Obtaining a Turkish passport through investment
Find out the ways to obtain a Turkish passport by investing in its various types, such as real estate investment, purchasing bonds, shares, and bank deposits. Read at Imtilak Real Estate.
Obtaining a Turkish passport through investment
Turkey is a destination for capital, whether for investment, or to achieve benefits resulting from investment, and it has become of interest to those seeking another citizenship, as Turkey has provided the opportunity to obtain Turkish citizenship in many ways. In the following lines, we will mention 6 ways to obtain a Turkish passport through Investment:
Table Of Contents
- Ways to obtain a Turkish passport by investment
- 1. Turkish passport in exchange for buying a property
- 2. Turkish passport through bank deposit
- 3. Turkish passport by buying government bonds
- 4. Turkish citizenship through investment in fixed assets
- 5. Turkish citizenship by creating job opportunities for Turks
- 6. Turkish citizenship by investing in real estate funds:
- Why obtaining a Turkish passport in exchange for buying a property is the best?
Ways to obtain a Turkish passport by investment
1. Turkish passport in exchange for buying a property
In the case of real estate investment, Turkish law stipulates that the property must meet some conditions for those who wish to obtain Turkish citizenship in return for owning a property, which is:
- The value of the purchased property(s) should be $250,000 or more, or the equivalent in Turkish currency, according to the exchange rate approved by the Central Bank of Turkey when selling.
- The buyer of the property must be from one of the nationalities that are allowed to own property in Turkey, as the naturalization law by purchasing a property in Turkey included all nationalities except for some nationalities that are prohibited from owning in Turkey under the applicable laws, such as North Korea, Syria, Cuba, and Armenia.
- That the property is purchased from a Turkish person, or from a Turkish construction company.
- The value of the property must be paid through a regular bank transfer.
- A real estate appraisal report from a real estate appraisal company is approved by the Turkish government.
- A pledge not to sell the property before 3 years, as this pledge is recorded in the title deed (within the title deed).
- The stages of naturalization through the purchase of the real estate, in Turkey, pass through several steps, the most important of which is the security study, which determines the decision to obtain Turkish citizenship or not, but the waiting period for the full completion of these stages since the application is submitted ranges between 3 and a half months and a maximum of 5 months, until the date of obtaining citizenship and the receipt of the Turkish personal identity.
2. Turkish passport through bank deposit
It is possible to apply for a Turkish passport through investment by placing a deposit in Turkish banks of $500,000, provided that you pledge not to withdraw the deposited amount for a minimum period of 3 years from the date of the application.
The amount required to be deposited was reduced from $3 million to $500,000 according to the recent amendments to the conditions for granting Turkish citizenship to foreigners issued on 19/09/2018.
Those who apply for Turkish citizenship through bank deposit must do the following procedures:
- Opening a bank account in the name of the applicant for Turkish citizenship in one of the banks operating in Turkey.
- Deposit an amount of at least $500,000, or its equivalent in other convertible foreign currencies determined by the Central Bank of Turkey, or in precious metals.
- The value of the US dollar is determined according to the dollar exchange rate in the Central Bank of Turkey on the date of depositing the amount.
We point out that: during the deposit period, currency exchange rate differences will not affect and will not be taken into account.
- Signing a statement of reservation of the amount for a period of 3 years.
- Obtaining a report from the Banking Regulation and Supervision Authority in Turkey to match the deposited amount to apply for Turkish citizenship, which takes about 10 days.
- Applying for investor residence.
- Preparing the necessary documents for the file of the applicant with his family and submitting them to the Department of Population in Turkey.
As for the duration of obtaining Turkish citizenship through a bank deposit, this is related to the submitted papers, as the information and documents submitted in the citizenship application must be complete.
3. Turkish passport by buying government bonds
Investors can obtain Turkish citizenship by purchasing government bonds similar to the bank deposit, that we mentioned previously, by purchasing bonds worth $500,000 on the condition that they are not sold for a period of 3 years.
The value of government bonds that foreign nationals are required to buy in order to be able to apply for Turkish citizenship has decreased from $3 million to $500,000.
It is noteworthy that the investment in Turkish government bonds must be approved by the Turkish Ministry of Treasury and Finance.
