If you’ve been considering the possibility of becoming a Turkish citizen, you’ve definitely picked the right country. After all, Turkey is a beautiful and vibrant country with plenty of opportunities, and the Citizenship by Investment Program is a great way to make it your new home. By taking advantage of this program, you can enjoy the benefits that come with being a Turkish citizen, such as visa-free travel to numerous countries, lower taxes, and access to a booming economy.
At Ikamet, we’re here to help make the process of applying for Turkish citizenship as easy as possible. We provide a comprehensive guide to the Turkish Citizenship by Investment Program and can help you with everything from the application process to finding the right property for your investment.
We’ll dive into all the details and provide you with everything you need to know about Turkish nationality, from how to start the application process to what you can expect from the process. So if you’re ready to learn about the ins and outs of the Turkish Citizenship by Investment Program, keep reading!
All About the Turkey Citizenship by Investment: What to Expect
The Turkish Citizenship by Investment Program is an excellent opportunity for high-net-worth individuals to gain Turkish citizenship and all of the advantages that come with it. In exchange for a financial contribution to the country, investors and their families can gain citizenship in one of the most attractive countries in the world.
The Turkish Citizenship by Investment Program is one of the most attractive programs for investors looking for a second citizenship. It allows cosmopolitans to acquire a second citizenship by investing in the economy of Turkey. Obtaining Turkish citizenship through this program is relatively straightforward, and the minimum investment required to qualify is 400,000 USD.
There are five options available for investors to choose from when applying for the Turkish Citizenship by Investment Program. These include the purchase of real estate, investing in government bonds or an investment fund, participation in the fixed capital of a Turkish company, or opening a deposit in a Turkish bank.
If you are interested in applying for Turkish citizenship, it's important to ensure that you meet the requirements and understand the application process. For more information, please contact Ikamet for assistance.
How to Get the Turkey Citizenship by Investment
Turkey is an attractive destination for investors looking to obtain citizenship by investment (CBI). The country offers a range of benefits for those who invest in its economy, such as access to a range of visa-free countries, tax incentives, and a favourable business climate. Here's what you can do to get this program:
Option #1: Purchase Real Estate Worth $400,000 USD or Above
For those looking to obtain Turkish citizenship through investment, the most popular option is to purchase real estate worth a minimum of $400,000 USD or above. This real estate must be held for at least three years and must be in an area that the government approves. The investor must also provide proof of sufficient funds to make the purchase.
Option #2: Purchase $500,000 Worth of Government Funds
Under the program, applicants must invest a minimum of $500,000 in government funds. This investment must be held for at least three years for applicants to be eligible for citizenship. In addition to the investment, applicants must also meet a range of other requirements to be approved for citizenship. These include a clean criminal record, proof of residence in Turkey for at least six months out of the past year, and a language test.
Option #3: Establish a Company with 50 Employees
Are you looking for a way to obtain Turkey citizenship by investment? Establishing a company with 50 employees is one of the most viable options for investors looking to acquire Turkish citizenship. This option offers a range of benefits, including access to a range of visa-free countries, tax incentives, and a favourable business climate.
Option #4: Make a Capital Investment of $500,000 or Above
For those looking to obtain Turkish citizenship through investment, the most popular and straightforward option is to make a capital investment of $500,000 or more. This is a one-time investment, and it needs to be done through the government’s approved channels.
The investment can be made in any of the following areas:
- Real estate
- Businesses
- Government bonds
- Bank deposits
- Stocks
- Venture capital funds
The real estate option is the most popular, as it allows investors to purchase property in Turkey and then use it as a source of income. The government offers tax incentives to those who invest in real estate, making it an attractive option.
Option #5: Deposit $500,000 to a Turkish Bank and Keep It for Three Years or More
The most popular option is to deposit $500,000 in a Turkish bank and keep it for three years or more. This is a relatively straightforward process and can be done quickly. The money deposited must be held in an account for three years for the applicant to be eligible for citizenship.
Option #6: Invest $500,000 in Real Estate Investment Fund Shares or Venture Capital Investment Fund Shares for Three Years or More
To obtain Turkish citizenship through investment, applicants must make an investment of at least $500,000 into either a real estate investment fund or a venture capital investment fund. This investment must be held for a minimum of three years before citizenship is granted. The Turkish government also requires that the funds be invested in Turkey, so investors must ensure their funds are placed in Turkish-based funds.
Real estate investment funds are pooled investments that allow investors to buy into a portfolio of properties. This type of investment is a great way to diversify your portfolio and earn a steady income. In Turkey, these funds are regulated by the Capital Markets Board, and investors have the added benefit of the Turkish government offering incentives for investing in these funds.
Venture capital investment funds are a type of pooled investment that allows investors to invest in early-stage companies. This type of investment is often seen as a high-risk option, as the companies in which you are investing may not be established or may not be successful. However, it can also be a lucrative option, as the potential returns can be high.
In Turkey, venture capital investment funds are regulated by the Capital Markets Board, and the government offers incentives to investors who are willing to take the risk.
