Turkish Citizenship Through Investment
In recent years, gaining Turkish citizenship through investment has become a popular topic among foreign investors. According to general criteria for acquiring Turkish citizenship, this process can be relatively straightforward.
Ways to Obtain Turkish Citizenship Through Investment
Investment-based Turkish citizenship is one of the exceptional ways to acquire citizenship. The methods for gaining citizenship through investment are outlined in Article 20 of the relevant regulation. These methods include:
Fixed Capital Investment: Making a fixed capital investment of at least $500,000 USD or its equivalent in foreign currency, which must be verified by the Ministry of Industry and Technology.
Real Estate Purchase: Buying real estate worth at least $400,000 USD or its equivalent, and placing a restriction on the title deed to prevent sale for 3 years. Alternatively, acquiring a right of easement or condominium with a similar restriction, verified by the Ministry of Environment, Urbanization, and Climate Change.
Bank Deposit: Depositing at least $500,000 USD or its equivalent in a Turkish bank, with a condition to keep the deposit for 3 years. This must be verified by the Banking Regulation and Supervision Agency.
Employment Creation: Creating at least 50 jobs, as verified by the Ministry of Labor and Social Security.
Government Bonds: Purchasing government debt instruments worth at least $500,000 USD or its equivalent, with a condition to hold them for 3 years, verified by the Ministry of Treasury and Finance.
Investment Fund Participation: Buying participation shares in real estate or venture capital investment funds worth at least $500,000 USD or its equivalent, and holding them for at least 3 years, verified by the Capital Markets Board.
Foreigners meeting any of these criteria can acquire Turkish citizenship by a decision of the President. Applications are initially reviewed by the Ministry, and those who do not meet the criteria or are deemed a security risk will have their applications rejected. If no issues are found, the application is forwarded to the President for approval.
Fixed Capital Investment for Citizenship
A fixed capital investment of at least $500,000 USD in Turkey, verified by the Ministry of Industry and Technology, can qualify an investor for citizenship.
Real Estate Purchase for Citizenship
To acquire citizenship through real estate purchase, one must:
Buy real estate, right of easement, or condominium worth at least $400,000 USD or its equivalent.
Pay this amount in full.
Register a restriction on the property deed to prevent sale or transfer for 3 years.
Ensure the transaction is verified by the Ministry of Environment, Urbanization, and Climate Change.
Bank Deposit for Citizenship
To obtain citizenship through bank deposits:
Deposit at least $500,000 USD or its equivalent in a Turkish bank.
Keep the deposit untouched for 3 years.
The bank must be based in Turkey, and the deposit must be verified by the Banking Regulation and Supervision Agency.
Employment Creation for Citizenship
Creating at least 50 jobs, verified by the Ministry of Labor and Social Security, can qualify one for citizenship. It’s not mandatory for the employees to be Turkish citizens.
Government Bonds for Citizenship
Buying government bonds worth at least $500,000 USD or its equivalent, with a condition to hold them for 3 years, can lead to citizenship. This must be verified by the Ministry of Treasury and Finance.
Investment Fund Participation for Citizenship
To qualify through investment funds:
Purchase participation shares in real estate or venture capital funds worth at least $500,000 USD or its equivalent.
Hold the shares for at least 3 years.
Verification by the Capital Markets Board is required.
Application Process
The application for citizenship through investment must be made in writing to the General Directorate of Population and Citizenship Affairs. Before applying, the investment must be verified by the relevant authorities.
Required Documents for Application
Some essential documents include:
Citizenship application letter.
Passport or equivalent document.
Two biometric photos.
Proof of marital status.
Birth certificate.
Detailed family registry.
Receipt of service fee payment.
Property valuation report (if applicable).
Proof of investment (e.g., title deed, bank statements).
Processing Time
The process typically takes about 3 months, but can vary depending on administrative efficiency and completeness of the application.
Appealing a Rejection
If an application is rejected, it can be appealed or a lawsuit can be filed. Appeals should be submitted within 60 days of receiving the rejection. If the appeal is unsuccessful, a lawsuit can be filed within the same period.
Impact on Family
A minor child of the new Turkish citizen can acquire citizenship if both parents agree, or if the other parent is incapable or deceased. The spouse can apply for a family residence permit or citizenship through marriage.
Precautions for Investors
Investors should ensure all technical and legal procedures are correctly followed and be cautious of fraud, particularly when buying real estate.
For detailed guidance and legal assistance with your Turkish citizenship application, you can always contact Bayraktar Attorneys and our experienced team will help you for all investment processes.
