide range of Investment and Lifestyle properties for sale. We have carefully selected pre-approved properties for the “Citizenship by Investment Program” from A to Z, making the process quick and easy for our clients. Our dynamic team of professional investment consultants are on hand to answer any questions you may have about the program as well as provide you with the most suitable options that meet all your requirements. Not only that, our in-house lawyers are fully authorized to assist you with all legal matters throughout your application. Over the years we have helped more than 1,000 clients from over 18 countries invest in thousands of Turkish properties. As an industry leader, we guarantee that our bargaining power can help secure the best prices and affordable payment plans for our clients.
Why invest in Turkey?
Fantastic climate – Many Turkish cities offer 300+ days of sunny weather. For example, investing in a property in Bodrum guarantees a beautiful lifestyle of pomp, splendor and weather. Investors in Antalya can enjoy beaches and skiing in the same day. British investors in Fethiye can enjoy the world famous Blue Lagoon beach.
Strategic location – Turkey is strategically located between East and West and acts as a bridge between the two. Therefore, Turkey offers unique opportunities in business as well as visa-free travel. Real estate investors in Istanbul can enjoy a gateway.
Ideal for families – Those who move to Turkey with their families often comment on how hospitable and friendly the Turks are. Turkey is a welcoming country to foreigners and expats with some of the best international schools.
Healthcare in Turkey – Rising as one of the world’s leading healthcare destinations and medical tourism, Turkey offers unrivaled and extremely affordable healthcare compared to other countries in the world.
Food in Turkey – Need we say more? Turkish food is famous worldwide for its unique flavors and rich ingredients. From daily fresh vegetables to classic kebabs and desserts, eating in Turkey is a pleasure in itself.
Excellent value – With the Turkish Lira losing value, now is the time to buy real estate in Turkey before prices rise. By investing in Turkey you can get a villa that will set you back 400,000 USD in some cities, or a city center apartment on the rise in Istanbul.
A regional powerhouse – ahead of its neighboring countries, Turkey is an EU Candidate Country as well as a member of the G20 and NATO. Turkey’s future looks positive.
Turkish Citizenship by Investment FAQ
How long does it take to get Turkish Citizenship?
In Zaren Invest’s experience, the process for our clients to obtain Turkish Citizenship by Investment normally takes between 2 – 4 months to complete. This process is much faster than in other countries around the world where it can take years.
Can my children and dependents obtain citizenship?
Yes, they can. If you buy a 400,000 USD property, you can obtain citizenship and a Turkish passport for yourself, your spouse and your children under the age of 18. Children over the age of 18 will need to purchase 400,000 USD worth of real estate in their own name.
Do I need to live in Turkey after obtaining Turkish citizenship and passport?
No, you do not. You do not need to live in Turkey to keep your citizenship and passport. There is no minimum number of days per year you need to stay in Turkey. Your citizenship is yours for life.
Do I have to renounce my birth citizenship to become a Turkish citizen?
No, you do not. You do not have to give up your birth citizenship to become a Turkish citizen because Turkey allows its citizens to have dual citizenship and passports.
Will my Turkish citizenship expire at some point?
Your citizenship will never expire. Once you have completed the process and held your property for at least three years, your citizenship is guaranteed forever. This also applies to your spouse and children included in your application.
Do I need to learn Turkish to get a Turkish passport?
While other citizenship programs and countries require you to pass a language test to get a passport, Turkey does not. You do not need to learn Turkish to apply for a passport. However, if you choose to live in Turkey permanently, it is highly recommended that you learn the basics of the language so that you can easily integrate into life in the country.
How strong is a Turkish passport? How many countries can I travel to?
Having a Turkish passport gives visa-free access to more than 100 countries worldwide. These countries include Japan, South Korea, South America and more. A person with a Turkish passport can also travel relatively easily to the United States, United Kingdom, Canada, Australia and the European Union countries. NOTE: A Turkish passport can be renewed every ten years.
Moving to the UK or the USA
As a Turkish citizen, you can apply for a Business Person visa to live and eventually get British citizenship. You can also apply for an E-2 Investor Visa to help you move to the US. If you dream of living in the UK or the US, Turkish Citizenship can be a gateway.
Do I need to declare my wealth to the Turkish authorities?
No, you do not. The Turkish tax authorities will not ask you any questions regarding your current financial situation or current assets.
Are there any tax implications I should be aware of?
As of 2022, Turkey has a double taxation agreement with most developed countries. Therefore, if you have paid taxes on your income from outside Turkey, it is unlikely that you will be taxed again by the Turkish government. For more information, contact us to speak to a Turkish tax expert.
Are there any citizens who cannot apply for Turkish Citizenship?
Under current Turkish law, there are citizens of certain countries who are prohibited from applying for Turkish Citizenship by Investment. Currently, these are citizens of the following countries: Armenia, Cuba, North Korea and Syria.
Can I work in Turkey if my application is successful?
Yes. People who apply for and obtain citizenship can then work in Turkey without the need for a work permit. Citizenship makes it easier to work in Turkey.
Do I have to do military service?
No, I do not. Applicants who have invested in Turkey and obtained citizenship are exempt from compulsory military service. This includes your dependents who apply with you.
What are Turkey’s inheritance laws?
Turkish law fully protects its citizens and their legal heirs in the event of an unfortunate death. Under Turkish law, your property and investment will pass smoothly to your loved ones without too much red tape.
Can I pay using a currency other than Turkish Lira?
UPDATE: As of January 2022, buyers can no longer deposit money directly into the seller’s account. Instead, foreign buyers are now required to send their money to a Turkish bank before purchasing a property. The bank will then convert the currency into Turkish Lira at Turkey’s Central Bank rate for the purchase.
Contact an Advisor
your expectations at Zaren Invest