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Phone : +905322377280
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Whatsapp: +905322377280
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E-Mail : bilgi@delilavukatlik.com
Turkish Citizenship by Investment: Unlocking the Gateway to Both Local and Global Opportunities
Turkey, a dynamic transcontinental country, offering a unique blend of Eastern and Western cultural influences, nestled at the crossroads of Europe and Asia. Being a Turkish citizen means accessing this dynamic environment, where ancient traditions and modern innovations coexist in harmony. However, Turkish citizenship has the potential to provide much more than cultural and historical richness. If you open a world map and examine Turkey's location on the map, you will see that Turkey offers a very different range of possibilities than other countries where you can qualify for citizenship through investment.
Delil Law Firm provides professional support to its clients from all over the world regarding legal transactions and processes to be carried out in Turkey. Our legal expertise, combined with a deep understanding of Turkish laws and regulations, ensures a smooth and efficient process for acquiring citizenship. We stand by our clients at every step, providing personalized guidance and support.
Investment Options Specific to Individual Goals and Conditions
There are various options for acquiring Turkish citizenship through investment. Investors can choose any of these options depending on their reasons for wanting to obtain Turkish citizenship and their expectations of earnings from their investments. If we need to briefly summarize these options without going into much detail:
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Real Estate Investment: In order to acquire Turkish citizenship through real estate investment, a minimum of 400000 USD worth of real estate must be purchased. It does not matter whether the real estate to be purchased is a residence or a workplace. For this purpose, a single real estate with a minimum value of 400000 USD can be purchased, or more than one property with a total value of minimum 400000 USD can be purchased. Therefore, what is important is not how many properties are purchased, but the total real value of the purchased properties is over 400000 US dollars. It is not necessary to personally use the purchased real estate. Therefore, applicants who prefer this investment method can rent out the real estate they have purchased and thus earn rental income. However, the properties which are purchased to acquire Turkish citizenship cannot be sold to anyone else for 3 (three) years.
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Capital Investment: An application can be made to acquire Turkish citizenship if a capital contribution of at least 500,000 USD is made to a Turkish company. For this purpose, an entire company can be purchased, or only a certain share of the company can be purchased. The important thing is that the value of the sale transaction is at least $500,000.
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Employment Creation: People who employ at least 50 workers within the activities of a business they run in Turkey can also apply to acquire Turkish citizenship. Foreigners who are determined by the Ministry of Labor and Social Security to create employment for at least 50 people can acquire citizenship through exceptional citizenship(istisnai vatandaşlık).
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Depositing Money to a Bank Account: People who deposit money equivalent to at least 500,000 US Dollars to banks operating in Turkey, provided that they keep it for three years (the account will be blocked during the three-year period), may be entitled to citizenship, as long as they follow the relevant application process. The foreign currencies to be sold by banks to the Central Bank are US Dollar, Euro, British Pound and Swiss Frank.
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Fund Investment: Persons who purchase real estate investment fund participation shares or venture capital investment fund participation shares of at least 500,000 US Dollars or equivalent foreign currency, provided that they hold them for at least three years, are entitled to Turkish citizenship as a result of the verification process to be carried out by the Capital Markets Board upon application.
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Investment in Government Debt Instruments: An application can be made to acquire Turkish citizenship if an investment is made in government debt instruments with a net amount of at least 500,000 US Dollars or the equivalent foreign currency or Turkish Lira. The amount will be blocked for three-year period.
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Private Pension Insurance(BES) Investment: Foreigners who deposit a contribution of at least 500,000 US Dollars or equivalent foreign currency into the private pension insurance system(bireysel emeklilik sigortası), provided that they remain in the system for 3 years and in designated funds, can apply to acquire Turkish citizenship.
Below, under our frequently asked questions heading, we will try to answer the most frequently encountered questions regarding these issues for you.
Frequently Asked Questions
How can I gain Turkish citizenship through investment?
As of June 13th, 2022, the minimum investment amount was raised from $250,000 to $400,000.
The investment options include:
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Real Estate Investment: Investing in land or property with a minimum total value of $400,000. This investment can be in one or multiple properties.
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Employment Creation: Providing employment for at least 50 people in Turkey.
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Fixed Capital Investment: Making a fixed capital investment of at least $500,000.
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Government Bonds: Purchasing state department instruments worth $500,000.
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Bank Deposit: Depositing at least $500,000 into a Turkish bank.