Let Ikamet Simplify Your Application for Turkey Citizenship by Investment
At Ikamet, we understand that the process of obtaining Turkish citizenship by investment can be complex, and we’re here to make it as simple as possible. We provide personalized advice and guidance to ensure you have the best chance of success. Our team of experts is knowledgeable about the latest laws and regulations, so we can ensure that your application is filed correctly and efficiently. Contact us today to get started!
Frequently Asked Questions
How many days out of the year would I be required to reside in Turkey?
You would not be required to stay in Turkey for a minimum amount of days throughout the year.
Will I be required to learn Turkish before receiving my citizenship?
No. Unlike many other programs, there is no requirement to learn Turkish.
Who would be eligible to receive Turkish citizenship under my application?
Aside from yourself, your spouse, and all children under 18 years of age would automatically qualify under your application.
What are the tax implications for me?
Turkey has signed a double taxation with most nations in the developed world. Suppose you have already paid the relevant taxes on income earned outside Turkey. In that case, you are unlikely to be taxed again by the Turkish government, even if it was earned in a country without a double taxation treaty with Turkey. If you have more queries about the Turkish tax structure, we advise you to speak to a Turkish tax specialist.
Would I be required to declare my wealth to the Turkish authorities?
No. The Turkish tax authorities will not ask you any questions about your financial status, or existing assets.
Where can I travel with a Turkish passport?
A Turkish passport would grant you visa free/ or on arrival access to 115 countries, including Japan, S. Korea, and the majority of S. American countries. Turkish citizens also benefit from easy visa access to the US, UK, EU, Canada, and Australia.
How long does it take to receive my Turkish citizenship?
Ikamet has a tailor made VIP service for Turkish Citizenship applicants, which allows us to obtain Turkish Citizenship in around 2 months, compared to the standard prosedure that takes around 6 months.
Would I be allowed to hold onto my original citizenship if I became a Turkish citizen?
Yes. Turkey allows its citizens to have dual nationality.
Can I obtain financing in Turkey to purchase the property for my citizenship?
Yes. However, please be aware that you will not be eligible for Turkish citizenship until you fully pay off your mortgage. If you can acquire financing from overseas to pay for your property, you would then be deemed eligible for Turkish citizenship, so long as the property has been paid for in full.
Will my Turkish citizenship expire at any time in the future?
No. Once you have held onto your investment for at least 3 years, you, your spouse, and your children will become Turkish citizens for life.
Aside from real estate, could you assist us with the other types of investments to qualify for Turkish citizenship?
Yes, we can assist you with any investment on the list, from purchasing REIT shares to opening a bank account or even a company where you employ 50, through our affiliate company – Apex Consultancy & Trading Group.
Terms and Conditions
How to Qualify for the Turkish Citizenship by Investment Program
- Purchase a real estate asset with a minimum amount of $400.000 USD (or Turkish Lira equivalent) free of charges and encumbrances, and hold onto for at least 3 years
- The Investor can buy more than 1 property, provided that the minimum amount of $400,000 (or Turkish Lira equivalent) is invested.
Specific Requirements for Real Estate Investments
- Investment of $400.000 USD (or Turkish Lira equivalent) in a real estate property free of charges and encumbrances on the condition that it is not sold for three years
- Requirement of a valuation report which needs to be accepted by the Capital Market Board
- Land Registry Certificate showing the complete ownership of the property or properties
- A valid private purchase contract from the developer
General Requirements for the Investor
- Not having entered or stayed illegally in Turkey
- Be at least 18 years old
- No criminal record in Turkey, or in any country the investor has resided in over the past year
- Not selling the property for at least 3 years
- Pay the taxes and costs for the citizenship process
Property Transaction Fees
- Title Deed Transfer – 4% of purchase price (Split between buyer and seller)
- VAT – 1 to 18% (Currently, you can apply as a foreign investor for VAT exemption, but this is a very complicated process and our lawyers are one of the few successfully qualifying this for our clients.)
- Legal Fees – 1% of property purchase price + 18% VAT
- Miscellaneous Extras (Land Registry, Power of Attorney, Notary & Translation, Maps Approval) ‐ $1000 approx.
Application & Processing Costs
- Notary & Translation Fees ‐ $1,000 USD – For single applicant ($250 per extra applicant)
- Application Fee ‐ USD 400
Required Document List
- Birth certificates of each applicant
- Passports of each applicant
- Proof of residence (Recent utility statement)
- 12 Biometric passport photos of each applicant
- Marriage certificate (if applicable)
- Death or divorce certificate of spouse (if applicable)
- Police report from country of residency showing a clean record
- Proof of Health Insurance (valid in Turkey) *
- Proof of Transfer of $400,000 USD into a Turkish bank account or lawyer’s client account*
- Turkish Tax ID Number*
- Ikamet Application Forms*
*Ikamet and our legal team will assist clients with these documents once the POA has been provided.
Frequently Asked Questions