4. Turkish citizenship through investment in fixed assets
Among the ways to obtain Turkish citizenship is to invest in the stock market, or buy shares in a Turkish company with a minimum value of $500,000, and the amount was previously $2 million.
One of the conditions for obtaining Turkish citizenship by purchasing shares is that your investment is approved by the Turkish Ministry of Industry and Technology, and the period is set at 3 years.
Doing a fixed capital investment often means one of two things:
- Either issuing a company in Turkey.
- Or buying a share in a Turkish company.
If the amount of the fixed and paid capital of a newly established company by a foreign investor, or the share that the investor owns in another company, is $500,000 as a minimum; This will allow him to apply for Turkish citizenship.
The required procedures of the investor in fixed assets are the following:
- An application - to obtain Turkish citizenship - signed by the applicant.
- The investment deed is filled out in full and without any decrease.
- A copy of the passport information containing personal information.
- Endorsement of the commercial register, which confirms the amount of the personal budget with the type of partnership.
- A special report showing the amount of the budget with the support of the sworn financial advisor.
- With the same report of the sworn financial advisor, the deed is issued that proves the purchase of shares worth $500,000.
After the application is completed; The validity of the data and the actual existence of the documents and the company concerned are verified by the concerned ministry, and the request is made only after confirming all of that.
Regarding the duration of the process of applying for citizenship by purchasing shares, it is related to the validity and accuracy of the information provided. If the information is accurate, obtaining citizenship usually does not require more than two months, usually from the date of submitting the application.
5. Turkish citizenship by creating job opportunities for Turks
The law amending the conditions for granting Turkish citizenship to foreigners, which was published in the Turkish Official Gazette, on 09/19/2018, stipulated that the foreign company owner - who secures operational job opportunities for at least 50 Turkish citizens - has the right to obtain Turkish citizenship after he was in The former is required to employ 100 citizens.
Regarding the period required to complete the procedures for obtaining Turkish citizenship through employment, it is 45 days from the beginning of the transaction - that is: the entire required documents are delivered to the Turkish government - and until the transaction is signed by the President of the Republic, who has the authority to approve granting Turkish citizenship.
6. Turkish citizenship by investing in real estate funds:
Investment with a value of no less than $500,000, or its equivalent in Turkish lira, or other currencies in real estate investment in Turkey funds, or investment project capital funds, provided that the investment share is maintained for a period of no less than 3 years.
Why obtaining a Turkish passport in exchange for buying a property is the best?
The idea of obtaining a Turkish passport in exchange for a property combines the opportunity to own a house in Turkey where living in a sophisticated and civilized country, in addition to the possibility of benefiting from the property by renting it if you do not want to live in it or investing it by reselling it after a period of 3 years with a profitable return.
Therefore, it is an opportunity to own, invest and obtain Turkish citizenship with its strong passport at the same time!
Thus, obtaining a Turkish passport by buying a property is the best, given what we have mentioned in addition to several factors, including the following:
- The phased depreciation of the Turkish lira led to a relative decline in real estate prices in Turkey, which gave foreign investors reasonable investment opportunities, with good profits, in addition to gaining Turkish citizenship as a result of these investments under Turkish laws.
- Turkish law does not require the purchase of specific types of real estate, as a condition for obtaining citizenship through real estate investment, but rather opens the way for various options that suit the investor's needs, such as housing, land, commercial buildings, and others.
This allows the possibility of purchasing facilities, hotels, gas stations, hospitals, luxury residences, or owning beautiful Turkey villas.
- The holder of Turkish citizenship in exchange for a property can recover the price of his property after 3 years of buying it by selling it, and even has a great opportunity to profit in the property, if he chooses his property well, and knows how to invest it.
- It is worth noting that among the above methods of obtaining Turkish citizenship by investment, the procedures for obtaining citizenship by purchasing a property are described as one of the fastest and most effective ways, as the waiting period does not exceed 90 days to obtain Turkish citizenship.
From the foregoing, it seems that the steps taken by the Turkish government to facilitate the conditions required of foreign investors wishing to obtain its citizenship have aroused the interest of investors, especially Arabs.
This interest indicates that Turkey is still considered by many investors as a "safe investment destination".
The current statistics regarding applications for Turkish citizenship through investment and real estate sales also seem very promising.
Edited by Imtilak Real Estate©
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