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Venture Capital Investment: Investing in a venture capital investment fund worth $500,000
Which investment method would you recommend to become a Turkish citizen through investment?
We recommend bank deposit and real estate investment methods for gaining Turkish citizenship by investment as they are the easiest and fastest methods. The fastest among these is, of course, bank deposits. Because even in the real estate investment method, many issues(such as determining the real estate to be purchased, carrying out the purchasing processes, and verifying the real estate values) may be involved. However, the real estate investment method is preferred because it is carried out for a lower cost(this might give you exactly 100.000 reasons to go this way since it is 100.000 USD cheaper).
How long does it take to become a Turkish citizen?
The process of obtaining Turkish citizenship through investment typically takes between three to six months after the investment is made and the application ise filed. This timeframe can vary depending on the specific circumstances of each application.
Will my spouse and descendants also gain citizenship?
The Turkish citizenship by investment program not only benefits the main investor but also extends significant advantages to their immediate family members, providing an opportunity for the entire family to enjoy the benefits of Turkish citizenship. The applicant's spouse(wife or husband) and his/her children under 18 can also benefit from citizenship by investment program.
Can I get the money which I invested back after I got my Turkish citizenship by investment?
Yes, you can convert your investment back into cash and get it back just 3 years after you gain citizenship. Also, remember that your investment will be making you money in itself during this period. For example, if you have acquired citizenship through real estate investment, you can rent your acquired real estate to third parties and earn rental income during the 3-year period during which you cannot sell it.
Will my spouse and descendants also receive citizenship?
Turkish citizenship by investment offers a pathway for not only the main applicant but also for their immediate family, including spouse, minor children, and children with disabilities. However, adult children who are 18 or older will need to pursue their own citizenship applications. This includes any children born after you have obtained citizenship, as they will automatically gain citizenship by birth.
Do I have to buy a single property worth 400000 USD?
No, you do not have to find and buy a single property worth 400000 USD. It will also be sufficient if you purchase more than one property with a total value of 400000 USD. Therefore, what is important is not how many properties you purchased, but how much the total value of the properties you purchased is.
Can I get a residence permit after my citizenship application is submitted?
Yes, once you apply for Turkish citizenship by investment, you can obtain a residence permit for you, your spouse and your children who are minors or in need of your care. According to Article 31/1-j of the Foreigners and International Protection Law No. 6458: Those who do not work in Turkey but will invest in the scope and amount to be determined by the President and their foreign spouses, their and their spouse's minor or dependent foreign children.
If I buy more than one property with a total value of 400000 USD, do I still meet the conditions?
Yes, you can meet the citizenship requirements through investment by purchasing more than one real estate, provided that the total value of the real estate you purchase is over 400000 USD. As we mentioned before: The important thing is not how many properties you buy, but the total real value of the properties you have purchased is over 400000 USD.
Can I earn rental income from the real estate I acquired to gain citizenship through real estate investment?
Yes, if you acquire Turkish citizenship through real estate investment, you do not have to use these properties personally, you can rent them and earn rental income. If you acquire Turkish citizenship by purchasing a real estate worth 400000 USD, you cannot sell the real estate you have purchased to anyone else for a period of 3 years. However, you can rent it to third parties to generate rental income during this period.
Do I need to personally come to Turkey and deal with legal procedures in order to become a Turkish citizen through investment?
No, you do not have to come to Turkey personally to gain Turkish citizenship through investment. You can give us power of attorney(PoA) on behalf of the competent lawyers of Delil Law Firm and wait for us to carry out all the transactions you need to perform on your behalf without ever setting foot in Turkey. This power of attorney we mentioned will contain many powers such as opening a bank account in your name, purchasing real estate, and making the necessary applications to the relevant administrative institutions and organizations, depending on the investment method you prefer. In this way, we will be able to manage the entire process on your behalf without any effort on your part.
Is it necessary to have lived or reside in Turkey for a certain period of time in order to qualify for Turkish citizenship through investment?
No, there is no requirement for the applicant to have lived in Turkey in order to acquire Turkish citizenship through investment. In addition, the applicant does not need to come to Turkey in person even to carry out the procedures and make the necessary applications. Because we can handle all the necessary procedures for you with the power of attorney given by you to the experienced lawyers of our law firm.
There is no bank or intermediary investment firm in Turkey that I know of. Can you also help me regarding these issues?
Yes, we can assist and guide you regarding these matters and facilitate contact for you with third persons and institutions such as banks, real estate investment consultancy companies and intermediary investment firms.